Minnetonka Youth Hockey Association Annual Meeting 2019
The Minnetonka Youth Hockey Association held its Annual Meeting in 2019, with a focus on success on the ice, board member positions, treasurers report, and more. The meeting included discussions on team achievements, introductions of board members, financial updates, and future plans for the association.
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Presentation Transcript
Minnetonka Youth Hockey Association Annual Meeting 2019
Minnetonka Youth Hockey Association Annual Meeting, 2019 Agenda: Call to Order Welcome! Success on the ice Introduction of Board, Roles and Updates Charitable Gambling Overview Candidate Introductions and Elections Adjourn
Success on the ice: Here, Near & Far! RECORD fourteen teams qualify for Regions Nine teams to State: JGA Warriors (Champions), 19UB (Champions), 15A Black (2nd), 12A Black (2nd), Peewee AA (3rd), JG16 Blue, JGB Blue, JGB Black, 15UB Alumni Highlights NCHC Player of the Year, Hobey Baker Hat Trick Finalist, NHL Debut with Las Vegas Knights: Jimmy Schuldt WCHA Student-Athlete of the Year: Max Coatta NWHL Isobel Cup Champions: Julie Friend, Sydney Rossman Mr. Hockey Finalists: Josh Luedtke, Grant D0cter Frank Brimsek, HS Goalie of the Year: Charlie Glockner Girl s State HS Tournament, 3rd Place: Minnetonka Skippers US Women s National Team: Sidney Morin NCAA National Champion: Presley Norby, Wisconsin Wes Barrette, Metro Hockey League Award: Posthumously awarded to David Aanenson
Board Member Positions and Highlights President: Jim van Bergen Vice President: Mike Mann Secretary: Nicole Zapzalka Treasurer: Steve McDonald Boy s Director: Matt Quinn* Girl s Director: Rick Helling* Boy s Mite Director: Jamie Kendall Communications Director: Cara Albrecht-Ostrom Sponsorship Director: Hope Holler* Fundraising Director: Chris Jerdee Volunteer Director: Stacy Sand* Equipment Director: BJ Klinck Tournament Director: Jason Butterfield* Registrar: Ann Moss* Girl s Mite Director: Vacant* Non-Voting Roles: Ice Director, HDC Director, Gambling Manager, Office Manager, Arena Manager, Controller, IT Director * 2-Year Term Completed
Minnetonka Youth Hockey Association Treasurers Report For the 8 Months Ended February 28, 2019 Key Notes: All information below excludes the results of the gambling fund which is reported separately Operating Cash balance is adequate at 65% of annual operating expense of approximately 2.3 million. Net income is $688k thru 2/28/19 which about 5% higher than prior year The outstanding loan balance is $4.135 mil. MYHA is compliant with covenants and has maintained a required debt service reserve of $495k. The 6/30/2018 audit was completed for both the association and the gambling fund and each had an unmodified opinion. Summary of Revenue and Expense for the 8 months Ended 2/28/19 Total YTD 2/28/2019 Total YTD 2/28/18 July August September October November December January February Revenue Expense Net income $1,361,080 $ 276,383 $ 217,378 $ 82,245 $ 146,901 $ 34,785 $ 63,140 $ 713 $ 2,182,625 $ 2,165,129 $ (172,122) $ (101,803) $ (106,542) $ (169,409) $ (321,147) $ (288,560) $ (201,218) $ (133,838) $ (1,494,639) $ (1,509,504) $1,188,958 $ 174,580 $ 110,836 $ (87,164) $ (174,247) $ (253,775) $ (138,078) $ (133,125) $ 687,986 $ 655,625 MYHA - Revenue and Expense -YTD thru 2/28/19 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- $(200,000) $(400,000) $(600,000) July August September October November December January February Revenue Expense
Minnetonka Youth Hockey Association Treasurers Report For the 8 Months Ended February 28, 2019 Expense -8 Months Ended 2/28 - 2018 and 2019 Revenue -8 Months Ended 2/28 - 2018 and 2019 $350,000 $1,600,000 $1,400,000 $300,000 $1,200,000 $250,000 $1,000,000 $200,000 $800,000 $150,000 $600,000 $400,000 $100,000 $200,000 $50,000 $- Player Ice arena Concessions Sponsorships Fundraising Advertising Capital campaign donations Other $- participation Ice time Salaries and benefits Depreciation Utilities Interest Tournaments Program expenses Other Eight months ended 2/28/2018 Eight months ended 2/28/19 Eight months ended 2/28/2018 Expense - Eight months ended 2/28/19 Revenue -Eight Months Ended 2/28/19 Expense -Eight Months Ended 2/28/19 Player participation Ice arena Concessions Ice time Salaries and benefits Depreciation Utilities Sponsorships Fundraising Advertising Interest Tournaments Program expenses Other Capital campaign donations Other
Minnetonka Youth Hockey Association Treasurers Report For the 8 Months Ended February 28, 2019 MYHA Cash Balance by Month $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- MYHA Operating cash balance Goal minimum Goal maximum
Charitable Gambling Overview Began in June of 2012 To date total of $338,500 has been raised Annual average is $48,ooo with low in 2013 of $28,000 and high in 2018 with $90,000. Current YTD: $55,000 to MYHA Gambling is highly regulated by the GCB & State of MN Gambling Manager is licensed with State of MN. Overall responsibility & continuing education requirement. Duties include: handling money, ordering, inventory, payroll, bingo and Board reports. Ratings and audits are recorded with required checks and balances in place. MYHA only operates at Haskell s Port in Excelsior Site offers Pull Tabs, Tip Boards & Bingo Players must be 18 years old to play City of Minnetonka does not allow charitable gambling. Expenses for Charitable Gambling: Payroll, Accountant (monthly & annual audits), Games, Bingo, Tip Board supplies, Equipment, Repairs, Licenses & fees Beneficiaries of MYHA charitable Gambling: 10% City of Excelsior, net less expenses: $50,320 Escalating 9% - 36% Tax to State of MN: $169,217 10% Haskell s rent receipts: $97,452.70 100% of proceeds goes to MYHA (501c3) Board and MYHA members are eligible to play excluding those who have any role in gambling operations (Sales, inventory, auditing, signing authority) Interested in learning more? Go to the GCB website: http://mn.gov/gcb/index.htm
Minnetonka Youth Hockey Association Annual Meeting, 2019 Elections: Election Process Candidate Introductions One vote per family Vote for up to seven candidates New Board member introductions Set May, monthly meeting Adjourn
