The HWFC Board of Directors met on Wednesday, October 27.

Finance

The Board discussed a draft donation policy. An ad hoc committee consisting of the Board member who wrote this proposal, the staff member who administers the program, and the Operations and Administrative Coordinator will use this draft to refine the proposal. They will report back to the Board.

It was decided that the Coop should lower the interest rate at which money has been loaned to the Capital District Community Loan Fund, which makes loans to nonprofit organizations and small businesses. The current rate is 2%, which, it was noted, is more than the Coop would get from a bank. The Board agreed to lower the rate to 1%.

It was noted that the Coop is doing well compared to other coops, and some people are concerned that there is too much profit. Several Board members pointed out that since the Coop may be moving, we will need to have as much cash on hand as possible and that no steps should be taken to reduce profit at this time. The Board agreed.

Shares

The Coop policy regarding shares is that each adult member of a household must purchase one share. This policy has not been enforced for some time and the Board discussed how to rectify the situation. It was agreed that the policy will be enforced at the cash register, that the issue would be discussed at the member dinner and discussed in a Coop Scoop article.

Communications

The Board discussed approval of articles on Coop policy that appear in the Coop Scoop. It was decided that such articles written by a member of the Collective Management Team (CMT) should have the prior approval of two members of the Team and one Board member. When written by a Board member, the approval of three other Board members is needed. In response to a query, it was noted that the Coop Scoop is the Coop’s newsletter that exists for the benefit of the membership. Whether or not the Scoop makes money (within reason) is not an issue. The Scoop is currently actually under budget.

Committee Chairs

It was noted that it is desirable that committees be chaired by Coop members who not members of the Board nor paid staff. However, this is not required. It is more important to have a functioning committee, so sometimes a Board or staff member will act as chair.Board-Staff Discussions The Board planned meetings with the CMT for November and December.

Executive Session

The Board met in executive session at the end of the meeting.

Minutes of all meetings are available at the Coop. Minutes of the most recent meeting are posted on the bulletin board.