APRIL 2016 BEACON

NCYC Regular Meeting Minutes Page 4 of 10

As a follow-up to your question at our recent Board meeting, I have prepared a brief summary regarding the impact of the Member Loan transaction on 2016. It is particularly important, especially in discussion with any members, to distinguish between the P&L effect of the transaction and the cash effect on 2016. Keep in mind, this reference only compares the effect of 2016 projected results vs. 2016 Budget, and does not include any anticipated effect on 2017 when the Notes mature. Hopefully this helps understand better the effect of the various components of the transaction on the 2016 P&L and Cash Flow.

ABYA Report:

P/C Brian McEvoy

ABYA update by Brian, no notes forwarded. Passed law born before 1996, boater safety certificate required. Registration transfer after boat sale and the liability Spring dinner dance June 3, 4, Motion to approve Brian, seconded, motion carried. Great lakes cruising club at NCYC Sept, 12. Motion to approve Brian, seconded, motion carried ABYA, IN Midland, $ 100 for support, Motion to approve Brian, seconded Ian Blackburn. Commodore, Chuck Stroh Inter-Lake Yachtsmen’s Fund request for a donation of $1.00 per NCYC member. Motion was made to approve. Motion not approved. JBM request for Rendezvous for July 15 th Motion by Bill Calihan second by Brent Malik motion approved. Winsor Yacht club Rendezvous – Motion by Kim Miedema to allow for July 8th no seconded Motion did not pass. Birmingham Power Squadron rendezvous request for June 10 thru 12th Motion by Randy Pagel seconded by Brent Malik motion approved. Harborview Yacht Club Rendezvous for August 5 th to 7 th Motion Kim Miedema seconded Tom Martin Motion approved. CURRENT BUSINESS Activities : Brian Fringer – No report. Clubhouse - Scott Greenfelder Motion carried. Correspondence: