Annual General Meeting Agenda Monday Nov. 5

Barnet Sailing Cooperative – Annual General Meeting, November 5, 2018

7:30 PM Burnaby Winter Club

Agenda

  • Quorum is required (minimum of ¼ of the paid up membership AND 10 persons)
  • Please ensure you have signed in and have a voting card (1 per member/family)
  • Only paid up members for 2018/2019 will be eligible to vote.
  • Quorum will be verified after the meeting when all cheques have been received and cashed.

 

 

Call to order

Adoption of the Minutes of 2 previous membership meetings (Minutes are posted on this website):

  • Minutes from September 10
  • Minutes from October 1

Review of business arising from 2017 AGM

Reports: (5 minutes maximum please)

President

Membership

Cruises

Orientation

Social

Long Term Bookings

Fleet Report

Treasurer

Reports of Standing and Special Committees:

 

Elections of Executive:

Chair: _______

 

Executive Positions—subject to amendments before AGM
Position Name 2018/2019 Nominations to date
Executive-Officers
President Fred Nolte Fred Nolte
Treasurer Jan O’Brien Steve Cook
Secretary Ken Murray Ken Murray
Executive-Directors
Fleet Captain Michael Quick Michael Quick
Vice President Joel Westereng Joel Westereng
Long Term Bookings Shawna Little Shawna Little
Orientation Tom Mayson Tom Mayson
Cruises John Binns John Binns
Social Coordinator Kim Lepp Rebecca Frame
Membership Coordinator Gabriel Mora Gabriel Mora
Member at Large VACANT Vitali Didenko
Member at Large Graham Dalton Graham Dalton

 

Presentation of the 2018 – 2019 (Fiscal 2018) proposed budget – (See statements attached below**)

Motions:

  1. Accept the Fiscal 2018 budget
  2. Accept proposed capital expenditures
  3. Minimum work hours to be completed by April 30 should be (80%) of 30 hours single/40 hours joint to be eligible for all sailing
  4. Rate for payment in lieu of work hours shall be $20 per hour.
  5. Sailing Permit Fees for 2019 – 2020 (Fiscal Year 2020) to increase by 2.5% rounded down to the nearest $5 as per past practice.

Awards:

Eager Beaver:

Helmsman:

Other Business:

Adjourn:

**Addenda: Financial Reports

Barnet Sailing Coop.
Year End Financial Statement
October 1, 2017 – September 30, 2018
(Subject to Review)
Income BUDGET ACTUAL
Membership Income:
Capital Assessment $6,825.00 $8,894.97
Joint Sailing Permit $19,895.00 $18,155.76
Membership fees $4,250.00 $7,214.31
Single Sailing Permit $32,240.00 $30,359.96
Hours Income
Waitlist $120.00
Total Membership $63,210.00 $64,625.00
Other Income:
General Income $500.00 $543.35
Interest $40.00 $34.06
Equipment Sale $1,500.00 $165.00
Socials $200.00 $1,368.00
Total Other $2,240.00 $2,110.41
Total Income $65,450.00 $66,735.41
Expenses
Insurance:
Directors’ Liability $940.00 $936.00
Vessel Protection & Indemnity $1,500.00 $1,500.00
Vessel Hull & Machinery $2,070.00 $2,148.00
Total Insurance $4,510.00 $4,584.00
Acitivity & Overhead
Advertising $300.00
Bank Charges $25.00
Boat Show $1,300.00 $1,689.05
Meetings/Membership $1,700.00 $1,723.17
Office Supplies $650.00 $654.42
Social Committee $350.00 $1,536.04
Web $180.00 $447.18
Radio Licence $216.00 $216.00
Total Activity & Overhead $4,721.00 $6,265.86
Moorage
Burrard Civic Marina $8,850.00 $9,706.67
Reed Point Marina $13,350.00 $13,946.97
Westport Marina $4,000.00 $3,818.54
Summer Marina $2,000.00 $1,093.05
Total Moorage $28,200.00 $28,565.23
Repairs, Maintenance & Capital Improvements
General Maintenance $2,804.78
Honeybee $2,600.00 $1,593.23
Jingersnap $3,800.00 $2,991.54
Mookie $2,600.00 $2,504.98
My Way $4,300.00 $2,667.83
Tinkertoy II $2,600.00 $3,276.87
Weekend Pirate $7,400.00 $6,457.85
Total Repairs, Maintenance & Capital Improvements $23,300.00 $22,297.08
Total Expense $60,731.00 $61,712.17
Net Income $4,719.00 $5,023.24
Version 2

 

Addendum 2: 2018 Balance Sheet

Barnet Sailing Cooperatve
Balance Sheet
September 30, 2018
(Subject to Review)
2016 – 2017 2017 – 2018
ASSETS
Current Bank – Vancity $13,711.36 $18,664.38
Deposits – Accounts Receivables $0.00 $0.00
Prepaid Expenses $0.00 $0.00
$13,711.36 $18,664.38
Fixed Assets – Fleet
Honeybee $14,000.00 $14,000.00
Jingersnap $14,863.00 $14,863.00
Mookie $13,000.00 $13,000.00
My Way $9,500.00 $9,500.00
Weekend Pirate $13,600.00 $13,600.00
Tinkertoy II $9,000.00 $9,000.00
Less Accumulated Depreciation -$13,499.17 -$12,230.32
$60,463.83 $61,732.68
TOTAL ASSETS $74,175.19 $80,397.06
LIABILITIES
Accrued Payables $318.83 $1,198.63
Beginning of the Year $87,204.00 $74,175.19
Net income/loss for the Year -$13,347.64 $5,023.24
End of Year $73,856.36 $79,198.43
TOTAL LIABILITIES & EQUITY $74,175.19 $80,397.06

 

Addendum 3: Draft 2019 BSC Budget

DRAFT
Barnet Sailing Cooperative BUDGET FY 2019
Income BUDGET
Membership Income:
Capital Assessment $8,000.00
Single Sailing Permit $34,650.00
Joint Sailing Permit $17,600.00
Membership fees $6,825.00
Hours Income
Waitlist
Total Membership $67,075.00
Other Income:
General Income $500.00
Interest $40.00
Equipment Sale $1,500.00
Socials $1,200.00
Total Other $3,240.00
Total Income $70,315.00
Expenses
Insurance:
Directors’ Liability $940.00
Vessel Protection & Indemnity $1,500.00
Vessel Hull & Machinery $2,150.00
Total Insurance $4,590.00
Acitivity & Overhead
Advertising $300.00
Bank Charges $25.00
Boat Show $1,500.00
Meetings/Membership $1,725.00
Office Supplies $650.00
Social Committee $1,500.00
Web $350.00
Radio Licence $216.00
Total Activity & Overhead $6,266.00
Moorage
Burrard Civic Marina $9,900.00
Reed Point Marina $14,280.00
Westport Marina $4,000.00
Summer Marina $3,000.00
Total Moorage $31,180.00
Repairs, Maintenance & Capital Improvements
General Maintenance Maintenance Capital Imp
Honeybee $4,894.77 Honeybee $2,350.00 $2,544.77
Jingersnap $6,814.54 Jinjersnap $2,450.00 $4,364.54
Mookie $2,500.00 Mookie $2,500.00 $-
My Way $7,150.00 My Way $2,350.00 $4,800.00
Tinkertoy II $2,350.00 Tinkertoy II $2,350.00 $-
Weekend Pirate $2,350.00 Weekend Pirate $2,350.00 $-
Total Repairs, Maintenance & Capital Improvements $26,059.31 Total Budget $14,350.00 $11,709.31
Total Expense $68,095.31
Net Income $2,219.69
Version 2
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