CVB approves April claims and discusses Horizon Trust, moves $10,000 from youth sports to sponsorships

At its May 26 meeting the LaPorte County Convention & Visitors Bureau reviewed the treasurer/claims packet for April and approved the claims and payroll as presented.

Staff read the headline financial numbers: total accounts payable and payroll were presented and the grand total for the period was announced. The board was asked to note three cash accounts — the Horizon checking account (primary operating account), the Horizon Public Fund (stabilizer/grant account) and the Horizon Trust (an interest-bearing account the board set aside to earn returns). Staff said the Horizon Trust is sizable and recommended the finance committee review interest and investment performance quarterly.

Members asked whether interest earned should appear as a separate line item on monthly statements. Staff said interest typically posts to the balance sheet at year-end under audit but agreed to include interest-earned reporting monthly or annually in Gail's cash report so the board can track returns.

Separately, staff and board members described a $10,000 reallocation: a dormant youth-sports line was closed and the $10,000 moved into special-events/sponsorships to fund partnerships and programming. Staff said the reallocation was within approval limits and intended to deploy funds that would otherwise go unspent.

The board approved the financial reports and the related motions on the floor.