Rainbow Board Meeting Minutes

June 19, 2007

Attendees: Luke Lundemo, Barbara Scobee, Ann Herlihy, Irene Jones, Leo Huddleston, Joy Adams, Michael Goggans and non-members Steve Whitlow, Bruce Fraiser, Charlotte Lundemo, Doc Mendel, Patty Magee, Amy Breckenridge and Daniel Johnson.

A quorum was present.

The meeting was called to order at 5:33 pm.

Ann Herlihy agreed to fill in as a temporary secretary and to record the minutes of the meeting.

The ballots from the Annual Members Meeting were presented for certification. A motion was made and seconded to certify the election. The motion was passed by consensus.

Members Input: Doc Mendel requested time to speak to the board concerning various issues with his employment at Rainbow. Doc was given the allotted time to present his information to the board.

Approval of Minutes: The minutes from the May Board Meeting and the Annual Member’s Meeting were approved as is.

Manager’s Report: Steve Whitlow reviewed the monthly reports and indicated that the average daily totals for Monday through Saturday were up for the fourth month in a row. He stated that the average daily total was approximately $10,800. He also reported at that membership is up to more than 2,900 active members. He stated that the membership has just about doubled over the past two years. May had some problems in that Rainbow lost power and had to close one day at 5:00 pm. The next business day the computers that run the cashier stations were not working and Rainbow was unable to open that day. So Rainbow lost more than one day of revenue. He also discussed the increase in payroll for the month of May. This was attributed to a large number of new hires for this month. Steve also discussed the purchase of a new air conditioner for the kitchen and the new parking policy for Rainbow employees.

Financial Report: Barbara Scobee presented the financial report. She reviewed the various reports including a cash flow chart and projected budget. She has requested that the board members develop questions about the new budget for the next meeting and that we approve a new budget at the August meeting. Barbara also brought up the issue of the lease on the building. Steve is to contact the owners and explore options for lease renewal.

Old Business: Luke discussed the Annual Member’s Meeting. We discussed what worked and what didn’t. Barbara brought up that she felt that Rainbow should not be closed for that entire Sunday. This is to be considered for the next annual member’s meeting. Also will try to have a date planned far in advance to insure a larger attendance. Luke stated that this year there were more members at the meeting. He also stated that the length of presentations by the potential board members should be short and the presentations concise.

Luke stated that we would be electing a new President, Vice President, Secretary and Treasurer at the next board meeting. He presented duties for these positions to be considered.

He also discussed potential committees and what their functions would be.

In a survey of board members, financial reports, legal responsibility of board, vision and mission statement, defining board roles and conflict resolution were some of the topics that received the most interest.

Board Resolution for Trustmark National Bank. Rainbow Whole Foods, Inc. doing business as Rainbow Natural Grocery, has in a previous board resolution selected Trustmark National Bank as our corporate bank in which we currently hold banking accounts.

The Board of Directors of Rainbow Whole Foods, Inc. hereby, approves the change in signatory cards so that our manager, Steven T. Whitlow, and our assistant manager Beth G. Ramsey, become the only authorized signatories to the following corporate checking accounts:

Account # 100028517

Account # 100028498

Annual retreat: board members are to look at their calendars and submit to Luke dates they would be available for this retreat. Luke stated that it would be on a Saturday and last approximately 5 hours.

Luke discussed Rainbow Calendar, Board Assistant, and the Rainbow Energy Audit. We also discussed the Rainbow Guide and the new internet provider.

Meeting was adjourned at 7:45 pm.

Minutes submitted by Ann Herlihy