B. FINANCE & GOVERNANCE FOR START-UPS
SESSION I: FINANCIAL MANAGEMENT FOR START-UP CO-OPS
Audience: This workshop is especially suited for new co-op general managers, boards of directors and accountants who are just learning the unique financial attributes of cooperative businesses.
Content: Presenters will cover the importance of tracking owner use of a cooperative business (such as tracking grocery purchases) as critical to calculating owner patronage at the end of a profitable year. Attendees will learn the difference between qualified and unqualified allocations and how to manage reserve funds that are retained, rather than paid out in owner patronage, to maintain working capital. Capitalizing growth through use of member loans, bonds and preferred stock also will be covered.
George Haynes, MSU Agricultural Economics and Economics Department
Consultant Margaret Lund, Co-opera Co.
SESSION II: GOVERNANCE AND HIRING GUIDANCE FOR YOUNG CO-OPS
Audience: This workshop is especially suited for those serving on a brand new co-op board or any director recently elected or appointed who needs basic co-op governance training. Board members who are hiring their first co-op general manager also may find this session to be helpful.
Content: Presenters will discuss the basic responsibilities of an elected co-op director – acting both individually and collectively on a governing board. The distinction will be made between policy governance and having a working board (operating essentially without staff). The session will conclude with walking through a general manager hiring process, from developing the initial job description to assuring adequate training for the new hire.
Cost: $15.00. All those attending should bring copies of their co-op bylaws for discussion purposes.
Janice Brown, Executive Director, Montana Cooperative Development Center
Marilyn Besich, Program Director, Montana Cooperative Development Center