Mad River Glen Cooperative
Finance Committee Minutes
June 11, 2015
Attendance: Andrew Snow, Andy Dulik, Annika Holtan, Bill Reynolds, Bruce Button, Geordie Hall, Jamey Wimble, Jim Elkind, John Eberlein, John Tobin, Pete Ludlow, Richard Gervase, Russ Bowen, Ron Shems, Eric Friedman, Sharon Crawford and John Stetson
The meeting was brought to order at 8:03 AM.
Bill moved to approve the minutes of the 6/4/15 meeting; seconded by Jim. All voted to approve the motion. The approved minutes will be posted.
Jamey presented the May financials with comments as follows:
Jamey presented the Tiered list of proposed summer spend with comments as follows:
Geordie moved to recommend to the Board that the tiered list of summer spend be approved, without work on the sled caches; Bruce seconded. All voted to approve the motion.
Jamey presented the cash forecast with comments as follows:
Geordie moved to recommend to the Board that $100K be taken from the LoC in June; Bruce seconded. All voted to approve the motion.
Jim noted that the Board will be taking an action to approve Phase 2 of the Demont services at the June 13th meeting. The commitment of $317,500 is consistent with the budgets and forecasts, and is anticipated to be repaid through proceeds from the capital campaign.
The FC will meet again on Wednesday, July 8th and Thursday, August 13th. The meeting adjourned at 8:40 AM.
John Stetson, Treasurer