PRESENT: Peggy James, Judy Krajewski, Ann Mueller, Cynthia Nelson, Tania Nezrick, Ruth Peterson, Mary Helen Polensky, Kathy Stelford

The meeting was called to order by President Nelson at 7 p.m. The presented agenda was affirmed with no additions. Nezrick moved and Stelford seconded a motion to approve the minutes as circulated. The motion passed.

James handed out the financial report for the first quarter. It was an excellent quarter. James affirmed the efficient work of Assistant Manager Stravers who has contributed greatly to the good sales by her skill in purchasing.

Sales were up 18% over the same quarter in 2005. The margins are strong. Hopefully there will be a cleaner inventory count with our new POS system. The gross profit is up and membership equity is up by 30%. The only areas over budget were rent and insurance because they have been shifted to a different payment schedule. This will even out in subsequent months. The cash on hand is a little down because 75% of the POS system has been paid.

There is a growing number of non-member shoppers. We have a full corps of workers with some on a waiting list. The number of paid members now is about the same as last year but there are more new members this year than last year.

Discussion ensued about the possibility for more membership equity payment as a means of raising money should we purchase a building. The suggestion was affirmed for discussion at a later time if it was needed.

The POS is being built now. It will need a separate power box, which will installed by a local electrician. James hopes for the system to be in place by July 1—there is a huge job ahead setting up the UPC codes on shelves and entering all the information needed into the new system. James feels very positive about the service and expertise the company is providing.

The insurance broker searched for and secured a signigicant price reduction for the Coop. The new provider will begin to carry us on May 25^th.

The local Red Cross is seeking a donation for a silent auction. The board agreed by consensus that Peggy should provide this for them.

A teacher’s institute will be held on August 4^th at the Syverson Dells Forest Preserve. DSC has been asked to provide one of the lunch options for those attending. The suggestion was made that we could work in conjunction with Sunny Day Bakery. The board agreed by consensus to respond favorable to the invitation if person power is available to staff the booth.

Jack Carpenter has had a hip replacement and has been unable to respond. However, he assured us that he would be in touch soon regarding the request to purchase the building.

The Women’s Health Symposium was a nice experience but attendance was relatively small. Several board members suggested that the marketing of the program could have been more extensive.

Polensky moved and Mueller seconded a motion to adjourn, which passed unanimously at 7:50pm.

Ruth Peterson, Secretery