HomeMy WebLinkAboutR-88-05163-88=540
05/25/88
RESOLUTION NO. 91 8-5111
A RESOLUTION ACCENTING THE FINANCIAL REPORT
AND APPROVING THE PROPOSED EXPENDITURE OF
PROFITS SUBMITTED BY THE FLORIDA
INTERAMERICAN SCHOLARSHIP FOUNDATION IN
CONNECTION WITH THE CITY'S $6,000 GRANT IN
SUPPORT OF THE JIMMY BUFFET BENEFIT CONCERT
HELD AT THE MARINE STADIUM ON NOVEM13ER 29,
1987.
WHEREAS, on June 11, 1987, the City Commission adopted
Resolution No. 87-572 stipulating that recipients of City funds
supporting fund raising events should obtain City Commission
approval in connection with the expenditure of gross proceeds or
profits realized from such fund-raising event and
WHEREAS, in compliance with the stipulations of Resolution
No. 87-572, the Florida InterAmerican Scholarship Foundation has
submitted their financial statement for approval by the City
Commission in connection with the City's $6,000 allocation to
cover the rental cost of the Marine Stadium for the Jimmy Buffet
Benefit Concert held November 29, 1987;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The financial statement and proposed expenditure
of profits submitted by the Florida InterAmerican Scholarship
Foundation in connection with the City's $6,000 grant in support
CITY COMMISSION
MEETING OF
JUN 9 1988
RESOLUTION No. S13-516
REMARKS:
of the Jimmy buffet benefit concert held at the Marine Stadium on
November 29, 1987 is hereby accepted and approved.
PASSED AND ADOPTED this ,_1__91thclay of
_/ �
C7�, -
VIER L. SUAREZ,,
ATTE
*04-0z��-
MATTYTHIRAI
CITY CLERK
PREPARED AND APPROVED BY:
ROBERT F. CLARK
CHIEF DEPUTY CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
JORGI L. FERN
CITY ATTORNEY
R8--516
4
CITY OPMIAMI, F<.OIZIbA 7
INT914.OFF= MIMORANDUM
ro The Honorable Mayor and
Members of the City Commission
i
FROM Cesar H. Odio I -
City Manager v,-
RECOMMENDATION:
D4'fE. �, y1� � k'ilE
SUBJECT Florida tnterhmerican
Scholarship Foundation
REFERENCES! Commission Agenda item
June 9, 1988
ENCLOSURES.
It is recommended that the City Commission review and approve, if
appropriate, the attached financial report submitted by Florida
InterAmerican Scholarship Foundation in connection with the Jimmy
Buffet benefit concert held at the Marine Stadium on November 29,
1987.
BACKGROUND:
The Department of Community Development has prepared the appropriate
legislation in connection with the Florida InterAmerican Scholarship
Foundation submittal of the require3 documentation to comply with the
requirement of Resolution No. 87-572, adopted by the City Commission
on June 11, 1987.
The above referenced resolution addresses the issue of City support
for fund-raising activities. Said resolution stipulated that "if
City funds are to be used in support of a fund-raising event or
program, the prospective recipient of the grant should agree that
there be no expenditure of the gross proceeds or profits from such
fund-raising without the prior approval of the City Commission".
The City of Miami allocated $6,000 to
Stadium for the Jimmy Buffet benefit
29, 1987 by the. Florida InterAmerican
organization has submitted a financial
City Commission.
Attachment: (1) Resolution
cover the rental of the Marine
concert conducted on November
Scholarship Foundation. This
statement for approval by the
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March 18, 1988
Ms. rzpe Avalos
City of Miami
Depa,r tmrn f or Conttlln i ty Dove l otmrn t
1145 N.W. 111A Street
Miamir Florida 33136.
Dear Ms. Avalos:
The attached financial statement is submitted pursuant to
the agreement between the Florida InterAmerican
Scholarship Foundation and the City of Miami- l'ot the
November 29, 1987 benefit concert by Jimmy Buffett at
Miami's Marine Stadium.
Please contact me if yoti have any questions on the
material or if you require additional information.
Thank you.
Sincerely,
Jeff. Sharkey
Cxecutive Director
lm
NO
88-.51.0
1 ltwida InterAmrriein Scholar:6111.p Poundation
hinkncial StAt-e-mrnt
"C.ritxc Musimlo" anti ' vt:riing of the American"
The total net ravenues from the combined .fundraising
events have been deposited into the Florida Uttin American
and Caribbean Basin Scholarship 'Trust Fund for
scholarships which will be distributed and administered
by the State of Florida.
New scholarship awards cif 2-4 years each will be made
during the 1988-89 academic year to students .from the
following cotirntries:
Anti&nra 1. scholarship
Belize 2 scholarships
arazi l 3 scholarships
Grenada 2 scholarships
These awards will be sponsored in part by monies raised at
the combined Miami events, and it is anticipated that.
several of the students will pursue their studies in Miami
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Financial Statement
CARIBE MUSICALE and EVENING OF 111E AMFAICAS
November 29, 1987
A benefit concert by Jimmy ilurrett and the Desperadoes
Miami Marine Stadium
A gala Caribbean evening reception
Hyatt Regency liotel
GROSS REVENUES $195,000.00
Concert Ticket Sales
Reception Ticket Sales
Corporate Sponsorship
_ TOTAL DIRECT EXPENSES $120,000.00
Travel
Consulting
Catering
Artwork, Printing, & Framing
Insurance
Stadium Clean-up
Stagehands & Security
Floral Arrangements
T-shirts
Evening Entertainment
Photography
Equipment Rental
Shipping
21(► C'Irnvinq ISllilding
Tall;fllasrcr, Florida 121111)
(0(1A1 AR7 10"
NET REVENUES $ 75,000.00
Transfer to State Treasury
Min American and Caribbean Basin
Scholarship Trust Fund . $ 75,000.00
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