Board Meeting Minutes
The Board Minutes reflect the discussions and decisions of the Board of Directors who meet quarterly. The website contains the minutes of the Board meetings for the current year. Minutes from prior years are available upon request.
Magothy Marina Condominium Association
Board of Directors Meeting
Aug 27, 2026
The third quarter meeting of the Magothy Marina Condominium Association was held at the Chamber of Commerce in Severna Park. The meeting was formally called to order at 7:35 pm. In attendance were Kathy Buller, Robert Kelly, John Halt, Brian Brown, Trip Hill and Ginny Chambers.
Minutes of the Previous Meeting
The reading of the minutes from the May, 2026 meeting, was waived in view of their prior circulation by email, and the minutes were approved as written.
Old Business
Abandoned Boats
The boat in slip F-12 has been moved to the outside of J-dock. A family member of the deceased owner will be coming from out of the country to collect belongings.
The owner of the boat in L-2 has passed away and the marina has title to that vessel.
Budget 2026
Expenditures on the operating budget, capital reserve, and dock escrow accounts were reviewed.
As reported in the May meeting minutes, the marina is a 501(c)(4) non-profit corporation. As such it relies on consistency in cash flow throughout the year and minimal deviations in budgeted amounts.
Since our last meeting, two measures have been put in place to improve the consistency and amount of cash flow.
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One was recovering the credit card service charges on payments for quarterly condo/dock assessment fees by slip holders. This change was implemented July 1st.
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The second change has been announced and goes into effect in the first quarter of 2027. All slip holders will be required to pay the first quarter as scheduled.
Those who rent their slip may deduct the remaining three quarterly fees from their slip rental fees in April. Previously, many owners were deducting all four payments from the rental fees in April, seriously reducing cash flow in the first quarter.
As to budgeted amounts, we have experienced some serious unanticipated expenses this year, including the following:
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Utility expense for electricity has increased significantly due to the unusually harsh winter and the extensive usage of bubblers. Out of a total electrical budget of $50,000, $26,400 was used from January to March. The months of April – August were on track with the original budget.
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Other unanticipated expenses relate largely to the marina’s aging infrastructure. They include repairs to the salt treatment water system, numerous plumbing leaks on the piers and well tank, electrical receptacle repairs, new card reader and gate cards, pool repairs, dock and dinghy rack numbers, and heating system repairs. These repairs amounted to $22,000 through August.
Special Assessment
The board unanimously agreed that a special assessment will be required to address the issues discussed above and any other pending important needs. Kathy Buller will prepare a detailed estimate for board review. The board will vote on an assessment amount in the next few weeks, with the intention of including it in the fourth quarter 2026 billing.
Revision of Bylaws
The current bylaws of the condominium association were written by a developer almost 50 years ago at the inception of the association. They used a model designed for residential housing units. They include a significant number of provisions which don’t actually apply to a marina (e.g. color of your front door) and others which aren’t appropriate to marina operations and should be changed. The bylaws are currently contained a small booklet, in virtually unreadable font. They are being converted to a word document that can be redlined with proposed changes. They will then require approval of 2/3 of the membership. This is a painstaking and time-consuming process and will be completed as quickly as time permits.
There being no further business, the meeting was adjourned at 8:55 pm.
Respectfully submitted,
Ginny Chambers
