GSYC

BOARD OF GOVERNORS MEETING

AUGUST 6, 2006

A quorum being present Commodore Alan Karpas called the Board of Governors Meeting of the Garden State Yacht Club to order at 4 PM.

The minutes of the previous meeting were accepted as read.

The question was asked why the club’s funds were used to purchase a projector. Commodore Karpas explained that we are using one quite often, every Tuesday night, and at other functions and the Stock Committee refused to purchase same.

The Secretary had no correspondence to read.

Officer Reports:

VC Jack Dashosh had nothing to report

RC Mike Unger reported that a notice would be sent to all members reminding them of the following rules:

1. Appropriate footwear must be worn on the tennis courts.

2. A guest may only be brought twice per season.

3. Proper attire must be worn in the clubhouse. Commodore Karpas read the policy that is published in the club book. Wet bathing suits are not permitted in the clubhouse. Dry cover ups and footwear are required. Change of dress is permitted in the locker rooms only.

Treasurer Bob Margolies had nothing new to report. PC Don Buck asked if we were on budget, which treasurer Margolies replied “No”. Commodore Karpas explained that some line items were over budget and some were under and when we finish the year we should be on budget.

Stock Committee:

PC Berger gave the Stock Committee report. (See attached) We have 51 stockholders – (48 fully paid, 3 partially paid, and one on leave of absence) 4 provisional members, 18 legacy provisional members.

Membership Committee:

PC Berger gave the second reading for Marge and Martin Heller. They were accepted as provisional members unanimously.

House Committee:

PC Steinman reported that there has been problems with the hot water due to iron buildup in the furnace because the water softener was not working properly. The company is coming Wednesday to fix the softener. It was recommended by VC Dashosh that the entire building be serviced by a water softener, not just the kitchen.

Grounds Committee:

Grounds Chairman Steve Redan had nothing to report.

PC Steinman also reported that we would be staining all the wood around the club.

RC Unger requested that the tennis court have the weeds removed that are growing on the court

Ladies Auxiliary:

There were no representatives from the Ladies Auxiliary. No report was given.

Insurance:

PC Eli Gaynor asked if Middleton Company had been informed of the change in cottage usage. PC Steinman responded that he had told Richard Gaynor. PC Gaynor requested that it be done in writing. Commodore Karpas said he would inform Middleton in writing.

Old Business:

Commodore Karpas reported that he met with PCs Steinman and Gaynor about the small cottages. They don’t have to take down the walls but all plumbing will be removed and the sewer lines dug out so we do not have to pay the sewer fees. They will have a plan for the mold removal at the next board meeting.

The motion from the last meeting to discuss the membership committee’s proposal came off the table and was to be discussed. There were 4 parts to the membership committee’s report.

PC Meranus moved that the question should be divided and it was passed unanimously that the four proposals for the different levels of membership be voted on separately.

Proposal 1

Dues structure for under 50 years old and over 50 years old shall continue unchanged for present.

This was passed unanimously.

Proposal 2

The Legacy program will be suspended on December 31, 2006. After January 1, 2007 any new member will join under either the under 50’s or over 50’s.

This was passed unanimously.

Proposal 3

The rules for joining through Legacy membership will remain in effect until December 31, 2007 at which time they will be reevaluated as to financial structure.

This proposal was voted down at Commodore Karpas’s suggestion so that it can be rewritten. Board Council, Mark Gruber, recommended to the board that prior to the legacies being voted in as permanent members, the board can change the deal and that the board, in order to protect itself from lawsuit and not to inhibit future boards should have wording in the legacy deal that provides for this. PC Cooper then suggested that the following phrase be incorporated into the rules for Legacy membership: “Nothing herein contained shall be deemed to prohibit any future board from modifying any of the provisions contained herein.” PC Fink moved that this disclaimer be incorporated into any Legacy rules.

This was passed.

Commodore Karpas asked the membership committee to reconvene to study the Legacy issue and to report back to the board with a concrete proposal that can be taken to the membership. PC Meranus and Howard Mandelbaum were added to the committee for this purpose.

Proposal 4

The proposal regarding stock ownership was voted down at Commodore Karpas’s suggestion so that it can be rewritten by the committee.

There will be a board meeting on August 20^th to review the new proposals prior to bringing them before the general membership.

New Business:

Sharon Gruber suggested that funds be set aside for children’s activities. Commodore Karpas suggested that the proper forum for this discussion would be before the finance committee which will meet in November for next years budget.

Commodore Karpas had appointed a committee to resolve the situation with the pictures of the Past Commodores that hang over the bar, where we have run out of room. The committee consisted of RC Unger and PC Buck. RC Unger suggested we move pictures to the lower hall of all PC’s who are no longer members. This was turned down by the board. PC Meranus was added to the committee and he will work up a plan to present to the board whereby all of the pictures can remain upstairs.

PC Fink feels that Larry Crystal has never been thanked properly for all the work he did before he resigned. Commodore Karpas appointed PC Fink and PC Cooper to compose a letter from the board which would be read at the next board meeting and General Meeting.

Good & Welfare:

Howard Mandelbaum thanked Commodore Karpas for all his hard work.

A motion was made for adjournment and was seconded.

The meeting was adjourned at 5:55 PM.

Respectfully Submitted,

Jean Ellen Kaufman

Secretary