Board of Directors
Meeting Minutes
Wednesday, November 26, 2024
EFC Community Room, 1341 W. 26th
Kevin Schaaf called the meeting to order at 5:32pm.
Attending: President - Kevin Schaaf, Vice President -Derek Golembeski, Treasurer - Shari Gross, Secretary - Liz Bugbee; Directors: Colleen Daisley, George Kilbert
Staff Personnel: Chief Executive Officer/General Manager - LeAnna Nieratko; Marketing Manager - Heidi Yeagle
Guests: 1 member-owner in attendance.
Member Owner Comments: The member-owner in attendance asked if the Board had thought further about the possibility of having an EFC staff member on the Board. There was agreement that more information needs to be collected from various avenues including other co-op Boards and our Columinate representative in order to form a well thought out response.
Review of Last Month’s Minutes: Liz Bugbee
One minor date correction was made after which a motion was made by Shari Gross to accept the minutes as written. Colleen Daisley seconded.
Treasurer's Report: Shari Gross
There were 24 new fully paid members and 4 requests for return of investment Motion was made by Liz Bugbee to accept the treasurer’s report. Derek Golembeski seconded. CEO/GM Reporting: LeAnna Nieratko
CEO/GM Report: LeAnna presented and reviewed the October report. Sales for October were up however net income was down. Affecting net income were several large tax payments made and purchases for which refunds are still pending. Cash on hand remains above the 10 day threshold. Several large changes are happening that are expected to have a positive financial impact including automatic invoicing, a new payroll company, and bringing the chart of accounts in line with other co-ops.
B8: Board Logistical Support: LeAnna reported evidence of compliance with all parts of the policy.
Motion was made by Derek Golembeski to accept the CEO/GM report and policy review. Colleen Daisley seconded.
Board Policy Evaluation: Kevin Schaaf
The Board discussed that the overview of the policy register was best accomplished for the new Board members during orientation.
Board Learning: There were no questions about the policy governance principles put forth. The new Board members will review this topic during orientation.
New Business:
Election of New Officers:
President - Shari Gross
Vice President - Keven Schaaf
Treasurer - Colleen Daisley
Secretary - Liz Bugbee
Reform Committees: Committees will be reformed at the December meeting.
Retreat and Annual Meeting Recap: The retreat covered policy governance and Board members appreciated the examples of real world application of policies in that it helped reframe how the Board looks at issues at EFC. The annual meeting location, food, and music was well received. Thanks to Heidi, Ash, and Chris for your help and for a very well done annual report.
Closure: Next board meeting is December 18, 2024 at 5:30pm.
Motion was made by Colleen Daisley to adjourn the meeting. Shari Gross seconded. Meeting adjourned at 7:10 pm.