Title: MAPLE BAY YACHT CLUB NOVEMBER 7TH INFORMATION MEETING
1MAPLE BAY YACHT CLUB NOVEMBER 7TH INFORMATION
MEETING
- WHAT HAS BEEN DONE
- WHAT NEEDS TO BE DONE
2Agenda
- Welcome!
- 2007 Accomplishments
- Where do we want to go (LTP)
- Where have we been
- What do we need to do
- AGM Proposals
- Questions and Answers
32007 ACCOMPLISHMENTS
- Marine
- F- DOCK COMPLETED
- Under Budget Due to volunteering and wooden
design - B-DOCK READY FOR DELIVERY
- Within Budget
- Electrical Project finished (incl. computerized
billing system) - YEAR END
- Within budget, no deficit passed on to new
executive for 2008 - By End of 2007 we will have .
- House Grounds
- Solid business practices
- New secure Computer system, Wireless Internet,
Web-hoster, Webcam and a Computer in the
Clubhouse for members - New Metal Roof
- Redecorating of the clubhouse
- Repaired driveway drainage around clubhouse
4And more
- Cruises, Opening Day, Regatta, Appy Hours and
much more! - Community Outreach
- Cowichan Sail Power Squadron
- Coast Guard Auxilary
- Rotary
- Success by 6
- Carols Afloat
- Local school children learning about marine life
- Club Boats transporting school children on other
Islands - And We had a great time!
5WHERE DO WE WANT TO GO?
- LONG TERM PLAN - CAPITAL PROGRAM
- ASSUMPTIONS USED
- The club membership has not grown substantially
in the last ten years - The demographics for our focus region of
membership is aging, moving to more affluent
retirees. - The existing facilities have been adequate to
date, but if anything under utilized.
6WHERE DO WE WANT TO GO?
LONG TERM PLAN - CONTENT HG PROJECT YEAR ASS
UMED COST 1 Deck resurface and repair 07 Last
years budget (carry forward) 2 Drainage
for the parking lot 08 30000, 3 Dining room
acoustics 08 6,000 4 Power upgrade 08 25,000
5 Kitchen equipment 08 15000 6 Deck cover
(roof) 09 15,000 7 Gate, fence, card entry
General Security 09 25,000 8 Repave lower
parking lot 09 20,000 9 New main
entrance 10 20,000 10 Develop new
washroom 11 20,000 11 Office expansion 11 15,0
00 12 Expand kitchen 12 40,000 13 Lawn
Tractor Replacement 12 3000
7WHERE DO WE WANT TO GO?
- LONG TERM PLAN CONTENT Marine
8WHERE DO WE WANT TO GO?
- LONG TERM PLAN CONTENT Marine
- WHAT IS MISSING ?
- MOORAGE EXPANSION
- IS THERE A NEED?
9WHERE DO WE WANT TO GO?
- MARINE FACILITIES EXPANSION NEED
- HISTORY - June 9 1925
- The objects of the club are - To promote amateur
boat racing, both motor and row boats in
addition to be a social club to provide bathing
facilities for members and for storing boats and
their equipment. - 1996 MBYC MISSION STATEMENT
- The purposes of the club shall be
- to provide moorage facilities for the benefit of
members - Slips Available 200
- Slips required 290
- Based on an interpretation of the wait list of
who would take a slip tomorrow if offered.
10WHERE HAVE WE BEEN
- Initiation Funds
- Dock Project
- Operating Funds
11WHERE HAVE WE BEEN?
- At last years AGM we informed members that our
financial outlook has been seriously
deteriorating over the past few years.
12WHERE HAVE WE BEEN?
- Last 6 years net income (2006 AGM)
- What's Changed
13WHERE HAVE WE BEEN?
- In 2007 the executive seriously curtailed
spending on budgeted programs - This has resulted in being on budget, but at the
expense of neglecting marine and house programs. - We expect that we need to get back on track with
required programs and fix this deficit situation,
or the financial consequences for the club will
be serious.
14WHAT DO WE NEED TO DO?
- Revenue for the club can come from only two
significant sources. - Moorage and Dues.
- Both need to be adjusted.
15WHAT DO WE NEED TO DO?
- HOW MUCH IS ENOUGH?
- Our current operating loss is in the neighborhood
of 26,000/yr (subject to yearly audit), which
includes several funding cutbacks. - Our current Long Term Plan considers moderate
improvements which require 83,000/yr. This is
offset by initiation fees which historically run
30,000/yr. - General costs are expected to increase in the
order of 3 per year. - Wages are increasing and we can expect that trend
to continue, at least to the tune of 3 per year,
with a 10 catch up required for 2008.
16WHAT DO WE NEED TO DO?
17WHAT DO WE NEED TO DO?
- FORECAST EFFECT ON BUDGET (If we do nothing)
18PROPOSED ADJUSTMENTS
- Membership fees
- 100 increase per couple membership commencing in
2008/09 - Moorage fees
- 1.00 per foot increase for covered and open
moorage
19EFFECTS OF ADJUSTMENTS OVER 5 YEARS
20FINAL WORDS TO LEAVE YOU WITH
- This increase solves the problem for two to three
years - The change depletes our Capital Fund Surplus
- It will be necessary for the incoming Executive
to begin to plan the next increases which deal
with the diminishing capital reserves
21ARE WE ALONE? NO! OTHER CLUBS FACE DIFFICULT
AJUSTMENTS ALSO
22PROPOSALS FOR AGM
- NOTE this is the slide we forgot to put in the
presentation, added as a place holder by Andreas - Initiation Fees proposed raised to 3000 for
regular Couple
23PROPOSALS FOR AGM
- Membership Categories
- Regular members
- Intermediate members
- Associate member
- Student
- Junior
- Senior 65 Members (Proposed discontinuation)
- Proposed
- Senior 65 year 20 years membership New!
- Social Member New!
24PROPOSED NEW MEMBERSHIP BENEFITS
- Proposed
- Senior 65 year 20 years membership
- Social
- Reciprocal at Other Yacht clubs
- 50 of regular dues
- Only one person of the couple needs to be 65 (or
older) - Social Member
- Social
- Reciprocal at Other Yacht clubs
- 75 of regular dues
- 50 of regular Initiation fee
25PROPOSALS FOR AGM
- Dues changes
- Regular couple membership
- Annual dues from 300 to 400 single 75
- Intermediate couple and single
- Same as regular membership
- Associate couple and single
- Same as regular membership
26PROPOSALS FOR AGM
- Moorage fees
- Annual 60 infrastructure fee to be discontinued
as of April 1, 2008 - 1.00 per foot/month increase overall (open
covered)
27 28YACHT CLUB COMPARISONS
29Electrical Project