Minutes
Alaska State Fair Board of Directors
Meeting Held on the Fairgrounds
March 10, 2011
Consent Agenda
Bonnie Quill Appreciation
1. Call to Order: President Harkey called meeting to order at 7:51 pm. (meeting late start due to board getting fingerprinted for ABC).
Roll Call: Harkey, Kenley, Cimino, Bush, Erickson, Consenstein; present. Tracy absent.
2. Hearing no objection, President Harkey approved the Consent Agenda, Feb 10 Minutes, and Feb 22, 2011 Ad Hoc Scholarship Committee Minutes
Reports and Information Items
1. Finance Report – Treasurer Erickson reported balance sheet of reflected total current assets of $1,691,741.08, total fixed assets of $4,036,485.29, with total assets amounting to $5,728,228.37 and total current liabilities of $36,402.34, total long term liabilities of $0.00, total equity of $5,691,824.03 with liabilities and equity totaling $5,728,228.37. He reported total income of $137,114.34 and total expenses of $130,027.63 for February, resulting in a total net income of $7,086.71 at 2/28/2011.
2. General Manager’s Report – Ritari relayed information regarding Bill Allen’s work on grants and legislative funding for approximately two million dollars for Sheldon reroof, bleachers, Rebarchek Demonstration Farm, and request for change to our Alcoholic Beverage License to allow more than five permits annually. He reported Golden Wheel to add two new rides and are considering other attractions which shows their commitment to expansion of the carnival midway to the benefit of fairgoers and makes them a good partner. Additionally, a private non-profit has expressed interest in having an event showing support for our No Smoking Policy and the State Fire Marshal’s office has given deadline of 2012 to get all food booths up to code.
4. Cogen Plant Update – Ritari said Alpine Energy has financing commitment, have submitted a an engineering study to MEA to develop a price structure for power sales, and a gas supplier is developing a new gas well on the Kenai to supply the plant with natural gas. Also, Alpine is continuing to work with the City of Palmer on their District Energy System and signing up thermal hosts.
5. Scholarship Committee Report – Chair Cimino explained criteria, rubric, and application process of Alaska State Fair Scholarship. Emphasis on development was to include all levels and all of state for participation.
6. Board Retreat Wednesday March 30, 9 am. Main purpose to update Board Policy Manual, representative from Foraker Group to be there to assist with Governance issues.
Action Items
1. Board Personal Contribution for Sewer System Grant Application.
Discussion only, no action taken regarding Directors contribution to Alaska State Fair, Inc. to help solicit matching funds/contributions from grantors.
2. Approval of $200 Sewer Hookup Fee to Vendors for Grant Application
Approval given to Ritari to request a $200 fee per year from log booth vendors.
President Harkey convened meeting at 9:05 pm.