Greenbelt Cooperator

Englander Urges Cautious Buying

The need for cautious buying by Greenbelt Consumer Services in the next few months to avoid being caught with high priced goods in a falling market was emphasized by Auditor Lou Englander in his report on his quarterly audit to the GCS board Friday night. Mr. Englander stated that GCS' financial position was eminently sound. Their balance sheet, he said, is one of the best in the East, and one of the best GCS has ever had.

Mr. Englander also stated that turnover was normal and margins, especially in the food stores, were good He stressed the importance of caution, especially in the purchase of food items. The general opinion in the food industry, he stated, is that the new pack of canned goods and certain other foods would come out with cheaper price tags soon. Any store which was overstocked on these items stood to lose money if they had many items left at the time the new stock came in.

He recommended that GCS, in line with other co-ops, change the date of the fiscal year from January to October when auditors are not so busy and can do a better job. It was his opinion that only semi-annual audits will be necessary in the future as a result of closer checks being kept by GCS itself, largely as a result of the work done by Bob Morrow, GCS office manager.

He also stated that GCS members will have to spend more on equipment or repairs in the coming year.
"No Donations"

A proposal that GCS reaffirm its former of "no donations" to local clubs or organizations resulted in considerable discussion at the board's last meeting. Robert Dove felt that such a policy would cut off all donations, no matter for what purpose, and would result in loss of goodwill to the cooperative. He also felt that GCS has a community responsibility, as the only business in Greenbelt.

It was pointed out that GCS has always given, as advertising, or for good-will, assistance to many local organizations, but has refrained from making any large contribution of cash to any. The donation of several prizes for the Youth Center drawing (among them a washing machine, radio and several other items), the provision of trophies for athletic events, and the practice of giving discounts on supplies for parties, etc., were cited as examples of GCS' contributions in the past.