Attendance NER PCA Board meeting 2/15/2024 – Approved not unanimously on 9/26/2024
Stephen Hall
Kristin Larson
Bailey Bishop
Luis Rivera
Glenn Champagne
BettyMae Mosley
Mark Shane
Not in attendance
Robert past President
6:37pm
Glenn called the meeting at 6:40PM
We will work 6:30pm-7:30pm moving forward.
Homes for our troops and placed a call due to no feedback and speak to Briana and she shared she did not receive my calls and it went to another Briana and we spoke and they sent a card and were thankful and appreciative and still at this point the outgoing president to choose and we can honor and have a discussion and it is unclear to me and if we are making a difference and how appreciative and what we have done for them and we can stay the course..
Per Kristin – Robert’s decision and it is not a board discussion, and we need Robert to make the call and we should have Robert to make the final decision due to this being a tentative reminder.
Kristin will email Robert to remind him (Robert), and Glenn did not set any expectations and we are ok there.
This is our 65th anniversary and we did a logo we created and had the event posted in the nor’easter and the article, Ted Shaw, tom take and Alicia k an bill found some older status reports from 1960 and use that again and ask them to come up with a 65th logo and perhaps sterling and unless others have ideas.
Kristin – In the past we did anniversaries and national may send a banner sharing happy 65th and I still have the 55th banner in my basement and asked if Kristin remembered the actual date. Kristin will look to confirm the date. February 4th, 1959.
Luis asked if we want to highlight at the summer party and give a way.
Mark – it would be interested to see who a member was back then and call them out to gain any info from that point in time…
Kristin does not believe we have any members, and it may have been Martha & Charlie Dow who were the oldest. confirm if we can confirm.
David Melcher has been with us for 50yrs. keeping on track of our members.
Safety Chair – Stan will remain for now until we confirm with Robert.
DE Registrar was stan and he retired.
Board changes from executive session to discuss and make some extra time and not the place to do this now and will reach out to begin conversations and bring others into the loop and Glenn will share the slides to discuss for Stephen.
Treasurer – Bank statement & Balances did post and we are not much different from the end 144K and down due to the Watkins Glenn already and the Clinton 175+K and had been generating interest for the past year and that is the only change due to the Watkins Glenn and not a lot of P&L Change and dinner, Endicott money came back and Watkins Glenn paid for track spills and oil drive and the payments for the ramble 24/25
27K for Watkins down payment 36K income of 1, 500K
144K and the other account 175K take advantage of the investments for a short-term CD and Kristin suggested some good analysis and can we manage if we did this via our checking balances.
6,500 March was the final and that dropped due to track events and moved money into 150K to give us some room and as I mentioned the money market has not increased and over the year.
What we have been retaining and had ample money (liquid assets) and on the checking account .05% interest on the money market 0.15% and the CD rates from the fed are off their highs and an 8 month CD it is just over 5.1% for 8 months and we did not touch money last yr. and the recommendation is to move into a short term CD and take 125K and put into a 8 month and leave 50K in the mmm account and if we needed and 60K in the checking and if we do have to break there is a 3 month interest and there is a 6 month interest at Clinton and we can earn more than we are currently earning and not tie up in a CD and we do not want to break..
Glenn asked about breaking up into CD vs 1 CD and Bailey shared just be able to break 1 CD vs the cost.
Thoughts from the board for the CD conversation – Kristin feels more unlikely, and we will get deposits each week and we may have more cash earlier than the past.
Prior we used to pull after the event and now we do this as time goes by.
Luis – 9k based on 8 months? It seems like an no brainer.
Robert shared – we could do online money markets and can make over 5%.
Bailey the money market can fall faster than a CD and if that is true and if not needed for a while and do a ladder and have go out for a couple of years and pick up 5yrs and have a certain amount mature each 6 months and this is something to think about rather than have sit in the Clinton bank acct.
Robert’s thoughts – Treasuries have had better yields vs the corresponding CDs.
Glenn how often to change for the treasuries – do not do something over burden and break out 50/50/50/50 and keep buying out and we will not get paid to go out past the certain time frame. not roll out each month and twice a yr. if we do 200K and that is 10K in returns a year and that is extra income.
Robert’s thoughts overall – Speak every 3 months and mature every 6 months and look at the interest market and we can view that and now see were we want to place the 50K and the yield curve will normalize and keep it shorter and eventually should normalize on the 2nd market and (trading at the institutional level on the secondary market and can carry a higher yield.. Open a Charles Schwab/Fido money market and use the 200K to purchase the CDs like securities. thoughts are to purchase a brokerage account.
Bailey’s thoughts – Creates more work and I do not trade secondary CD and there can be a whole bunch of choices and there is a certain amount of risk via the institutions.
Luis shared to have Robert/Bailey are comfortable.
Robert has the experience and feel good in the fixed income and so the next treasurer who knows when we move to the next person.
Glenn/Luis – Have concerns around using a third party and stay the course of the CDs and get an excellent rate and we are making a big leap, and we will make more than in the financial crisis from 2009 and the maximizing our dollars.
Bailey will connect with Clinton moving forward. and revisit down the line.
Luis to revisit Robert’s approach down the line and the CDs will move out of the account and we can connect with Robert’s suggestion.
Move forward 2 CD strategy and meet in the Summer for Robert’s proposal and break the allocation into 2 CDs and need refreshed rates and have 8 months.
Confirm if 150 in CD under.
FDIC rules and split 125K from Clinton savings into equal size 2 8-month CDs the team will agree to use the approval (100% approved)
Luis Comm’s – quick updates, content projects and analytics
More cohesive on postings and sync with email/social created a calendar for all events (home page) and will coordinate on social and email Stephen and Larry and will share as move forward we need a heads up and we need time and will work together to move.
Volunteer (BMM/Stephen/Glenn/Luis) and we want the page to be live for all things social and bring all member traffic there and coordinate in an email for March ’24.
Projects from annual meeting – website cleanup and email and created a priority list to tackle and adhocs may appear and working on two things.
Sites clean-up AutoX page and Chris Ryan agreed and more streamlining and cutting fat to provide more succinct info and put a few hrs. each moth to clean the website/content et. an all over the site and not only on the home page
Google analytics and we use to track and we seem to get younger and they drive more Macon/Cayan and the mid to late Jan we have not been tracking and asked Brett to help how we can consider and highlight a event, not a big concern and we do not want this issue ¾ times down the line (connected with Brett) and wanted to review plug in updates..
Luis will inform the team of Brett needs to attend meetings.
Eventbrite – still an issue (DE/AutoX) there is a concern that we need to use the Eventbrite (Kristin both groups are using Motorsports Reg) and only Mark is using Eventbrite and asked Brett for help, Luis will own the reach out for Brett and will work directly with Mark..
Driving – schedules are done and all are in the planning mode Calabogie has 20 of the 30 spots needed to be filled (10 more participants to break even) is March 25th there is some concern and trying to strategize and Charlie is 90% done with the budget and being conservative we may have 5K as an increase and they are implementing on rates (raise) and has cut back on some of the drivers.. The team is still trying to find ways to increase the cost.
AutoX – got dates on the website and they are doing the same each year and expect a little bit of a profit. seem to be able to manage some $$$
Ramble/Concourse – mostly full and they still have some rooms and will try to free up if they need to. there may be a potential 5K loss due to food and felt could not increase the cost of food if needed so may loose money if late arrivals.
Membership new 31 (4 transfers in) 3 transfer out and others in the normal space and tracking for the new monthly email (no problems and wants relevant content and will figure out as we get closer and make sure we get the info in a month prior is fantastic will help me to know what I need to add in and spent time on Sunday)
How long – the app is odd, and it is a bit clunky to organize the various parts of the email and that was learning curve and I expect 1 hr. each month and that is a guess and may be able to get down with more time.
Dave M had a friend transfer to the region and wants a “welcome letter” and they did not receive any emails. and that happened 1yr. ago and there was no correspondence.
How do you handle – I go through a few times a week and flag and send a welcome email a couple of times a week and I am learning apparently and can add them to the mail list (Anker owned and he will share with Stephen and will help Stephen to get the new members on the list) and Stephen will add manually
Mark – Social VP Admin
A few points to bring up and the first event at Porsche Herb Chambers was good a success and it was normal for folks to want to get out in the winter months and always attracts a lot of people and one car was sold.
Refreshments and this will not provide this time around restoration project and the team was working in the restoration and coming up soon.
We are close to nailing down the newcomers meeting in Burlington, Porsche and they will need to rent chairs and asked them to provide refreshments and they do not have an audio format and hand out the hard cards with the QR Code.
How do we capture volunteers, do an online form, and register them capture name/email address.
Luis’ suggestion for capturing volunteers and a way to create a tablet and a google survey for folks to register.
Haggerty as a guess speaker due to him selling insurance – have a conversation around his interest in the history of Haggerty and how they started, and we may charge a speaking fee. and how they can engage with clubs etc. National may be ok with the 65th Event.
2nd Wednesday same time and send out.