4.6. SR 06-15-2015 �j
Elk = - Request for Action
River
To Item Number
Mayor and City Council 4.6
Agenda Section Meeting Date Prepared by
Consent June 15, 2015 Tim Simon, Finance Director
Item Description Reviewed by
Resolution: Authorizing Transfer from Municipal Cal Portner, City Administrator
Liquor Fund to Park Improvement Fund Reviewed by
Action Requested
Approve, by motion, a transfer from the Municipal Liquor Store Fund to the Park Improvement Fund.
Background/Discussion
On June 2, 2008, the City Council reviewed and approved the creation of a Park Improvement Fund to
provide a long-term funding source for city park needs. Subsequently, on November 19, 2012, the
funding percentage was revised and approved during the 2013-2017 capital improvement planning
process.
The Park Improvement Fund funding policy is reprinted below for your reference.
The City of Elk River may utilise up to 45% of operating income less budgeted transfers from its municipal liquor
stores to fund a Park Improvement Fund(PM). The Park Improvement Fund will be used for further build-out of
our currentparks, replacement and maintenance of capital assets, and the beautification of cityparks.
The Municipal Liquor Fund cash flora will be revie�a ed at least annually and prior to the transfer to insure the Liquor
Fund has retained enough profits as working capital for the operating and non-operating expenditures incluaing
personnel costs, maintenance, debt service payments and expansion of physical assets, includng store facilities. In
addition, budgeted transfers and capital improvements wbicb utili.Ze liquorprofits will be made prior to the Park
Improvement Fund transfer.
The amount will be calculated after the prioryear's audit is complete and will be subsequently transferred via resolution
from the City Council. The fund will not incur any debt nor spend in excess of the cash available since the transfer will
be calculatedyearly in June.
Financial Impact
The 2015 transfer amount is $290,668. The Municipal Liquor Store Fund has this transfer budgeted for
2015.
Attachments
■ Resolution authorizing a transfer from the Municipal Liquor Store Fund to the Park
Improvement Fund.
■ 2015-2019 Capital Improvement Plan sheet for 2015 Park Improvement Fund.
P0WIeEa 0
Template Updated 4/14 INAWRE1
City of
Elk
River
Resolution 15-
A Resolution of the City of Elk River Authorizing a Transfer from the
Municipal Liquor Fund to the Park Improvement Fund
WHEREAS, The City Council approved establishing the Park Improvement Fund on June
2, 2008, and, revised on November 19, 2012, and,
WHEREAS, The City Council has reviewed the request and determined it to be a sound
financial practice; and,
WHEREAS, It has been determined that $290,668 should be transferred out of the
Municipal Liquor Fund to provide funding for the Park Improvement Fund;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: that the City Council of the City of Elk River makes the
following transfer of funds from the Municipal Liquor Fund:
Park Improvement Fund $290,668
Passed and adopted this 15ffi day of June 2015.
John J. Dietz, Mayor
ATTEST:
Tina Allard, City Clerk
P'0WIRID 6Y
1`4 A URA
Capital Improvement Plan 2015 rhru 2019
Elk Park Improvement Fund
City of Elk River, Minnesota Contact Park&Rec.Director
Type Maintenance
Project# P1F-15 Useful Life Unassigned
Project Name 2015 park improvement projects
Category Park Improvements
Priority n/a
Description
2015 projects include:
trail repairs and connections(5100,000)
Orono Park improvements(520,000)
Upgrade irrigation to smart systems(56,300)
Athletic field improvements(595,000)
Windsor Park improvements(510,000)
Skate park design(535,000)
Hillside Park improvements(519,000)
Park forest management plan(56,000)
Houlton restoration management plan(55,000)
playground safety(56,800)
Houlton improvements(510,000)
Bailey Point restoration management plan(55,000)
Park property lines(56,000)
Design review of Rivers Edge Commons park(514,000)
Justification
Annual maintenance/repairs of our park system.
Expenditures 2015 2016 2017 2018 2019 Total
Park Improvements 338,100 338,100
Total 338,100 338,100
Funding Sources 2015 2016 2017 2018 2019 Total
Park Improvement Fund 338,100 338,100
Total 338,100 338,100
2015-2019 CAPITAL IMPROVEMENT PLAN Page 1