August Board Minutes

in

Regular Board Meeting Minutes

19 August 2025

 

Present:   Kay Coburn, Maggie Jones, James Hiebert, Paul Cowan, Kate Miers, Leannah Fidler

Staff Present: Ashley Elliott (HR Director, IGM), Sean Silverson (Finance Director, IGM), Amanda Verigin (Marketing Director), Lucas Mjolsness (Deli Manager, only as noted)

Chair: Kay Coburn

Recorder: Sadie Yancey (Board Administrative Assistant)

 

Meeting brought to order at 4:33 pm on Zoom

 

Adoption of August Meeting Agenda:  M/Paul S/Maggie,  no amendments. All in favour.

Declaration of Interests: Ashley declared that a vendor is now renting commercial space from her family.

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

Approval of consent agenda, including: 

  • Governance Committee minutes 
  • Board Development Committee minutes
  • Finance Committee minutes
  • Member Engagement Committee minutes
  • HR Committee minutes

M/Leannah S/James

The Governance Minutes were updated to reflect attendance. 

CARRIED. All in favour.

 

Business Arising

  1. Manager of the Month -Lucas Mjolsness, Deli Manager
      1. Lucas shared with the board information about the Deli’s department’s new expansion, opened earlier in the day. 
      2. Lucas responded to questions from directors. Directors celebrated the awesome work of the department and excitement for new products

4:45pm Kate arrived

4:50pm Lucas left

  1. Review member feedback – There was no feedback this month
  2. Director Compensation – The board will request an increase to compensation at the AGM. 

MOTION To  accept the recommended rationale and resolution text, as amended. 

M/ Leannah S/ Paul

The document was amended to reflect a clearer measure of ‘profitable’, as this is not a well-defined term 

CARRIED All in favour

 

  1. AGM  – There was general agreement to include a land acknowledgement in the AGM.
  2. Approve revised policies – The Governance Committee circulated several policies to update (Records Management, Employee Director, Board Election) one to remove (ED Election Procedure) and one new (Director Compensation) 

MOTION To approve the amended policies, as circulated

M/Paul S/Maggie

CARRIED All in favour

 

  1. Board Article – The Member Engagement Committee drafted an article for the website

MOTION To approve the board article, as circulated

M/Leannah S/Paul

A phrase in the article prompted a question for the IGMs.  Most staff live in the Nelson area, and it’s estimated about 25% grew up in Nelson. 

CARRIED, All in favour

 

  1. Patronage return – The Co-op accrued $100k in FY2025 in anticipation that patronage would be raised from the budgeted amount of $75k.  

MOTION To approve a patronage return of $100k for the fiscal year ending May 31, 2025

It is noted that this approval is needed for the auditors and the board may choose to distribute a different amount at the September meeting after reviewing the audited financial statements and sales breakdown. 

M/Maggie S/Leannah

CARRIED all in favour

 

  1. Pay balance of VanCity equipment loan
    1. The Finance Committee recommended the board approve full repayment of the VanCity equipment loan.  This is the highest-interest loan and the Co-op has sufficient cash on hand to repay the loan and have sufficient operational reserve. This is expected to add $250k to cashflow over the next year. 
    2. It was noted this is a 15 year loan, renewing annually, and was paid off in 8 years. 

MOTION To pay the balance of the VanCity equipment loan

M/James S/Kate 

CARRIED All in favour. 

 

  1. Reviewing committee calendars, Succession Planning and Board Sharing.
    1. The Chair presented several ways to make the board more effective, particularly as transition to new committee assignments after the AGM.  There was general agreement for committees to update their workplan and calendar before the AGM.

 

IGM Report – Presented by Sean Silverson and Ashley Elliott

  1. Sean shared the highlights from the July financials, as circulated.  As with the last number of months, sales and net income continue to be strong, with July sales approximately 11% above the same month last year.
  2. Mid-year Attrition report
    1. Ashley shared the mid-year attrition numbers, compared to 2024, and common responses from exit surveys. 

 

Next Meetings:

Sept 16th – 5pm in-person

Sept 25th – AGM, Board asked to arrive 5pm

Oct 21st – 5pm in person 

 

The meeting adjourned to in camera session at 5:45pm