PFC Board of Directors Meeting
Minutes for June 14, 2005 - Draft Version

Attendance
Board Members: Arun Mathur, President; Howard Shapiro, Vice President; Duane Thomas, Treasurer; John Austin, Secretary; Andrea Dunathan; Chad Hershock; Katie Wimsatt; Carol Collins, PFC General Manager.
Julie Sverid, PFC Human Resources Manager - facilitating meeting
Kathryn Sanderson, PFC Member-Owner volunteer, recording minutes

Call to order – 6:15PM by Julie

Agenda review – L.7 monitoring report (Consent Agenda), Calendars & Schedules, and CCMA Report postponed until July meeting. Time was allotted to review a management proposal to open a PFC account with the National Cooperative Bank.

Announcements – Signed Conflict of Interest Statement and Disclosure forms were received by the Secretary from Audit Committee members Rhonda McCammon and Matthew Graff and will be placed in the Board file. The joint Great Oak Cohousing/PFC picnic will be July 2.

Consent Agenda – Minutes of the 4/21/05 meeting; 2005 PFC Annual Meeting minutes; Board self-monitoring G.4 Officers’ Roles (Arun) and G.5 Board Committee Principles (Howard); GM monitoring reports L.2 Treatment of Staff, L.4.9 Current Ratio (including PFC first-quarter 2005 financial reports), L.5 Emergency GM Succession. All Directors having reviewed and understood these materials, the consent agenda was approved 6-0 with Katie abstaining.

Ends Policy Monitoring – After discussion and questions the Board assigned a team to review the monitoring report and make recommendations to the full Board. Andrea, Arun, Chad, Duane, and John will meet soon and distribute the results of their meeting. Discussion of the report will continue at the July meeting.

Committee Updates – The Development and Nominations Committees have not met. The GM Evaluation Committee will meet June 23. These committees will draft charters for Board approval. The Expansion Exploration Committee is making progress with coding survey data. The Audit Committee has met and minutes will be circulated. Exploration of a Member-Owner web log and an online Board workspace will continue - no committee assignment was made at this time.

PFC Expansion Exploration & information from CCMA – The Board agreed that possible expansion would be the topic of the Board retreat. Arun suggested a one-day retreat the weekend of September 10/11. Carol proposed a short night-before session for orientation, possibly September 9. The Development Committee will secure a facilitator and propose an agenda for the retreat.
Data-entry volunteers are doing an excellent job with coding for the surveys. They support the process of soliciting input from Member-Owners.

Bank account proposal (Carol) – After discussion, the Board authorized opening a PFC account with the National Cooperative Bank. The National Cooperative Bank is FDIC insured.

Next Meeting – Tuesday, July 12, 2005, 6:15PM at Menlo Innovations (212 N. 4th Ave).

Adjournment – By acclamation at 8:15.Respectfully submitted by John Austin, Board Secretary