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CONTRACT NO. K-1415-27: A CONTRACT BY AND BETWEEN THE CITY OF NORMAN, OKLAHOMA, AND THE PERFORMING ARTS STUDIO IN THE AMOUNT OF $3,500 TO PROVIDE HOSPITALITY SERVICES TO THE GENERAL PUBLIC VISITING THE SANTA FE TRAIN DEPOT.
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BACKGROUND: On February 19, 2014, the City Council Finance Committee reviewed annual reports from all of the agencies who receive annual funding from the City of Norman, and considered a request from the Performing Arts Studio for an additional $500 per year. During the budgeting process for FYE 2015, a number of requests were specifically reviewed, discussed and approved by Council. Pursuant to those discussions, funding agreements were prepared and submitted to the various agencies for their execution. The Performing Arts Studio received $3,000 last year and requesting an additional $500 for operational expenses. Their funding agreement is now submitted to Council for their approval.
DISCUSSION: The agreement which comes before Council at this time is the same basic form agreement for all agencies. The agreement provides that The Performing Arts Studio will provide hospitality services at the Santa Fe Depot in exchange for a grant of $3,500 of City funds. The agreement includes a reporting procedure by the agency to the Council of expenditures of the funds in an amount not to exceed $3,500. The agreement also provides for cancellation by either party and specifically provides for cancellation and return of any unexpended funds should the agency fail to use the funds for the purpose for which they are intended or should the agency be dissolved or cease to exist any time during the contract period.
RECOMMENDATION: Based upon the above and foregoing background and discussion, it is staff’s recommendation that the funding agreement submitted herewith be approved. Funds should be disbursed from the following account to accomplish this: $3,500 from City Council-Contributions and Organizations (account 010-1001-411.47-41).