In Attendance: Sam Rodriguez, John Starr, Shawn Stein, Robert Bower, Tammy Brandner, John Klear, Sandor Halasz, and Mike Kelly.
The meeting was called to order by President Sam Rodriguez at 6:00 P.M.
Sam Rodiguez motioned to approve last meeting's minutes. Motion passed with all in favor, none opposed.
General Manager Mike Kelly presented the General Manager's Report to the Board.
Treasurer John Starr presented his report to the Board.
The current financial records contain a discrepancy of approximately $1000 between the first quarter profits and and the first quarter profit and loss amounts. John Starr also remarked that the excel spreadsheet he uses for maintaining the Treasurer's financial information is organized differently than the QuickBooks software used for reporting by the store's accountant, and that this is an issue that needs to be addressed. John S. will give an updated and corrected report to the Board at the next meeting,
John S. received a letter from Deborah Zeigler, who represents the Robert Jackson estate, asking that the store consider accelerating its repayment of the loan or obtaining refinancing in order to pay it off in full.
John S. proposed to the Board that the Coop use Directions Federal Credit Union instead of a bank. John S. considers use of Directions' services is more in keeping with the Coop's philosophy of utilizing local businesses. He presented to the Board printed materials from the Directions website that explained the fees associated with having a business checking account and remarked that the costs are essentially no greater than that of the bank.
John Klear did not have a website report to present.
Sam Rodriguez began discussion regarding using member equity share funds to pay for the annual premium for Board insurance. He then motioned that the annual premium in the amount of $975 be paid with equity funds, and that these funds are to be repaid from store income on a schedule to be determined by the Treasurer. The motion was passed with all in favor, none opposed.
Discussion and voting regarding Sandor Halasz' proposal for a revised membership share payment schedule was tabled.
Sam Rodriguez ajourned the meeting at 8:00 P.M.