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Duck Soup Coop Board of Directors Meeting September 21, 2011 |
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Present: Peggy James, Amanda Montgomery, Tania Nezrick, Ruth Peterson, Mary Helen Polensky, Patty Ruback
Absent: Mary Petruchius, Ashe Del Valle
The meeting was called to order at 7:07 by Tania Nezrick.
The minutes were approved as corrected upon a motion by Patty Ruback, seconded by Amanda Montgomery. The correction is in the second paragraph of the General Manager’s Report. The state income tax refund for 2009 included an interest payment of $24.00.
GENERAL MANAGER’S REPORT
Peggy James will email the budget to actual half year reports to the board. For that period we realized only a 30% margin rather than the budgeted 34%. We had a freezer repair that was not anticipated.
The waste write-off is very low. All employees work very hard to make this happen. The Healthy Advantage sales and the Weeeklies are true sales so the margin is not very high on them, but this all helps us to stay competitive. This fall the sales show a slower start than has been true in the past. We currently do about $2200 a day. Peggy is watching the cash flow very closely.
Tania asked how close we are to needing to do some drastic cut-back and what that would look like. We are not currently at a level that causes deep concern but given the economy Peggy chooses to be vigilant. The first step that would be taken given a crisis would be a reduction in inventory. The second step would be drawing on a line of credit, but neither of these steps is in our immediate future.
Amanda asked why DSC seems to be out of things recently. Peggy responded that the warehouses seem to be out of stock on a larger number of items lately. Eggs would be one item not from a warehouse but they are in great demand and we sell all that our vendor can produce each week and thus sometimes run out. She encouraged us all to be sure to talk to the assistant manager about any stock concerns we might have.
COMMITTEE REPORTS
The Outreach Committee has moved the date of the Fall Festival to October 15. They will meet on October 5 at Patty’s home to finalize details.
The Finance Committee will need to meet during the next month to draw up next year’s budget.
Peggy said the consideration will be given to how we should participate more fully in the use of green energy. Now, however, we are involved in contracts that we need to honor.
Mary Helen moved and Patty Ruback seconded a successful motion to adjourn at 7:40 p.m.
Ruth Peterson Secretary
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