Board of Directors
MEETING MINUTES
January 26, 2022 - 5:30 pm
ZOOM meeting - Hosted by K. Schaaf
Attending: President - Shari Gross, Directors: Derek Golembeski, Joelyn Bush, Liz Bugbee, Amanda Gates, Chauncey Dumbuya Brown (attended late)
Absent: Vice President - Alison Kaminski, Secretary - Kevin Schaaf, Treasurer - Michael Barron
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; S. Gross
Motion was made by Derek to accept February 2022 Minutes as written. Liz seconded. All were in favor. Motion passed.
CEO/GM Reporting; L. Nieratko
Sales for January were $365,708 which is 3% above last year and down 2% to plan. The performance to plan was impacted mostly by two incomplete sales days: 1/6 the Co-op was closed a half day for some pipe work in the basement, and 1/17 the Co-op closed unexpectedly due to weather for the entire day. The weather event spread over several days of sales results. The Co-op has not closed for weather since December 2017.
Net income for January was -$39,492 of which $14,015 will be shifted to Downtown pre-opening costs
related to payroll. Staff is working to fine-tune processes for differentiating expenses between
locations.
• Cash balance stayed stable at about 22 days cash on hand.
• Additional impacts to net income and cash for this period:
• Landscape cost for the big snow event = $5,230
• New piping for the basement = $2,900
• Down payment for phones approved in the business plan = $3,947
Staffing Updates:
Open Positions - 26th Street: (1) Downtown: (5)
Things to note: The Co-op will be posting for part-time positions downtown the week of February 28th.
Inventory
There were no missed shipments during this time frame, even with the inclement weather events. There are a few notable long-term out-of-stocks including many items in bulk and wellness.
Our delivery for the new store is protected outside of manufacturer long-term-out-of-stocks.
FYIs
**26th Street**
Downtown Opening
Discussion: Derek asked how abandoned equity was being rotated into the LiME program. LeAnna explained that Front End staff is keeping track of memberships that come through LiME and will refund equity based on where the funds came from.
Shari applauded LeAnna on the completion and outcome of the Employee Review. She also applauded LeAnna’s securing of two very important grants. Liz asked if there was a timeline for using these grants. LeAnna answered that she did not believe there were.
B1 - Financial Condition; L. Nieratko
Typically the administration meets with accountants prior to reporting on this policy review. She reported that they were able to deliver the data needed in a timely manner.
Cash balance and liquidity are good. No defaults. No new debt. No new leases. And no overdue tax filings.
There were no questions and no discussion from the directors.
Motion was made by Derek to accept the GMs Reporting and compliance with Policy B1 - Financial Condition. Amanda seconded. All were in favor. Motion passed.
Board Policy Evaluation: C 1 - Governing Style
A copy of the Board Code of Conduct was circulated to be printed, reviewed, signed and returned to the Coop by all Board Members.
Discussion:
Motion was made by Liz to find the BOD compliant with the Board Policy Evaluations - C1. Derek seconded. All were in favor. Motion passed
Board Learning: New Store Downtown Managers; L. Nieratko
Vivian reported that she has been enjoying her first weeks as the new downtown Store Manager. She has been attending the new location regularly. A local news (WICU) will be reporting on the newest location. She also shared that the Booker Washington Center - through a partnership with Mercyhurst College - will also be doing a piece about the new store and the renewed access to fresh foods in the downtown area.
Discussion:. Derek asked if Vivian might share more about herself. Vivian volunteered that she is an Erie ‘implant’ or ‘transplant’. She came to Erie with her father many years ago as he searched for work. She is originally from Mississippi. She has three children of her own. She sits on several boards and is a self proclaimed ‘social butterfly’. The directors welcomed her to the Coop.
New Business:
Board Assistance Requested with Opening Of Downtown Store
The first grocery shipment will arrive on March 4th. Thereafter, it will be all hands on deck. LeAnna agreed that she will share times directors can come to volunteer. Jocelyn mentioned that she wanted to support the ‘moving’ staff to get and keep the newest staff going. Shari offered that if there was anything specific in aid in the move, to please share.
Product Policy Committee Report; Tabled
Columinate Retreat Follow Up and Feedback
Derek appreciated that it was short - due to it being offered virtually.
LeAnna shared that she appreciated how the Retreat was conducted as a series of questions, “What questions are you being asked?”
Shari requested if BOD Meetings could be conducted downtown in the basement. She will be reaching out to directors to gauge people’s comfort with attending in person.
Closure:
Next board meeting is March 23, 2022 at 5:30pm.
Jocelyn and Chauncey made a motion for the meeting to adjourn. Derek seconded. Meeting adjourned at 6:07 pm.
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Minutes respectfully submitted by Alethea (Lea) Bodine, Board Assistant - 2/23/22