Location  &  Hours Search Contact Us Join


You are here: Home --> About Karma --> The Board of Directors --> Minutes of Board Meetings --> Monthly Minutes

Monday, June 30, 2004 (7pm) MINUTES APPROVED

Board
Present: Graeme Hussey (President/Board Chair, Human Resources Committee Liaison), Andy Summers (Vice President, Promotions Committee Liaison), Geoff Webb (Treasurer, Finance Committee Liaison), Christie Stephenson (Secretary), Jason Diceman (Annual General Meeting Committee Liaison), Justin McNabb (Food Issues Committee Liaison), Grif Cunningham (Property Management and Planning Committee Liaison), and Aysa September (Web Committee Liaison, Member Labour Committee Co-Liaison).
Regrets: Anil Reddi (Chronicle Committee Liaison, Orientation Committee Liaison), Lachlan Story (Member Labour Committee Co-Liaison).
Staff
Present: Sarah Fairley (General Manager)

1. Approval of Agenda
Agreement by consensus to approve the agenda with the addition of an in-camera item.

2. Correspondence and Announcements
Graeme reported there had been no correspondence from members. Christie added there had been no email messages send to the board. Graeme noted that the date of the August board meeting would be changed to the 30th of the month.

3. Minutes
Agreement by consensus to approve the minutes with an amendment to clarify which budget had been approved and reflect the fact that the Web Committee report had been submitted.

4. Business Arising
4A. Appointment of board member - Jason Diceman

Jason provided board members with some information about his background and interest in serving on the board.

Agreement by consensus to appoint Jason Diceman as a board member to fill the vacancy following Ed’s departure.

5. Executive Reports

5A. President (Graeme)

Report submitted:

Action Items Completed:

Action Items Not Completed:

Announcements to the board and committees:

Discussion

Graeme distributed the task list generated at the board retreat and said he would follow up with board members individually.

Graeme requested that board members also let him know about their intentions in terms of remaining on or running for the board again, as well as their committee or executive position interests.

Graeme noted he would like to develop a closer relationship with ONFC and other co-ops in Canada and internationally. Jason suggested the Ontario Co-op Association would be a good contact.

5B. Vice President (Andy)

No Report submitted

NOTE: There is one attached document that pertains to the vice president report, Craft Sale Event.

Action Items Not Completed:

5C. Treasurer (Geoff)

Report submitted

See attached document titled, 040630-Treasurers Report and 2004-05 Budget.

Discussion

There was a discussion of Geoff’s budget figures and what assumptions the projections they were based on. He review several budget options. There was support for the budget that assumed a 4% rate of growth and a wage line that assumed non-management staff raises but did not account for increases in management costs. Graeme noted that there would be a budget review half way through the fiscal year and adjustments could then be made to the figures as needed. Geoff also indicated that the budget that the board preferred included figures to build a $3,750 capital reserve (reflected as expense items) over the first four months to begin rebuilding the reserve fund which has now been depleted.

Aysa asked whether the amount budgeted for bank charges accounted for the introduction of debit and credit cards. Geoff said no, because it was unknown how much those charges would be.

Motion to adopt the 2004/2005 budget presented by the Treasurer (Webb/Hussey) passed unanimously.

Sarah noted that the inventory count had been $6k higher than expected so the net income had been brought to a $20k loss, $13k of which had been due to the blackout losses. She and Geoff agreed that the Blackout Recovery Plan had been a success in raising revenue. She noted her preference would be to leave the resulting new markup (minimum average of 1.325%) in place.

Motion to maintain the markup level introduced under the 2003/04 Blackout Recovery Plan (Webb/Summers) passed unanimously.

Geoff reported that Karma’s bookkeeper Victoria Bale had indicated that the year end financials were ready to go to the auditor.

Motion to send the final financial statements to Karma’s auditor (Webb/Stephenson) passed unanimously.

Graeme pointed out there were five months in the budget adopted where Karma was anticipating a loss. Geoff indicated that the projections were based on past experience and that it would be up to the board to address it, perhaps in the context of the business planning committee that had be discussed.

Agreement by consensus to establish a Business Planning Committee that would include the President, Vice President, Treasurer and other members as required based on their knowledge and expertise.

Justin suggested that the Business Planning Committee consider increased and/or variable markup strategies.

5D. Secretary (Christie)

Report submitted:

Action Items Completed:

6. Committee Reports

6A. AGM Committee (Christie)

Report submitted:

Date of last meeting: NA
Date of next meeting: NA

Action Items Completed:

Action Items Not Completed:

Questions for the board:

Discussion

Jason asked on behalf of the AGM Committee whether board members had any concerns about the capacity maximum of Palmerston Library Theatre, which only holds 120 people. There was a discussion about anticipated turnout levels and a general feeling that the PLT would be large enough. There was also a suggestion that the committee look at past attendance figures before making a final decision on the location.

6B. Chronicle Committee (Anil)

Report Submitted

Date of Last Meeting: 15 June 2004
Date of Next meeting: 11 August 2004

Action Items Completed:

Action Items Not Completed:

Announcements to the board and committees:

Questions for the board:

Discussion

The Chronicle Committee submitted a question to the board about whether Karma would like to use its excess 81/2 x 11 paper stock as it is planning to use 81/2 x 14 for future Chronicle issues. There was a suggestion that the committee contact Sarah about whether the co-op would like to use it.

6C. Finance Committee (Geoff)

Report submitted

Date of Last Meeting: June 19, 2004
Date of Next meeting: July 17, 2004

Action Items Completed:

Action Items Not Completed:

Announcements to the board and committees:

6D. Food Issues Committee (Justin)

Report submitted:

Nothing to report

NOTE: The food issues committee report will be submitted late because of a rescheduled meeting.

6E. Member Labour Committee (Aysa & Lachlan)

Report Submitted

Dates of last meetings: May 29-30 and June 8, 2004
Date of next meeting: TBA

Action Items Completed:

Action Items Not Completed:

Announcements to the board and committees:

Questions for the board:

Other Notes:

Discussion

The question in the Member Labour Committee report was tabled until the next meeting when Lachlan is present.

6F. Orientation Committee (Ed)

Report submitted:

Nothing to report.

6G. Property Management and Planning Committee (Grif)

Report Submitted

Date of last meeting: Not Applicable
Date of next meeting: Not Applicable

Nothing to report.

6H. Promotions Committee (Andy)

Report Submitted

Date of last meeting: May 10th. No meeting in June as there were 6 events.
Date of next meeting: Second week of July

NOTE: There are two attached documents that pertain to the promotions committee. The Promotions Committee-Draft Event Calendar and the Promotions Committee-Budget Meeting Minutes.

Action Items Completed:

Announcements to the board and committees:

Questions for the board:

Discussion

In response to the question by the Promotions Committee about corporate rates, Sarah clarified that Karma does not have a corporate rate and suggested that the board may want to revisit the issue to determine if it was something that should be pursued and established. Graeme noted that the question might be one to consider in the context of developing a strategic plan for Karma. Aysa said she had heard Karma did have one corporate member. Sarah said she would find if this was still the case.

Discussion related to questions contained in the committee report was tabled as Andy had to leave early.

6I. Web Committee (Aysa)

Report submitted:

Date of last meeting: May 25, 2004
Date of next meeting: June 29, 2004

Action Items Completed:

Action Items Not Completed:

Announcements to the board and committees:

Discussion

Aysa noted that the committee would be making changes to email accounts and will contact the individuals and committees affected. It will also be setting up committee lists (for example, one address that goes to all board members).

Sarah and the committee discussed getting a member for IT support as it was outside the mandate and resources of the committee. Jason suggested the board or committee help establish specific requirements and duties.

6J. Supervisory Committee (Graeme)

Report submitted:

Date of Last Meeting: May 6, 2004
Date of Next Meeting: N/A

Action Items Not Completed:

7. General Manager's Report (Sarah)

Report submitted:

Payments to the receiver general are up to date.
Retail sales tax and WSIB payments are up to date.

Sales:

Staff:

Capital Changes

Operational Changes

Member Labour:

Miscellaneous Items:

Announcements and Questions to the board and committees:

Action Items:

Discussion

Sarah added that she had hired a member for pay to work on the member survey. She noted it was an example of a situation where having an outsourcing policy in place for the co-op would be useful.

8. In-Camera Session

9. Adjournment

Agreement by consensus to adjourn.