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Committee reviews finances; staff reports $93,550 available and summarizes recent event awards
Summary
Staff presented financials showing an available balance of $93,550 after increased revenue to $150,000; the committee reviewed evaluation forms and awards for several events, including $5,000 for the state amateur baseball tournament and smaller awards to other tournaments.
A staff member presented the committee’s financial packet labeled 'SCA financials as of 07/29/2024,' reporting that revenue was increased to $150,000 following a prior board recommendation and that award checks written totaled $56,450, leaving a current available fund balance of $93,550.
Staff walked the committee through monthly collections (May records reported at $29,008.28; June records reported at $31,240) and a year‑to‑date collection total through July reported as approximately $146,283, which the staff tied to about 75,556 room nights sold; staff noted two establishments had not yet submitted collections and estimated those outstanding submissions could add $4,000–$5,000 to the totals.
Committee members asked whether unused funds remain available in the fund for the following year. Staff responded that unspent funds generally remain in the same fund and that any reallocation or supplemental appropriation in future years would require action by the governing board.
Staff also summarized evaluation forms and award outcomes for recent events: Cabin Fever Auction (award $1,500; net income reported $12,847.21), SD US Bowling Congress open tournament (award $3,000; no net income/loss reported), DW spring golf invite (award $1,500), Harvard Sport Shop soccer classic (award $2,500; profit reported $7,609.42), and noted that the South Dakota State Amateur Baseball tournament received $5,000 toward its operations through Aug. 18.
The committee discussed upcoming events and small new entries such as a 'challenge volleyball' event at the Corn Palace Armory. Following the presentation and questions, the committee entered executive session to consider funding requests.
