• Trails Open: 28
  • Lifts Open: 4
  • New Snow: 0-0"
More Lifts / Trails
  • Surface: Variable...
  • Temp: 34°F
  • Windchill: 34°F
More Weather

Mad River Glen Cooperative
Finance Committee Minutes
April 2, 2015


Attendance: Andy Dulik, Annika Holtan, Bruce Button, Deb Steines, Gary Lange, Geordie Hall, George
Lesure, Jamey Wimble, Jim Elkind, John Tobin, Lars Bruns, Leigh Michl, Pete Ludlow, and John Stetson

 

The meeting was brought to order at 8:02 AM.


The minutes of the 3/11/15 meeting were approved by the committee (motion - Deb, 2nd – Geordie, all
in favor). The minutes will be posted to the Forum.


Jamey presented the March P&L and Cash Projection, with comments and discussion as follows:
1. March was a strong month, but also incurred higher expenses.
2. YTD NOI is up $80,000 over last year.
3. Jamey will provide monthly reporting of cumulative campaign income and expenses.
4. Campaign consulting expenses have been deferred to November.
5. Payment for the new snow gun has been deferred to Oct/Nov, and the cost has been reduced to
reflect demo pricing.
6. Cash is $90,000 higher than last year.
7. Jamey will be evaluating the model.


Share redemptions – There are 34 shares tendered during FY 2014 for a total payout of $46,052. The
committee voted to recommend to the board that the shares be redeemed promptly (motion - Geordie,
2nd – Bruce, all in favor). Share redemptions will be considered by the Board at 4:30PM on Saturday,
prior to the Annual Meeting.


The next FC meeting will be on Thursday, May 7, 2015.


The meeting adjourned at 8:23 AM.


Respectfully submitted,
John Stetson
Treasurer

SIGNUP FOR SNOW REPORTS & NEWS