For Review | OBSC1 Fall Meeting Materials
OBSC1 Members:
The Trustees are writing to share financial and other relevant materials in advance of our meeting on Saturday, November 8th. Relevant documents will be uploaded to our website shortly but links are included below for immediate access.
Club FinancialsOcean Beach Surf Club Inc. Profit & Loss [modified cash basis] for Club years 2024, ten months ended October 2025, and projected to December 20252026 Club Budget Proposal which includes historical budgets for 2024, 2025 and preliminary 2026Audited Financial Statements December 31, 2024
The annual dues for 2026 will remain at $800per home (pending approval), with a breakdown as follows:
Fund Operations - $600
Fund Reserves (cash reserve/potential capital needs) - $200
This will allow OBSC1 to build a cash reserve at the end of 2026 of approximately $60,000 with an eventual objective of having a reserve of $100,000. This is about what was needed when we had the last major disruption like Hurricane Sandy. In addition, a reserve of $32,000 for the necessary capital expenditures including bulkhead, sidewalks, minor road maintenance, major lifeguard equipment, etc. All these funds will be set aside in a special reserve not to be touched, and reported to members each Spring and Fall meetings by our accountants.
The primary reasons dues to FUND OPERATIONS are projected to be $600 in 2026 includes the following:Reduced legal fees since much of the costs are being paid by insurers
Increased badge income by $20,000 in 2025 with expected to increases of an additional $4,000 in 2026. This is a direct result of our new programs over the past two years to have security guards check for badges and implement a system for rented homes in the community. These programs are 100% effective
Controlled expenses despite cumulative inflation of 10% over the past 3 years:
Audit & tax preparation fees down 45%
Guard salaries remain flat despite minimum wage increases
Badge salaries down $16k versus increase in security costs of $7k
Insurance costs remain flat despite typical 10-15% year over-year increases due to changing carriers
Meeting Minutes
Unapproved draft meeting minutes from our Spring 2025 meeting held on Saturday, June 14, 2025 are included here for review.
Trustee Elections
Trustee elections will be taking place on Saturday during our meeting. The voting process will take via physical ballots which will be tallied by independent member(s) of the OBSC1 community. One vote per lot is permitted. We have included summaries below of each candidate seeking election for review prior to casting your vote.
JEFF CONGERI have been a member of OBSC1 for over 25 years and have served as a Trustee for almost 10 years. As Trustee, I have had the responsibility of overseeing the Bay Beach along with helping the other Trustees whenever needed. I have enjoyed working with the Board members as I believe we all have the Club Members best interest in mind when making some complicated decisions. Now retired I am a full time resident.
SCOTT FLYNNI have been a member of the Ocean Beach Surf Club Community since 2010. I served on the board for over 4 years as Vice President; looking to rejoin the Board. I have enjoyed the challenges and opportunities that have come as a Trustee and feel there is more to do. I truly believe that an effective Trustee is accessible and open-minded to change. During my time on the board, I have made major positive changes in our community, including communications, establishment of the social committee and clothing sales strategy. Also supplied and managed all PPE for the staff to ensure their safety while working during the pandemic (masks, gloves and sanitizers). I will continue to make a positive contribution to the community, so I would very much appreciate your vote.
GREG GEREI have been Lagoon Chairman for over 20 years, and my shore residence is ideally located to allow me to keep an eye on the Lagoon Marina. My family has been Club members since 1986. I owned a auto body/ mechanical business for 38 years. I have been the first stop for OBSC #1 boaters in need; I am willing to help or offer good advice.
JEFF MUCHAI have been on the Board of Ocean Beach Surf Club as the Recording Secretary since 2012 and my family has been members of the Club since 2009, over 12 years. I have always tried to do what is best for the club as a whole and look forward to continuing on the Board, possible in other areas of importance. I am a Certified Public Accountant licensed by the State of New Jersey and have been employed as a Senior Manager for a New Jersey CPA firm for the past 30+ years.
WILLIAM G. PARRETTI have been the President of OBSC for the past few years, serving on the board now for about 10 years. My wife Diane and I, together with our family, have owned a house in OBSC1 since 1986, after renting each year from 1976. We have six children and 11 grandchildren all of whom have grown up at the shore. I am a Certified Public Accountant and have practiced for over 50 years. I have served on a number of Not-for-Profits, including being Chairman of the United Way of America, and currently an advisor to the Board of Trustees of the NY Foundation for Senior Citizens providing Affordable Housing, Support Services, and Home Sharing in all five boroughs.
We hope to see many of you on Saturday, November 8, 2025, at 10:00am at Union Church of Lavallette located at 25 Philadelphia Ave.
-THE TRUSTEES