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Board accepts Itasca Fest 2025 P&L and approves one-year extension with Lions Club, including $35,000 village contribution
Summary
Board accepted the Itasca Fest 2025 profit-and-loss statement (prepared by the Lions Club) and approved a one-year extension of the festival agreement with the Itasca Lions Club, including a guaranteed $35,000 village contribution for the event.
Trustee Powers presented the profit-and-loss statement for Itasca Fest 2025 prepared by the Itasca Lions Club and recommended acceptance. Staff and trustees noted the festival was successful overall but had two days of poor weather; the P&L showed a small residual amount that was discussed in the meeting (participants referenced approximately $389, though transcript numbers varied slightly during the exchange).
The board discussed the village’s historical costs in hosting the festival—staff said the village’s costs were about $70,000 this year (compared with about $88,000 in an earlier year), and the proposed extension to the Lions Club agreement would include a $35,000 guaranteed village contribution at the end of the event. Trustees asked about timing and flexibility for when the Lions would request the payment to cover down payments; staff said the Lions must submit a budget and staff would remit funds per the agreement.
After questions and clarification about timing and budget remittance, the board moved and seconded a motion to accept the 2025 P&L and to approve a one-year extension of the agreement with the Itasca Lions Club for the 2026 Itasca Fest including the $35,000 guidance; roll-call votes followed.
What’s next: Staff will administer the agreement extension and work with the Lions Club on budget submittals to remit the guaranteed contribution as needed.
