Bedford Basin Yacht Club 2018 Spring Meeting AGENDA Call to Order - - PowerPoint PPT Presentation
Bedford Basin Yacht Club 2018 Spring Meeting AGENDA Call to Order Business Arising from December 2017 AGM Minutes Approval of December 2017 AGM minutes Additions to the Agenda Commodore Report VC Operations Report VC
Call to Order Business Arising from December 2017 AGM Minutes Approval of December 2017 AGM minutes Additions to the Agenda Commodore Report VC Operations Report VC Finance Report Rear Commodore Report
Appointment of the Nominating Committee
Adjournment
Senior and social memberships are up again this year Social events are well attended, including Friday night
gatherings
Two Open House events planned
June 1oth – organized by LTS June 30th – as part of Bedford days
House repairs to siding and deck planned to start soon
2018 Rates
Boating (+HST) Member Marina slip rental 1300.00 Electrical (optional) 150.00 Mooring tender service fee 350.00 Club mooring annual rental 300.00 Dry sailed boats (includes storage and crane use) 650.00 Mooring installation (bridles extra) 1000.00 Club crane use to launch or haul 130.00 Club tractor use to launch or haul 70.00 Club hydraulic trailer use to launch or haul 40.00 Annual large rented mobile crane launch or haul 300.00 Sail Nova Scotia fee (applies to all boaters) no HST 30.00
Storage (+HST) Winter storage (Oct 1 – Jun 30) per Sq. Ft. 1.35
minimum $320.00
Summer storage (Jun 1 – Sept 30) 2.00
minimum $400.00
Dingy/Kayak storage (summer) 50.00 Dingy/Kayak storage (winter) 50.00 Folding Cradle storage, summer 125.00 Full size cradle storage, summer 250.00 Float storage (sq ft) 1.35
Big boat crane launch date Marina expansion Crane leveling Yard power & water
2018 YTD
Net Profit is at $118,097 This is $88,239 above full year budget and $95,733
above this time last year
The major variances are due to the following categories
showing improvements as billings & collections are ahead of this time last year:
Membership and Admin revenue is up $19,755 LTS revenue is up $63,880 Marina revenue is up $41,111
Note: expenses to offset these revenues will be incurred later in the year.
Membership and Administration
Membership dues are currently at 69% of budget Accounting & Legal costs are high due to fees incurred
in switching BMO Loan (Mortgage) to RBC.
Bank and credit card charges are higher due to visa fees
General Mgr. Salary is up as the position was vacant for part of
last year
House, Wardroom and Entertainment
Revenue & profit is down mostly due to lower alcohol
Yard, Marina and Marine Services
Revenues & Profit are above this time last year due to
invoices being billed earlier in the year. Yard wages & maintenance show increases due to work continuing into Nov & Dec of 2017.
Race Committee
No revenues recorded during this period in 2018 or 2017. Cost in NS Prov Optis is for shirts & caps bought in 2017
Learn to Sail
Revenues are billed & received in advance of last year.
Cost includes the purchase of a 420 boat $5,900.
Cash at month end was $69,773, much improved due
to early billings
Accounts Receivable total was just $11,711 Prepaid Expense includes HRM tax deposit on account
and insurance.
Accounts Payable and Accrued Liabilities of $4,316
consists of regular vendor/utility bills
The mortgage is at $118,519 and the line of credit is at
zero.
As of April 20th , bank balance is $86,548 and line of credit
is still at $0.00!
We’ve collected 52% of revenue to date and incurred 26%
36 marina slips have been rented and 44 have been
House Rentals revenues are already at 45% of budget and
current bookings would indicate an above budget result for the year end
Budgeted net profit of $29K is on target.
Wednesday Night Racing Starts May 30 Boxing Rock (Harbour Race) – June 9 Opener – June 23 & June 24 ARK – July 7 & July 8 – Volunteers Needed
Labour Day Regatta – September 1 & September 2 Opti Provincial – September 22 & September 23 Club Championships – September 29 Dangin – October 13
Volunteers and suggestions from the floor please