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05-23-11 Common Council Meeting Minutes
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05-23-11 Common Council Meeting Minutes
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REGULAR MEETING MAY 23, 2011 <br /> <br /> <br /> <br />Mr. Dennis Andres, Executive Director, Morris Performing Arts Center, 211 N. Michigan <br />Street, South Bend, Indiana, made the presentation for this bill. <br /> <br />Mr. Andres advised that this bill would allow for the appropriation of $3,100 within the <br />Morris Performing Arts Center and Palais Royale Market Fund #273. Revenues from <br />this fund are generated from the solicitation of funding for commercial promotion <br />sponsorships and Morris marquee sponsorships. Mr. Andres advised that pursuant to <br />Ordinance No. 9768-07, the Morris Performing Arts Center has solicited and secured the <br />necessary funding to cover the cost of manufacturing and printing 50,000 Morris Box <br />Office Ticket Envelopes. He stated that they are requesting the required funds be <br />released from Fund #273 for the purchase of said ticket envelopes. <br /> <br />This being the time heretofore set for the Public Hearing on the above bill, proponents <br />and opponents were given an opportunity to be heard. <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this bill. Councilmember Dieter made a motion for favorable <br />recommendation to full Council concerning this bill. Councilmember Oliver Davis <br />seconded the motion which carried by a voice vote of eight (8) ayes. <br /> <br />BILL NO. 26-11 PUBLIC HEARING ON A BILL OF THE <br /> COMMON COUNCIL OF THE CITY OF SOUTH <br /> BEND, INDIANA, CREATING A MORRIS <br /> PERFORMING ARTS CENTER/PALAIS <br /> ROYALE BALLROOM BOX OFFICE AGENCY <br /> FUND (#725) <br /> <br />Councilmember Puzzello, Chairperson, PARC Committee, reported that this committee <br />held a Public Hearing on this bill this afternoon and sends it to the full Council with a <br />favorable recommendation. <br /> <br />Mr. Dennis Andres, Executive Director, Morris Performing Arts Center, 211 N. Michigan <br />Street, South Bend, Indiana, made the presentation for this bill. <br /> <br />Mr. Andres advised that the Morris Performing Arts Center and Palais Royale Ballroom <br />collect certain revenue payments and deposits in advance of events at the facility. From <br />these receipts, certain event expenses are paid to promoters and other vendors. Upon <br />completion of the event, an event accounting settlement is prepared and the new revenue <br />or profit is realized by the City and transferred to the General Fund or other appropriate <br />City fund. During the recent audit of the City by the State Board of Accounts, it was <br />discussed with City Administration that it may be beneficial to set up a separate “agency” <br />fund to account for these transactions. An agency fund is a common governmental fund <br />type that is used to account for monies that are collected for and remitted to other entities <br />(i.e. payroll tax withholding). An agency fund does not record revenue and expenditures <br />and, thus, is not subject to annual appropriation. An agency fund records only cash and <br />liability transactions. Mr. Andres stated that it is in the best interest of the City of South <br />Bend to establish a Morris Performing Arts Center/Palais Royale Ballroom Box Office <br />Agency Fund 725. The new fund 725 will be a non-reverting fund and may earn interest <br />on outstanding cash balances which will be used to offset bank charges, with any <br />remaining amounts distributed to the General Fund or other appropriate City fund. Fund <br />#725 will not be subject to appropriation by the City of South Bend Common Council but <br />will be reported in the City Controller’s Cash Report, the City and Town Annual Report <br />and other similar accounting reports. <br /> <br />This being the time heretofore set for the Public Hearing on the above bill, proponents <br />and opponents were given an opportunity to be heard. <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this bill. Councilmember Dieter made a motion for favorable <br />recommendation to full Council concerning this bill. Councilmember Oliver Davis <br />seconded the motion which carried by a voice vote of eight (8) ayes. <br /> 8 <br /> <br />
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