ACTION REQUESTED:
Title
Communication from the City Manager and Community Development Director for DIRECTION Related to the Unexpended Balance of Funds from the 2013 Regional Neighborhood Network Conference.
Body
BACKGROUND: Peoria hosted a very successful RNNC in 2013. The event was successful based on the attendance, courses offered, feedback from the attendees, and fundraising efforts.
The vast majority of the fundraising donations came from the outreach by Councilmen Turner and Spain. The financial balance was healthy enough that all costs were covered and a substantial balance remained in the RNNC account after the event concluded and all outstanding bills were paid.
After all bills were paid, the $8,000 in seed money was transferred to the 2014 host city and the $25,000 in seed money from the City and the Tourism Reserve Fund was repaid, there remained a balance of $32,255.80.
This balance was moved from an account at the Community Foundation to the City earlier in 2014. The agreement prior to the 2013 event was that any remaining funds be committed to future RNNC costs (travel and tuition for neighborhood attendees, etc.)
The question for the Council is not about what the funds should be used for, but where the funds should be held, and what level of control the City should have over the use of the funds. Following are two options for the Council to consider. The Council may choose either of these options, none of the options, or decide upon another course.
1. The funds remain in a City account and the City reimburses the annual costs related to neighborhood resident attendance at future RNNC events until all funds are exhausted.
* This option provides the City with control over the use and release of the funds. However, is also requires the City to track the fund usage and would make the funds part of the annual City fiscal audit.
* This option would require an agreement between the City and the Neighborhood Alliance that w...
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