Shareholders: Eli Godwin, Will Kriewald, trustee elect, John Skelly, Matthew Kenny
8:07am Call to order, shareholder comments (Matthew M): There were no shareholder comments.
Consent Agenda Items
Approve minutes for May 2021 Board Meeting (Matthew M): minutes were approved
III. Reports and Discussion
Management Report (Matt L), See attached, Summer operations have begun and the mood is positive! Crowds have been strong through the past few weekends of the Pub’s opening. Roof for the Basebox is on schedule for between now and October.
Finance Committee Report (Brad N): Attached. Due to the shorter month, the chief concern of the FC meeting was the pass sales and operating budget. The 2nd PPP loan has been forgiven, flipping from liability to income, resulting in a strong cash position. The budget proposal includes a break even budget for the coming year. The major change for next season will be placing caps on all pass sales to preserve the skiing experience. Shareholders will always be able to purchase pass products regardless of sales status. The FC recommends accepting the budget as presented.
2021-2022 Operational Budget – Discussion (Matt L): the budget as presented represents a break even budget. Considerations are being given to preserving the skiing experience while still keeping the Co-Op profitable. This allows additionally, for weather related issues.
2021-2022 Pass Pricing Strategy – Discussion (Matt L): Season pass sales will be capped at 10% of last year and the pass deadline will be September 30, unless we sell out prior to that. Day ticket sales will be capped on the busiest days. The window rate for day tickets will go to $97. There will be a new Mad Card product which will be limited to one individual and will have direct-to-lift access with a 3 or 6 day option. The September 30 date will more closely align with the expiring credits and APR requirements. The overall plan is to continue spring pass sales, as well.
Action Item: 2021-2022 Operational Budget Decision (Matthew M): Brad moved to accept the budget as presented, Barclay 2nd. The motion passed unanimously.
Strategic Planning Committee Report (John S): the SPC has been doing interviews on sustainability, economic concerns, community engagement, and skier experience. They have been additionally using listening posts to gather information from interested parties. These sessions have provided the committee with a broad range of opinions.
Sustainability – there has been praise regarding the enhanced snowmaking through the choke points on the mountain, but has also brought the realization that the snow line is moving. Water continues to be a driving issue.
Economic issues – general agreement that the Co-Op must be able to cover ongoing maintenance with a certain percentage of planned obsolescence. Questions have arisen regarding the relationship between SMF & the Co-Op. Transparency is valued regarding pass pricing and relation to living wage.
Community engagement – strong support for a friendly atmosphere where all are welcome. What is in our control: accessibility and affordability.
Skier experience – lower skier density and natural snow have been strong themes. People are supportive of longer lift lines for the payoff of on-mountain solitude. Support has been strong for the protocols used during COVID. Midweek programs for all ages enjoy strong support. Praise has been offered regarding the skinning lane from last year.
Facilities Committee Chair: Britton Rogers, Board Representative: Meg Schultz
Action items: Carol moved to accept the Executive Committee slate as presented. Meg second. Motion passed unanimously.
Ron moved to accept the slate of officers as presented. Carol seconded. Unanimous acceptance.
Meg Schultz moved to accept the committee appointments as presented. Ron Shems 2nd. Unanimous acceptance.
Outgoing Trustees – Offboarding & Thank-you – Discussion (Matthew M): outgoing trustees are Leigh Michl and Ron Shems. Matthew Milanread a statement from Leigh in lieu of Leigh’s attendance. Heartfelt thanks to both Leigh and Ron for their years of service to the board.
Incoming Trustees – Welcome & Onboarding – Discussion (Barclay R) New trustees, Will Kriewald and Jeff Whittingham will be onboarded in the coming weeks.
GM Performance Review Process – Discussion (Matthew M) – the board has been meeting weekly to discuss and has also gathered feedback from employees through an anonymous survey.
Brad, Matthew & Barclay will be meeting with Matt Lillard to go over the review and then will present the compensation package for approval. Additionally, the board will engage in planning conversations with Matt regarding goal setting for the Co-Op. Discussion was had regarding the timing of the review process and whether it should be changed to earlier in the year or continue to align with the board calendar.
Board Executive Session (Matthew M) Board moved to executive session at 9:32am. The board will be adjourning without taking action following the executive session.