May 21, 2020

Bayport Marina Association

Board of Directors Meeting Minutes

Conference Call

May 21, 2020

This BMA Board meeting was conducted via conference call pursuant to the Emergency Executive Order 20-04 Providing for Temporary Closure of Bars, Restaurants, and Other Places of Public Accommodation issued on March 16, 2020.

Call To Order

• The BMA board meeting was called to order at 6:39 pm by the Commodore. It was confirmed that a quorum was in attendance for approval of business items.

1. Business Meeting

Approval of Meeting Minutes

• A motion by Rachel Harvey was made to approve the April 15, 2020 BMA Board Meeting Minutes and was seconded by Amy Tolbert. Approval by the BMA Board was unanimous.

1. Financial Review – Curt Gray, Treasurer

HIGHLIGHT:

• The financial big picture is that the marina remains on generally on track with revenues slightly behind plan due to a late launch, some slips remaining to be rented, revenues from Marine Max given early light boat sales and service work slightly behind plan.

November 2019 through April 2020; Profit and Loss Budget vs Actual

Total Income:

• Total income is $882,905 or 95% of plan – (off $42,056 or 5% unfavorable).

Total Expense:

• Total expenses are $790,011 or 87% of plan – (off $117,864 or 13% favorable). Good expense control around payroll and service parts.  Capital improvement and Repairs are lower which is due to timing and BMA expects to catch up on those expenses as the season progresses.

Net Ordinary Income:

• Total ordinary income is $74,807 favorable for the period.

Net Income:

• Total net income is $79,917 favorable for the period.

November 2019 through April 2020; Balance Sheet as of April 30, 2020

Total Assets:

• Total assets show $121,190 fewer assets (2.2% unfavorable to plan). The main driver for this is accumulated depreciation.

Total Liabilities:

• Total liabilities show reduced liabilities by $270,796 due to the BMRP Bank Loan payment.

AR Aging Summary:

• AR summary shows as of May 15^th a $88,121 total account receivables balance (down from April’s $140,837 account balance). Management has reached out to all individuals with past due amounts and are expected to make payments.

• Marina Operations

General Update – Kori Derrick-Cisewski, General Manager

The following is a review of the general marina activities.

• 190 boats launched
• Wi-Fi has been upgraded, Comcast is allowing twice as much bandwidth
• Two of four remaining BMA slips have been rented
• Marine Max – no sales in April, deals are in the pipeline, some deals have closed, and we expect to see more Marine Max revenue in the months to come
• Moving trash and recycling to Waste Management
• Tree on D-Dock removed to prevent it from falling on dock
• Service was focused on launch
• Grills are in place, bathrooms are open
• Washington county has not decided on the pool opening
• Canvas is booked out after the 4^th of July

1. New Business

Item – Cleaning and Sanitizing the Bathrooms

• Marsden Building solutions is recommended to sanitize the bathrooms as they provide a thorough service and providing a higher level of sanitization
• Service is performed once a week
• $699 per month with monthly renewal

A motion by Rachel Harvey was made to hire Marsden to sanitize the club house, transient, and service bathrooms once a week for the season and was seconded by Amy Tolbert.  Approval by the BMA Board was unanimous.

Item – A to B Dock Cross Walk Revenue Opportunity

• Using the head pier dock between A and B dock for revenue generation to offer tie-along service, secondary watercraft spots, or transient overflow was discussed. The BMA Board decided to use the head pier dock between A and B dock for secondary watercraft for existing members.

Item – Preparation for BMA Board

• The BMA Board worked to prepare for the BMA Annual Meeting.

1. Old Business

Property Committee

• No new updates currently

Call To Adjourn

• A motion by Dave Peterka was made to adjourn the meeting and seconded by Rachel Harvey. Approval by the BMA Board was unanimous.
• Meeting adjourned at 8:35 pm.