Honest
SLATE
Honest Weight Food Co-op’s Community Newsletter for Membership • Staff • Governance • Management Published monthly by the Communications Committee to promote transparency, report without bias, and sustain community.
June 2O21
Honest Weight Food Co-op • 100 Watervliet Avenue, Albany, NY 12206 • 518-482-2667
honestslate@honestweight.coop • https://www.honestweight.coop/
Voting Results from May’s Remote MemBership Meeting We were happy to have 140 Member-Owners join us at HWFC’s May 23 Remote Membership Meeting. Results were as follows: • Resolve that we adopt the proposed budget for July 1, 2021, to June 30, 2022. 119 valid ballots were cast by MemberOwners (MOs) present. 118 MOs approved the proposed budget. 1 MO rejected the proposed budget. The proposed budget for Fiscal Year 2022 was approved. Thank you to all who joined us and helped to make this meeting a success! —The Board of Directors Please note: data recorded from “nonconfidential” votes by phone or Survey Monkey were used only for May 2021’s voting/counting and will not be “data mined” or used for any other purpose.
Highlights Running any business is
challenging, and “rules are changing fast” nowadays; but CCO Rick Mausert, who is retiring this fall, stated that he believes his successor will be comfortable with this budget in place. Rick presented a thorough overview of Honest Weight’s financial picture in preparation for the Membership vote to approve next year’s (FY 2021–22) budget. Describing the now-approved budget as conservative, Rick presented an overall financial picture of the Fiscal Year ending June 30, 2021, recapped highlights from 2020–21, and along with CFO Erin Martin, shared perspective on HWFC’s long-term goals and probabilities.
honestslate@honestweight.coop
“Covid has made this an interesting year financially,” Rick said. “The budget reflects our best thinking.” MOs praised Rick’s presence and availability during his 5-year tenure as CCO. “Having management on the floor is nice,” said one participant. Erin offered perspective on our financial picture. Stressing that we want to remain conservative even after debts are paid down (many of which were incurred with the move to our new building 8 years ago), she advised all not to allow a lack of loans to “become a free-for-all. We want to remain fiscally responsible, build for the future, and still be thinking long-term.” Board President Janet Sorell acknowledged that the Board has discussed long term planning with both Rick and Erin. “It’s certainly on our radar. Covid threw a wrench in everything but we want to address it sooner rather than later,” she said. What’s happening now? Food Services is picking up • Café reopens June 7.
What’s new? • HWFC is now support-
)
ing public transit via ads to appear soon on local bus shelters •All kinds of Co-op “merch” are available for purchase at the front desk—including a T-shirt supporting Soul Fire Farm that “will be coveted throughout the building.”
Immediate plans • EnviroTokens pro-
gram ends Aug. 21, when we kick off a new version of community support with a rounding-up program at checkout (see “Up for Change” on page 3). • Marijuana is not part of the budget. • Maria College food service program will feature a soft opening in early August followed by a live opening at month’s end.
Comments on Maria College ranged from Rick’s appraisal as “a very low risk project that won’t drain our finances” to an MO’s idea that “students could [even] research the impact of good food! It will be a wonderful change.” Money allocated for this project is in the current budget; sales will not show up until next year’s budget.
Short-term goals also include continu-
ing to strengthen community connections in hopes of returning to previous engagement levels by early fall • expanding MO discount options (i.e., increasing coupon eligibility—not our savings percentage).
Long-term plans include seeing our
EBITDA* (*Earnings Before Interest, Taxes, Depreciation, and Amortization) decrease substantially, placing Honest Weight in a better financial place. See page 3 for more Meeting Highlights.
CONTENTS Book Group Notes ‘n Quotes..... 2 Come to the BBQ!..................... 3 Got Vegan Burgers?................... 4 Soil-grown vs. Hydroponics....... 5 Q&A............................................6 June Board Decisions..................7 Committee Corner......................8 Co-Opportunities....................... 8 https://www.honestweight.coop/