pages: CityCouncil/2007-11-20.pdf, 2
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CityCouncil | 2007-11-20 | 2 | the Business Plan is a two-year, forward looking document i the Museum has a lot of money in the bank; hopefully, dipping into reserves will not be necessary; funds were down to approximately $2,000 in 1991 and 1992. Mayor Johnson stated people need to understand that money is needed to run a Museum; inquired whether the Museum has any plans to become accredited, to which Ms. Dileo responded in the negative. Vice Mayor Tam stated that she appreciates receiving the Business Plan; Page 20 outlines a series of activities to help generate additional funds; inquired which area would have the largest growth. Ms. Dileo responded estate sales; stated estate sales are being promoted; a big money maker is the Legacy Home Tour, which also showcases Alameda. Vice Mayor Tam stated Page 22 notes that funds have been set aside to obtain a permanent home; she has trouble understanding the line item referring to funds reserved for finding a permanent home. Ms. Dileo stated the $194,480 Edward Jones Endowment account cannot be touched and is strictly set aside for building. Vice Mayor Tam inquired whether said Endowment is stipulated for a specific use. Ms. Dileo responded the Endowment was stipulated for a specific use; stated most of the money was from the Regina Stafford Estate. Vice Mayor Tam stated the Meyers House is open for three hours one Saturday per month; inquired whether the Meyers House is reflected in the expense report. Ms. Dileo responded the Meyers House is reflected in the net figures on Page 41; stated the Meyers House has a separate income statement and balance sheet; income and expenses are equal to date; the Meyers House had significant damage due to a leaky roof; the interior ceiling was damaged window sills needed to be repaired she does not have repair costs yet. Vice Mayor Tam inquired whether statements reflect the City's operation and maintenance costs. Ms. Dileo responded in the negative; stated there was supposed to be a five percent tithing to the City every year, which was expected to be approximately $60,000 to $70,000; the assets were Regular Meeting Alameda City Council 2 November 20, 2007 | CityCouncil/2007-11-20.pdf |