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Fiscal Year 2014 Operating & Capital Budgets

Fiscal Year 2014 (FY14) is 52-weeks long, running July 1st, 2013 to June 29th, 2014. Co-op bylaw 6.2 requires that management prepare an annual budget with input from the Board and its Finance Committee, the Board approves the budget, and a consolidated version of the budget is published and distributed to the Owners.

The FY14 budget was initially approved by the Board on June 18th. On October 22nd, the Board approved a revised FY14 budget which incorporated the approved Willy East Remodel project. It is the revised FY14 budget that is discussed and presented here. Some of the highlights from the budget:

  • Investing$4M for a major remodel at Willy East.

  • Implementing staff restructure, including the addition of a category management team and more strategic/collaborative organization of management positions.  

  • Relocating administrative staff to a centralized office to increase efficiency and collaboration.

  • Continuing to focus on staff engagement, including increasing training budget, overhauling our staff evaluation process, implementing collaboration tools, and rolling out open book management.

  • Focusing on our current Owners by sharing our story, reaching out to inactive Owners, emphasizing in-store experience, and creating a means for Owners to provide more input regarding their shopping experience(s).

  • Launching the Local Vendor Loan Fund to support expansion of our local product vendors.

FY14 Budget by the Numbers     
[The below numbers are rounded.]   
 $40,000,000in total budgeted sales   
 $25,600,000in cost of goods sold (63.8% of sales)  
 $7,500,000in total wage expense (18.8% of sales)  
 $4,000,000in capital expenditures (see accompanying capital budget)
 $3,000,000in benefits, taxes, and other personnel related expenses (7.6% of sales)
 $450,000in debit/credit card processing fees 
 $400,000in repair and maintenance expenses 
$340,000in rent expenses
 $280,000in new Fair Share equity payments
 $280,000in utility expenses  
 $240,000in Access (need-based) discounts   
 $55,000projected surplus (aka net income)

Approved FY14 Operating Budget     
The operating budget is a detailed projection of sales and expenses to support and guide day-to-day Co-op operations. 
 FY14 BudgetFY13 Actual
 $% of sales$% of sales
Total Sales$40,062,462100.0%$38,779,451100.0%
Cost of Goods ($25,560,674)-63.8%($24,719,212)-63.7%
Gross Margin$14,501,78836.2%$14,060,23936.3%
Personnel Costs$10,581,30026.4%$9,654,39124.9%
Other Operating Expenses$3,980,7009.9%$3,657,2489.4%
Total Operating Expenses$14,562,00036.3%$13,311,63934.3%
Income (Loss) from Operations($60,212)-0.2%$748,6001.9%
Total Other Income (Expenses)$115,2120.3%$146,6800.4%
Income Tax Expense$00.0%($109,000)-0.3%
Net Income (Loss)$55,0000.1%$786,2802.0%


Approved FY14 Capital Budget  
The capital budget includes significant, long term investments to support strategic initiatives (sales growth and/or operational efficiency), equipment replacement, or facility improvement.
Video Conferencing$15,000Video conferencing between sites to improve communication and collaboration while reducing time/expense/environmental impact of driving.
Google Aps$18,000Cloud-based collaboration tools including email, calendaring, and file sharing.
Web 2.1$6,500Improved site functionality, visitor experience, and better connect Owners to their Co-op.
Postage Machine$4,000Equipment replacement for admin office.
East Major Remodel$3,797,538Total $4M major remodel project. $202,462 was spent during prior fiscal year.
30 Quart Mixer$6,000Adding 30 qt. mixing option while retaining existing mix capacity will enhance productive capacity.
6 Burner Gas Range$8,000Equipment replacement in Kitchen.
Bench Scale$4,200Equipment replacement in Kitchen.
Produce Kiosk$12,000Prototype innovation. Mount a multi-touch screen near the produce department to allow for interaction with produce product data.
Vacuum Packer$6,500Equipment upgrade. Faster packaging to accomodate expansion of prepared meats program.
Sauage Stuffer$4,500New equipment to support expansion of prepared meats program.
Lighting Upgrade$6,500Lighting renovation in the West produce and deli areas.
Nutrifaster$2,300Double capacity of the production in the West Juice Bar.
Ceiling Fans$5,500Additonal ceiling fans to support West energy efficiency and air comfort.
Unallocated/Contingency$146,000Unallocated is reserved for contingency and for projects that require additional planning before approval. This budget will include Centralized Office Space


If you have any questions regarding the FY2014 budget or other Co-op financial matters, feel free to email me at


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