In conjunction with the By Laws Committee, the Finance Committee is reviewing financial procedures and their impact on the membership and South Shore Yacht Club. Article V, Section 9 addresses the penalties on past due accounts and is being suspended until it can be redrafted and presented at the June 19, 2014 General Membership meeting. The current delinquency penalty of 15% of the outstanding balance with a $25.00 minimum and is levied to any member fails to pay his or her dues or other indebtedness within 15 days after it becomes due and payable. This is only a temporary suspension.
South Shore Yacht Club upgraded the Club Connect office software earlier this month. The upgrade will greatly improve office efficiencies by enhancing information and reports available to the staff. Membership and Slip License fees can be invoiced with delayed due dates so the actual due date will be included in the actual Accounts Receivable Aging category. Another significant benefit is with Accounts Receivable and Point of Sales or House Charging. After parameters are set, the system will automatically link a members’ house charging privileges to their account balance and a past due balance will suspend house charging and thereby increasing their account balance. Initially the parameter is set to 90 days or more past due. As we proceed in the coming months, the aging parameter will decrease to 60 days, 45 days, 30 days and 15 days past due. It is important to recognize that due to the billing cycle, for an account to be 30 days past due the house charge could actually be 60 days from the date of the initial house charge. Suspension of house charging privileges does not relieve a member from their Monthly Minimum spending. In addition to house charges, membership, slip fees, tender services, storage fees are also included by their respective due dates in checking the verification process.
Please review your accounts and bring them current if necessary during this transitional period. If you have questions, contact the office staff and they will help explain your account. No one wants to be surprised in the event that they would like to check out with a house charge and become aware that their transaction is rejected because the account is past due.