REPORT FROM THE CO-OP BOARD, May 2016

 

Last year we began posting regular updates from the Board meetings once the minutes were approved. We got some good feedback from that and have decided to continue the practice.  

 

Budget 

With the end of the year fast approaching it is budget time again. This involves a review of the year’s operations and projections for the coming year. Usually this is a simple process of analysis and projection but this past year a lot has happened including the changes in management and no longer having a Manager’s Assistant position. A lot has happened in the wider community too that needs to be considered as we make our projections. Fortunately we have directors with budget experience and Dorian’s expertise and long history with us to draw upon. 

 

As most members are aware, the UpFront Club has closed down, and we have spent some time looking at how to handle the two loans that the Cooperative had with us – one to assist the Club with building and equipment improvements over many years, and an operational loan we used to cover trading shortfalls as they occurred. Any useful stock, plant, equipment, goods and assets including the trading name has been transferred to us for the purpose of debt recovery and our accountants are working on the implications of the outstanding amounts for accounting purposes.  

 

Strategic Plan 

Finally, it is also time to review our Strategic Plan since the current one is now four years old. Sammy Ringer, director and editor of our newsletter, is coordinating this. She has drawn together a working group of members with business experience to review the current plan as a first step. Other members are invited to join, particularly those with retail experience. Sammy can be contacted by email at sammyringer@bigpond.com. This is a good opportunity to participate in developing the future of our cooperative without the longer term commitment of being a director.  

 

AGM and new directors 

The AGM is fast approaching and the Co-op need 2–4 new directors. As a first step we are planning an information session for interested members and hope you will attend, if only to get a better understanding of how your cooperative works.  

   In the meantime, if you would like to express an interest simply email secretary@maplestreetco-op.com with your details and we will contact you.     Don’t be put off if you don’t have board experience as a mentoring program will be set up for new directors and we are particularly interested in educating our younger members to take the reins.  Not only is being a director rewarding, you will be part of an iconic co-operative that is an important part of Maleny’s history.