Present: Kelli, Patrick, Caitlin, Ramji (via phone), Wannette, Cal
Member Owners Present: none
Staff Present: Matt, Tim, Linda
Meeting Called to Order at 6:29PM
Member Open Forum
Patrick was approached by an owner at the Coffee and Conversation on May 18 regarding the use of single use plastics in the stores. He brought this idea forth for discussion at a future board meeting, and Caitlin recommended we focus on environmental responsibility at an appropriate place in our Ends Reporting in order to give time and attention to this topic.
Approval of Minutes
Cal made a motion to approve April 24, 2019 meeting minutes; Wannette seconded; approved 6-0-0
B1 Financial Conditions Report (Matt)
Cal motioned to accept B1 report noting non-compliance on B1.1 and B1.2; Kelli seconded; approved 6-0-0
Finance Committee Report (Cal)
April showed a bump in sales; April is usually a strong month in sales but this month was not as strong as years prior. Cost-cutting measures helped the organization’s EBITBAR but an increase in sales growth is imperative for long term stability. Managements’ cost-cutting measures have been so successful that even a modest uptick in sales growth will be substantial. Cal reinforced that the success of the competitive and differentiative strategies presented in the B1 report are essential for the organization. Ramji reinforced Cal’s comments, and recommended the Board focus on the financial condition of the organization at each Board meeting and stay focused on current initiatives scheduled for the next 12-15 months. Complete transparency and staying focused on current goals is essential at this point.
MOR Committee Report, Board Election Schedule, and Brand Manager Update (Wannette and Matt)
Planning Committee Report (Matt and Caitlin)
We will focus on these at the August retreat.
August Retreat and Calendar (Caitlin)
Cal made a motion to adjourn; approved 6-0-0