MAPLE BAY YACHT CLUB NOVEMBER 7TH INFORMATION MEETING

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MAPLE BAY YACHT CLUB NOVEMBER 7TH INFORMATION
MEETING

• WHAT HAS BEEN DONE
• WHAT NEEDS TO BE DONE

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Agenda

• 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

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2007 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

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And 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!

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WHERE 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.

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WHERE 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
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WHERE DO WE WANT TO GO?

• LONG TERM PLAN CONTENT Marine

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WHERE DO WE WANT TO GO?

• LONG TERM PLAN CONTENT Marine
• WHAT IS MISSING ?
• MOORAGE EXPANSION
• IS THERE A NEED?

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WHERE 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.

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WHERE HAVE WE BEEN

• Initiation Funds
• Dock Project
• Operating Funds

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WHERE HAVE WE BEEN?

• At last years AGM we informed members that our
  financial outlook has been seriously
  deteriorating over the past few years.

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WHERE HAVE WE BEEN?

• Last 6 years net income (2006 AGM)
• What's Changed

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WHERE 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.

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WHAT DO WE NEED TO DO?

• Revenue for the club can come from only two
  significant sources.
• Moorage and Dues.
• Both need to be adjusted.

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WHAT 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.

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WHAT DO WE NEED TO DO?

• We need to take action!

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WHAT DO WE NEED TO DO?

• FORECAST EFFECT ON BUDGET (If we do nothing)

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PROPOSED ADJUSTMENTS

• Membership fees
• 100 increase per couple membership commencing in
  2008/09
• Moorage fees
• 1.00 per foot increase for covered and open
  moorage

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EFFECTS OF ADJUSTMENTS OVER 5 YEARS
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FINAL 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

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ARE WE ALONE? NO! OTHER CLUBS FACE DIFFICULT
AJUSTMENTS ALSO
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PROPOSALS 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

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PROPOSALS 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!

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PROPOSED 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

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PROPOSALS 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

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PROPOSALS 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)

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• Questions and Answers

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YACHT CLUB COMPARISONS
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Electrical Project