by Anya Firszt, General Manager
Happy new fiscal year!
Our fiscal year runs July to June, so welcome to the new fiscal year.
Budgets
We start this new fiscal year with an operating and capital expenditure budget that the Board approved at their June Board meeting. The operations budget reflects the amount of sales we need to pay for anticipated expenses (primarily product costs and wages), as well as enough cash to pay our Owner Bonds and invest back into our stores through capital improvements.
Let me also give you a few highlights from last fiscal year. Sales were above budget, we made our first three-year bond repayment to Owners for the Willy North project; we successfully completed an expansion and remodel at Willy West; we hired a new HR Director and IT Director; we implemented a register receipt survey program; and we were awarded the Better Business Bureau Torch Award for Ethics. Come to the Annual Meeting to hear more about the last fiscal year and the year to come.
This year we celebrate our 45th year in business. Our growth in the last 20 years in particular has been extraordinary; sales are budgeted to be 15 times greater in this fiscal year than they were when we first relocated to 1221 Williamson Street in 1999. In that same amount of time, the number of employees is ten times greater, our Ownership is eight times greater, and the number of sites we operate is five times greater than in 1999.
As we become a bigger and more successful Co-op, we continue to make improvements to be economically sustainable. We need to find ways to balance greater efficiency with maximal flexibility, while at the same time maintaining our originals values. It is, as always, a work in progress.
NO 2019 Board of Director Election
In the July Reader, I would usually encourage you to review the Board candidate statements and cast a ballot for our Board of Directors. That said, it’s been decades since we had a contested Board election, and it has happened once again.
This year, we have three open seats and three candidates who met the criteria established by the Board of Directors, therefore it was decided not to hold an election as there is no legal obligation to do so and we can save significant time and money. The Board candidate statements are included in this issue of the Reader, and each candidate is still invited to address the Ownership at the upcoming Annual Meeting & Party, on Thursday, July 11. The candidates will be officially seated as part of the Special Membership meeting on Tuesday, July 16.
$5 Dinner
The $5 Dinner this month is scheduled for July 18 at Willy North from 4:00-8:00pm!
We are featuring La Tamaleria meat and vegetarian tamales (chicken or spinach) along with tortilla chips, slaw, and a cookie, which is also made without gluten! Our vegan option is enchilada pie, tortilla chips, slaw and a cookie. Something to satisfy everyone. Eat or carry out.
Special store hours in the coming few months
- Thursday, July 4, Independence Day: stores close at 7:30pm
- Thursday, July 11, Annual Meeting & Party: regular hours
- Saturday, August 17, annual staff picnic: stores close at 6:00pm
