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Richland Swim Club 2010 Annual Meeting

Richland Swim Club 2010 Annual Meeting. July 2010. AGENDA. Call to Order Roll Call and Establishment of Quorum Appointment of Recording Secretary Approval of Agenda Election of Nominating Committee Nominations from Floor Tabulation of Votes Election of Audit Committee

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Richland Swim Club 2010 Annual Meeting

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  1. Richland Swim Club 2010 Annual Meeting July 2010

  2. AGENDA • Call to Order • Roll Call and Establishment of Quorum • Appointment of Recording Secretary • Approval of Agenda • Election of Nominating Committee • Nominations from Floor • Tabulation of Votes • Election of Audit Committee • Nominations from Floor • Tabulation of Votes

  3. AGENDA (con’d) • Board of Directors Reports • President • Pool Manager • Building & Grounds • Social\Concessions • Financial Report • Voting Results • Dues Increase • Bylaw revisions • New Business • Adjournment

  4. 2009/2010 Challenges • New Board Members • 5 of 9 new in 2010 • Two positions currently open • Two Audit positions open • Snack Shack Deficit • Annual deficit of over $20,000 per year during prior two tears (Expenses exceeded income) • Backflow correction and new pool heater cost $67,000 during 2 year period.

  5. 2009/2010 Accomplishments • Cost Improvements • Gas utility savings ($600/mo) • Phone expense($122/mo) • Insurance rates/coverage($100/mo) • Pest control/electrical inspection($50/mo) • Competitive bidding for pool paint/caulking($2,000) • Control hours on snack shack, guards front desk personnel • Increased home rental income • Winter plow rate reduced by 50%

  6. 2009/2010 Accomplishments • Service/Facility Improvements • Pool Edging painted w/ anti slip stripe. Lane lines re-done. • Tennis courts repaired and 2 new posts/net. • Office carpet replaced, painted. • Locker rooms painted and lighting replaced • Pump room repairs and pool lighting • Caulking on main/baby pool completed. • Electrical bonding of the pool • Vacuum for main pool repaired • Fans repaired/cleaned • Consolidated food vendor . Pepsi back.

  7. Financial Concerns During the last 3 years revenue has decreased by 5.9%. Expense has increased 12.3% during the same period. Hourly payroll up 16.3% (Min wage up 23.9% same time period) Facility repairs up $30,000 total in 2008/09

  8. 2010 June YTD YTD income up $3847 or 2.2% YTD Total expense down $14,034 or 14.2% Payroll cost down $6,444 or 29.6% Total other expense down $7,590 or 9.8%

  9. Since 2010 is doing Better, Why raise our Dues • Even with improvements made, we hope to B/E in 2010 • Year end Cash on hand is down from $155k (2007) to $60k (2009) • Finances not in a position to absorb a significant emergency repair • Even with tight expense controls initiated in 2010 labor, repair costs to the pool and rental property will continue to increase • Further Improvements to the facility will be limited without the increase

  10. Needed Capital Improvements • Main pool\Baby pool floor repairs • Rental home – general repairs (basement \ S&F - porch ceiling) • baby pool filter repairs • concession stand needs • soffit and fascia  Bathhouse • Diving board (replacement) • Light Standards – repairs \ painting

  11. THANKS for Coming QUESTIONS?

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