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Chamber/CVB manager briefs council on finances; signature-card and accounting questions raised
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Summary
A chamber/CVB representative presented preliminary financial materials and said the board has not yet approved the report; councilors asked questions about signature-card access, accounting fees, payroll and separation of CVB and chamber funds.
A representative for the local chamber and convention & visitors bureau (CVB) appeared to deliver a preliminary financial report and told council members the chamber's board had not yet approved the materials.
The presenter said the chamber is working toward financial self-sufficiency through membership and event revenue and that the chamber is reorganizing banking and signature-card access so CVB-related revenue and payroll can be handled separately from chamber general funds. The presenter said three of four required signatories had been added and that the presenter was added to the bank signature card that day to deposit a CVB check; full completion of signature-card paperwork was still pending.
Council members asked about a reported $3,000 monthly accounting fee and who performs accounting and payroll functions. The presenter said an external firm (CNA) was handling accounts and payroll and that some questions about fees could be directed to the chamber board. The presenter said the CNA controlled checks and payroll while the chamber worked to separate CVB and chamber accounting.
Council members expressed appreciation for efforts to provide materials and asked for more complete documentation at a future joint meeting; the presenter said many questions could be better addressed at the joint meeting when board approval and additional documentation would be available.
Ending: The council heard the preliminary report, asked for a fuller joint meeting presentation and more complete paperwork on signature-card access and accounting arrangements; no formal council action was taken on the chamber report at this meeting.
