October 21, 2020

Bayport Marina Association

Board of Directors Meeting Minutes

Combined Meeting / Conference Call

October 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 6:34 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.
• Lemanski’s have not contacted us since their boat was haul-out, we are assuming for no additional issues regarding their boat.

2. Approval of September 2020 Minutes

• Curt motioned to approve. John seconded. The minutes were approved.

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

Budget  

1. 2020 – 2021Budget: Income approved. This year has been interesting to budget because we did not know what to expect with COVID, or if things will change in the future.
2. Payroll includes an approximate wage increase of 2.5% for staff, it is also accounting for a full staff in all positions. Accounted for a part time type position in next year’s budget.
3. Capital improvements – We have allocated $105,000. John, Meredith and Kori have met and determined what are priority projects.  2021 priorities include:
   1. clubhouse siding of $29,000. Clubhouse above Kori’s office will be higher due to the height of the current rooflines, hiring outside labor for those areas.
   2. Retaining Wall on south side is failing and needs repair. Kori shared photos of the damage that needs to be repaired. Obtaining a second quote, but current estimate is $22,000.

• Ramp Gate: now that we are utilizing another key card system, a new ramp gate could add security accessible via key card. Approximately $10,000. Rachel discussed looking at a raising gate. We would have to consider the timing on the gate opening. She would like us to look at that.

1. Need to work on replacing Benches and Picnic Tables. Those should be done as the welding repairs are no longer holding.

1. Repair and Maintenance – We have another $25,000 expenses that will be paid later this week; therefore, R&M will be closer to the $130,000 fiscal year-end.
2. Another thing we would like to consider is to purchase is another Work Truck for up to $40,000. We need a back up work truck in case of breakdown, also for two trucks to be working at the same time.  This year there was a total of five weeks we were without a truck due to repairs needing to be made on the existing one.
3. Depending on what happens with the restaurant property, we would have to have a plan B budget expense list.

Budget will then be sent to gain approval for Membership. Kori requested a motioned to approve, John Gagich made the motion to approve, Rachel seconded the motion.  Unanimous approval.

YTD Financial Review

Total Income:

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

• Total Income: $2,207, 984; +$177,452 vs budget; +141,678 vs last year
• Total Expense: $1,926,086; -$68,633 vs budget; -$108,243 vs last year
• Net Income: $282,958; +$281,495 vs budget; +$129,945 vs last year

Balance Sheet as September 30, 2020:

• Total assets: $5,607,222; +105,379 vs last year
  • Cash is $737,106
• Total liabilities: $492,729; -$131,287 vs last year
  • BMRP loan balance is $407,808

AR Aging Summary as of October 21,2020:

• With the help of Ellsa, her and Kori have been able to get the over 30 days A/R balance down to less than $6800!

4. Marina Operations
   1991. 168 boats are out of the water. First time staff has had to plow and haul boats out at the same time since 1991.  Some shrink-wrapping delayed due to danger conditions.  A balance of 30 more boats will be taken out by Tuesday October 27 and Balozi will bubble in again at the service well.
   1992. Commitments received from everyone for slips, with the exception of one sailboat slip.
   1993. Potential use of six to seven slips on D-Dock may need for next year. We have six boaters getting misplaced this season due to slip sales or owners starting to use their slip again. The board was in favor of this.
   1994. Winter work of $267,000 is currently committed. We have completed $14,000 additional work, above the commitment of $267,000 during the month of October.
   1995. We have been behind on service all year and that is mainly attributed to the fact that we did not rig any new boats for MarineMax and this summer there was a lot of work, but small repairs verses major jobs or upgrades. We are closing that gap as we continue oil changes and winterization of boats.
   1996. Minneapolis Boat Show – they are not sure if the boat show will go on and they extended the cancellation time until October 31. Kori recommended that we cancel going to the boat show for 2021 due to the fact they are not sure that the boat show will end up canceling it, it will probably not be well attended and since we have no slips to rent out we don’t have much reason for being there.  All Board Members concurred that we should cancel exhibiting at the Minneapolis Boat Show in 2021.

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: Curt, Meredith, Matthew and Kori will work on creating the survey to Membership.
5. Action: John will send property tax assessment from the county for all of us review.

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.