Attendees:
Dan Meade, Sharon Walker, Richard
Grieves, Howard Koester, Steve Shanklin, Dave Armitage,
and Christine Whitehurst. Guests,
20
SBCA members
and staff and interior decorator.
Meeting called to order at 9:00 a.m. by President Dan Meade.
Determination of quorum.
MSP to approve January 8, 2010 minutes. (All ayes)
Financial report
Chris Whitehurst reported the financial
highlights for
December,
showing the Total Current Assets for the month to be $323,027.51,
Total Assets to be $588,371.69.
An increase of $29,997.83
over last year’s Total Assets. The Income Statement for
December
2009 showed total revenues of $8,326.98
and Total Operating Expenses of $36,632.70 and a Net Operating Surplus of $7,652.34
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 $202,941.00 and the Renovation Fund is $74,779.55.
MSP to approve the financial report. (All ayes)
Committee Reports:
Long Range Planning committee chair Dave Armitage moved the Board approve the spending of $22,000 for the Conference Room upgrade and $7,000 to install handicap door openers on the front door and men’s and women’s bathrooms next to the Great Room. (All ayes)
Open Meeting adjourned at 10:25 a.m.
Respectfully submitted:
Christine Whitehurst, SBCA Secretary/Treasurer
Attachments: Financials
Next regular Board meeting:
March 5, 2010 9:00 a.m. Bay Club
Special & Committee meetings:
Facility & Long Range Planning Meeting
February 17, 2010 10:30 a.m. Bay Club
SBCA ARC Meeting
February 19, 2010 9:30 a.m. Bay Club
Financial Reports December 2009 Income Stmt. Bal. Sheet