FARGODOME Authority - September 27, 2022, Minutes
A regular meeting of the Fargo Dome Authority was held on Tuesday, September 27, 2022 at 3:30 p.m. in the FARGODOME Conference Room with President Michael Ellingson presiding.
Members present: President Michael Ellingson, Blake Nelson, David Suppes, Dan Armbrust, Nancy Jordheim (via phone), Troy Goergen and Rick Steen.
Members absent:
Others present: Peter Monsrud – City of Fargo; Zach Prante, Accounting Analyst –FARGODOME; Bernie Larson, Assistant General Manager – FARGODOME; Sarah Dykema, Director of Sales and Marketing – 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 Michael Ellingson called the meeting to order at 3:30 p.m.
David Suppes made a motion, seconded by Troy Goergen, to approve the agenda of the September 27, 2022 Fargo Dome Authority meeting as presented. Motion carried.
Dan Armbrust made a motion, seconded by Rick Steen, to approve the minutes from the August 30, 2022 Fargo Dome Authority meeting. Motion carried.
Rob Sobolik presented the General Manager’s report as follows:
• Year-to-Date Net Income through August 2022 is stated at -$50,979 which is a negative variance (to budget) of $160,083.
• Upon review, David Suppes made a motion, seconded by Rick Steen, to approve the August 2022 financial statements as presented.
On call of the roll, Armbrust, Ellingson, Goergen, Jordheim, Nelson, Steen and Suppes voted aye.
Absent and not voting:
The motion was declared carried.
• Past and Upcoming Events: NDSU Football vs. Drake on September 3, 2022. NDSU Football vs. North Carolina A&T on September 10, 2022. NDSU Engineering & Tech Expo on September 21, 2022. Greta Van Fleet on September 23, 2022. NDSU Football vs. Youngstown State on October 1, 2022. Youth Football on October 2, 2022. FM Athletics Youth Football on October 9, 2022. NDSU Football vs. South Dakota State University on October 15, 2022. FM Athletics Youth Football on October 16, 2022. The Big One Art & Craft Fair on October 21-22, 2022.
David Suppes presented the Fargo Dome Authority Building and Finance Committee report. The Fargo Dome Authority Building and Finance Committees met on Wednesday, September 21, 2022. Items discussed included:
• August 2022 Financial Statements: The August 2022 Financial Statements were approved by the Finance Committee at the meeting on September 21, 2022.
• Project Updates:
o Trench Drain Project – Rob noted that this project is complete.
o Service Valve Installation – Bid Review: Rob provided an overview of the project. All of the glycol and water loops that run through the building are connected by piping that all runs together. If something goes wrong with one part of the pipe and/or system, the entire pipe needs to be drained. This project would install shut-off valves to the pipe system. FARGODOME received three bids for this project: Peterson Mechanical at $70,400, Midwest Iron Works at $83,800 and Wrigley Mechanical at $143,000. This project is currently schedule in the capital budget for $80,000.
The Building and Finance Committees each approved a motion to accept the bid from Peterson Mechanical at $70,400.
• Escrow Balance & Performance Reports: The FARGODOME permanent fund performance, year-to-date, through June 2022 is -12.50%. Please see attachments.
David Suppes made a motion to approve the Building and Finance Committee report as presented.
On call of the roll, Armbrust, Ellingson, Goergen, Jordheim, Nelson, Steen and Suppes voted aye.
Absent and not voting:
The motion was declared carried.
The next Fargo Dome Authority meeting will be on October 25, 2022 at 3:30 p.m.
There being no further business, the meeting was adjourned at 3:50 p.m.