September 2015 Board of Directors Meeting Minutes

Black Star Board of Directors Meeting Minutes

DATE: September 20, 2015

LOCATION: Arts + Labor

 

CALL TO ORDER 12:05p

ATTENDING DIRECTORS: Michael Handy, Charles Hueter, Annelies Lottman, Kenley Maddux, Joe Silva, and John Vinson

ATTENDING CO-OP STAFF: Nicole Renaux

 

Public Comments

None.

 

Consent Agenda and Action Item Review

Kenley and Annelies moved to add D.7 Planning and Budgeting to the agenda, Michael moved to add stock repurchase discussion, Ann B.6 Board Committees. Kenley moved to adopt as amended, SOMEONE seconds, vote passed 6-0-0.

 

A.4 Worker Treatment Policy Monitoring Report

Submitted and declared in compliance by Nicole.  The board discussed some details about staff turnover, most of which were in kitchen and pub team.  Kenley moved to adopt, Michael seconded, vote passed 6-0-0.

 

Operations Update

Nicole reported that live music is still in the early stages but shows promise.  Distribution sales are healthy, a loyalty rewards program might launch as early as October, the staff are waiting on permits for the patio shade project, and the co-op was well-represented at the Great American Beer Festival.

 

Leadership Development Committee Update

Michael reported the there are four candidates running and all are eligible.  John might be able to fill in temporarily if needed from January he said he is not likely to run again., maybe give M-O board discount for helping with board stuff and volunteering.

 

Adding 0.0 Policies to Calendar

Ann was concerned about the utility of the idea, whether we'd always say in compliance if the sub policies are all in compliance, maybe monitor them at the end of the board year, Ken suggests delegating to Nicole a calendar for future discussion.

 

System Audit Committee Update

Cole was not present but the current project should be complete and needs verification.  Nicole will take feedback from Ken and base further action on CDS suggestions.

 

2016 Board Roles and Committees

No volunteers for president at this time, so everyone will get trained as a backup and also get Survey Monkey training.  At the new board seating meeting, the board will discuss and assign the additional roles identified by the board to be filled: creating the board packet, tracking action items, direct volunteering, annual report creation, and timekeeper.

 

BREAK

1:17

 

Internal Session

Kenley moved to enter internal session at 1:28, SOMEONE seconds, vote passed 6-0-0. The board discussed the D.7 Planning and Budgeting and D.4 Financial Condition monitoring reports, the 2016 budget, and heard an update from Nicole on MISO operations.  SOMEONE moved to accept the , Annelies seconds, vote passed 6-0-0.  D7.3 major noncompliance, using best assumptions and historical data but the budgeting was wrong and need to be more conservative.  D4.4 change interpretation to 3-5%.  Q4 possible time for M-O card info harvesting.  Kenley moved to adopt D.7, Michael seconded, vote passed 6-0-0.

D4.3 and D4.4 noncompliance and things being triedD4.1 debt to equity is low.  D4 quick ratio of 1is ideal, WA recommended to up the average cash balance in savings account. 

Talked about loan progress.  Kenley moved to adopt, Joe seconded, vote passed 6-0-0.  Internal session ended at 2:55pm.

 

Annelies moved to adjourn 3:03pm, Charles seconded, vote passed 6-0-0.