Mad River Glen Cooperative
Finance Committee Minutes
November 12, 2015
Attendance: Bruce Button, Andy Dulik, John Eberlein, Geordie Hall, Richard Gervaise, Pete Ludlow, Bill Reynolds, Andrew
Snow, Deb Steines, Jim Elkind, John Stetson, John Tobin, Jamey Wimble.
The meeting was brought to order at 8:01 AM.
Geordie Hall moved to approve the minutes of the 9/10/15 meeting; seconded by Pete. All voted to approve the motion.
The approved minutes will be posted.
Jamey presented the October financials. Income is $110 ahead of the previous year. Preseason pass sales have been
strong with a lot of new people making purchases. The line of credit has been paid down. Fall Basebox income was a bit
slower than previous years. There were some concerns about not running the Single on Columbus Day weekend, but
Jamey said we are only permitted to run a few days off season and we did not want to go over the official limit with our
Income was below budget for Marketing due to timing, and expenses were lower also due to timing for Coop, Admin,
and Facilities. The share proceeds account has a total amount of $37K in share tenders to go out against $87K that has
come in so we have plenty of replacement capital. We are slightly ahead of budget on cash coming from the campaign.
The double new hut is very nice and was built with labor donated by the Patrol.
For the end of year for fiscal year 2014‐2015 our net operating income is up $111K.
A discussion of campaign financial procedures followed, and members of the committee felt that it is vital that robust
financial policies & procedures be in place for approving capital expenditures and tracking expenditures related to the
campaign. The committee asked for a meeting to review these policies & procedures in more detail.
Geordie moved to adjourn, seconded by Bruce, all voted in favor.
The meeting adjourned at 8:26 AM.
The FC will meet again at 8:00 AM on Thursday, December 12.
John Tobin, Treasurer