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HomeMy WebLinkAboutSTEVENS ESTATE MINUTES AUGUST 2,2018 STEVENS ESTATE ADV|SOR9BORAD MINUTES August 2,2018 ATTENDANCE: The following were present: • Stevens Estate Advisory Committee: Eric Frahlich, David Boudreau, George Hadgiannis, David Brown m Absent: Chairman Kevin VViUoe,John Albano m Town Staff: Eric Kfoury, Lyne Savage,Joanna Ouellette, Margie Rothschild,Victoria Otis, Bernadette Curran. • No members of the public were inattendance. CALL T0ORDER Meeting was called to order at 7:36 AM in the Town Hall second floor meeting room. APPROVAL OF MINUTES: E. Frahlich made a MOTION , seconded by D. Boudreau, to approve the Minutes of May 23, 2018. Motion appnoved4-0. DISCUSSION Financial Reports- L. Savage presented a review of the current financial reports.Year-end figures are good and compatible with last year. It is anticipated that there was $91,000 more in revenue than expenses for the year. These numbers still need tobe certified by Mass DOR. L. Savage pointed out that the financial report shows some past due balances that have not yet been collected. These include an outstanding balance of approximately$6,000 from the Schneider Electric event that took place in October 2017; rental fees and bar tabs from three events that occurred in July 2018; and 90 day deposits for some events that are about to occur. She reiterated that kiy important that all due money should be collected and sent for processing in a timely fashion to keep the accounts current. E. Kfoury stated that he continues to be in contact with Schneider to collect their outstanding money due. J. Ouellette stated that there were some issues being worked out with the July events. One event has an issue associated with credits on the alcohol purchased. EKfoury asked for clarification and]. Ouellette explained that the client worked for the alcohol distributor and was told he would receive a credit for returned unopened bottles ofalcohol. This credit was still being worked out along with the final bill. E. Kfoury explained that this is not the type o[arrangement for the Estate's involvement. E. Frah|ich stated that while he agreed with that, he would prefer that the issue be discussed at a later time internally by staff outside of the meeting. E. Fruh|ich excused himself from the meeting. D. Boudreau underscored the importance of collecting all payments prior to or immediately after the end of the event along with meeting all the financial requirements/procedures of the Town, There was discussion on the Estate's policy with regard to collection nf funds due. All payments must be made by check or credit card the night of the event or charged to the credit card on file the next day. J. Ouellette read from a document she drafted regarding the Estate's policy for collection of funds for future events. D. Boudreau questioned if is it common in the business to have the final remaining balance of rental fees collected 2 weeks prior to event or if we could possibly back that up to 30 days prior to event. This was discussed and all agree that this should be looked at more closely. J. Ouellette will review what other venues have for a policy and bring proposal to the next board meeting and once approved, the policy will be communicated 10 clients ao everyone is clear on when payments are expected. The payment schedules should also be clear in the contract/agreements and such contracts/agreements need to be signed by all parties at the time we accept the deposit. As there were new staff present at the meeting, D. Boudreau stated that while being a municipal-owned facility requires different financial obligations as compared to private facilities and such can be frustrating, it is necessary that the financial requirements and guidelines of the Town must be met. D. Brown suggested that if helpful this fact should be used to explain the Estates policies to clients, J. Ouellette stated that she will make the policy clear to all clients. E. Kfoury offered all board members access to a town email address. This would allow easier access to town documents and may be easier to keep board business separate from personal business. Also,the two new board members will bc given access to the booking report. L. Savage excused herself from the meeting at&17am. Capital Improvement Projects D. Boudreau explained to the new members that for the past 5 or 6 years the Estate has run at a good profit and that the Town has generously used this "surplus"to put back into the building for capital improvements, including the boiler and air conditioning upgrades. E Kfoury gave an update of the Boiler Replacement project showing pictures of the old boiler that was removed. The Project is moving forward nicely. There was$75,000 budgeted inFY18 and another$75,O0Oin FYI9 for this project. Facilities Director Steve Foster is overseeing project completion. The new Air Conditioning unit/system in ballroom has been replaced and is operating. There isahuge difference now and the room cools nicely. Miscellaneous J. Ouellette explained that the Estate is now fully staffed and the house is open and available for more hours during the week, often taking in walk-in clients for tours. It is available for much more public access. D. 8nzm/n asked how we publicize the Estate. J. Ouellette explained that the Estate's new vvebdte is generating much more activity. It is updated to reflect the property as a function facility for all types of events, not only weddings as previous depicted. |tis listed on all online wedding websites and mostly byword of mouth. M. Rothschild suggested possibly instituting a referral program. We would need to check with Town Council to see what kind of"reward", if any, can be given to someone giving a referral. D. Boudreau Made a motion to adjourn meeting, seconded byD. Brown. Meeting adjourned at8:B5am.