Fiscal change

The approval process for the Operations and Capital Budgets has changed from a year ago. Last year, in June 2007, the membership was asked to review and approve the budgets as recommended by the Board of Directors. This year, the membership is no longer required to approve the budgets, per the changes made and accepted to the by-laws in March 2008.

Management is still responsible for preparing draft budgets for the finance committee to review. And, the finance committee is still responsible for reviewing and recommending a proposed budget to the Board. The Board approved at the June meeting the FY2009 Operations and Capital Budgets.

The finance committee provided management with key assumptions for drafting the initial FY2009 Operations budget; as a percent of sales margin 35.65%, direct labor 23.99%, and net income of 1%. These key assumptions are very close to what has been approved in previous years.

The membership will have an opportunity to review the budgets in an upcoming issue of the Reader or on the Co-op website.

AMM Location UPDATE

Our Annual Membership Meeting is Thursday, July 10th. Check our website or page 12 for location details.

Le Fête organizers have had to relocate the festival from the Central Park to 50 S. Baldwin Street, the intersection of Washington and Baldwin Streets. As Le Fête organizers reported, “The new site offers outstanding amenities while providing time for Central Park to improve its grounds able to handle the large crowds that turn out to La Fête.”

After 8:00pm, the Co-op Annual Membership Meeting and Party is open to the public.

Board of Director elections

There is still time for you to consider running for the Board of Directors! Deadline for candidate statement submission is July 10th, at the AMM. Please visit the Co-op website for detailed information.

Second site update

Metropolitan Place II (MPII) still remains an unknown entity at this time. I have scheduled a conversation with the court appointed receiver (who is managing the property for the bank) for the end of the week of June 16th. I don’t have any details to report on a resurrected new deal lease or count proposal, but will report any as they become available.

Please check our website (www.willystreet.coop) or the Information Station in the store for the most up-to-date information. And feel free to contact me with questions or concerns:or 251-6776 x470.

Got any spare change?

Occasionally people asking for money approach our customers while entering or exiting the Co-op building or parking lot. Over the past few months there has been an increase in this activity over previous years. This activity—panhandling—is hard to manage; some customers have said they feel threatened when approached and asked for money and feel further intimidated if they do not comply with the request.

The City has an ordinance against this activity, and is enforcing the ban against panhandling throughout Madison and limiting activity on State Street to one designated area.

I am asking for your support to discourage this activity on Co-op property: please do not give money when asked, and notify Customer Service if you have been approached. We have posted a list of organizations that offer services to people in need that goes beyond the next meal including shelter, health screening, and vocational assistance; we recommend donating to these organizations rather than individuals. Our August grilling in the lot event will also raise money (and awareness) for Street Pulse, the homeless cooperative newspaper.

Auxiliary parking

We have rented the parking lot across the street from the retail store for staff since 2002. Effective this month (July 1st, 2008) the lot will no longer be available for our use. The property owner, Yellow Dog, LLC, was ordered by the City to bring the site into compliance for use as a parking lot (meaning the space needed to be paved and landscaped with curb cuts meeting the prescribed standards).

Yellow Dog is opting to not do this work; therefore the lot will be closed and barricaded.