All Meeting Minutes
1995.04.27 - Excom
Thursday April 27, 1995
April 28, 1995
Cal Sailing Club
The regular meeting of the Executive Committee of the Cal Sailing Club was held at the Clubhouse on Wednesday, April 26, 1995. Commodore Scott Hotes presided.
The meeting was called to order at 6:10 PM. In attendance were Scott Hotes, Veronique Anxolabehere, John Drewery, Mark Donovan, Rebecca Haussmann, Louis Benainous, Patrick Twohy and Bill Csajko. Also in attendance was member Tony Phillips.
As of April 24, 1995, the Club has the following sums of money in their respective accounts:
Money Market $18,708
Treasury Bills $40,000
No officer reports were given. The meeting was devoted solely to discussion of the proposed 1995-96 budget for the Club.
Patrick handed out two spreadsheets -- one showing the Club's actual versus budgeted income and expenses for the period May 1, 1994, through April 30, 1995 (the Club's fiscal year begins on May 1 of each year); and a draft budget for the period May 1, 1995, through April 30, 1996.
LAST FISCAL YEAR'S PERFORMANCE
The committee first discussed the Club's fiscal performance for this past year. Under income, we brought in about $5,000 less in memberships than budgeted, and about $1,500 less in windsurfer locker rentals. This was partially offset by almost $5,000 in income that was unbudgeted -- insurance payments for the Ensign damaged in a race, and sale of our remaining interest in the Gerry Klein estate. We also sold $240 more in T-shirts than budgeted. Our total income was about $1,500 less than budgeted.
Under expenses, business costs were very close to the budgeted amount ($500 less), although there are some remaining bills to pay before the end of the month. Under capital purchases, we spent about one-half the budgeted amount for dinghy sails, one-fifth the amount for keelboat sails, and one-half the amount for windsurfer sails. Overall, we spent about $6,200 in capital purchases while the budgeted amount was $9,900, with a net savings of $3,700.
There were no burgee or T-shirt purchases, resulting in a savings of over $800. Patrick was unable to break out actual expenses for postage for the Floating Bottle, contributing to the $300 savings in postage expenses. However, printing costs were about $600 over budget. Actual expenses for communications was about $8,900 versus the budgeted amount of $9,200, with a net savings of about $300.
We also spent significantly less for maintenance than budgeted. Actual expenses were about $12,400 versus the budgeted amount of $17,800, with a net savings of about $5,400.
The Club spent about $500 over budget for miscellaneous items, and spent about $160 less than budgeted under social expenses.
Total Expenses and Overall Fiscal Performance.
Overall the Club spent over $9,600 less than budgeted ($57,800 versus $67,400). Combined with the $1,500 less in income, the Club took in about $8,100 more than it spent this last fiscal year. (Note - this does not include any bills incurred through the end of this month. (Also, see paragraph "Balancing The Budget" at the end of these minutes.)
PROPOSED 1995-96 BUDGET
Patrick noted that his draft budget was fairly consistent with the actual expenses from the last fiscal year. Under income, he showed a little more income from memberships, and a little more from dividends (due to higher interest rates).
Charging to Accounts.
Patrick brought up a concern about the method by which merchandise is charged to the Club at places like Port Supply and West Marine. He only gets monthly invoices that show the total amount due for the month, and does not provide information on individual purchases. He proposed and everyone agreed to make purchases under the Club's accounts cash and carry, with the Club member purchasing the material with their own money and getting reimbursed by the Club. This will enable Patrick to keep track of individual expenses.
The committee agreed to reinvest the Treasury bills for another year, considering we will probably not replace the Lido's until at least the summer of 1996.
Patrick noted that there was nothing budgeted last year for the capital fund, and strongly suggested we put about ten percent of our income in the capital fund. He included about $6,300 for this item in his draft budget.
Patrick had a draft budget of $7,400 for capital purchases. However, Rebecca, Mark and John had each made detailed estimates of their expenses for the next fiscal year, which resulted in the capital expenses budget increasing to about $11,000. The significant differences were for windsurfing equipment ($4,350, versus the $2,000 in the draft budget) and for keelboat sails ($2,000, versus $500 in the draft budget). The windsurfing equipment that requires replacing are booms, Novice/Junior downhauls/universals, Junior boards, fins and masts. The keelboat sails needing replacement are a spinnaker and jibs for the Ensigns (Rebecca noted that Pineapple Sails told them not to bring back some sails for repair because they were in such poor condition).
Similarly, detailed estimates by Rebecca, Mark and John raised the estimated maintenance expenses from $11,500 to about $14,000. The significant differences were for dinghy sail repairs (from $300 to $700 due to the poor condition of the Lido sails), for keelboat sail repairs (from $200 to $500), for skiff hull repairs (no money was included in the draft budget to repair the dinghy hull that has the cracked floor -- John estimated the cost at over $400), and for windsurfer sail repairs (from $500 to $1,000). There was an overall $2,000 increase in the estimated maintenance expenses, from $11,500 to $13,500.
Balancing The Budget.
With all the cost increases over the draft budget, the committee discussed ways to balance the budget. The estimated work study expenses for Dayleaders was reduced from $13,000 to $12,000, and an effort will be made to utilize more volunteer Dayleaders as has been done in the past. The estimated cost for keelboat sails under capital expenses was reduced from $2,000 to $1,500, with the purchase of only a spinnaker and possibly one jib. An additional $1,000 was added to membership income (from $50,000 to $51,000) to account for increased membership due to increased advertisement though the Club's new World Wide Web site. The racing expenses
of $600 were eliminated. The $500 cost for a new windsurfing rental locker was eliminated since we are unsure if the demand for the lockers still exists at this time. The amount of interest from our savings was increased slightly. Although not changed in the budget, Scott will work to get the City of Berkeley to approve the lease to eliminate the $1,700 annual cost for the slip for Daisy. A suggestion by Bill to reduce the number of free memberships for committee chairpeople (or just give reduced cost memberships) was not accepted. The budget was still about $2,000 over in expenses, so it was decided to purchase the windsurfing booms and universals in this fiscal year (which has a significant surplus). Mark moved to purchase 10 windsurfing booms and replace the Novice/Junior downhaul/universals, at a cost not to exceed $2,250. Bill seconded the motion, and it passed unanimously. Patrick will revise the budget per the discussions, and it will be presented at next week's General Membership Meeting.
The meeting was adjourned at 8:15 PM.
A General Membership Meeting will be held on Thursday, May 4, starting at 7:00 PM at the Berkeley Yacht Club. Election of Executive Committee officers will be held. The next regular Executive Committee meeting is scheduled for Thursday, May 11, 1995. The lecture prior to the meeting will be "Celestial Navigation" by John Drewery and Scott Hotes.