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St. Louis Flying Club Newsletter - 30 May 2024

From The President - By Steve

Dear Members,

It was great to see everyone at the club meeting. We all got a chance to meet the newest members of the club, a safety briefing from Dave Paland, the latest updates from John on the status of the airplanes, the financial details from TJ, a member status update from Pic, the Oshkosh lottery results from Brian, and lunch and dessert courtesy of Damian and Beth. Thanks to everyone that was able to participate and a special thank you to the officers for keeping the club moving in the right direction.

A warm welcome to our newest member Kirk McDonald. Kirk is planning on getting checked out in all the planes so say hello if you see a new face around the hangar.

As we see better flying weather the pressure on the Cessna is increasing but the availability is still better than I anticipated. Some of that pressure will come off soon as the Arrow engine is being installed and the RV engine just arrived. The hangar is a busy place these days!

Steve

Treasurer's Report - by T.J

BILLING STATEMENT

Comments:

  • Thank you everyone for submitting your receipts. Please ensure you review all your data thoroughly and feel free to reach out if you have any questions or concerns.
  • As a friendly reminder, the club has approved an assessment of up to $800 per member to cover costs related to the RV engine and $150 per member for the RV interior improvements. There is significant activity in the current which is discussed in the balance sheet section.
  • At the current time, I am unsure if we will actually need an assessment or not as final cash will depend on final amounts spent to get the Arrow and RV flying again. Some of this will be impacted by the amount we collect from the insurance company when we repair the Arrow to the St. Louis Flying Club maintenance standards; it is possible that some of our spend will be deemed unnecessary by the insurance company.
  • Several members have placed large sums in their accounts and this has helped us maintain a positive cash balance until we collect all funds from the insurance company

BALANCE SHEET

  • Cash - For the next several months, we will maintain cash near $0. Just after this statement closed, we made the final payment to Signature Engines for the RV engine in the amount of ~$14,500. When we pay June hangars and the credit card, this is basically zero.
  • Aircraft Valuations - Per our standard operating procedures, we revalue the aircraft on May 15 and November 15. The Cessna went up $11 thousand and while the RV & Arrow have gone up, we haven't revalued them as we are unsure how much it will cost us to get them to flying status. The Arrow and RV will be recorded at fair value when they are placed back into service.
  • Major Work - this represents our spend on the Arrow and RV, net of insurance proceeds. This will be netted to zero with an offsetting increase in aircraft valuation when the planes are put back into service.

   Maintenance - by John

N202CR RV-7A

  • Annual Inspection/Engine Installation - Work continues on the RV in preparation for installing the engine. The new brake discs and pads were installed. All the wheel pants were sanded down, repaired, and repainted. Larry did a great job on the wheel pants refurbishment!
  • Engine - The RV Engine just arrived from Signature on June 6th and we hope to install in on June 7th.

N20843 Cessna 172M

  • No Maintenance Actions required this month

N2242N Piper Arrow IV

  • Wings - Larry installed the SB-1161D rib repair kit on the right wing and we are waiting to receive the repair kit for the LH wing. The RH main gear strut was installed in the RH wing and we are in the process of finishing up the RH gear installation.
  • Engine - The engine was delivered from Poplar Grove on May 24th and was hung on the Arrow with four new Lord shock mounts on May 28th. Most of the connections to the engine were completed when I received an email from Aircraft Spruce saying to return the four Lord Engine shock Mounts due to a pending Service Instruction Letter. We contacted Lord to see what we need to do and they said the Service Instruction Letter is in their legal department and they can't comment until it is released. We will likely have to replace the shock mounts and we should be able to do it without having to remove any of the connections already made to the engine.


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