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

LOCATION: Community Development Services office, Portsmouth, NH.


DATE: January 8, 2004

TIME: 7:00PM

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

ABSENT: Capt. McCormack
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Cmde. Young called the meeting to order at 7:00PM by noting a quorum of the B of D was present; he then asked Sec. Fleming for his report of the December 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 November 13TH, and December 7TH, meeting of the Board of Directors. He then asked for any corrections to, or omissions from the reports. With no other questions being raised or additions being requested by the B of D Cmde. Young asked for a motion to accept the Secretary's report. Capt. Chambers moved for acceptance; seconded and so voted. The log book contains the written report.

TREASURER’S REPORT*:

Treas. Harrigan began by distributing copies of both his December report and proposed budget for the up coming season. The December report showed Total Revenues for the year as $376,601.01, Direct Expenses totaling $190,172.79 and Operating Expenses reported as $170,966.22 for an Operating Loss of $19,206.46. Membership equity beginning the year was $697,747.19 and ended the year as $695,255.56.

The preliminary 2004 budget draft shows revenues of $381,939.00 and an adjusted net loss of $23,162.00 for the season. After general discussion by the Board the Budget Committee will meet again to investigate reductions in the proposed budget for the 2004 season.

Capt. Watson questioned Treas. Harrigan that on the fuel sales analysis information presented at the last Board meeting he wondered whether or not the fuel sales were being lost or not recorded by the dock personnel.

Cmde. Young asked for any further questions of Treas. Harrigan; there being none, he asked for a motion to accept the report as submitted. R/C Jones moved that the report will be placed on file for future audit.

REAR COMMODORE’S REPORT:

R/C Baime reported a meeting of the Social Committee was held on January 4th and the Social Committee formed. Dates for the various events were established and have been provided to the Secretary so that the Social Calendar may be printed. Significant changes for the coming year so far include:

Christmas Dinner dance on December 18th. at the Portsmouth Country Club
New Year's Day Brunch on January 1st. at Yokems

The February/March newsletter is being prepared. Announcements will include the following:

A 20% increase in fees for lockers, slips.
An increase to $15.00 per person for the Wednesday Night Dinners.
The PYC Cruise Downeast will again be led by Capt. Paul Young.
The Chesapeake Bay Cruise is being canceled.

R/C Baime requested that he be advised prior to January 31st. of any announcements the Board wished to include in the newsletter.

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

VICE COMMODORE’S REPORT:

V/C Jones reported the House and Docks Committee will be meeting the first week of February to establish a list of maintenance and work projects to be accomplished during the season. The Committee plans to be a "working committee" this year to minimize expenditures for the necessary maintenance needed to maintain the facilities. The list of needed maintenance items will be developed by the Committee and an order of importance established.

Work Parties will begin on April 3rd and continue on April 10th. to begin the opening of the facilities with Docks-In for the 2004 season scheduled for April 17th. Opening Night will be May 16th. Work Parties on October 2nd and October 9th will signal the end of the season with Docks-Out scheduled for October 16th.

Letters will be sent offering employment to all of the dock personnel of last season. The Steward's job will be advertised during the coming month. General discussion followed as to the talents needed to successfully fill the Steward's position. Capt. Gebow suggested looking for a retired military person that would enjoy a seasonal position. V/C Jones will proceed with the advertising, interviewing process and report back to the Board.

V/C Jones also commented that he planned to identify each of the opening and closing values associated with the seasonal opening and closing of the Club so that future personnel will be able to follow the sequence needed to open or shut down the facilities.

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

COMMODORE’S REPORT:

Cmde. Young began his report by noting the following applications have been approved for membership by the Membership Committee:

Douglas Pinciaro Sponsored by P/C Becker & Capt. J. Myles
Clair Wilich Sponsored by Board of Directors
Richard J. Spillane Sponsored by Capt. B. McCracken & P/C Roth
Paul W. Roy Sponsored by Capt. Goldberg & Capt. Gingras
Frank Pfosi Sponsored by Capt. Knollmeyer & Capt. J. Myles



Resignations have been received and accepted from the following members.

John Cavanaugh Marilyn Kline Richard Costa
Phillip J. Kerhoff

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

CURRENT BUSINESS:

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

R/C Baime opened discussion on changing the status of membership requirements. Capt. Goldstein of the Membership Committee suggested investigating the criteria for membership, boat owners versus social participate, that perhaps the Constitution and By-Laws Committee should look at the requirements of membership in PYC. After general discussion Cmde. Young commented that he would ask the Constitution and By -Laws Committee to review the criteria for membership.

Cmde. Young opened discussion on the first budget draft for the 2004 season. Capt. Rushforth explained that the proposed individual account expenses in the budget had been established from the previous years' history. He then went on to comment that the final proposed budget would be presented to the Board at the next meeting in February. Concerns were raised by the board members that the budget exceeded forecasted income. However, Capt. Rushforth felt that there were opportunities to reduce the budget to stay within income and the Committee would meet again to discuss these opportunities prior to the next Board meeting.

Cmde Young brought the Board up to date on the fuel issue with the state. He commented that he had just heard from the state that day with a question on the status of the project. The repair of the west end of the building foundation is on hold subject to improvement in the weather, as is the fuel pump lines project.

P/C Scott will be investigating the depth of the existing piles below the mud line and attempt to determine the length of replacement pilings needed to rebuild the dock system.

The question of mooring rental days, weeks, season was discussed and tabled for future discussion. It was decided that all launch operators should have the appropriate license to operate the launches transporting members and guests. Cmde. Young noted that if any dock personnel did not currently have a license to operate a launch, Capt. Carson was a qualified instructor who could instruct and test the employees in order to procure licenses.

How to fund the anticipated dock repairs or replacement project was opened, discussed, and tabled for future discussion.

NEW BUSINESS:

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

There being no additional new business Cmde. Young announced the next meeting of the Board of Directors will be held on February 12, 2004 starting at 7:00 PM at the Community Development Service office at 195 Hanover street, Suite 40 Parade Mall, Portsmouth, NH. 03801.

This meeting adjourned AT 8:22PM.






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