4.10. SR 06-19-2017 EOty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 4.10
Agenda Section Meeting Date Prepared by
ConsentJune 19, 2017 Lori Ziemer, Finance Director
Item Description Reviewed by
Resolution Authorizing Transfer from Municipal T. ohn Cunningham, Fire Chief
Liquor Fund to Park Improvement Fund Reviewed by
Tina Allard, City Clerk
Action Requested
Adopt,by motion, a resolution authorizing transfer from the Municipal Liquor Fund to the Park
Improvement Fund.
Background/Discussion
The Park Improvement Fund was created to provide a long-term funding source for city park needs such
as build-out,replacement,maintenance of capital assets, and beautification. The funding policy approved
in 2012 allows the city to utilize up to 45% of operating income less budgeted transfers from the
Municipal Liquor Fund to the Park Improvement Fund.
Financial Impact
The 2017 transfer amount is $228,016 and is budgeted in the Municipal Liquor Fund 2017 budget.
Attachments
■ Resolution authorizing a transfer from the Municipal Liquor Fund to the Park Improvement
Fund.
■ 2017 Park Improvement Fund CIP.
POWERED 6T
Template Updoted 4/14 INAWRE1
City of
Elk City of Elk River
Wver City Council
Resolution 17-
A Resolution of the City Council 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$228,016 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: The transfer of$228,016 from the Municipal Liquor Fund to
the Park Improvement Fund.
Passed and adopted this 191h day of June 2017.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ
Capital Improvement Plan
City of Elk River, Minnesota
Project x PIF -17
Project Name 2017 Park Improvement Projects
c tables(benches - $15,000
repairs & connections - $250,000
property lines - $10,000
ide Park improvements - $63,000
Ion restoration (FRM match) - $10,000
otic field improvements - $178,000
ngton Park playground replacement - $80,000
s Edge plaza improvements - $35,000
inding signage - $50,000
Justification
our park system.
2017 thru 2021
Department Park Improvement Fund
Contact Parks Supt.
Type Maintenance
Useful [Afe Unassigned
Category Park Improvements
Expenditures 2017 2018 2019 2020 2021 Total
Park Improvements 711,000 711,000
Total 711,000 711,000
Funding Sources 2017 2018 2019 2020 2021 Total
Park Improvement Fund 711,000 711,000
Total 711,000 711,000
1017-1021 CAPITAL IMPROVEMENT PLAN Page 37