Fargo Dome Authority - March 1, 2022 Minutes
A regular meeting of the Fargo Dome Authority was held on Tuesday, March 1, 2022 at 3:30 p.m. in the FARGODOME Conference Room with Troy Goergen presiding.
Members present: Michael Ellingson, Nancy Jordheim (via phone), Troy Goergen and Rick Steen (via phone).
Members absent: Blake Nelson, David Suppes and Dan Armbrust.
Others present: Ryan Green – City of Fargo; Sarah Dykema, Director of Sales and Marketing – FARGODOME; Amanda Muellenbach, Administrative and Auxiliary Services Manager – FARGODOME; Susan Thompson, Director of Finance – FARGODOME; Bernie Larson, Assistant General Manager – FARGODOME and Rob Sobolik, General Manager – FARGODOME.
Media present: None.
Troy Goergen called the meeting to order at 3:36 p.m.
Mike Ellingson made a motion, seconded by Nancy Jordheim, to approve the agenda of the March 1, 2022 Fargo Dome Authority meeting as presented. Motion carried.
Nancy Jordheim made a motion, seconded by Mike Ellingson, to approve the minutes from the January 25, 2022 Fargo Dome Authority meeting. Motion carried.
Rob Sobolik presented the General Manager’s report as follows:
• Year-to-Date Net Income through January 2022 is state at -$193,716 which is a negative variance (to budget) of $27,185.
• Upon review, Mike Ellingson made a motion, seconded by Rick Steen, to approve the January 2022 financial statements as presented.
On call of the roll, Ellingson, Goergen, Jordheim and Steen voted aye.
Absent and not voting: Armbrust, Nelson and Suppes.
The motion was declared carried.
• Past and Upcoming Events: RRV Boat & Marine Show was held January 28-30, 2022. Monster Jam was held February 5, 2022. NDSU Career Expo was held February 9, 2022. Disc Golf Event was held February 12, 2022. ND State HS Wrestling Tournament was held February 17-19, 2022. ND Corn and Soybean Expo was held February 21, 2022. RRV Home & Garden Show was held February 25-27, 2022. RRV Sportsmen’s Show will be held March 3-6, 2022. TobyMac will be held March 11, 2022. Slipknot will be held March 16, 2022. Elton John will be held March 19, 2022. PRCA Rodeos will be held March 25-26, 2022.
Mike Ellingson presented the Fargo Dome Authority Building and Finance Committee report. The Fargo Dome Authority Building and Finance Committees met on Wednesday, February 23, 2022. Items discussed included:
• 2021 Audit Presentation: Jamie Fay from Eide Bailly reported to the committees on the 2021 Audited Financial Statements. Please see attached report.
The Finance Committee accepted a motion to approve the 2021 Audit as presented.
• January 2022 Financial Statements: The January 2022 Financial Statements were approved by the Finance Committee at the meeting on February 23, 2022.
• Project and Capital Budget Updates:
• Capital Budget Reallocation Request for additional funding for Fire Alarm System Replacement Project – The Committees were provided an overview of the history and progress of the project. Additional dollars are needed to fully fund and finish the project. Please see attachment. Susan brought forward a request to re-allocate up to $60,000 from FD-2018 – Catering/Dressing Rooms Remodel project to FD-2003 – Fire Alarm System Replacement and approve the updated budget of $320,470.
The Building and Finance Committees each accepted a motion to approve the reallocation request as stated above.
• Escrow Balance & Performance Reports: The FARGODOME permanent fund performance, year-to-date, through December 2021 is 3.60%. Please see attachments.
Mike Ellingson made a motion to approve the Building and Finance Committee report as presented.
On call of the roll, Ellingson, Goergen, Jordheim and Steen voted aye.
Absent and not voting: Armbrust, Nelson and Suppes.
The motion was declared carried.
The next Fargo Dome Authority meeting will be on March 29, 2022 at 3:30 p.m.
There being no further business, the meeting was adjourned at 3:50 p.m.