Gilford Yacht Club 2023 June 3 Annual Meeting Minutes
Meeting came to order @ 10:15
Board members present:
Dimitry Zhivotovsky, Dave Almstrom, Svend Filby, Steve Wilson; Tim Matyuf- absent
Dave Johnson- Manager
Bob Giuda- moderater, Robert Ducharme -GYC Lawyer
18 owners with 27 votes, plus 13 Proxies= 40 total votes
Secretary Steve Wilson welcomed everyone to the meeting
Dave Johnson collected dues/assessments from owners who had not paid yet. According to our bylaws they were to pay 7 days prior to meeting but were allowed to pay and join the meeting. Robert Ducharme said the Board has the right to either follow this bylaw or waive it.
He said, “Always take the money !”
Board introduced themselves to the members
Moderator asked the following:
Do we have a quorum yes
Certified by clerk yes
Approval of annual meeting minutes of 2022
Motion made by Bob Mayo to approve; `Mike Keefe- second . Adopted unanimously.
Treasurer Dave Almstrom reported
As of May 31, 2023: Checking acct balance- $74,549.56
Savings acct balance- $38,473.68
On dues of 2023 Rich Bono had questions on reserve fund.
$300 was put in and he felt that it should be per the capital reserve report- $400.
Robert Ducharme looked over the capital reserve report and found that GYC had in its accounts substantially more than the requirement of the report.
Line item- Gas and oil- $2000 should be $500. Budget cannot be amended. Robert Ducharme said a budget is just estimated and can be moved around to other acct if there is excess
Board has adopted budget.
No GYC debit cards or credit cards are currently in use by GYC
All checks are from CPA; no board member writes checks. Only the treasurer signs them.
Former managers/board members had the use of debit cards.
Dave J looking at old bank statements and will collect money used for personal business.
Board will report conclusion to Lawyer and members for transparency
Cap reserve – NH state law does not require a reserve account
Board will look at the amount to put in each year per report
Only 2 months of operating capital should be in the operating account; all other capital should be in the reserve fund-according to Robert Ducharme
Audits are now 12K. Good idea to have a CPA review
Audits need to be done at least once every 15yr
It is board decision to do this and has to be in meeting mins by 2025
Get price of audit from CPA
Suggestions from owners attending: Get better interest rates; too much money in operating acct – transfer to reserve fund- possibly have cd’s- maybe 4 so they come due at different times. It’s a board decision where/how to invest money
On budget line item- Lift income change to two separate line items- launch and haulout board to change
Transparency- will club members be told who was involved using club funds for personal expenses? If and when board is ready to go forward, board will first go to lawyer depending on the amount of funds used.
Motion to approve 2023 budget: Greg Gunski made motion; Mike Keefe second; passed unanimously
Tami lift maintenance and dredging should be in reserve fund
Many items can be fixed by capital fund and not needed in reserve fund such as tami lift just replace parts as needed
No stress test has been done on the tami lift. Greg Gunski feels we need to have it stress tested
Board will look into it.
Bob Mayo interested in cap reserve. Do we need a committee? Bob Mayo interested in being on
There needs to be more communication to members
Greg Gunski- dredging in future? With water levels so low last year he had to run engines (prop dredge) to clear sand away from wall by his slip.
Boats getting stuck more often; boats are backing in to finger docks running engines in gear and moving sand away from footings
Dredging should be on next board meeting
Suggestion on accts, cap res to see where money is, interest
Cap res– operating fund committee Bob Mayo
Robert Ducharme suggested 2 months operating funds in operating account at one time; rest in reserve getting interest- Then roll over end of year
Dave J gave lawyer a proposal to vote on from CPA: GYC is a non-profit entity-no money should be left at end of year; transfer all end of year money into operating account of following year
Motion from Rich Bono to roll money over end of year; Bob Mayo second Passed unanimously
Should always be on agenda of annual meeting to roll over profit
Old business
Fence looks good; section of loose fence. contractor called will send person to fix issue
Bath house
Inside finished outside done Dave J working on deck
Greg Gunski brought up board said we are only using outside venders why is Dave J doing work? Dave J is covered under our insurance
Members thought they were getting a whole new inside vanity and toilets
Some drains do not drain properly; ceiling tiles are stained, toilet loose, quality of work not what expected
Bathhouse is not completed, needed to be open for the season, there will be other improvements, this was a renovation not a new build.
Dave J stepped in to oversee build, Dave J built bathhouse in the 80’s .Budget was kept under 30K to avoid criticism.
Members would have liked to be consulted on the cost of renovations to bath house and stated they would have paid more to have it done more like the clubhouse.
Members attending stated that they would be happy to have a special assessment to redo the bath house
Rich Bono wants mower person to blow grass off walkway to gas dock and also use bag to collect the grass. Leaves need to be picked up in this area
Toilet paper and paper towels will be given to cleaning person to keep full
New business:
Board should walk property with members to look for problems
If members see problems; take picture; put in writing; give to board
Problems with people coming in to club to fish
No trespassing sign has been put up, take picture of vehicle’s license give to Dave J
Suggestions:
*Do we need more cameras for complete coverage of club
*Fence around club
*Gate to get into club
*Need committees
Electric– board can charge an extra fee for individual that uses more than others
Live aboard fee?
Election of two officers: David Almstrom and Dimitry Zhivotovsky up for relection
Greg Gunski made motion to nominate Rich Bono
Members wanted private vote
Everyone voted-votes counted twice
Winners: David Almstrom and Dimitry Zhivotovsky
Need new door code- Dave J nominated to come up with one
Bob Giuda comments that this year meeting was a lot better than last
Communication is the biggest problem he sees from the board and from the members
Things to put on agenda for next board meeting:
*Committees
* Dredging
* Capital reserve
*Reserve fund
*Tami Lift
*Live aboard fee
*Slip 10 fix posts
*Clean up leaves
*Patio
Then roll over end of year
*Gate for fence for club security
Missy Croteau made a motion to adjourn-Karen Black second
Adjourned at 12:23 PM