September is here and schools are back in session. It is nice to feel the energy flowing through our university towns and across the region. Congratulations to both the Vandal and Cougar football and soccer teams for a great start to their seasons!
The September 2023 Moscow Food Co-op Board of Directors meeting was held on September 5th at the 1912 Center from 6:00 – 8:00 p.m. Present were eight of nine Board members, our General Manager and Co-op staff, and one Co-op owner.
We reviewed and accepted the General Manager’s monitoring report for Policy B1 covering financial conditions and activities during the second quarter of 2023. The report was thorough in covering several financial statements including profit and loss, cash flow, and the balance sheet. Both second-quarter sales were up, and despite cost increases, net income was positive. A recent change imposed by the IRS requires that long-term leases be included as a debt, even though no actual debt has been accrued. This affects our debt-to-equity ratio. but only on paper. The Board adjusted our self-imposed target for compliance to compensate for the change and will reassess as needed. In addition, 2022 annual sales were up and approaching pre-COVID numbers.
The Board also monitored its C6 Board Officer policy. After a healthy discussion, we found ourselves in compliance with the sub-policies as we understood them and as they were written however, we determined that several sub-policies need corrections and/or wording changes.
The Policy and Bylaw committee will work on correcting the noted issues and bring the policy back to the Board for approval. We also decided that job descriptions are needed so we are clear on the officer’s roles. It is very encouraging to see us working together to do our jobs well!
In other business, the newly merged Board Owner Communication Committee (BOCC) and the Nominations and Elections Committee (NEC) reported they are still wrapping up some language and deciding on a new name. Also, a date was set for our fall retreat that did not conflict with anyone’s schedule. And, the GM’s FYI report was again very informative and encouraging showing increases in sales and ownership!
For our Study and Engagement Series, Tom Lamar, Executive Director for the Palouse Clearwater Environmental Institute (PCEI) gave a great presentation on the history and accomplishments of PCEI in areas of environmental stewardship, restoration, sustainability, and education for both children and adults. Several of the Board members noted that their kids had been involved in Palouse Roots and the Nature Explorers programs. Furthermore, PCEI is a great place to gather, as our Board did for our spring retreat! We all appreciate the contribution PCEI makes to our community! For more information and to check out their programs and calendar, visit their website at https://pcei.org
Our Study and Engagement Series is a way in which the Board and staff become better informed about issues and activities that affect the community around us. One of the Seven Cooperative Principles states that we have “Concern for Community,” and listening to people describe aspects of concern in our community is directly tied to our Ends.
Ends Policy:
The Moscow Food Co-op is at the heart of a thriving, healthy, and inclusive community where:
We embody and embrace cooperative principles and values.
All community members have local access to environmentally friendly, socially responsible, and healthful choices.
Again, I want to remind everyone that your extra produce can be shared by placing items in the cooler in front of the Co-op at the Backyard Harvest Donation Station. Just use the Fresh Food Connect App to schedule drop-offs.
The next Board meeting is scheduled for October 3, 2023, in the Fiske Room at the 1912 Center (412 E 3rd St, Moscow, ID). The meeting will begin at 6:00 pm. Current Co-op Owners can attend in person or via Zoom. To attend via Zoom, contact the Board Administrative Assistant at boardadmin@moscowfood.coop for more information and to RSVP. Further information about our Board meetings is at moscowfood.coop/board-meetings
Sincerely,
Mark Thorne, Board President