Board of Directors
MEETING MINUTES
January 26, 2022 - 5:30 pm
ZOOM meeting - Hosted by K. Schaaf
Attending: President - Shari Gross, Vice President - Alison Kaminski, Secretary - Kevin Schaaf, Treasurer - Michael Barron , Directors: Derek Golembeski, Joelyn Bush, Liz Bugbee, Amanda Gates, Chauncey Dumbuya Brown (attended late)
Staff Personnel: General Manager- LeAnna Nieratko, Marketing Manager - Heidi Yeagle***,** Board Assistant* - Alethea Bodine
Guests: Rick Sherbondy
President, Shari Gross welcomed everyone by allowing introduction and opening the floor for comments, from those Member/Owners present, to the board.
Comments: There were no comments from attending Member/Owners or guests. AGENDA:
Shari Gross called the meeting to order at 5:30
Review of Last Month’s Minutes; K. Schaaf
Motion was made by Derek to accept January 2022 Minutes as written. Liz seconded. All were in favor. Motion passed.
Treasurer Report; M. Barron
Michael shared that - moving forward - the Treasurers’ Report will be given as needed. CEO/GM Reporting
Sales for December were $430,014 which is 10.4% above LY and 1.46% above plan. Transactions were up 19.8%. A notable transaction driver is the comparison of sales in the café from December 2020 to December 2021. Made-to-order sandwiches & wraps increased 109% over the same timeframe, with café sales increasing 50% overall.
Cheese, meat and bakery all saw 40%+ increases.
Net income for November was -$1,671 of which $7,230 will be shifted to Downtown pre-opening costs for a total of $6,983 for the 26th store.
There were (21) new Member/Owners and (2) equity refunds.
Cash balance stayed stable at about 24 days cash on hand.
**FYIs**
Downtown Store:
As of 1/24/22, $245,000 have been raised in loans and $30,000 in grants for the capital campaign. With this in mind, the EFC is moving ahead with the opening date of March 10th 2022.
LeAnna reported that she is keeping track of all expenditures and allocations - 26th St. and Downtown.
Newly contracted Store Manager, Vivian, is finishing up training. She is working towards the Membership Drive for Downtown. Jobs have been posted for Grocery, Food Service and the Bakery Manager.
26th Street Store:
EFC opened late 1/4 to install new piping in the basement.
EFC was closed on 1/17 due to over 2 feet of snow in the city.
The staff survey which is being processed through Columinate, will end in March.
Discussion: Derek asked where the most recent funding came from. Shari and Michael agreed that this information will be shared during the Executive Session.
Shari asked how supply has been, as well as employee retention and morale. LeAnna shared that she does not have too many concerns regarding the opening of the store - in terms of supply and display. She also shared that there has been some movement internally with management, but the staff continues on. She felt the Staff Survey would be telling of the overall sentiment about the expansion plan.
B9 - Emergency Management Succession; L. Nieratko
LeAnna reported compliance on all points. She pointed out that the EFC has insurance of continuity of GMs Services with Columinate.
Motion was made by Amanda to accept the GMs Reporting and compliance with Policy B9 - Emergency Management Succession. Michael seconded. All were in favor. Motion passed.
Board Policy Evaluation: D3 - Delegation to the CEO/GM & D4 - Evaluation of the CEO/GM
Discussion: Liz Bugbee asked if a disinterested 3rd party had ever been contracted to examine and assess the GM’s Evaluation. Shari responded that the BOD has never historically hired 3rd party for this task.
Motion was made by Derek to find the BOD compliant with the Board Policy Evaluations - D3 & D4. Amanda seconded. All were in favor. Motion passed
Board Learning: Understanding the CEO/GM Report; L. Nieratko
LeAnna shared that her regular reporting is a mixture of graphs and information that is timely and relevant, so that when Quarterly Reports come along, there is no disconnect with outcomes. She asked if there was something more she could offer to support her reporting.
Discussion: Joelyn asked if Supply and Staffing could be added to the monthly reporting. Michael asked if a yearly or quarterly FInancial Standing Meeting could be held for the BOD and members.
LeAnna responded that Columinate offers a quarterly program for this purpose specifically. Kevin responded that he had attended and found it informative, especially for new board members. LeAnna added that she will put an additional bit of information in her reporting about supply and staffing.
New Business:
Capital Campaign Committee Report; D. Golembeski
A meeting was held on Monday, Jan. 24th regarding the acquisition of a sustaining loan. He shared that, since Monday, there has been another loan that further supported the needed final funding. Shari thanked everyone that contributed, especially Derek, for the Capital Campaign Drive. She feels the dividends will continue to come in for years to come from this work. Derek Golembeski was recognized for his hard work and full investment in the effort to conduct a comprehensive Capital Campaign and was given a EFC hoodie and a GC for the Flagship Food Court.
PG Committee Task; S. Gross
As of 2021, the Board decided to make the PG Committee a Standing Committee. The PG Committees first task is to read and compare the newest Policy and Guidance provided by Columinate, with that of EFC.
Proposed Product Policy Committee; S. Gross
The EFC Product Policy may need some work in an effort to work with the opening of the Downtown Store. Programs like WIC have some very stiff requirements that don’t necessarily coincide with the current Coop Policies. She asked if an ad hoc committee could be formed to address these concerns. Liz, Amanda, Joelyn and Derek volunteered.
Columinate Retreat: February 19th, 9 - 11 am
Zoom meeting during which the new location will be discussed at length. Shari mentioned that another retreat could be planned during the more temperate months. More materials on the Retreat will be sent as this date approaches.
Closure:
Next board meeting is February 23, 2021 at 5:30pm.
Michael made a motion for the meeting to adjourn. Derek seconded. Meeting adjourned at 6:28 pm. —
The Board then went to Executive Session.
Minutes respectfully submitted by ALethea (Lea) Bodine, Board Assistant