NOVEMBER 2015 BEACON

NCYC Regular Meeting Minutes Page 2 of 7

Approval of Labor Day Minutes: Motion: Moved by Ian Blackburn to approve the Labor Day Meeting Minutes. Seconded by Kim Miedema. Motion Carried.

Commodore’s Comments:

Commodore, Brian McEvoy

Thanks for coming tonight. I appreciate everyone's help throughout the year.

Vice-Commodore’s Comments: Vice Commodore, Chuck Stroh There is only 3 weeks left before we have to start thinking of closing the club. Please talk to your fellow members about stepping up and coming to help with this job. Rear-Commodore’s Comments: Rear Commodore, Pat Carroll Today I was at the Ancient Mariners 'Meet the Candidates' and steak luncheon. I was disappointed at the number of candidates that were in attendance. They are running for positions in the Club and should take every opportunity to address the Club and introduce themselves. Financial Report Treasurer, Frank Corcoran Net income for August was $6,007 versus $1,700 for August 2014. Revenues were $46,958, including dockage of $13,888, First Mates contribution of $5,000, and kid's jar monies of $1,824. Expenses for August were $40,951, the single largest item property taxes of $12,200. Year to date net income stands at $123,787, compared to $115,808 last year to date. Revenues at $289,340 are up $24,000 over this time last year. One revenue item that stands out is the "kid's jar" monies at $3,200 versus $2,600 for YTD 2014. Expenses YTD of $165,552 are up $16,000 over last year with no unusual fluctuation in any category. The balance sheet continues to be strong with cash on hand of $154,700 and a continuation of declining debt level to $87,287 at August 31. Debt reduction YTD is $31,400. Motion: Moved by PC Hugh Vestal to approve the Financial Report. Seconded by Don Reiss. Motion Carried Motion: Moved by Frank Corcoran to transfer 50% of the $15,400 in initiation fees to the Cash Reserve Fund, per the By-Laws. A total of $7,700 will be transferred by September 30. Seconded by Don Reiss. Motion Carried.