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					Manly Food Co-op
November 2006 Newsletter Edition No. 19

Annual General Meeting
Members are encouraged to attend the 2006 Annual General Meeting of Manly Food Co-operative Ltd. The meeting will be held at 7:30pm, Wednesday 29 November 2006, 21B Whistler Street (Upstairs). Below, for your information, are the 2006 (unaudited) Financial Results.
Manly Food Co-operative Ltd Profit & Loss Statement For the 12 months ended 30 June

Agenda
1. Apologies 2. Confirmation of last AGM minutes 3. Financial report 4. Chairperson's report 5. Shop coordinators' reports 6. Election of directors 7. Other business

Truly Non-Profit!
The Co-op made a net loss of $9,341 for the last financial year – a significant decline from the $1,768 profit of the previous year. There are two main reasons for our loss. Firstly, sales have dropped by over $20,000 … for the second year in a row! Secondly, our rent and wages bill is rising but we are not increasing our prices (nor our sales volume) sufficiently to cover the higher costs. The Co-op cannot survive with declining sales, low prices, and increasing costs. It is unsustainable for us to continue suffering losses of the size we recorded last year. We need existing members to do their weekly shopping at the Co-op, and we need members of the wider community to begin shopping at the Co-op, where they can appreciate the health and environmental benefits of organic, waste-free shopping. The Board is currently considering what to do about these issues.

2005 Income: Sales Miscellaneous Income Total Income Total Cost of Sales Gross Profit Expenses: Audit Fees Stamo Duty Bank Charges Credit Card Facility Depreciation Office Supplies Insurance Subscriptions Total General & Administrative Exp Council charges Electricity and Gas Printing Rent Repairs Store Supplies Telephone Total Operating Expenses Superannuation Wages & Salaries Workers' Compensation Total Employment Expenses Total Expenses Operating Profit / (Loss) Other Income: Interest Income Net Profit / (Loss) Net Profit / (Loss) ex Misc. Income 241,288 0 241,288 159,795 66.2% 81,492

2006 219,074 8,355 227,429 143,653 65.6% 83,776

Variance -22,213 8,355 -13,858 -16,142 2,284

% -9% -6% -10% 3%

750 0 413 382 1,875 0 2,309 0 5,729 368 1,760 66 25,997 719 240 961 30,112 3,644 39,302 2,054 45,000 80,840 652

750 357 405 691 1,842 23 2,077 189 6,334 198 2,034 688 28,167 553 0 974 32,614 3,628 40,787 2,480 46,895 85,843 (2,067)

0 357 -8 309 -33 23 -232 189 605 -170 274 622 2,170 -167 -240 13 2,502 -17 1,486 426 1,896 5,003 -2,719

0% -2% 81% -2% -10% 11% -46% 16% 944% 8% -23% -100% 1% 8% 0% 4% 21% 4% 6% 417% -3% 156% -628%

Volunteer Review
The Co-op is currently reviewing its membership structure and associated volunteer arrangements. This is a sensitive issue for the Co-op, which survives thanks to the effort of volunteers as much as paid staff.

Positions Vacant
There will be a number of vacant Director positions at this year's AGM. Please consider nominating – it's a great way to become involved with the management and direction of the Co-op.

1,116 1,768 1,768

1,081 (986) (9,341)

-35 -2,754 -11,109

Shop Times
Mon–Sat 10am — 6pm

Manly Food Co-op • non profit community shop • 21b Whistler Street • Manly NSW 2095 • 9977 0177 • www.manlyfoodcoop.org

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Manly Food Co-op Newsletter

Time Banks Manly
The importance of volunteers is recognised by a new Manly-based non-profit organisation called Time Banks. Time Banks facilitates the exchange of skills between individuals, without monetary exchange. The ‘currency’ for everyone is simply an hour of time. The Co-op and Time Banks have reached a partnership agreement whereby Co-op members can join and participate in Time Banks and visa-versa. For more information call Manly Time Banks’ volunteer co-ordinator, Alf, on 9977 1667 or 9977 7744 (answering machine). See also: www.timebanksaustralia.com.au

What is a Co-op?
A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. – is the way the International Co-operative Alliance (ICA) defines it. ICA goes on to say, in its ‘Statement on the Co-operative Identity’: Co-operatives are based on the values of selfhelp, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others.

purposes: developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership. 4. Autonomy & Independance Co-operatives are autonomous, self-help organisations controlled by their members. If they enter into agreements with other organisations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy. 5. Education, Training & Information Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They inform the general public - particularly young people and opinion leaders - about the nature and benefits of cooperation. 6. Co-operation among Co-operatives Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional and international structures. 7. Concern for Community Co-operatives work for the sustainable development of their communities through policies approved by their members. For more information about co-operatives see: ICA website: www.ica.coop New Internationalist: #368 June 2004 www.newint.org

Forget the Car …..
If you’ve seen An Inconvenient Truth and heard the frightening predicted consequences of climate change, you will by now be wanting to reduce your car use – especially given the increasing scarcity and price of fuel. Thankfully, Manly Council is making it easier for you to get around without a car. The Hop, Skip & Jump free community bus service (affectionately known as Freebie) is proving a great success. It’s now easy to catch the Hop Skip Jump bus from Fairlight, Balgowlah, or Seaforth and do your Co-op shopping in Manly without a car. www.manly.nsw.gov.au/Hop-Skip-JumpBus.html

Principles
The co-operative principles are guidelines by which co-operatives put their values into practice. 1. Voluntary & Open Membership Co-operatives are voluntary organisations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination. 2. Democratic Member Control Co-operatives are democratic organisations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary co-operatives members have equal voting rights (one member, one vote) and co-operatives at other levels are also organised in a democratic manner. 3. Member Economic Participation Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following

So if you want to do something about global warming … 1. Leave your car at home – ride your bike or catch the Hop Skip Jump bus, and Shop at the Co-op.

2.

Manly Food Co-op Newsletter
21b Whistler Street Manly NSW 2095 Ph: 02 9977 0177

POSTAGE PAID Manly NSW 2095 Australia

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Receive Co-op news electronically. Leave your details at the Co-op, or e-mail them to: gargoyle@geko.net.au


				
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