Baseball Stadium Authority

Meeting Minutes for Norwich Baseball Stadium Authority Wednesday, September 13, 2017 (6:00 p.m.) City Hall, Norwich (revised 10/26/2017) 1. Call to Order by Chairperson, Michael Jewell, MJ (6:00 p.m.) NBSA Members Present: Gary Carignan; GC; Tom Cummings; TC, Robert Reed RR, Matthew Fortin, MF, Gary Schnip, GS, Bob Demars, BD, Peter Slocum PS, Sean Ryan, SR Members Absent: none Other Absent: CT Tigers Representative – Dave Schermerhorn; DS 2. Review of August 9, 2017 NBSA meeting minutes: Motion made by TC to accept meeting minutes as presented, seconded by MF, passed (9-0) unanimously 3. Public Comment: None 4. Chairman’s Report/Correspondence: letter from Dave Schermerhorn indicating he was ill and will not make meeting. He confirmed trying to get Tigers owner in town for a meeting with City of Norwich staff. 5. Budget Committee – Sandy Kuchta provided August 2017 financials prior to meeting. Motion to accept made by SR motion seconded by TC, passed (9-0) unanimously. 6. Operations Committee: GS reported on; a. A representative from Gould Evans was at the stadium on August 8th to do annual inspection. Provided a preliminary report which was presented to Dave Schermerhorn. Major concern is the locker room configuration. b. The City has spent over $20,000 in HVAC repairs. This matter is expected to get worse over time. c. Public works has been cutting brush at various locations around the field. 7. Stadium update: see Operations Committee report a. none 8. Old Business: none  9. New Business: Peter Slocum, NBSA committee member has resigned due to a relocation. Board has accepted his resignation and thanked him for his years of service. 10. Adjournment: Motion made by PS 2nd by RR to adjourn the meeting. Motion passed unanimously (9-0) at 6:15 p.m. Next meeting: October 11, 2017 at 6:00 p.m. to be held at City Hall. Submitted by Gary Carignan  Stadium Financials August 2017 REVENUES for the month of August 2017 were $40,971.47 in comparison to prior year August 2016 $42,478.49. This is a $1,507.02 decrease consisting of a decrease from Utility Reimbursement of $1,546.06 and an increase to interest income of $39.04 YTD Revenues for August 2017 were $139,341.41 in comparison to prior YTD August 2016 $144,810.99. This is a $5,469.58 decrease consisting of a decrease from Utility Reimbursement of $5,610.68 and an increase from Interest Income $141.10. EXPENSES for the month of August 2017 were $40,950.45 in comparison to prior year August 2016 $38,225.05. This is an increase of $2,725.40 consisting of a decrease to Lighting of $1,545.96, an increase in Audit Fees of $152.01, an increase in Stadium Repairs of $4,636.77, and a decrease to Depreciation of $517.42. YTD Expenses for August 2017 were $272,488.09 in comparison to prior YTD August 2016 $249,135.24. This is a $23,352.85 increase consisting of a decrease in Lighting of $5,610.58, a decrease in Misc Admin of $480.00, an increase in Audit Fees of $223.95, a decrease in Insurance of $20.77, an increase in Stadium Repairs of $40,440.96, and increase in Stadium Contract of $153.18 and a decrease in depreciation of $11,353.89. NET GAIN for August 2017 was $21.02 compared to NET GAIN for August 2016 of $4,253.44. This is after depreciation of $14,160.94 in 2017 and $14,678.35 in 2016. NET LOSS for YTD August 2017 was $133,146.68 compared to NET LOSS for August 2016 of $104,324.25. This is after depreciation of $116,391.96 in 2017 and $127,745.85 in 2016. CASH BALANCE for August 2017 was $18,437.32 in comparison to prior month July 2017 $39,345.78. This is a decrease of $20,908.46. This is due to an increase in accounts receivable of $31,220.58, a decrease in accounts payable of $3,869.84 and the monthly net gain of $14,181.96 excluding non-cash depreciation expense. NOTE: The Accounts Payable balance @ 8/31/17 is $25,225.04 – There is not enough cash available to pay all the bills for August. NOTE: As of 8/31/17 $68,877.10 has been spent on stadium repair expenses compared to a budget of $32,000.00 for the year. I’ve included a listing of invoices that make up this amount. This does not include the $42,390 for the parking lot lighting that will be paid for from the City’s capital contingency.