Attendees:
Dan Meade, Sharon Walker, Richard
Grieves, Howard Koester, Steve Shanklin, Dave Armitage, Mike Morgan and
Christine Whitehurst. Guests;
26
SBCA members
and
staff.
Meeting called to order at 9:00
a.m. by President Dan Meade.
Determination of quorum.
All present.
MSP to approve
June 4, 2010 minutes.
(All ayes)
Financial report
Chris Whitehurst reported the financial
highlights for
May,
showing the Total Current Assets for the month to be $334,874.47, Total
Assets to be $620,916.10.
An increase of $27,493.63 over last year’s Total Assets. The Income
Statement for
May
2010 showed total revenues of $7,850.78
and Total Operating Expenses of $30,447.43 and a Net Operating Surplus of $26,770.76
for the fiscal year through May.
(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 $205,080.89: expense of
$3365.00 for banquet tables and $1053.65 to power wash tennis courts;
and the Renovation Fund is $64,343.20: expense
$586.99 for conference room baseboards.
MSP to approve the financial report.
(All ayes)
Committee Reports:
No motions
Old Business:
Revenue
MSP ..Authorize Mike to negotiate group rates, increase the basis of negotiation
from $1.00 to $1.25 per person.
(5 ayes & 1 nay)
Open meeting
adjourned at 11:58
a.m.
Move to Executive Session to discuss legal matters.
Close Executive Session at 12:19.
Open Regular Session at 12:20.
Regular Meeting Adjourned at 12:20
Respectfully submitted:
Christine Whitehurst
Board Secretary/Treasurer
Attachments:
Financials
Next regular
Board meeting:
August 6,
2010 9:00 a.m. Bay Club
Special & Committee meetings:
Facility &
Long Range Planning Meeting
July 14, 2010 10:30 a.m. Bay Club
SBCA ARC Meeting
July 12, 2010 9:30 a.m. Bay Club
SBCA ANNUAL MEETING
Financial Reports May 2010 Income Stmt. Bal. Sheet