Gilford Yacht Club Board Meeting
December 4, 2024
1:39 pm
In Attendance,
Dave Almstrom, Svend Filby, Tim Matyuf, Dimitry Zhivotovsky, Steve
Wilson and Dave Johnson
Tim made a motion to call Al Posnack regarding his request to put our
money in some type of money market fund.
Al spoke on speaker phone of his feelings that we need to be investing
GYC’s funds. The board spoke of its past decision to let our accountant
decide how GYC money is handled. We were to have Steve Geer at our
last meeting to discuss this matter, but because of an objection from a
member regarding a bylaw technicality, this meeting had to be cancelled. Al
was not happy with this decision and wanted to make a phone call to our
accountant to find out why we cannot put GYC’s money in a money market
account. All board members agreed that we did not want to start opening
up GYC accounts outside the control of our accountant. The board told Al
that we would have GYC’s accountant at the annual meeting in June to
answer all his questions. Al did not want to wait this long. Dave J offered
that the next time he talks with the accountant’s office he would ask Steve
Geer regarding this issue and would get back to Al. The board offered the
possibility of having a phone conversation with Steve Geer During our first
quarterly board meeting.
The board agreed that future GYC emails will be sent BBC (blind copy) to
keep member’s email addresses private.
Any email from owners the board receives that need an additional
response, will be sent to all board members for input.
Next on the list was the DES report that has been sent to members and
added to GYC web site. The board was very happy with the outcome of
the report. We thank Dave J for staying on top of this issue.
The board then discussed the update from the Capital Reserve Committee
which was supplied to the board before the meeting (everyone who
attended the meeting had a copy) and the board unanimously agreed to
dissolve the committee. Tim Matyuf with contacts in marine construction
and Dave Johnson with 35 yrs in many GYC capital improvement projects
will handle the capital reserve. Dave J also has an excellent rapport with
DES which has proved invaluable.
Dave Almstrom spoke that because the budget not being ratified for 2024,
the Dues and capital reserve must stay the same. Dues $1000.00 and
reserve $400.00. It was decided that during the June annual meeting the
board would ask membership if they wanted to increase or decrease the
amount contributed to the capital reserve in 2025. Dave A also spoke
about the fact that we have some excess money in checking, and he will
talk to our accountant about what to do with it.
Tim brought up the lake was very low this year and no boat had a problem
moving around the marina or going thru the channel.
Dave J spoke to make sure we send out the 2025 budget to members
according to the by-laws and with enough notice before the annual
meeting.
No later than 30 days from adopting the 2025 budget the board will provide
a summary of the budget to owners. At the same time the board shall set a
date not less than 10 days or more than 60 days after providing the budget
for owners to ratify the budget.
Tim wants the board to let our Lawyer Ducharme know that he is the GYC
lawyer and should not be answering members’ questions and billing GYC.
Our Accountant would like to talk to members at the annual meeting
regarding changing the fiscal year from Jan 1 to Dec 31.
Send board minutes by email to members and also Svend will put on
website
Board adjourned at 2:40