November 21, 2020

Bayport Marina Association

Board of Directors Meeting Minutes

Combined Meeting / Conference Call

November 21, 2020

This BMA Board meeting was conducted via Zoom video 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.

1. Call to Order

The BMA board meeting was called to order at 6:35 pm by the Commodore, Tore Detlie. It was confirmed that a quorum was in attendance for approval of business items.

Comments from Tore:

• To date, no one on staff has contracted Covid.

2. Approval of October 2020 Minutes

• Rachael Harvey motioned to approve. Curt Gray seconded, all in favor. The minutes were approved.

3. Financial Review – Curt Gray, Treasurer & Kori Derrick-Cisewski, GM

Budget  

1. 2020 – 2021Budget was approved by Membership with 119 yeses, 1 no and 4 abstains.

YTD Financial Review

Total Income:

Profit and Loss Budget vs Actual – November 2019 through October 2020:

• Total Income: $2,506,756; +$202,134 vs budget; +145,020 vs last year
• Total Expense: $2,314,499; +$9,877 vs budget; -$48,998 vs last year
• Net Income: $181,191; +$181,191 vs budget; +$74,4695 vs last year

Balance Sheet as October 31, 2020:

• Total assets: $5,461,453; +70,600 vs last year
  • Cash is $589,249
• Total liabilities: $448,727; -$110,590 vs last year
  • BMRP loan balance is $400,582

AR Aging Summary as of November 18,2020:

• Total A/R Balance: $162,163
• Over 30 days A/R balance: $33,279

Staff Bonus Structure Update Approval

General discussion took place regarding updated bonus structure, creating three tiers instead of just two – meeting budget with a factor of .5, 5% over budget with a factor of 1 and 10% over budget with a factor of 2. Some items were based on Concrete goals, others based on personal goals and accomplishments.

Motion that Bonus Structure be approved by Rachael Harvey and John Gagich seconded.

4. Marina Operations

General Update

2020. Credit Card processing: new processor was implemented. Rates should be will be lower effective 11/1/2020. Unfortunately, members’ credit cards were not able to be transferred from the old system; the Office staff will be contacting individuals to secure new credit cards.  Rachael Harvey indicated that she was able to pay her bill right on the website which was a nice perk.
2021. Key Card Access Panels for doors/security: Under the old system, the access panels could no longer be updated due to not being supported anymore. The necessary updates are all done via WiFi and are instantaneous, result in significant time savings because the old system required staff (Kori) to physically go to all gates around the property to update them. Kori also has the ability to open and/or lock a door with her phone if necessary.
2022. Website: Website in process of being updated this winter. Ellsa has already begun to review and update content, pictures, links, etc. that were outdated or need changing.
2023. 20-ton Trailer: The new trailer was delivered from Canada. It was five feet longer than the old one. We attempted to see if this longer trailer would work, but we declined delivery and sent it back to the manufacturer to be made the proper length as the added length was challenging on A-Dock to park boats properly. Side note: Trailer cannot leave the property.
2024. Siding Renovation: Northside of the Service building is underway. In some areas, the birds had gotten in and destroyed a great deal of insulation. Staff have added new insulation, put down new substructure and added Tyvek for under the siding.  Permit was pulled with the city.  This siding renovation was certainly necessary.
2025. Off-Season (Winter) Work: Seven boats already completed and four additional boats have been in the shop since November 1. We are full through April at this time.  Miscellaneous canvas and mechanical jobs that can be performed outside or in the canvas loft area are also in the queue (no need to bring the boat inside the building). Kori noted that many are requesting the newly redesigned reclining bow cushions.
2026. Energy Solution Partners: Discussed option to buy-out our fuel tanks. Board reviewed and approved recommendation to buy-out $13,000 investment. This will be a cost savings for the marina on the first gallons dispensed in the spring. Rachel motioned to approve; Curt seconded, all in favor – motion passed.
2027. Ellsa Potential Job Offer: Kori wanted to offer Ellsa a .9 FTE. She has stepped into the role and is performing very well. Ellsa is also going to school part-time, but Ellsa wants to be able to work through school and Kori feels she can handle this. We decided as a group that she would have two check-ins points over the next year; reassess in the spring and after the 2021 season – if the Board/Kori and Ellsa both feel this is a good fit for both parties, we could offer a full-time position at the end of this period.

5. Property Committee Update

A great deal of discussion took place concerning potential uses for the restaurant property, potential purchase price, property clean up, etc.  In order to make any decisions, we would need specific information on the possibility of refurbishing the property, if indeed we did decide to move forward with this.

1. General discussion took place on how the scenario should be presented to the owners. It should be truthful and how everything we know will work.
2. Additional discussion was made on how much money we could afford to do and remain fiscally responsible.
3. Curt Gray suggested we send a survey to the owners concerning what they want to like to see for the restaurant property. A survey will be developed and sent to Membership to see determine Membership views.
4. Action: Matthew, Rachael and Kori will work on creating the survey to Membership.

6. Call to Adjourn

A motion to adjourn was made by Meredith Pederson to adjourn, Rachael Harvey seconded the motion, unanimous approval.

Meeting adjourned at 9:03 pm.