PFC Board of Directors Meeting
Minutes for April 21, 2003

Attendance -
Board Members: John Austin, Linda Diane Feldt, Martin Piszczalski, Howard Shapiro, Duane Thomas, Laurie White; Carol Collins, PFC General Manager, Board member Absent: Arun Mathur, due to illness.
Anne Benedict, PFC HR Director facilitating.
Kathryn Sanderson, volunteer note taker, recording minutes.

Call to order - 7:34pm by Anne.

Agenda Review –
“Financial Treatment of BP Cash Inflows” postponed until May. (Michael Frost of Yeo & Yeo was not available).

Approval of Minutes -
Linda Diane moved approval of the March 17 minutes as amended, Howard supported, approved 6-0.  Duane moved that approved minutes of every Board meeting, edited for length and nonessential detail, be posted on the PFC web site, Linda Diane supported, approved 6-0.

Board Committee Proposal -
Five proposed to start with: Finance, Member Linkage, Board Development, Communication, GM Evaluation - for further discussion and decision at next meeting.

Election/Annual Meeting -
Duane moved ratification of the election results and the installation of Howard Shapiro and John Austin for new three-year terms; seconded by Laurie; approved by acclamation.  John moved to accept the amended draft minutes of the Annual Meeting as a true and accurate record of proceedings for approval by the Membership at the next meeting; seconded by Duane; approved by acclamation.

Election of Officers -
John moved the approval of the following slate: Linda Diane as President, Duane as Vice President, Howard as Treasurer, and John as Secretary; Laurie supported; approved 6-0.

Consumer Cooperative Management Association Convention, June 12-14, Lexington KY -
Howard stated that costs for attendance by all Directors would be within the Board budget.  Martin, Linda Diane, John, Laurie, Duane, and Howard intend to go.

L.4.9 Monitoring (review of first quarter financials) -
All Directors having reviewed the reports, John moved acceptance, Linda Diane supported, approved 6-0.

Next Meeting : Monday, May 19, 6:30pm at Menlo Innovations (212 N. 4th Ave).  Martin and Anne will be absent. Snack person: Laurie.

Attendance : Laurie moved the approval of Arun’s absence, seconded by John, approved by acclamation.

Adjournment :   9:35pm by acclamation.