Attendees: Dan Meade, Sharon Walker, Richard Grieves, Howard Koester, Steve Shanklin, Dave Armitage, Mike Morgan and Christine Whitehurst. Guests, 13 SBCA members and staff.
Meeting called to order at 9:00 a.m. by President Dan Meade.
Determination of quorum.
MSP to approve December 4, 2009 minutes. (All ayes)
Financial report
Chris Whitehurst reported the financial highlights for November, showing the Total Current Assets for the month to be $350,912.66, Total Assets to be $616,948.34. An increase of $42,880.19 over last year’s Total Assets. The Income Statement for November 2009 showed total revenues of $11,379.87 and Total Operating Expenses of $31,603.54 and a Net Operating Surplus of $35,958.06 for the fiscal year. (Note the surplus is always high the first month of the quarter due to the majority of dues being paid during that month, while expenses are very consistent month to month). The Maintenance reserve is $202,661.10 and the Renovation Fund is $74,722.56.
MSP to approve the financial report. (All ayes)
Committee Reports:
No motions
Open Meeting adjourned at 10:18 a.m.
Move to Executive Session
Executive Session opened at 10:25 a.m.
Discussion of staff compensation
Executive Session adjourned at 10:45 a.m.
Open Meeting reconvened and adjourned at 10:45 a.m. by President Dan Meade.
Respectfully submitted:
Christine Whitehurst, SBCA Secretary/Treasurer
Attachments: Financials
Next regular Board meeting:
February 5, 2010 9:00 a.m. Bay Club
Special & Committee meetings:
Facility & Long Range Planning Meeting
January 20, 2010 10:30 a.m. Bay Club
SBCA ARC Meeting
January 15, 2010 9:30 a.m. Bay Club
Financial Reports November 2009 Income Stmt. Bal. Sheet