Each month, The Merc Co+op Board of Directors shares the decisions and topics discussed at their most recent meeting, promoting transparency and accountability with co-op owners.
About the Board
The Merc Co+op's Board of Directors is comprised of nine co-op owners who are elected by the general ownership and serve a three-year term. Any co-op owner can run for a board position.
The board creates a set of policies to govern themselves and the General Manager, who provides the group with regular reports on store operations. The board delegates all operational matters to the General Manager.
Board Meetings
All co-op owners are invited to attend monthly board meetings. Early in the agenda, the board reserves ten minutes of space to hear from owners who wish to address the board.
February Meeting
Mark Sprague, Board member and Owner Engagement Committee member
The Merc Board met virtually, Monday evening February 6, 2023.
After approving minutes for the previous meeting and the agenda, the General Manager, Rita York Hennecke, shared updates on various items such as hiring the new HR Director and progress with the next phase of the remodeling.
One of the important things the board does is review monitoring reports on progress our co+op is making toward satisfying the goals outlined in our Ends Statement. Tonight’s report from the GM, was on Financial Stability. After review and discussion, the report was accepted as compliant, excepting Days of Cash on Hand, which was lower than our standard while financing for the refrigeration units was being finalized. It was agreed, Rita would provide monthly updates until this was completed.
Anthony Lang reported on Owner Engagement opportunities. The recent Cookie Decoration event in the Lawrence Store Classroom/Dining room, Saturday, February 4th, was very successful with around a couple hundred participants. In April, which is Owner Appreciation Month, the board will plan to do “tabling” and other events to have face to face contact with owners at both stores.
The final item of business was reviewing plan for the Board Retreat. This is annual activity where directors, the General Manager and some of the staff gather informally to work out the plans for the year while strengthening our bonds and focus. This will be the first time, since COVID, we have been able to do this in person. The retreat is scheduled for February 18, at the KU Armitage Education Center.”
Patronage Rebates
Thanks to a successful year of sales, your board of directors approved the payout of over $27,000 back to our most loyal shopper-owners.
Patronage rebates are just one of the many benefits of co-op ownership. Learn more and join the co-op today!