Bayport Marina Association
Board of Directors Meeting Minutes
Marina Clubhouse
September 19, 2019
Board Present: Absent:
Rachael Harvey Amy Tolbert
Tore Detlie Dave Peterka
Curt Gray
Russell Sheaffer
Matthew Kasinkas
Ed Manor
Bob Reilly
Meeting called to order at 6:31 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 Tore Detlie to approve the August 21, 2019 Meeting Minutes; it was seconded by Matthew Kasinkas. There was unanimous approval.
II. Financial Review
Curt Gray began by summarizing the Profit & Loss Budget vs. Actual report.
Overall, the Marina is $74,000 above budget on Income. Total Expenses are roughly $10,700 over budget and Net Ordinary Income is $64,000 over budget. The Marina is $64,700 over budget for Other Income due to the sale of slip C-05. Total Other Expenses (BMRP Loan + Depreciation) is under budget by just over $11,000. In total, the Net Income is favorable by $139,000.
Previous Year Comparison is favorable by $207,600, year over year, on the Income side. Total Expenses are $64,000 more than prior year comparison due to how Payroll was budgeted. In total, the Net Income is favorable by $253,000.
Moving on to the Balance Sheet, Total Assets are $82,000 less than the prior year and the majority of that is due to timing. Total Liabilities is less than the prior year by $320,000 from paying down the BMRP Loan.
Russell inquired about the large amount of Credit Card Fees and whether the Marina has a minimum invoice amount to allow a member/customer to use a credit card to pay their balance. Kori and Daniele will be looking into surcharge options.
a. 2020 Budget – Income Portion Draft Presented
Kori began her presentation of the 2020 Budget by explaining the increase in Sublet Labor. Since shrinkwrap performed by The Boat Doctor for members is now being billed through the Marina, the Marina will be collecting the gross instead of the net proceeds, increasing the overall total of Sublet Labor.
Regarding rates, Kori suggested a $6 per slip foot increase in Slip Rental rates for Power Boats and a $150 overall increase for Sailboats. She will be providing an exact comparison of the 2020 Slip Rental budgeted income at 100% occupancy to 2019 before obtaining approval from the Board.
Transient Rental increased from $1.25/boat foot Monday – Thursday and $1.50/boat foot from Friday – Sunday with a remaining $35 minimum.
Member Assessments remain at $68/slip foot.
Kori proposed a member rate and a non-member rate for Service Labor instead of a streamlined cost for all. The rates were approved at $110/hour for members and $120/hour for non-members. Canvas Labor will follow the same queue as Service Labor with a member and non-member rate.
Administrative Fee is budgeted less than previous years due to low turnover in Slip Rentals of Member-owned slips.
Kori will be providing a spreadsheet showing a side-by-side comparison of 2019 and 2020 when presenting the Income plus Expense draft of the budget at the October Board Meeting, for easier comparison.
III. Marina Operations
a. General Update
The pool resurfacing is currently underway.
Workflows are being prepared with the help of the Service Department for incoming Winter Work to ensure proper timing for jobs that have already been scheduled. Kori has a conference call scheduled with BiT (Point of Sale system used throughout the Marina) to discuss some of the Service/Canvas Technician’s issues to see if they can be resolved within the existing system.
Employees within the Service Department recommended installing tin on the ceiling of the shop. Jason Ovall, the Refinishing Technician, asked the company who performed work on his personal pole barn to quote a price for the Marina. The estimate came back at $78,000, with the stipulation the work is performed during the winter months. This is more favorable than the verbal quote provided a year ago of “North of a hundred”. In addition to these two estimates, Russell recommended a company to get a quote from as well. Kori will add this to the Marina’s Capital Improvements list as a possible priority in the upcoming years.
Currently, 184 boats are scheduled for haul-out. The Service and Canvas departments are in the process of following up for Winter Work. Although Service will be slower this year than last, Canvas is completely booked.
Following haul-out, the Service Technicians will be winterizing Balozi. The Marina will continue storing the Eastbank docks over the winter and the process of getting them to the harbor will also begin after haul-out.
IV. New Business
a. Asphalt Sealing
Kori met with Eric Pederson and Dave, a colleague of Eric’s is in the asphalt industry, to review the original quote from Bitumous Roadways. There are certain products that are unnecessary and therefore not recommended by Dave. He is going to reach out to a few other roadway companies for additional, more reasonable quotes.
b. Landscape Planning
The Marina’s current plan to destroy the buckthorn is to spray four treatments of Triclopyr4ec. Bob Reilly proposed sterilizing the buckthorn which would get rid of the shrubs in one treatment. He will be following up with Kori to further explain his suggestions.
Kori recommended a three-phase landscaping plan. Per Bob’s explanation, Ash trees will need to be removed at some point in the future, however, removing the Ash trees and replanting new ones is currently out of the budget. The conversation will continue to be had regarding a Landscape Plan.
Motion made by Rachael Harvey to adjourn the meeting, seconded by Bob Reilly; meeting adjourned at 8:37 PM.
