Mad River Glen Coop
Finance Committee Meeting
November 23, 2005
Committee meeting called to order by committee chair Jed Kalkstein at 8:35 AM via conference call.
Committee members in attendance: Eric Schoenholz, Jeff Paduch, Andy Dulik, Mary Schramke, Leigh Michl, Jed Kalkstein (Chair).
MRG Staff: Jamey Wimble
The committee reviewed and discussed the draft of the Fiscal 2005 audit and management letter.The management letter contained three minor issues that require simple actions to correct but was otherwise acceptable.
The committee discussed certain line items in the audit:
The committee voted in favor of accepting the audit as presented.
The committee reviewed the P&L results for October.MRG is tracking budget.Of note on the cost side, Jamey will explore further the increase in credit card services fees.
Jamey and Jed briefed the committee on the existence of a commitment letter with Northfield Savings Bank in anticipation of a future discussion on how to properly finance the single chair.The committee found the terms and conditions of the commitment acceptable.
The committee chair will call the next meeting as needed.
The meeting adjourned at approximately 9:00AM.