RE: OFFICERS & BOARD OF DIRECTORS MEETING OF PORTSMOUTH YACHT CLUB

LOCATION: Community Development Services Office, Portsmouth, NH.

DATE: November 14, 2002

TIME: 7:06PM

PRESENT: Cmde Scott V/C Young R/C Jones P/C Coffey Capt. Chambers Capt. Jefferson Capt. Rushforth Capt. Watson Capt. Goldberg Capt. P. Young Capt. McCormack Capt. Bildberg Treas. Harrigan Sec. Fleming

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P/C Coffey called the meeting to order at 7:07 PM by noting a quorum of the B of D was present. He welcomed Capt. McCormack, the newly elected board member, and Capt. Harrigan, the newly elected Treasurer. Capt. Harrigan replaces Capt Atwood. (Note Capt. Harrigan was elected Treasurer by a polling of the B of D following Capt. Atwood's announced resignation at the Annual Meeting in October).
He then asking Sec. Fleming for his report of the September 12TH meeting of the Board of Directors.

SECRETARY’S REPORT:

Sec. Fleming asked if all members present had received a copy of the notes of the September 12TH meeting of the Board of Directors. He then asked for any corrections to, or omissions from the report. With no questions being raised or additions being requested by the B of D Cmde. Coffey asked for a motion to accept the Secretary's report. Capt. Watson moved for acceptance; seconded and so voted. The log book contains the written report.


TREASURER’S REPORT:

Treas. Harrigan began by distributing the October financial numbers along with a memo thanking the Board for his appointment. He stated that henceforth, the standard of performance for the office of Treasurer will be complete, verified, applicable, and timely accounting reports and analyses. That he had met with Past Treasure Atwood who had been most helpful and courteous in assisting in the transition of the club's financial records.

Members dues will go out on December 1st; at the recommendation of several members, this year's membership card will be reduced to business card size to better accommodate being carried in one's wallet. Treas. Harrigan is also in the process of developing worksheets for use in establishing next year's budget and trend analyses on such items as fuel sales, income and syntheses of income and expenses.

Total revenues through October are $370,817.67 with total expenses to date of $327,919.64 leaving a pre- tax operating income of $42,898.03. Treas. Harrigan raised a question of whether or not we should investigate re- financing the mortgage to reduce the interest rate we are currently paying. This question is to be considered by the incoming Flag Officers and Treasurer at the next budget meeting.




Cmde. Coffey asked for any further questions of Treas. Harrigan; there being none, he asked for a motion to accept the reports as submitted. Capt. Rushforth moved for acceptance, seconded and so voted. Copies of the reports will be placed on file for future audit.

REAR COMMODORE’S REPORT:

R/C Young reported that there have been no social functions since the last Board meeting. The newsletter for the month of December and January will be sent to the membership some time in the coming week. This will include advertising the Christmas Party December 14th at the Jarvis Center and the New Year's Day Brunch at The New England Center.

Stan Shaw has asked whether or not he will be returning as caterer for next year. It was agreed that he had done a good job the past year and should be employed to cater the meals for the 2003 season. A motion was made by Capt. Bildberg to hire Stan Shaw as caterer for the 2003 season; seconded and passed by voice vote.

There being no further questions or discussion Capt. Chambers moved for acceptance of the report as given, seconded, and so voted.

VICE COMMODORE’S REPORT:

V/C Scott reported that the Eastern launch is history; it has been returned to Eastern Boat for the last time as a down payment on our new launch under construction. The docks have been inspected and the wood determined to be fine, however the foam was badly in need of replacement. Two docks #33 and #34 will need to be replanked in the spring prior to being launched. The windows for the west wall of the clubhouse are on site and P/C Gage has agreed to install them in the spring. The diesel launch will need new motor mounts beds and repairs to the steering cable system before spring launching.

A plan is needed showing the location of the pier and the pilings under the pier to the floating docks in order to proceed with the permit application to replace or repair the pier to the floating docks in the near future. A stamped certified engineering drawing is a requirement for the permitting process.

V/C Scott commented that we may need to advertise for a new Steward as our present Steward has indicated that he does not want to work weekends another year.

There being no further questions or discussion R/C Young moved for acceptance of the report as given, seconded, and so voted.

COMMODORE’S REPORT:
Cmde. Coffey began by commenting that in his opinion the Annual Meeting had gone very well with 72 members attending. He went on to report the following applications for membership have been received this past month and sent to the Membership Committee for consideration.

John P. Appleton Sponsored by Capt. Wilson and P/C Kinser
Robert W. Golledge Sponsored by Capt. Wilson and P/C Kinser
George C. Courtovich Sponsored by Capt. Dionne and Capt. J. Pappas
Richard J. Vailancourt Sponsored by P/C Gage and Capt. Watson
Erik E. Maurer Sponsored by Capt. Luff and Capt. Schmit
Jeffery D. Church Sponsored by Capt. Crawford and Capt. J. Pappas

Cmde Coffey read a letter of resignation from Capt. T. F. Stirgwolt effective 12/31/02. Capt. Stirgwolt is moving from the area.

A second letter from Capt William O'Brien was read regarding a mixup in locker assignments. Treas. Harrigan will look into the transaction and contact Capt. O'Brien with a resolution to the assignment.




There being no further questions or discussion Capt. Goldberg moved for acceptance of the report as previously given, seconded, and so voted.

Suspending the normal sequence of reports Cmde. Coffey then called for the election of Flag Officers for the 2002 - 2003 season.

Cmde. Coffey asked for nominations for Rear Commodore. Capt. Watson nominated Capt. Jones to serve as Rear Commodore for the 2002 - 2003 season. The nomination was seconded and the nomination closed. Capt. Jones was then elected by unanimous voice vote from the board.

Cmde. Coffey then asked for nominations for the position of Vice Commodore. Capt. Jefferson nominated R/C Young to serve as Vice Commodore for the 2002 - 2003 season. The nomination was seconded and the nomination closed. Capt. Young was then elected by unanimous voice vote from the board.

Cmde. Coffey then asked for nominations for Commodore. Capt. Jefferson nominated V/C Scott to serve as Commodore for the 2002 - 2003 season. The nomination was seconded and the nomination closed. V/C Scott was then elected by unanimous voice vote from the board.

Upon the completion of the balloting P/C Coffey passed the gavel of authority to Cmde. Scott (a round of applause from the board followed the election of the newly elected Flag Officers). Cmde. Scott thanked P/C Coffey for all of the hard work he contributed to the success of the past season.

Cmde. Scott then asked Secretary Fleming to remain as Secretary another year, and welcomed Capt. Harrigan as Treasurer ; these appointments met with the unanimous approval of the B of D.

Cmde Scott then asked for a motion to continue the job responsibilities of the Rear Commodore and Vice Commodore as practiced during the past season; Capt. Watson moved for acceptance, seconded and so voted.


SUBJECTS CURRENTLY TABLED FOR FUTURE DISCUSSION BY THE BOARD

DATE SUBJECT DISPOSITION

9/10/98 Vision 2000 Committee Capt. Carson

CURRENT BUSINESS:

Cmde. Scott asked for any reports on current business to be brought before the Board of Directors.

Capt. Jefferson reported that the new launch is under construction with the console being purchased. A progress payment will be coming due sometime in January depending on the construction progress. Capt. Chambers commented he did not feel this payment would be an item of concern to Eastern Boat.

The Pier Replacement Committee has not as yet met to formulate a repair schedule.

P/C Coffey recommended that the two open Treasure's Report for August and September be placed on file subject to audit; this met with the unanimous approval of the B of D.

Capt. Watson passed out a list of questions to the Board that members have asked him about over the past months that he felt the Board members should be able to comment on. The list consisted of 19 items of membership inquiry that the Board has discussed but not yet taken action on. Capt. Bildberg noted that several of the items on the list would require budgeting in 2003 to implement. Specifically, the sound deadening of the clubhouse.

Capt. Goldberg noted the Capital improvement plan could foresee $241,000 of club maintenance over the next ten years with $95,000 of improvements currently being considered ( if the Dock repair is moved forward) through 2003. The cost of the west wall foundation repair is not included in this estimate.

P/C Coffey reporting on the west wall foundation repair stated the underpinning of the wall was in need of a major repair, prior to the windows above being installed. It appears that the base footing material of the wall piers is deteriorating. V/C Young commented that he could see movement in the window frames in the past two weeks. P/C Coffey agreed to work with Cmde. Scott to investigate a solution to the problem.

NEW BUSINESS

Cmde. Scott asked for any new business to be brought before the Board of Directors.

V/C Young suggested that when the Budget Committee meets consideration be given to purchasing a group of maintenance tools for use by the staff, and that the Flag Officers consider dividing the responsibilities of the Steward to include an Assistant Steward to be responsible when the Steward is not available.

V/C Young noted "Docks In" will take place on April 19TH to open the boating season. Second that discussion is needed to redefine the use of the clubhouse for private parties. Capt. Jefferson noted that with the increased use of the Club by our membership it may not be good management to restrict the membership from the use of the Club on either a Monday or Thursday. Or perhaps the cost of Club rental should be reviewed.

Capt. Rushforth commented that he would like the Budget Committee in its deliberations to consider the establishment of a multi year budget for the repair or replacement of the piers and dock to the floating docks rather than having to budget the total cost all in one year.

There being no additional new business Cmde. Scott announced the next meeting of the Board of Directors will be held on December 4, 2002 starting at 6:00 PM at the Axel Johnson Conference Center, River Road, Newington, NH. This meeting adjourned at 8:51PM.







William F. Fleming
Secretary
*report/memo placed on file