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Attendance: Bruce Button, Sharon Crawford, Bob Demont, Jim Elkind, Eric Friedman, Geordie Hall, Meg Hourihan,  Annika Holtan, Matt Kenney, Pete Ludlow, Ron Shems, Andrew Snow, Deb Steines, John Tobin, Caisil Weldon

                   

The meeting was brought to order at 8:01 AM. 

 

Eric Friedman reported on efforts to repair the Creamery slide. John Tobin brought the committee up to date on the resignation of Jamey Wimble.

 

The minutes from August were reviewed. Geordie Hall moved to approve the minutes, Meg Hourihan seconded. All were in favor.

 

John Tobin and Sharon Crawford reviewed the August financials. Pub income is up due to the increased hours, the pub business is generating positive feedback and keeping our staff employed over the summer, but it is running at a slight loss. Costs are down for facilities and insurance due to the furloughs. Cost are down for the store as we are delaying orders to help with cash flow. The store will be ready for the coming season. A discussion followed about the Pub operation and how to get staff better informed about the performance relative to budget.

 

We sold six shares in August which is better than normal. Eric Friedman was asked to report on his conversations with individuals that tender shares and if he had any data on individuals that purchase shares.

 

Annika Holtan let the committee know that we are deferring consideration of the campaign pro-forma spreadsheet so that we can have FY16 end of year financials. Nate Martin is reviewing the existing cap ex document to make sure it is up to date with current needs.

                           

Bob Demont thanked the FC members for their support of the capital campaign. He reassured the committee that his firm is committed to seeing the campaign through to completion. He also would like to see 100% campaign participation from the committee by the end of this calendar year.

 

Annika reminded those that have made pledges that it would be helpful if they can deliver on their pledges early this year.

                                                               

Geordie Hall asked that it be noted that the committee thanks the staff for rallying over the past week to pull together the financials for the meeting.

                                                                                                                                                   

Geordie Hall moved to adjourn, seconded by Bruce Button. The meeting adjourned at 8:40 AM.

                           

The Finance Committee will meet again at 8:00 AM on Thursday, October 20.

 

Respectfully submitted,

John Tobin, Treasurer

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