CSF BOD Meeting Minutes

Thursday, September 18, 2025

6:42 PM

Attendees:

1. Club update.

a. Boats & Kayaks in good shape - no repair issues. Minor groundings only.

2. Finance & Operation Committee Update and Treasurer’s Report

a. $72K in bank

b. CD increased to $50K this year, 3.5% interest. Matures 8/26

c. Net income $6,100 YTD. $5,200 depreciation expense to be recognized later in year plus Fall cocktail party expense.

d. Modest depreciation expense remaining for 2026

e. Membership Income up vs. last year

i. $23K income last year, $24K income this year

f. Largest expenses $7,900 for insurance. Nest largest expense $6,800 for summer Lobsterfest party

g. $1,200 interest income from CD and higher money market rate

h. Reserve of $50K retained for boat replacement. $30K estimated cost for new Ideal 18.

i. Fall Cocktail party = $3-4K expected expense

3. Annual report to Maintain Corporate Status

a. Filed with Sec'y of State by R. Claiborne

4. Membership Update

a. 82 household members this year, up from 75 last year

b. Near highest ever level of membership

c. 54 sailing, 28 kayak members

d. 22 prospects, 10 did not complete or follow through

e. Point: still seem to be without capacity concerns

f. Point: Ideals frequently not reserved on weekends

g. Point: may want to increase charge for weekday sailing members

5. Kayak reservation system update

a. Current app being discontinued 11/15/25

b. New prospect identified by M. Andrews and L. Reilly

c. Other apps to be reviewed and tested

d. One option: to employ current sailing reservation system. Will inquire about feasibility and cost

6. Social Events Update

a. Lobsterfest a success. About 100 attendees. Caterer was less efficient than prior years.

b. Cocktail Party: Oct. 26 scheduled

7. Derigging

a. Oct. weekend to be confirmed