September Board Minutes

in

Regular Board Meeting Minutes

16 September 2025

Present:   Kay Coburn, Cathy-Ann Glockner, Maggie Jones, James Hiebert, Paul Cowan, Kate Miers, Leannah Fidler

Staff Present: Ashley Elliott (HR Director, IGM), Sean Silverson (Finance Director, IGM), Ben Morris (Produce Manager, only as noted)

Chair: Kay Coburn

Recorder: Sadie Yancey (Board Administrative Assistant)

 

Meeting brought to order at 5:01pm in Teaching Kitchen

 

Adoption of September Meeting Agenda:  M/Cathy-Ann S/Leannah,  one addition. All in favour.

Declaration of Interests: none

Approval of August Meeting Minutes:  M/Paul S/James, no amendments. All in favour.

Approval of consent agenda, including: 

  • Governance Committee minutes 
  • Finance Committee minutes
  • Member Engagement Committee minutes

M/ Cathay-Ann S/Paul

HR, Hiring and Board Development did not meet this month

CARRIED. All in favour.

 

Business Arising

  1. Manager of the Month – Ben Morris, Produce Department
    1. Ben shared with the board information about the Produce department – an overview of the upcoming changes to staffing and suppliers, and a reminder that the Co-op is a ‘massive success story.’ 
    2. Ben responded to questions from directors. Directors celebrated the appearance and quality of the produce department. 

5:22pm Ben left

 

  1. Review member feedback. Two members provided feedback on the election platform. 
  2. Election update.  477 ballots have been cast.  The board will be tabling on 19th and 23rd. 
  3. AGM reminders. The board discussed AGM logistics for the board and managers. 
  4. BCCA Event/Co-op Week.
    1. There is a BCCA event on Oct 20th that directors may choose to attend. 
    2. Co-op week is October 12th-18th and the Co-op plans to host an event outside the store on Friday Oct 17th. 
  5. Audited financials.

MOTION To approve the audited financials for FY2025, as circulated

M/Kate S/James

Sean responded to directors questions, including:

  • There was a record net income of $1.8M
  • Bank charges were up significantly – this is due to the increased card fees from increase in sales.
  • Property taxes were up significantly – this is due to a change in the accounting for property taxes of other properties within strata. With this adjustment, the actual increase was 7%

CARRIED All in favour. 

Sean will get a clean balance sheet and will have Kay and James sign it. The chair thanked Sean and his team for the diligence.  Sean shared that the auditor was scheduled better this year and the audit was ready. 

 

  1. Employee bonus

MOTION To approve an employee bonus pool of $200k for FY2025, distributed according to employee policy.

M/Maggie S/Leannah

It was noted that:

  • This amount is $50k more than FY2024 and does not include employment contributions
  • There are two bonus pools – an ‘hours-based’ bonus for staff who have worked less than 5000 hours, and a ‘long term’ bonus for those who have worked more . The ‘long term’ bonuses can be quite large and this is intentional – to thank employees who have stuck around.  This year the hours-based bonus will increase by 10c for each hour worked in FY2025. 
  • Ashley noted that she has not found a good comparator for how this is done at other Co-ops.
  • The bonus will be paid on September 26th

CARRIED All in favour.

 

  1. Surplus Funds Report

MOTION To approve the Surplus Funds Report, as circulated

M/Paul S/Kate

This report specified the amount of earnings that will be distributed to employees ($200k), to members ($100k), and the final  payment of the VanCity loan.   As with previous years, patronage will be distributed as a store credit.  A discussion ensued. 

CARRIED All in favour

 

  1. Committee succession planning
    1. Governance proposed that they circulate a draft of committee assignments prior to the October meeting. This will be based on the preferences of current directors, the declared skillsets of candidates, the expected officers and committees required by policy. There was general agreement that this is appropriate.
  2. Board Calendar 
    1. Governance proposed a new format for the Board Calendar. There was general agreement.

 

IGM Report – Presented by Sean Silverson and Ashley Elliott

 

  1. Sean shared the highlights from the August financials, as circulated.  As with the last number of months, sales and net income continue to be strong, with August sales approximately 13% above the same month last year.
  2. Sean shared that the Co-op’s liquidable assets exceed debt.  Directors celebrated the efforts of staff, management, and members to get to positive new worth after the costly construction project.
  3. Questions from member attendees – There are no non-board members in attendance.

 

Next Meetings:

AGM – Thursday Sept 25th – 5:30pm 

Oct 21st – 5pm in person, 4:30pm dinner

 

The meeting adjourned to in camera session at 6:11pm