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Members General Meeting, 21 April 2016

The agenda for the Mornington Yacht Club's general meeting on April 21st, 2016. Discussions on achievements, finances, sailing, constitution, and more.

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Members General Meeting, 21 April 2016

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  1. Members General Meeting, 21 April 2016

  2. Agenda Welcome – Graeme Alexander Apologies: Achievements – Graeme Alexander Finances– Jon Phillips Sailing – Chris Jackson Constitution – Steve Bardsley What’s on- Rod Austin Question time

  3. Achievements – Graeme Alexander Appointment of General Manager

  4. Achievements 2. We have developed:

  5. Mornington Yacht Club 2015-18 Strategic plan 16 May 2015

  6. Achievements 3. The Rocks: MYC have an agreement in principle for the Rocks (20th April 2016) to enter into an 8 year lease with 2 further terms of 5 years. The rental represents an initial increase of 33% on the current rental by the third year. In addition to the works to be undertaken by the Rocks at thoer own expense, the Rocks have committed $100,000 to beld in a trust account for refurbishment selection by the club. We will also have a management agreement confirming service levels etc…

  7. Achievements 4. Loans:

  8. Achievements 5. Slipway

  9. Achievements • Office renovation and Youth Training Centre • Membership – Upward Trend • 70th Celebrations • GOSS Launch and School teams Racing

  10. 3 Year Membership Review

  11. 70th Soiree 2016

  12. 70th Back To Mornington YC Day

  13. GOSS- 12 April 2016

  14. Achievements • 10. Submission to Council seeking advice as to the • Club leasing the Schnapper Point Café and • subletting the site to the current lessee • (Charles Morgan) and redeveloping the site to allow • the Rocks and café to increase their floor area possibly • over the café and they agree with our approach..

  15. Moorings A Working group is to commence this month to bring the moorings under proper management and to benefit all The working group is : Trevor Neate, Tim Melville, Graeme Taylor and Rod Austin

  16. Yard Peter DeLange departs next month and we thank peter for all his efforts assisting embers with his expertise over the many years No decision has been made as to the future direction of the yard and until then we are engaging with Richard McDonald to assist Keith Ross and his volunteer team with the Yard, slipping and whilst he promotes his business Mornington Marine.

  17. 2. Finance Report – Jon Phillips

  18. Finances EOFY 2015-2016 Balance Sheet (unaudited)

  19. FinancesCap Expenditure • Cap Expenditure - $87,482 • $1580 Data Projector Furniture & Equipment • $16,305.26 Office refurb – Building Works in progress • $9433.61 Computers Office and Race Office • $13,000 Sara Engine 115hp Mercury and fit out • $39,003Engines Retriever 2 x 150hp • $8160 Engine 60Hp Billy • Liabilities– Debts continue to be reduced.

  20. Finances P&L

  21. Finances P&L • Income: • Subscriptions and Capital Works Levy slightly down from LY? • Sponsorship – Up • Club House Venue Hire – Up • Championship Income – $14K 2015 YV Youth regatta. • Quarter Master – $2.4K Down. • Sailability Revenue and donations up • Sail Training – $17K up. • Race Entry $779 down • End of Season Function 70th Soiree March B/E • Summer and Winter Boat Storage up by $10K from LY

  22. Finances P&L • Expenses: • Payroll / Super - GM salary commenced 23 July 2015. $78K higher • Strategic Planning $5455 • Optimist Shed – $6231 Replace Roof unbudgeted but had been approved. • Slipway Maintenance Industrial Divers – $50,295 • Moorings Greg Fink $2196 higher cost to repair MYC Moorings than LY. • Accounting Services – Treasurer assistance April 2015 • Computer Maintenance – Up $1K • Printing and Stationary Up $2630 Advertising promo flyers/invites/birthday • Presentation/Tributes – Honour Boards $616 , RSL- Carousel in Park $370 • Social – Soiree B/E • Sail Training $8.8 K Up Net (loss $19K) LY Net (loss $24K) • Bank – Borrowing Cost $8408 LY $Nil

  23. 7 Year Budget • Capital • Operational Treasurer Jo Phillips spoke of the 7 year Budget and the positive cash flow that can be expected going forwards. Both were budgets were presented in detail but not to be uploaded to web. Members will receive a Budget Summary asap

  24. 3. SAILING – Chris Jackson

  25. Fleet Sizes Twilight Racing: Conclusion: more members & visitors enjoyed the Twilight Series this last season than the previous one.

  26. Club Marine Championship 2016

  27. School Teams Racing 2016

  28. MYC 2015-2016 Champions Plenty of them and here is just a few……….

  29. 4. Constitution – Steve Bardsley

  30. MYC Incorporation and the History of Companies Law in Victoria. To understand why we need to have a new constitution one needs to understand a bit about the history of the Club's incorporation. The Club was incorporated in September 1964 under the Companies Act 1961 Victoria some 18 years after formation. Why did this occur? To limit members' liability as the Club was incorporated as a company limited by guarantee. Why was this so important? Legal action taken against another club resulted in all their members having to contribute financially to a settlement. The Yachting Council of Victoria now Yachting Victoria recommended to clubs that they incorporate so that their members' liability was limited. Under our current Articles of Association that amount is 1Opds. However in the mean time the Commonwealth and State Governments were making attempts to bring State company's acts together under a uniform Commonwealth Act. This led to a national/federal/commonwealth Corporations Act 1989. The Corporations Act 2001 (Cth) superseded the Corporations Act 1989 (Cth) to become the legislation governing corporations today. This was only enacted following a reference of power by the States through State legislation transferring corporation's power to the Commonwealth. Companies Act 1961 Victoria was repealed February 2010 and our incorporation was brought under the Commonwealth Corporation Act 2001 which remains in force today. Today MYC although having Memorandum and Articles of Association dated 1964 is still subject to the Corporations Act 2001. The revision of our constitution is therefore to make the document relevant to the current law and revise some concepts that are no longer in vogue with those of 1964.

  31. Where is a new constitution now? Draft 1 was presented to the General Committee at its October 2015 meeting. It was agreed that this document would be sent out for a legal review. The General Committee received the reviewed draft with comments at its December meeting and the Corporate Governance sub-committee has now implemented the recommended changes to produce a final draft for consideration of the membership. When will the members get to view this final draft? Here it is now, please see the copy attached. When will the members vote to adopt the new constitution? The final document will be an item of special business for the AGM in June this year. Stephen J. Bardsley, Chairman, Corporate Governance Sub-Committee.

  32. Upcoming Events – Rod Austin

  33. Slipping Day , Help Required Thursday May 5th from 7.30am – Clearing of Yard Saturday May 6th from 7.30am

  34. Upcoming Events Sunday 29th May 12.30pm Presentation Day & Lunch Sunday 19 June 11am, MYC AGM

  35. Charity Film Screening for The Bays Special Care Nursery Monday 15 August 6pm to 9pm Fully n Pushing A tale of the Hobart Cocktail party at The Rocks followed by movie screening at Mornington Cinema

  36. Question Time Thank you for your interest and attendance

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