TITLE
Consider a memorandum/resolution authorizing the donation of proceeds to the Texas A&M University Central Texas Foundation.
SUMMARY
AGENDA ITEM
Authorizing the donation of proceeds to the Texas A&M University Central Texas Foundation.
ORIGINATING DEPARTMENT
Community Services
BACKGROUND INFORMATION
Stonetree Golf Club hosted the inaugural Texas A&M Central Texas (TAMUCT) Golf Classic in 2010. The TAMUCT Golf Classic was launched to serve as a funding mechanism to support the university’s scholarship funding for students. The TAMUCT Foundation has raised in excess of $2.5 million for student scholarships. The TAMUCT Golf Classic is hosted annually in Central Texas. The hosting responsibilities are shared between Killeen and Copperas Cove. Killeen has hosted four of the six TAMUCT Golf Classic events.
DISCUSSION/CONCLUSION
As host of the TAMUCT Golf Classic, the City of Killeen has assisted the university in raising roughly $26,000 for the university’s scholarship fund. The following is a breakdown of the funds given back to TAMUCT at the conclusion of the four TAMUCT Golf Classic events hosted by the City of Killeen:
· 2010 - $29,000 raised, $22,000 contribution following expenses
· 2011 - $26,000 raised, $18,000 contribution following expenses
· 2013 - $39,000 raised, $31,000 contribution following expenses
· 2014 - $46,000 raised, $35,000 contribution following expenses
Staff proposes that City Council authorize Stonetree Golf Club to collect donations for the TAMUCT Golf Classic and utilize collected funds to pay any and all expenses related to hosting the event. At the events conclusion and following the payment of all incurred expenses related to the event, the remaining funds will be distributed in their entirety to the TAMUCT Foundation.
Article III, Section 52 and Article XI, Section 3 of the Texas Constitution states that the...
Click here for full text