Bayport Marina Association
Board of Directors Meeting Minutes
Marina Clubhouse
August 21, 2019
Board Present: Absent:
Rachael Harvey Tore Detlie
Dave Peterka
Curt Gray
Russell Sheaffer
Amy Tolbert
Matthew Kasinkas
Ed Manor
Bob Reilly
Meeting called to order at 6:06 PM by Commodore Russell Sheaffer. Confirmed a quorum was in attendance for approval of business items.
I. Business Meeting
a. Approval of Meeting Minutes
A motion was made by Rachael Harvey to approve the July 18, 2019 Meeting Minutes; it was seconded by Curt Gray. There was unanimous approval.
II. Financial Review
Dave Peterka began by going through the income portion of the Financials. The Marina’s income is around $66,000 over budget. Slip Rental income is roughly $5,000 above budget. Service Income is the most significant income over budget, whereas Canvas income is lower than budget by about $12,000, while remaining profitable. Fuel Dock Income is below budget due to multiple weeks of no wake, but it is quickly increasing towards budget.
On the expense side, Payroll Expenses continue to remain lower than budgeted. Gas and Oil revenue is low which is consistent with Fuel Dock income being low. Sublet Labor income was greater correlating with the high amount in Sublet Repairs on the expense side. Capital Improvements will be caught up by the end of August with the deposit for the pool resurfacing project along with submitting payments for plumbing the Fuel Dock and Service Well.
In total, the Marina’s expenses are $21,000 less than budgeted creating a Net Operating Income of roughly $87,000 over budget.
There are additional items in the Other Income/Expense side including Investment Slip Rental Return of $64,000 from the sale of C-05, putting the Marina $164,000 above budget.
Concerning Accounts Receivable, a partial payment was received on the remaining member’s balance of $7,800. If late payments are not received by the time Haul-out paperwork is due, member’s will be added to the first or second week of the Haul-out schedule.
The Marina continues to make significant progress on Long-term Debt (BMRP Loan). A year ago, the loan balance was $852,000. As of the Annual Meeting in June, the balance was $665,000 and as of now, it is $560,000.
III. Marina Operations
a. General Update
Kori spoke on how the Marina continues to be busy due to the nice weather and water levels remaining low.
The Mobile Pump-out (MPO) Program proved to be a success due to the decrease in congestion at the Fuel Dock. With the program also came plumbing the Fuel Dock to create a spot to use the tank on days it was not on the work boat. The only issue that arose from this was the inability to provide pump-outs to boats greater than 40’ in length, as an electrical pedestal is at risk for being hit with boats any longer. The pedestal will be moved over the winter to remedy this for next season.
In addition, the Service Well was plumbed to continue alleviating congestion at the Fuel Dock. Anyone requesting full or partial winterization of their boats will get a pump-out included, ridding of the need for ‘final pump-outs’.
Haul-out paperwork was sent out and the biggest change was adding shrink wrap as an option on the form. Anyone who selects shrink wrap will have it completed by The Boat Doctor but will be billed by the Marina, creating additional revenue from members.
Closing the pool is still on schedule for the day after Labor Day so it can be resurfaced. There was an issue with cloudiness of the pool; it was determined that phosphates were the cause due to the lawn being fertilized a few days beforehand. Kori has notified the lawn company to avoid fertilizing around the pool moving forward.
Bill Kranz advised there is no existing cross-easement with the owners of the property at the end of D-Dock Road. Kori will be working with Bill to implement a cross-easement to limit liability to the Marina.
Cover evaluations have been completed and quotes for repairs will be sent out by the end of this month.
Canvas currently has six open jobs and continues to follow up with winter work requests they have already received. Canvas will be slightly less busy this year due to Tom Matson retiring at the end of the season.
Service is backlogged by a week as this tends to be their slowest time of the season. Two boaters have signed up for the inspection program advertised in the Marker 19’s. The guys are gearing up for oil changing mode and Jason is working on decommissioning a boat that sold through Marine Max along with a handful of other repair requests around the Marina.
The two Azimuts sold by Marine Max last winter closed in July, resulting in the Marina collecting just over $32,000 in Additional Rent. In addition, the Marina also billed just under $32,000 in invoices for rigging each boat.
Kori is working on receiving quotes for replacing the HVAC systems in the Harbor Master Building. These replacements will be added to this years’ Capital Improvements or included in next year, depending on funds availability.
IV. New Business
Decision was made to hold the September board meeting on the 19th.
Motion made by Matthew Kasinkas to adjourn the meeting, seconded by Amy Tolbert; meeting adjourned at 6:37 PM.
