Youth Hockey Monthly Board Meeting July 21, 2014 Present: Mike Johnston, Barb Timm, Heather Palumbo Agenda Item Updates / Comments / Notes Call to Order Meeting called to order at 7:01 p.m. Gambling Account 90,533.18 Beginning Cash Balance: $ Deposits for the past month include the following: $ 51,141.47 Closed games from 4 locations, meat raffle, bingo – and tri wheel $3.73 Interest Paid – Total Deposits: $51,145.20 Disbursements for the past month include the flowing: $6,819.05 Payroll/WF Payroll – $247.44 WF Payroll Invoice – $3,225.64 WF Payroll Tax – $12,110.00 MN Dept of Revenue – $3.50 WF Image Fee – $66.60 WF Cash deposited fee – $1,750.00– Cowboy Jacks Rent $1,750.00 Boondox Rent – $571.40 Distractions Rent – $424.00 Rockwoods Rent – $3,796.64– Pull Tabs Plus $1,500.00 Clifton Larson Tax Prepare – $192.37 Supplies and Postage – $192.28 Central Gaming – $712.58 Triple – $253 Cash CJax game loss – $639.00 Cash Bdox game loss – $1,680.00 Carefree storage new facility one year rent + one month – free. Expenditures: $46,970.87 Ending Cash Balance: $90,533.18 Gambling Director Reviewed activity in cash account Reviewed financial report by location Explained fiscal year with tax fees. Discussed looking into keeping Rockwoods location City of Otsego working on status and if we can allocate dollars for – specific or departments. through audit with the State. Working on Work Comp insurance issue with Wells Fargo Meeting with Wells Fargo to explore possibility of debit card for miscellaneous expenses. Purchasing a PC & Software the accountant uses will bring – expenses at next meeting for approval. Motion by Barb Timm/Second by Heather Palumbo to approve up to $40k (including payroll, games, operating expenses). Motion carried. Motion by Barb Timm/Second by Heather Palumbo to adjurn.
Youth Hockey Monthly Board Meeting July 21, 2014 Present: Mike Johnston, Barb Timm, Heather Palumbo Agenda Item Updates / Comments / Notes Call to Order Meeting called to order at 7:01 p.m. Gambling Account Beginning Cash Balance: $ 90,533.18 Deposits for the past month include the following: $ 51,141.47 – Closed games from 4 locations, meat raffle, bingo and tri wheel $3.73 – Interest Paid Total Deposits: $51,145.20 Disbursements for the past month include the flowing: $6,819.05 – Payroll/WF Payroll $247.44 – WF Payroll Invoice $3,225.64 – WF Payroll Tax $12,110.00 – MN Dept of Revenue $3.50 – WF Image Fee $66.60 – WF Cash deposited fee $1,750.00– Cowboy Jacks Rent $1,750.00 – Boondox Rent $571.40 – Distractions Rent $424.00 – Rockwoods Rent $3,796.64– Pull Tabs Plus $1,500.00 – Clifton Larson Tax Prepare $192.37 – Supplies and Postage $192.28 – Central Gaming $712.58 – Triple $253 – Cash CJax game loss $639.00 – Cash Bdox game loss $1,680.00 – Carefree storage new facility one year rent + one month free. Expenditures: $46,970.87 Ending Cash Balance: $90,533.18 Gambling Director Reviewed activity in cash account Reviewed financial report by location Explained fiscal year with tax fees. Discussed looking into keeping Rockwoods location City of Otsego – working on status and if we can allocate dollars for specific or departments. through audit with the State. Working on Work Comp insurance issue with Wells Fargo Meeting with Wells Fargo to explore possibility of debit card for miscellaneous expenses. Purchasing a PC & Software the accountant uses – will bring expenses at next meeting for approval. Motion by Barb Timm/Second by Heather Palumbo to approve up to $40k (including payroll, games, operating expenses). Motion carried. Motion by Barb Timm/Second by Heather Palumbo to adjurn.