Board members present: B. Grant, B. Ibbetson, D. Warwick, S. Patterson, J. Van Cleave, J. Netzer, G. Collins, S. Skinner

Transcription

1 Newport Aquatic Center January Board of Directors Meeting January 16, 2018 Meeting called to order at 7:05 PM. Board members present: B. Grant, B. Ibbetson, D. Warwick, S. Patterson, J. Van Cleave, J. Netzer, G. Collins, S. Skinner President Remarks B. Grant asked the audience to be respectful of others and patient as the Board had a lot items to cover. Deferred his further comments to the end of meeting. B. Ibbetson asked that any attorneys present be announced. Paul Tobin, who represents Board members Ibbetson and Warwick in their recent law suit against the NAC was acknowledged as was David Dimitruk who represents the Board defendants (but it was uncertain as whether he was still present). Financial Procedures Update G. Collins provided an update on the engagement with TAG (financial planning resource). Met with staff, reviewed processes, have made recommendations (handed out) TAG representative summarized the document. Areas covered: Cash Receipts Credit Card Procedures Allocation Procedures (Revenue/Expenses) Statement of Functional Expenses Accounting Structure and Oversight Discussion ensued on the following topics: Cash and Credit Card Receipts S. Skinner asked bookkeeping staff (Malia) if they have kept all the receipts since this summer. Malia said yes (since August). D. Warwick asked staff if we (the Board) could get those receipts. Malia agreed. Discussion around the process of how receipts would be provided (from NAC or TAG). S. Skinner recommended that TAG be the conduit to providing those receipts given the lack of trust. S. Skinner asked TAG if they had any experience with an 501C3 that had posted receipts on a website for public viewing (recurring theme around trust and transparency). TAG representative suggested that could be overkill; cost and manpower may be more than necessary S. Skinner asked Malia if she could keep all receipts in a book for public review Malia responded yes S. Skinner questioned the Secret Shopper process. TAG addressed questions to her satisfaction.

2 S. Skinner asked if TAG could review receipts on a monthly basis. -TAG responded yes -TAG believes another Board member should also review receipts on a monthly basis G. Collins suggested that a program director sign off on any work/materials purchased before hand Allocation Procedures (Revenue/Expenses) B. Grant asked TAG how the allocation would work for internal billing of programs -TAG: NAC Bookkeeper would do the data entry with TAG advisory -TAG would review the allocations monthly with the Board B. Grant asked TAG if they believed Quick Books is an adequate accounting tool for NAC. -TAG responded yes P. Rolfes wanted to make sure the allocation was a partnered task (with directors) -TAG and Board agreed Some discussion about the 990 requirements ensued (audience participated) B. Grant asked G. Collins for next steps: G. Collins responded that TAG has a proposal for Board to review which outlines proposed services Proposal was handed out and requested to be supplied via Goal would be for TAG to prepare a January financial package for February meeting review B. Grant asked Board to review proposal offline and get back to G. Collins with comments All comments due from Board members within 7 days Executive Directors Report B. Whitford handed out Director's report reflecting annual memberships, program memberships, boat storage memberships, monthly memberships and hourly memberships. Other business: Makupu focusing on Ohana Days (challenged youth) Eagle scouts have completed bench project (at entrance) Sage Oaks (charter school) asked for NAC to apply as vendor UPS storage pod has been removed o NAC compensated $1,000 for use of land for pod storage SCORA meeting host this month NAC Truck o D. Warwick asked if the z'" white truck had been sold B. Whitford confirmed that it had been sold to Maika Scott D. Warwick asked if JRP had first right of refusal to purchase the truck B. Whitford said no as he did not believe the truck to be reliable enough nd B. Whitford said he believes current logistics do not require a 2 truck

3 Circulation pump for water heater being installed Junior Rowing Program Report (P. Rolfes - Director of JRP) P. Rolfes reported the following: All financials posted on website Parent communication has never been better 19 out of 26 girls have committed to college programs Teams entering into heavy regatta schedule (February- June) Financial Aid o $15,000 budgeted for season o Awarded nearly $40,000 in FA creating $26,000 delta o S. Patterson helped to clarify that program had planned to fundraise for the differential at the beginning of the year. P. Rolfes confirmed and reported that the program does have fundraisers in place to close the funding gap. o Casino Night: 10% of money collected went to Financial Aid o $5,826 left to raise for Financial Aid Other financials: o $62,000 outstanding debt o WOW contributed a restricted donation of $2,500 towards a launch outboard engine and another restricted donation of $1,000 for launch debt payment. o Accounts Receivable: $16k over 90 days due to last season non-payments Fundraising o Event planned for 1/27 Duffy Scavenger Hunt (targeting $10k) o Changing online fund raising tool from Classy to PledgeStar (Goal: $60,000) AA Meetings at NAC o P. Rolfes passed on concern from 2-3 parents and a regular member about AA meetings being conducted at NAC. Pat raised concerns about potential interaction with JRP and that same AA participants may be attending under court order and are not there voluntarily. Concern that this could lead to drug or alcohol abuse on the property and the possibility of impaired driving in the neighborhood. P. Rolfes brought up concerns that during school holidays and summer break, kids will be present during AA meetings. Interactions could occur. o B. Whitford stated there was little chance of interaction with JRP participants because AA meetings are conducted during non-jrp hours o S. Patterson asked if there had been any incidents. o B. Whitford said there was one report of one incident but that it could not be verified (during a holiday when JRP participants were present) but did not believe there was any threat to participants and that there had not been any incidents of major concern.

4 Cash Position o P. Rolfes raised concerns about recently published and posted Treasurer's report P. Rolfes distributed one page analyses reflecting a variance between JRP reported cash balance and treasurer's report cash balance (less $52,547) J. Van Cleave stated that the issue needed further analysis for proper explanation o B. Ibbetson expressed concern that Treasurer's Report was posted without Board approval o S. Patterson stated that he believed that the Treasurer's Report should have been presented/reviewed by the Board before being posted o Motion by B. Ibbetson to remove recently posted Treasurer's Reports from the NAC website Motion carries, all ayes, except J. Van Cleave who opposed o S. Patterson asked that Pat and Malia come back to the Board with a process that ensures that there is a shared understanding of the monthly cash position o S. Patterson recommended that TAG, Pat and Malia reconcile the discrepancy o B. Grant requested a balance sheet from TAG as soon as possible G. Collins to assist and report back to Board with an accurate measure of cash o P. Rolfes asked if it is unreasonable to have a separate account for Jr. Rowing? o D. Warwick stated that she believed that the NAC General part of the club has expense/spending and coding problems Dragon Boat Update (reported by?) Name? reported on: Overview of program Upcoming races 35 active members, 1/3 are cancer survivors Outrigger Program Update (reported by J. Netzer- laison to Outrigger Program) J. Netzer gave Race/Event Reports o Parker Race, Off da Couch Race, Tahitifest, Rossof Classic (upcoming) Tahitifest o Jr. Outrigger Open House - orientation for future paddlers a success Newport Harbor Rowing Foundation (discussed in previous meeting) o Per a member request, J. Netzer provided more details on the organization Officers include Bruce Ibbetson and Joel Kew Business address of Warmington Homes/ Matt White Homes Foundation has made a generous lease of a boat (only $1/year) Audience member asked if donation had been approved Board confirmed it had been approved Community: o Vicki Mills - Firefighter in SB, lost home in mud slide NAC outrigger community rallying to provide resources, donations encouraged (see Julie Wolf for donations)

5 o Jr. paddler death - Kate Hunter o Jr. rowing death - Mitchell Rimlinger B. Whitford asked the audience/board to refocus energy to help others in need Women on Water (WOW) (reported by Linda Hay) Contributions to Girls JRP Varsity Team (engine and cash as previously reported) Actively involved in the NAC Donations made to weight room, bathrooms, etc. $110,000 in donations over 13 years B. Grant asked Board if they were prepared to approve past meeting notes B. Ibbetson and S. Patterson stated that they believed the notes were not ready for approval due to lack of detail and errors B. Ibbetson suggested that a small team meet to "clean up" notes B. Grant suggested that Bruce, Steve, Bill, Jon and Malia review past notes and make appropriate corrections/edits (coming Sunday suggested). P. Rolfes suggested Google docs for approval of minutes Committee Reports There were no reports Request for Financial Documents D. Warwick presented a compiled list of requested financial reports (some repeated requests, some new) S. Skinner will work with Malia to fulfill requests Malia thinks the time required to fulfill all requests will be 3 weeks Election of Officers Board discussed election of officers, specifically the number of Board Member votes required to elect new officers. B. Grant stated that he believed that there was uncertainty in the by-law wording o Uncertainty: Is a majority vote required or is 2/3 vote required? o B. Grant stated he would seek legal interpretation of the bylaws Meeting Adjourned around 10:15 PM. Prepared and Submitted by Steve Patterson as of 2/20/18. Approved as to form and content: Dated as of Jon Van leave, Secretary