American Contract Bridge League Unit 522 – Fresno, Inc.

A Non-profit Corporation Serving Fresno, Madera and Mariposa Counties

2415 East Clinton Avenue, Fresno, California 93703

June 10, 2007

DIRECTORS PRESENT: Richard Meffley, Mary Lou DaCosta, Paul Boyd, Kay Chrisman, Dora Gostanian, Anita Penny, Margaret Mahaffey, Dave Shuster, Mary Jo Davila, John Oakshott and Bert Rettner

RICHARD MEFFLEY called the meeting to order at 5:23 p. m.

APPROVAL OF MINUTES: The Minutes of the May 6, 2007 meeting of the Board was unanimously approved as corrected.

TREASURER REPORT:

Paul Boyd presented a Profit & Loss Previous Year Comparison report for the month of May 2007 as compared to the same period of 2006.

• Building Fund and Clubhouse Fund income was up 16% and 54% respectively from the same period in 2006.
• Expenses were up $3,546 (19.5%) from the same period in 2006 due to unusual expenses. (1) An increase in rent for the Clinton facility, totaling $3,000 and (2) Back security door replacement costing $350.
• Clubhouse Income was down $3,500 (29%) due to a decrease in rental income from club owners. Unit Income was up $1,275 (14%) and Interest Income was up $985 (60%).
• Net Income was down $5,000 (41%)

SITE SELECTION COMMITTEE:

· No committee report was given as no meetings have been held.

· Kay Chrisman presented to the Board, a copy of the Unit 522 – Fresno, Inc. Bylaws and a copy of the Financial Policy as approved by the board October 2, 2001. The documents were presented to answer a question discussed at the prior meeting of the Board regarding how the Board can use Building Fund monies.

1. The Bylaws do not address the use of Building Fund monies.

2. The Financial Policy states as follows:

“The Building fund receives contributions and a user fee of $4 per table for each game conducted at the Fresno Clubhouse. This fee is in addition to the standard clubhouse use fees. These funds shall be used to lease, improve and/or purchase a clubhouse”.

EDUCATION COMMITTEE:

Michael Molinari, presenter of Beginning Bridge Lessons, reported that there are 25 active students and they just completed the 5^th paid lesson.

CLUBHOUSE:

Maggie reported that there are continual problems with the ceiling light fixtures in the card room. After reviewing the Rental Lease contract, it appears to be the landlord’s responsibility to replace the fixtures.

SUNDAY UNIT GAMES:

• The Pro-Am game on Sunday, June 10, 2007 was very successful filling eleven and one half tables.
• A Pro Am Swiss Team Game and potluck will be scheduled for July 15, 2007. Team members will be assigned with a mix of Pros and Non Life Masters. An additional requirement for this game is that team members must switch partners after each round so that players within the team get to play with all teammates.

299er SECTIONAL – AUGUST 11-12, 2007

Preparations are on schedule.

FALL SECTIONAL – NOVEMBER 1-4, 2007

Preparations are under way and it has been confirmed that Scott Campbell will be the ACBL Director, in charge.

NEW BUSINESS:

The sale of our Clinton facility has closed escrow and the new owners mailed to the Board, a new Lease contract to be effective July 1, 2007. The new contract binds the Unit to an initial three year term with an option to renew for an additional five years. The required lease payment of $1,113 per month appears to be continuous to the end of the extended term of the lease with neither an escalation clause nor an annual maintenance costs

The Board discussed the terms of the current lease that was recently extended and question the legality of the Landlord issuing a new lease during the term of the current lease that has approximately two and half years to run. The Landlord does have the legal right to give the Unit notice of one year to terminate the current lease but this was not done.

The topic was tabled until further research could be done on the legality of the new lease. .

THE BOARD MEETING WAS CLOSED AT 7:05 p. m. TO BE REOPENED AS SOON AS THE LEASE EXTENTION DOCUMENT DATED OCTOBER 25, 2003 CAN BE LOCATED AND REVIEWED.