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Our 2024 vote to restore our $ reserves

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    • #7573
      lorenbeach
      Participant

        The reasons for RCYC being near broke have been well discussed at the March Board, and are being presented to the membership.
        Like many members I noticed that it was getting very difficult to fund repairs and improvements. Basically it’s been many years since we addressed the problem of falling behind due to having no allowance or inflation.
        While we all have some idea of how expensive it is to moor a boat at a commercial marina or a larger yacht club, it’s interesting to see just how expensive it is.
        I just looked up the moorage rate for a marina in Seattle. Expensive city. Now I better understand how good we boat owners have it in Portland.

        Rates

        If I was ever considering moving us and our boat to Seattle, this would give us considerable Pause……
        At $816. a month, such an increase would more like a (financial) heart attack.
        ______________
        Focusing only on RCYC I composed this explanation recently, and passed along these facts to the Officers.
        Anyone who has been a member for over a decade may find this quite interesting. Text follows.
        ______________________________________
        I was personally curious as to how the Club got so far behind in its budgeting and/or financial reserves.

        I dug into my archived paper bank docs. I found my actual check register entries for payments for a Walk Five slip, from March 1999, thru January 2024. Our same boat has been moored continuously on walk five. So no change in calculation other than (*Life Member status).

        (*) NOTE: my present quarterly rate is less than the rate for newer walk five members who have not yet achieved “Life Member” status, so our present rate should be restated a bit higher for an honest $ to $ comparison.

        >>>>>I used the Inflation Calculator at the Bureau of Labor Statistics (.gov) .

        The actual quarterly cash payment numbers are:
        March 1999: $360.50.
        January 2024: $468.50 (*)

        Adjusted for inflation – from March 1999 – our January 2024 rate would/should be: $673.84.

        Even reducing this slightly for our current status as Life Members, this is astounding. Members get far more than just a “good deal” at RCYC.
        It’s no wonder the Club is running out of money trying to cope with rising costs of services, utilities, outside labor, and materials. Not to mention the present cost of rebuilding major infrastructure.

        I believe that all members need to understand this shortage of income, and how it quietly and relentlessly developed.

        Finally, raising our quarterly cost now by about $100. is still way short of what it would /should have been IF we had been making inflation adjustments regularly as we went along.

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