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Personnel and Finance Committee <br /> September 24,2001 <br /> Page 2 <br /> Council Member Aranowski thanked Tom Skarbeck for all of his hard work during the budget <br /> process. <br /> Council Member Kelly then presented Bill NO. 01-78 would is a resolution of support for Project <br /> Future. Council Member Kelly noted that a similar resolution was adopted in the past. This <br /> resolution calls for a total of $ 550,000 over five (5) years at the rate of $110,000. Council <br /> Member Kelly noted that Project Future has helped generate over a billion dollars of investment in <br /> the community over its almost 20 years of existence. <br /> Dr. Varner suggested that since Project Future is a 501C3 not-for-profit corporation that perhaps <br /> their tax return should be filed with the City Clerk's Office annually. <br /> Council Member King noted that IRS Form 990 would be one possible form which is required of <br /> such corporations,and the monitoring would be proper. <br /> Council President Pfeifer noted that for accountability that it seems appropriate. <br /> Council Member Coleman noted that there are other ordinances which could measure the <br /> accountability, since the resolution has limited weight. <br /> It was suggested that an amendment to the Resolution in Section III be made to include at the end <br /> "and a submission of periodic accounting reports to the City Clerk by Project Future". <br /> Following discussion, Council Member White made a motion, seconded by Dr. Varner that Bill <br /> No. 01-78 be recommended favorably as proposed to be amended. The motion passed. <br /> There being no further business to come before the Committee, Council Member Aranowski <br /> adjourned the meeting at 4:37 p.m. <br /> Respectfully submitted, <br /> Council Member James Arnanowski, Chairperson <br /> Personnel and Finance Committee <br /> KCF:kmf <br /> Attachments <br />