FARGODOME Authority - January 29, 2019
A regular meeting of the Fargo Dome Authority was held on Tuesday, January 29, 2019 at 3:30 p.m. in the FARGODOME Conference Room with President Troy Goergen presiding.
Members present: President Troy Goergen, Blake Nelson, Dan Armbrust, David Suppes and Michael Ellingson.
Members absent: Darrell Vanyo and Nancy Jordheim.
Others present: Bernie Larson, Assistant General Manager - FARGODOME; Susan Thompson, Director of Finance – FARGODOME; Amanda Muellenbach, Administrative and Auxiliary Services Manager - FARGODOME and Rob Sobolik, General Manager – FARGODOME.
Media present: None
President Troy Goergen called the meeting to order at 3:38 p.m.
Michael Ellingson made a motion, seconded by David Suppes, to approve the agenda of the January 29, 2019 Fargo Dome Authority meeting as presented. Motion carried.
David Suppes made a motion, seconded by Blake Nelson, to approve the minutes from the December 10, 2018 Fargo Dome Authority meeting. Motion carried.
Rob Sobolik presented the General Manager’s report as follows:
Year-to-Date Net Income through November 2018 is stated at $468,793, which is a negative variance (to budget) of $100,840.
Year-to-Date Net Income through December 2018 is stated at $472,997, which is a positive variance (to budget) of $30,556.
Upon review, Blake Nelson made a motion, seconded by Michael Ellingson, to approve the November and December financial statements as presented. On call of the roll, Armbrust, Ellingson, Goergen, Nelson and Suppes voted aye. Absent and not voting: Jordheim and Vanyo. The motion was declared carried.
Past Events: Christmas Wonderland on December 20, 2018. Rumble on the Red Wrestling Tournament on December 28-29, 2018. Rumble on the Red Youth Wrestling Tournament on December 30, 2018. Fargo Marathon – Resolution Run 5k/10k on January 5, 2019. Fight the Frost on January 11-13, 2019. RRV Boat and Marine Show on January 25-27, 2019.
Upcoming Events: Monster Jam on February 1-2, 2019. NDSU Career Expo on February 5-7, 2019. Kiwanis Pancake Karnival on February 9, 2019. NDSU Soybean Council on February 12, 2019. ND State High School Wrestling Tournament on February 14-16, 2019. RRV Home and Garden Show on February 22-24, 2019.
Comments on Past Events: Nothing to report.
Blake Nelson presented the Fargo Dome Authority Building and Finance Committee report. The Fargo Dome Authority Building and Finance Committees met on Wednesday, January 23, 2019. Items discussed included:
November 2018 and December 2018 Financial Statements: The November 2018 and December 2018 Financial Statements were approved by the Finance Committee at the meeting on January 23, 2019.
Building Valuation: Susan noted that she requested information from Dawson Insurance regarding a valuation of the building to verify that we have sufficient property coverage. Dawson insurance provided options for a building valuation from Zurich and Marsh. The cost for the option from Zurich is $7,500 and the cost for the option from Marsh is $14,000-$17,000. A general discussion ensued. It was recommended that Dawson provide more information on the Marsh option, specifically, what information we are getting for the additional cost. Susan plans to visit with Ryan Hoffman from Dawson Insurance to get his feedback on the pros and cons for each option and report back to the committee at the February meeting. The committee noted that, along with the building valuation, they would like more information on the building’s flood exposure.
Building Upgrades: Rob stated that he continues to work with RL Engebretson on the building upgrades project, including costing options, updated drawings and phasing of the projects. This item will be discussed in further detail at upcoming meetings.
Blake Nelson made a motion to approve the Building and Finance Committee report as presented.
On call of the roll, Armbrust, Ellingson, Goergen, Nelson and Suppes voted aye. Absent and not voting: Jordheim and Vanyo. The motion was declared carried.
The next Fargo Dome Authority meeting will be on February 26, 2019 at 3:30 p.m.
There being no further business, the meeting was adjourned at 4:13 p.m.