Finance Committee Meeting Minutes; November 6, 2014





Mad River Glen Cooperative
Finance Committee Minutes
November 6, 2014

Attendees: Annika Holtan, Geordie Hall, Jamey Wimble, Jim Elkind, John Stetson
The meeting was brought to order at 8:05 AM. (Due to a problem with, the phone
line was out of service and a substitute line was assigned moments before the meeting began.)
The minutes of the meetings held on 8/7/14 and 9/10/14 were approved.

There was no meeting held in October.

Jamey presented the October Financial reports, with comments and discussion as follows:

1. Monthly Basebox revenues and expenses tracked well due to increased volume and 2 good
weekends in October. Management will evaluate the pricing and costs over the winter.

2. Services Income is down reflecting lower participation in the ski school and race programs. Race
is declining nationally. Freestyle continues to be very strong. Might a summer camp for the
freestyle be worthwhile?

3. Fundraising campaign expenses have been expensed at the accountants’ recommendation. The
BAMP costs will remain on the balance sheet as prepaid project costs.

4. Cash is a concern as we go into the year. Geordie suggested that we prepare projections based
on various scenarios.

5. The loan taken on the line of credit has been repaid.
The meeting adjourned at 8:32 AM.

Respectfully submitted,
John Stetson