MENU

x

Board of Trustees Meeting Minutes: November 20, 2021

MEETING MINUTES HISTORIC ARCHIVE

Type

Year

 

Board of Trustees Meeting Preliminary Minutes

Mad River Glen Cooperative

Date: Saturday, November 20, 2021 8:00 am

Location: Hybrid (Online & In-Person

Present: Matt Lillard, Carol Pierce, Matthew Milan. Jeff Whittingham, Will Kriewald, Barclay Rappeport

On Zoom: Meg Schultz, Deb Steines, Alan Kirkpatrick, Leigh Michl, Andrew Carey, Brad Noble

 

Shareholder Comments

8:08 AM        Call to order, shareholder comments

  • Leigh Michl Shareholder Statement Letter (attached)

Leigh asked that the Co-Op develop a shareholder/skier privacy policy in regards to data.

Matthew suggested that the Strategic Planning Committee could address this matter in terms of the shareholder atmosphere. Andrew commented that it might be more of an operational issue.

 

Consent Agenda Items

Approve minutes for Sept 2021 Board Meeting. Approved by consent agenda.

 

Reports and Discussion

Management report (Matt Lillard): Targeted opening date is 12/11, weather permitting. Seasonal staff is beginning to return. Snowmaking has had one day of operation so far, with more predicted for the coming cold snap. Staffing continues to be an issue. The pub will re-open on 11/27 for weekend service from 2-7pm. The office staff will be back in person next week. Discussions around ticket availability will focus farther out on the season until conditions develop.

Covid safety remains at the forefront of planning. With no guidance from the state, MRG will continue to plan for the safety of all. There will be indoor masking this season when not actively eating or drinking. The Pub will be hosted seating only. Any larger events will be ticketed events with vaccination proof required.

The Basebox is ready to roll for the season. Birdcage F&B service will return as well as the Snack Shack.

The WES Ski & Skate sale was a success. The snow reporter will return for the season and continue to develop the MRG brand type of reporting which makes us stand out in that area.

New trail map will be printed next week.

All lifts have passed inspection and mountain ops are ready to go. We have two new stick guns.

Retail store is ready to go with a planned shareholder program for 11/27 & 28.

Ski school, race & freeride all have strong numbers. Daily lessons will return this season. The Mad River Ski Club is moving to include Freeride & Race.

Rental/Repair – we will be offering daily rentals again this season.

MRG has a net metering solar agreement for this season. Teamed up with Mehurons to purchase the credits. There was a subsequent discussion regarding EV chargers.

Finance Committee Report (Andrew Carey): We are in a great cash position starting out the season.

In summary, for the period of the month of October 2021:

  • The Co-op posted a net income of almost $1.4 million of which $1.5 million was pre-season sales. The base mountain operation ran a deficit of $100,000 which was inline with the budget.
  • Pass sales eclipsed the budgeted amount by almost 30% – $1.3 million vs $1.0 million.
  • Card products (Stark Mountain Card) amounted to 2,385 skier days with an average price of $71.27 versus 2019 Mad Card pricing of $58.72.
  • Services income (Ski School, Racing, Freeski) were up from budget by 37%.
  • Both the Stark Mountain Pub and the General Store saw sales at least twice their budgeted numbers.

 

Side discussion in regards to setting up committee assignments, led to suggestion that committees be stood up each June meeting. Should be added to the next board meeting for action.Matthew & Will will prepare this for the December meeting. Deb Steines commented as to attendance requirements for committee meetings as well.

Strategic Planning Committee Report (Brad Noble): There was a further listening post during Green & Gold as well as a meeting with Eric Palola to gather further information. Next meeting is December 1st and the committee will begin to present deliverables with a goal of April presentation to the shareholders.

 

Action Item

Hardship Share Redemption Request (Matt Lillard): Matt had a request from a shareholder for hardship redemption. The shareholder has two shares and would like to redeem one of them prior to December. Carol moved to accept the redemption request. Will seconded. Unanimous acceptance.

 

Open Items & New Business

Meeting adjourned at 9:27am

Manager’s Report 11.20.21

November 2021 Finance Committee Report