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Cooperation works!
Co-op continues to enjoy financial growth

Board Meeting highlights from May, June and July

Financial Overview

  • Sales for May totaled $2,228,757, which represents an increase of 6.42%. Customer counts were up 5.47% from last year.
  • In June, sales totaled $2,064,347, an increase of 4.13% from this time last year. Customer counts were up about 5%.
  • Sales were even better in July— $2,649,514—up almost 9% from last year. Customer counts were up almost 4%.

Relocation Update
As with most major projects, we’ve experienced a slight delay in when we expect to start construction and open the relocated store. Part of the reason is that we are working closely with SMUD to make the building as energy efficient as possible. Our plans call for employing state-of-the-art sustainability practices, possibly including a natural ventilation system, to reduce our energy costs. As a result, we are now expecting to open in early 2015, pending approvals from the city. The Board has also authorized the extension of our lease at our current location in the event there are additional delays.

Co-op to Launch Preferred Shares Offering
The Co-op Board plans to announce the first sale of Preferred Shares in the next few months. These nonvoting shares will allow you to invest more in our Coop, receive a much higher rate of return than local lending institutions, and help finance our new store. Our application is pending at the California Department of Corporations. Look for more information coming soon!

New Board Director
Last June, Joel Erb was appointed by the Co-op Board to fill the seat vacated by Andrenna Taylor who resigned from the Co-op Board after relocating out of the area. Joel Erb is an attorney raised in Davis and Sacramento and educated at UC Berkeley and Harvard, whose practice primarily focuses on property and business transactions. His clients include vendors and producers of sustainable local foods and wines, and his long personal commitment to the Co-op and the importance of producing and eating quality food led him to seeking appointment to the board. We welcome Joel’s service and wish Andrenna all the best in her new home.

Electronic Voting
The Board’s Policy Committee is ascertaining the feasibility of online voting in member elections. If you have thoughts or feedback on Electronic Voting in Coop elections, please contact me using the contact form on the Co-op’s website here and select Michelle Reynolds from the pulldown menu. My contact information is also available at the Customer Service Desk.

Engage with your Board
The Co-op Board’s business meetings are held on the first Tuesday of every month at 6 pm in the Community Learning Center & Cooking School at 1914 Alhambra Boulevard, adjacent to the Co-op store. Come out to observe your Board discussing the important business of the store. Additionally, the Co-op Board hears concerns and solicits input from members at our Quarterly Meetings. This fall’s Quarterly Meeting will be held at 7 p.m. Tuesday, December 4 immediately following the Board meeting. The Co-op Board is also posting meeting and contact information above the microwave in the deli area.

—Submitted by Michelle Reynolds, Co-op Board Secretary
Please note: This report is a summary and does not reflect full details of everything that occurred at the Board meetings. Complete minutes are approved by the Board at the following month’s meeting and are subsequently available to owners in the “Owner Information Binder” at the Customer Service Desk, as well as online here.

 

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