Bayport Marina Association
Board of Directors Meeting Minutes
Marina Clubhouse
October 17, 2018
Board Present: Absent:
Rachael Harvey Tore Detlie
Ed Manor Matthew Kasinkas
Eric Pederson Dave Peterka
Bob Reilly Russell Sheaffer
Amy Tolbert
Meeting called to order at 6:29 pm by Commodore Amy Tolbert. 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 corrected September 19, 2018 Meeting Minutes; it was seconded by Bob Reilly. There was unanimous approval.
b. September Financials
Kori stated the drastic seasonality of this year has affected our service work and we are still behind on service income. Storage is currently ahead because we were able to invoice that ahead of schedule. MarineMax income, in other revenue, is behind on income, but Kori believes that dollar value was over inflated on the 2018 budget.
On the expense side, items to note are that the real estate taxes were paid in September but budgeted in October so it was just a timing issue. During the September Board Meeting we noticed that gas and oil was in-proportionately over budget in expenses verses income, which has to do with the fact that we use the gasoline in our own equipment, which we keep track of, and we will do an adjusting journal entry at the end of the year to capture our expenses.
The last main area that we are over expenses in marina equipment. Kori believes the following items were not budgeted for but were needing replacement: the Travelift belts, one golf cart and blocks for blocking boats (many of which were rotting and unsafe to use).
Lastly, we were able to pay the loan principal down by $80K due to the slip sale of A-29.
c. Budget – Income Only Draft
Kori presented the first draft of the 2019 budget, the income only. Net Operating Income is 3.14% over the 2018 budgeted income. Increased revenue will come from the Canvas Department, Slip Rental and the final increase of assessments. Board Members approved. Kori will present the 2019 Budget with expenses added during the November Board meeting.
II. Marina Operations
Kori started with an update about anticipated winter work. She showed a picture of the winter work board that was created with all of the committed winter work on individual magnets to be able to keep track and add to the calendar as they get moved into the shop. We are projecting at least $160K at this time in winter work.
A week after the September Board Meeting, the crew started haul-out. Every week with the exception of week has been completely full. We have quite a few of additional boats to take out of the water for winter storage and winter work.
Zach has been working on contracts for 2019 slip reservations. We anticipate being almost full for 2019 just by completing these for our existing renters. That is with out touching our waitlist of 40+ people.
Kori and Scott will be visiting Lake Assault tomorrow to check on the progress of our work boat. We are anticipating the delivery in early November.
Fuel Dock Modification
Kori has been working with Scott Nielsen on plans for modifying the Fuel Dock & filling in D-50. Kori found the company we originally purchased the composite decking from and got a quote. It is $8100 which includes freight; Kori asked for a motion to approve the purchase of the composite, so we can move forward with the modification. Amy Tolbert made a motion to approve the purchase of the composite, seconded by Eric Pederson, unanimous approval.
Mobile Pump-Out Survey
Kori presented the board with the draft of the Mobile Pump-Out Survey that she would be sending out to membership. Any member who returns a survey response will get a point towards launch in the spring. We are still in discovery mode right now to determine the best option for the program at BMA.
III. Old Business
a. Donation by Bayport Marina to Zephyr Theater & St. Croix River Association
During the August Board Meeting Rachael Harvey had suggested that BMA may be interested in budgeting to donate funds to the Zephyr Theater and we would receive a brick with our name on it. Kori suggested that we take a vote this evening to be able to proceed with the donation. Eric Pederson made a motion to donate $1000 to the Zephyr Theater, seconded by Bob Reilly, unanimous approval.
Motion made by Rachael Harvey to adjourn the meeting, seconded by Bob Reilly; meeting adjourned at 8:28 pm.
