Mad River Glen Coop
Finance Committee Meeting
May 7, 2003
Committee meeting called to order by committee chair Deb Steines at 2:00 PM via conference call.
Committee members in attendance: – Eric Schoenholz, Jed Kalkstein and Deb Steines, Chair.
Absent: - Leigh Michl, Roy Liu and Mark Renson
Shareholders in attendance: Andy Dulik
MRG Staff: Jamey Wimble and Andrew Snow
· Other income reflects the elimination of the ‘plug’ estimate used in 2002-03 for season passes.
· Day tickets and season passes reflect income at the increased rates
· The expenses reflects a $49k increase in insurance which was partially offset by increased deductibles on healthcare; the increase in facilities expense was based on current year actual; and the marketing expense was reduced by $19k.
· The marketing budget will concentrate on retention of existing customers.
· Jamey is very comfortable with this ‘no fluff’ budget.
Other – discussed a method to count skiers on any given day using bar codes on tickets and passes for data gathering. We do have the technology today. The committee agreed we should do this, but only on select days during the season.
Recommendation – We support this budget and recommend the board accept as presented.
Next meeting on will be in late June or early July to finalize the Strategic Plan recommendation.
The meeting adjourned at 2:00PM.
Agenda items for the next meeting:
· Debit Cards instead of Mad Money (future discussion)
· Funding analysis, finalize in July