Minutes of the Finance Committee Meeting

August 21, 2013

Present were: Tom Egan, Roberta Miller, Ron Marinoff, Bob Shellenberg, Maggie McCann and Margaret Nau.

The Committee discussed the new proposal presented by the swim team for adding a winter swim program, continuing the masters program and next year’s spring summer program. Maggie McCann thanked the Finance Committee for their hard work and coming up with a comprehensive analysis of the cost to keep the pool open. It was noted that this does not include items like water or other small costs and the committee felt that it was a fair non-biased assessment. The contract presented offers payment of $36,500.

Motion: Tom Egan moved to approve the contract as a trial for this year only with some corrections and with the understanding that this was not meant to set a precedent.

Change the wording under # 2 in “LVST Winter Session” from “swim team will attempt to limit its activity to lanes…” to “swim team will limit its activity to lanes…” in two places.

Change wording in #2 as follows: “After 7:00 pm the team will have full use of the pool with the exception of the adult lap lane” to “After 7:00 pm the team will have full use of the pool with the exception of the adult lap lane and the deep end”. Removing the wording “at the discretion of the coaches”.

Change wording in #3 as follows: “All payments shall be made within 15 days of receipt of invoice” to “All payments are due by the 5th of the month in advance”.

Change wording in #3 as follows: “Anticipated monthly billings are as follows:” to “Monthly billings are as follows:”

Change wording in #3. (3a) as follows: “Monthly payment of $750” to “Twelve monthly payments of $750”.

Change #3 as follows: In addition, for each non LVHA resident swimmer, LVST shall pay LVHA a facility use fee of $30 per person, per session considering three sessions per year to cover normal “wear and tear” to the facility. Non LVHA resident Masters’ swimmers shall pay a use fee equivalent to $5 per month.

Use of the BBQ is reserved for the LVHA members on the Friday of the week that school is out.

It was seconded by Ron Marinoff and unanimously approved.