2023 - 07 - Beacon

NCYC Regular Meeting Minutes April 13, 2023 Page 7 of 9

II. OLD BUSINESS

A. TIPS Training Update

V/C Romatz provided an update on TIPS training status.

B. Capital Project Update

R/C Burkhardt provided an update on various projects commencing at the Club.

C. Cash Reserve Investment and Banking Update A Cash Reserve meeting was held on March 20, 2023 to discuss moving money to an interest earning account. The cash reserve account will be changed to a money market account. $152,037.85 (currently in the Cash Reserve account) plus an additional $25,000.00 (15% of membership for 2023 ($25,143.75) will be transferred to this account. This account will earn 3% interest. The Cash Reserve committee unanimously agreed that the money will remain with 5/3 Bank so it can be immediately accessible if needed.

2023 Membership 190 Boating $142,500.00 24 Non Boating $9000.00 (possibly 1 additional, waiting on payment) 43 Senior $16,125.00 Total $167,625.00 15% = $25,143.75 Transfer to Cash Reserve

D. Pontoon Work Boat Update Al Douglas discussed the need for a pontoon working boat; requested approval from Board. Motion: Al Douglas to request approval of up to $5,000 to purchase a pontoon boat. Second: Mark Javery. Motion Carried

E. Comcast Service Update No update.

F. Incoming Rendezvous Schedule Added: Cleveland Yacht Club, July 26-27 Motion: P/C Hall to recommend approval of CYC rendezvous. Second: Al Douglas. Motion Carried

G. ABYA Dinner Dance at NCYC

Motion: P/C Hall request to obtain MLCC Special License for ABYA event. Second: Philip Maniaci. Motion Carried Motion: Philip Maniaci to allow attendees for ABYA Dinner Dance to arrive Friday night, June 2. Second: Terry Steinmacher. Motion Carried