Mad River Glen Coop
Finance Committee Meeting
April 4, 2002
Committee meeting called to order by committee chair Deb Steines at 3:30 PM via conference call.
Committee members in attendance: Roy Liu, Eric Schoenholz, and Deb Steines, Chair. Absent – Leigh Michl
Shareholders in attendance: Andy Dulik and Lu Putnam.
MRG Staff: Jamey Wimble.
Capital Proposal for summer 2002
- It was agreed that no activity would be appropriate for tier 2 or 3 due to the relatively poor season.
- Tier 1 was discussed; it was noted that the board had approved $48,900 for the first 8 projects on the list at the March meeting.
- The cash flow statement was reviewed for all of Tier 1. It was noted that the capital spending was overstated by $20,000 as in-house labor was accounted for in the operation losses for May through September. Actual cash estimated at $300k will probably be higher as all expenses will not hit the books before year-end September.
- This recommendation will conform to the spending formula.
- It was unanimously agreed to recommend the board approve Tier 1 capital. Jamey will manage the details as to whether he will actually do all projects based on cash flow and time management.
Next Meeting –
Thursday, May 2nd, 3 PM, via conference call.
The meeting adjourned at 3:50 PM.
Agenda items for the next meeting:
- Finalize Mission Statement
- Patronage Rebate administrative concerns – Deb to discuss with Peter first.