Bedford Basin Yacht Club 2017 AGM Nominating Committee Board of - PowerPoint PPT Presentation

Bedford Basin Yacht Club 2017 AGM

Nominating Committee Board of Directors Elect 2017/2018 � Commodore Dave Hackett � Vice Commodore House David Clark � Vice Commodore Operations Craig Sooley � Vice Commodore Finance Tracy Tees � Rear Commodore Andrew Mitchell � Learn To Sail Rob Sasco � Membership James Trimm � Events Mary Beth Fenton � Communications Donna Lugar � Member at Large Hunter VanLeuwen � Secretary Mike Sasco

Nominating Committee Long Range Planning Committee (LRPC) 2016/2017 � Ray Kennedy � Jamie Trimm � Denzelle Sheppard � Dave Hackett, Commodore

Commodore’s Report 2017 Highlights

Commodore’s Report � Comradery has been evident this year, members seem pleased with the club and its operation � Addition of a new Club Manager, Kim Lipsit � Addition of a new POS system that allows Member Accounts � Addition of 21 new senior members, with an additional 9 already signed up for next year! � New WiFi equipment graciously donated by Rod Wark � Capt Cook BBQ’s well attended all year and the addition of a Member’s BBQ was well received

Commodore’s Report (cont) � Tennis Court land acquired by BBYC � South Seawall refaced � Electricity at the new yard plugs finally connected � Change of bank over to RBC � Wardroom Prepay – member comments please, shall we continue?

VP Finance Report 2017 Results & Highlights

2016/2017 Profit & Loss Statement YTD YTD YTD YTD Department Net Profit Income Expense Net Profit Budget Variance Membership & Administration $ 72,462.78 $ 79,516.95 $ (7,054.17) $ 3,898.00 $ (10,952.17) House, Wardroom & Entertainment $ 98,100.01 $ 109,602.28 $ (11,502.27) $ 5,960.00 $ (17,462.27) Yard, Marina & Marine Services $ 171,137.77 $ 159,838.72 $ 11,299.05 $ (4,849.20) $ 16,148.25 Race Committee $ 25,947.48 $ 21,572.39 $ 4,375.09 $ 2,650.00 $ 1,725.09 Learn-To-Sail $ 132,836.56 $ 96,116.41 $ 36,720.15 $ 11,900.00 $ 24,820.15 $ 500,484.60 $ 466,646.75 $ 19,558.80 Totals $ 33,837.85 $ 14,279.05 Actual Budget Variance 2016 Income Membership & Administration $ 72,462.78 $ 92,158.00 $ (19,695.22) $ 74,332.75 House, Wardroom & Entertainment $ 98,100.01 $ 100,900.00 $ (2,799.99) $ 81,161.07 Yard, Marina & Marine Services $ 171,137.77 $ 142,650.80 $ 28,486.97 $ 136,968.41 Race Committee $ 25,947.48 $ 20,000.00 $ 5,947.48 $ 21,225.97 Learn-To-Sail $ 132,836.56 $ 92,500.00 $ 40,336.56 $ 121,232.21 $ 500,484.60 $ 448,208.80 $ 52,275.80 $ 434,920.41 Total Income Expenditures Membership & Administration $ 79,516.95 $ 88,260.00 $ 8,743.05 $ 95,570.79 House, Wardroom & Entertainment $ 109,602.28 $ 94,940.00 $ (14,662.28) $ 88,897.09 Yard, Marina & Marine Services $ 159,838.72 $ 147,500.00 $ (12,338.72) $ 146,711.42 Race Committee $ 21,572.39 $ 17,350.00 $ (4,222.39) $ 16,878.20 Learn-To-Sail $ 96,116.41 $ 80,600.00 $ (15,516.41) $ 77,177.22 Total Expenses $ 466,646.75 $ 428,650.00 $ (37,996.75) $ 425,234.72 $ 19,558.80 Net Operating Profit $ 33,837.85 $ 14,279.05 $ 9,685.69 Non Operating items Depreciation Expense $ (24,972.00) $ (24,972.00) -$ 24,972.00 -$ 24,972.00 Total Non-Operating items Excess of Inc. Over Exp $ 8,865.85 -$ 15,286.31

Membership and Administration Net Loss of $7054, $10,952 under budget � Revenues of $72,463 � Expenses of $79,517 � Membership dues revenue was under budget partly due to the new 1/3 pricing, as well as fewer members � Joining fees were over budget –more news members � Less charges and interest and mainly, the manager salary was less than budget as there were a few months we didn’t have one

House, Wardroom and Entertainment Net Loss of $11,502, $17,462 under budget � Revenues of $98,100 � Expenses of $109,602 � Revenues were close to budget but Wardroom expenses were well over budget � This will be looked at carefully in the new year

Yard, Marina and Marine Services Net profit of $11,299, $16,148 over budget � Revenues of $171,138 � Expenses of $159,839 � Yard revenue over budget by $14,026. This includes launch, haul and storage. � Marina revenue over budget by $5750 � Marine Service revenue over by $8712. This includes moorings and tender service � This indicates more activity as well as billing and collecting for all services � Expenses were over budget due mainly to all the mooring work that was done

Race Committee Net Profit of $4375, $2650 over budget � Revenues of $25,947 � Expenses of $21,572 � Hosted 2 youth regattas that were well done

Learn to Sail Net profit of $36,720, $24,820 over budget � Revenues of $132,837 � Expenses of $96,116 � Adult and Junior revenues were well over budget. � We received a wage subsidy which wasn’t budgeted for. � Expenses were over budget due to the purchase of a new rib, opti and outboard engine.

2017 2016 ASSETS Cash $ (9,707) $ (9,489) Capital Replacement Reserve Account (Note7) $ 2,184 $ 2,120 LTS Fundraising Account $ 951 Accounts receivable $ 20,052 $ 26,633 Inventory (Note 2 & 11) $ 4,785 $ 4,785 Prepaid expenses and other assets $ 5,604 $ 4,575 Balance $ 22,917 $ 29,575 Capital assets (Note 3) $ 1,156,684 $ 1,181,656 $ 1,179,601 $ 1,211,231 Sheet LIABILITIES Current Bank indebtedness (Note 4) $ 122,201 $ 169,647 Accounts payable and accrued liabilities $ 36,704 $ 32,219 Deferred revenue (Note 2) $ 41,322 $ 34,336 Ladies Sailing Fund (Note 5) $ 24,720 $ 25,482 Harry Barnes Corinthian Fund (Note 6) $ 24,466 $ 24,224 Debentures Matured $ - $ 249,413 $ 285,909 Marina deposits payable $ 61,500 $ 65,500 $ 310,913 $ 351,409 NET ASSETS Members' bonds (Note 8) $ 146,340 $ 146,340 Members' equity $ 722,348 $ 713,482 $ 868,688 $ 859,822 $ 1,179,601 $ 1,211,231

Seven Year Comparison 2017 2016 2015 2014 2013 2012 2011 REVENUES: $ 72,463 $ 74,333 $ 95,266 Membership and Administration $ 92,000 $ 84,605 $ 86,473 $ 72,527 House, Wardroom and Entertainment $ 98,100 $ 81,161 $ 115,654 $ 120,404 $ 131,985 $ 99,656 $ 66,021 $ 171,138 $ 136,968 $ 145,091 Yard, Marina & Marine Services $ 155,470 $ 124,719 $ 120,558 $ 89,240 $ 25,947 $ 21,226 $ 14,898 Race Committee $ 15,944 $ 18,649 $ 23,902 $ 27,042 Learn-To-Sail $ 132,837 $ 121,232 $ 78,824 $ 55,356 $ 52,734 $ 61,403 $ 86,106 $ 500,485 $ 434,920 $ 449,733 $ 412,693 $ 391,992 $ 340,936 $ 439,173 EXPENDITURES: Membership and Administration $ 79,517 $ 95,571 $ 96,127 $ 88,792 $ 97,943 $ 95,548 $ 90,514 House, Wardroom and Entertainment $ 109,602 $ 88,897 $ 109,564 $ 122,150 $ 115,630 $ 108,222 $ 111,412 $ 159,839 $ 146,711 $ 149,890 Yard, Marina & Marine Services $ 133,601 $ 112,723 $ 106,996 $ 126,118 $ 21,572 $ 16,878 $ 13,636 Race Committee $ 11,204 $ 27,820 $ 28,513 $ 19,443 $ 96,116 $ 77,177 $ 60,032 Learn-To-Sail $ 57,922 $ 52,889 $ 55,525 $ 63,530 $ 466,647 $ 425,235 $ 429,248 $ 413,668 $ 407,006 $ 394,804 $ 411,017 Excess of revenue over expenditures (expenditures $ 33,838 $ 9,686 $ 20,484 $ 25,505 $ 5,688 $ (2,812) $ (70,082) over revenue) Non Operating items Write off Debentures Matured $ 5,095 Depreciation Expense $ (24,972) $ (24,972) $ (24,972) Total Non-Operating items $ (24,972) $ (24,972) $ (19,877) $ 8,866 $ (15,286) $ 607 Excess of Inc. Over Exp

Proposed 2017/2018 Budget 2018 2017 2016 2015 2014 2013 2012 2011 Income Budget Actual Actual Actual Actual Actual Actual Actual Membership & Administration $78,467.00 $72,462.78 $ 74,332.75 $ 95,266.44 $ 91,999.95 $ 84,604.76 $ 86,473.00 $ 72,527.00 House, Wardroom and Entertainment $103,717.00 $98,100.01 81,161.07 115,653.76 120,403.72 131,985.39 99,655.98 66,020.70 $171,137.77 136,968.41 145,090.52 155,469.52 124,719.44 120,558.35 89,239.50 Yard, Marina & Marine Services $171,305.00 $25,947.48 21,225.97 14,898.01 15,943.77 18,649.42 23,901.81 27,042.23 Race Committee $19,700.00 Learn-To-Sail $137,250.00 $132,836.56 121,232.21 78,824.00 55,355.61 52,734.44 61,402.85 86,106.15 $ 510,439.00 $ 500,484.60 $ 434,920.41 $ 449,732.73 $ 439,172.57 $ 412,693.45 $ 391,991.99 $ 340,935.58 Expenditures Membership & Administration 85,780.85 79,516.95 $ 95,570.79 $ 96,126.73 $ 88,791.57 $ 97,942.60 $ 95,547.82 $ 90,514.35 House, Wardroom and Entertainment 110,583.00 109,602.28 88,897.09 109,563.95 122,149.79 115,630.30 108,221.58 111,411.62 Yard, Marina & Marine Services 165,396.36 159,838.72 146,711.42 149,889.59 133,600.50 112,723.09 106,995.82 126,117.59 21,572.39 16,878.20 13,636.42 11,204.14 27,820.40 28,513.31 19,443.28 Race Committee 15,748.12 Learn-To-Sail 103,072.68 96,116.41 77,177.22 60,031.78 57,921.62 52,889.23 55,525.34 63,530.39 480,581.01 466,646.75 $ 425,234.72 $ 429,248.47 $ 413,667.62 $ 407,005.62 $ 394,803.87 $ 411,017.23 Excess of Inc. Over Exp $29,857.99 $33,837.85 $ 9,685.69 $ 20,484.26 $ 25,504.95 $ 5,687.83 $ (2,811.88) $ (70,081.65)