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

LOCATION: Community Development Services office, Portsmouth, NH.

DATE: November 13, 2003

TIME: 7:03PM

PRESENT: Cmde. Young VC Jones R/C Baime
P/C Scott Capt. Blidberg Capt. Chambers Capt. Jefferson Capt. McCormack Capt. Watson
Capt. Goldberg Capt. W. Gebow Treas. Harrigan
Sec. Fleming

ABSENT: Capt. Rushforth
------------------------------------------------------------------------------------------------------------------------------------------------


Cmde. Scott called the meeting to order at 7:00PM by welcoming the newly elected Board members William Gebow and Robert Baime then noting a quorum of the B of D was present he asked Sec. Fleming for his report of the September 11TH meeting of the Board of Directors.

SECRETARY’S REPORT:

Sec. Fleming began by asking if all members present had received a copy of the notes of the September 11TH 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. Scott 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 copies of his November Report. The report stated that a transition from an office run through boxes and manila folders to a transactions and database program-based ledger has been accomplished with some reduction in accounting costs. The quarterly financial report experiment failed and reporting was back to monthly summaries. Reconciling bank deposits with day sheet and function records was a problem fixed by making this task the Steward's responsibility with no option for delegation.

Treas. Harrigan went on to comment on the need to increase revenues to meet anticipated operating costs for the next season. He felt items to be considered were as follows: Function no shows - complete and accurate record keeping for billing purposes; mooring fees - collect fees each day or require prepayment, for club rentals - bill directly to each club member for staff and material costs . Reduce staff payroll by 10% would save approximately $8000.00 per year and increases in locker fees (100%), raising slip fees by 20%, and raise function prices (20%). He estimated these actions would increase revenues by $25,000.00.

He estimated that with year end bills paid the cash balance in our accounts would be approximately $1700.00. With property taxes due combined with a capital improvements of the docks this will leave a short fall of $17,000.00 to $18,000.00. Payment options are to reduce the Contingency Fund by $25,000.00 with a penalty of lost interest of approximately $2800.00, or delay paying the property taxes due until January with a resulting interest charge by the town of $360.00. Treas. Harrigan asked for instruction from the Board as to how to proceed (See Current Business).
Cmde. Scott asked for any further questions of Treas. Harrigan; there being none, he asked for a motion to accept the report as submitted. Capt. McCormack moved that the report will be placed on file for future audit.

REAR COMMODORE’S REPORT:

R/C Jones reported that the news letter would be published this coming week so any information that needs to be in the letter needs to get to him before the end of the week. An inventory of the bar stock has been completed with an inventory value of approximately $1000.00, depending if the bottles are half full or half empty. Contracts for the Christmas Party at the Jarvis Center on December 13TH and the New Years Day Brunch on New Years days have been signed. Also the date, March 13TH has been confirmed for the Ashworth By The Sea Dinner function.

Stan Shaw, our caterer, has been contacted for next year's functions and has agreed to do the meals, subject to an agreement on price which needs to be reviewed by the Board. Attendance at this year's functions as of 18 October stands at 3,745 members and guests. The club house was rented to nine members this year for private functions.

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 Young reported that work parties were held prior to docks out. Docks-Out took place on October 25TH and went smoothly. The docks have been stored in a manner which will allow work to be done on the fuel tank storage area if necessary. The Club house has been winterized, winter locks are in place restricting building use by members. Of the three floats scheduled for refurbishing, two have been completed by work parties and the third will be completed in the spring. The refurbishing of the fuel pumps and lines will be done during the fall months weather permitting with completion scheduled for spring. Completion of the foundation work by Gage Construction on the North end of the building is also scheduled for completion prior to spring. The new Eastern launch is scheduled for maintenance and storage at Eastern Boat's facilities and the diesel launch is stored at Witch Cove Marina for the winter.

V/C Young made the observation that based on the amount of maintenance work needed to maintain the club facilities during the year, that with the smaller turnout of club members willing to donate their time each year, if the work is going to be done to maintain the facilities, outside assistance is going to need to be employed. V/C Young comment that without both Chris and Jack to assist in the closing the club and the fall maintenance work it would have been difficult to complete the necessary work in a timely manner. Capt. McCormack and Capt. Gebow comment to observing that normally four dock staff were on duty on a daily basis and did not appear to have specific work assignments to complete.

Capt. Goldberg will report on the discussions being held with the state regarding the fuel storage tank soil report needed by the State Environment Agency.

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

COMMODORE’S REPORT:

Cmde. Scott began his report by noting the following applications for membership have been approved by the Membership Committee and added to the current waiting list for membership.

Donna Peters Joe Hunkins Leonard Small John R. Kemen, Sr. .
Cmde. Scott continued his report by noting the following applications for membership have been received and sent to the membership Committee for consideration:

Peter A. Haring Jr. Sponsored by Capt. N. Kinser & P/C Scott
Mark T. Adam Sponsored by Capt.L. Small & Goldberg
Nicholas Pappas Sponsored by Capt. M. Pappas & Capt. J. Pappas
Terry Connor Sponsored by Capt. Conway & Capt. Goldstein
N. Roger Hutchinson Sponsored by V/C Jones & Capt. J. Carson


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

Cmde. Scott then asked for nominations for Rear Commodore. Capt. Jefferson nominated Capt. Robert A. Baime, to serve as Rear Commodore for the 2003-2004 season. The nomination was seconded and the nominations closed. Capt. Baime was then elected to serve as Rear Commodore by unanimous voice vote of the Board.

Cmde. Scott asked for nominations for Vice Commodore. Capt. Chambers nominated R/C Kenneth A. Jones to serve as Vice Commodore for the 2003-2004 season. The nomination was seconded and the nominations closed. R/C Jones was then elected to serve as Vice Commodore by unanimous voice vote of the Board.

Cmde Scott then asked for nominations for Commodore. Capt. Jefferson nominated V/C Thomas Young to serve as Commodore for the 2003-2004 season. The nomination was seconded and the nominations closed. V/C Young was then elected to serve as Commodore by unanimous voice vote of the Board.

Upon completion of the voting P/C Scott passed the gavel of authority to Cmde. Young (a round of applause from the Board followed the election of the newly elected Flag officers). Cmde. Young thanked P/C Scott for all the hard word he had contributed to make the past season such a success. P/C Scott thanked the members of the Board for all their contributions which contributed to the successful season.

Treasurer John E. Harrigan and Secretary William F. Fleming remain in their respective positions as Treasurer and Secretary, this also met with unanimous approval of the Board.

Cmde Young then asked for a motion to continue the job responsibilities of the Rear Commodore and Vice Commodore as practiced during the past season; this met with the approval of the Board.

CURRENT BUSINESS:

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

Capt. McCormack reported that she had mailed the Chairman of the town Selectmen a copy of our Liability waiver as it pertained to parking on town property (The Common) ,and would most likely be on the agenda for discussion Monday evening. Capt McCormack commented that she had not as yet spoken to the church as it was may be a sensitive issue to some of the town citizens. Capt. McCormack agreed to continue dialogue with the town and would report back.

Gage Construction will be working on the North end corner of the building foundation and a section by the kitchen during the fall and winter months so that the work is completed prior to spring opening of the club.

The fuel system up grade is in progress to include installing the pump in fuel tank itself. This also will be done over the closing months and be ready for next seasons opening.

Capt. Goldberg reported that he was working with the State to comply with their regulation regarding the fuel tanks. The State requirement, is that they have asked for three observation wells to be drilled in the surrounding area of the fuel tank. This requirement is due because of a lost 1994 inspection certification. The records indicate the possibility of a spill having taken place during the tank installation in 1994. Agreements seem to have been reach where by we can satisfy the inspection requirement by digging a single test hole with an environmental engineer recording the results . This work to be completed by spring.

Capt. McCormack opened a general discussion on the distribution of the funds currently in the Contingency Fund to and other means available to generate cash for maintenance and capital improvements. After general discussion by the Board this item was tabled for future discussion.

NEW BUSINESS:

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

Cmde. Young opened discussion on the method of payment of the current property tax invoice from the town. Capt. Chambers made a motion to withhold payment until January of next year accepting the interest cost of $360.00 on the late payment. This motion was seconded, and approved by voice vote.

Cmde. Young opened discussion on the cost of functions and services provided the membership. Treas.. Harrigan in his report recommended increasing the Locker fee to $30.00, the slip fees increased by 20% and the function charges increased by 20%. After general discussion the Board took the following action to increase annual income.

a. Increase liquor locker fees 100%
b. Increase slip fees 20%
c. Increase meal cost to $15.00 for Wednesday Night Dinners

The above actions were discussed and passed by unanimous voice vote.

Capt. Watson opened discussion on checking fuel suppliers for competitive pricing for the coming season. After general discussion by the Board Capt. Watson agreed to speak to different suppliers that could possible supply the club's fuel needs. After general discussion it was decided to remain with the current vendor because of the good service he has historically provided the Club.

There being no additional new business Cmde. Young announced the next meeting of the Board of Directors will be held on December 11, 2003 starting at 6:00 PM at the Axel Johnson Conference Center, River Road, Newington, NH. This meeting adjourned at 8:55PM.






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