4.7. SR 06-18-2018 EOty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 4.7
Agenda Section Meeting Date Prepared by
ConsentJune 18, 2018 Lori Ziemer, 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
Adopt,by motion, a resolution authorizing the 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 buildout,replacement and 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 2018 transfer amount is $197,174 and is budgeted in the Municipal Liquor Fund 2018 budget.
Attachments
■ Resolution
■ 2018 Park Improvement Fund CIP
The Elk River Vision
A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By
service, and community engagement that encourages and inspires prosperity INAWRE1
City of
Elk City of Elk River
Wver City Council
Resolution 18-
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.
WHEREAS, The City Council has reviewed the request and determined it to be a sound
financial practice.
WHEREAS, It has been determined that$197,174 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$197,174 from the Municipal Liquor fund to
the Park Improvement fund.
Passed and adopted this 18th day of June 2018.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ
Capital Improvement Plan
City of Elk River, Minnesota
Department Park Improvement Fund
2018 2022thru
Contact Parks Supt.
Description
2018 projects include:
Deerfield playground replacement - $80,000
Hillside Park improvements - $65,000
Houlton restoration (FMR match) - $10,000
Woodland Trails grant match - $25,000
DAAC scoreboards - $40,000
Oak Knoll lights - $125,000
Project #PIF-18
Justification
Annual maintenance/repairs of our park system.
Useful Life Unassigned
Project Name 2018 Park Improvement Projects Category Park Improvements
Type Maintenance
Total20182019202020212022Expenditures
345,000345,000Park Improvements
345,000 345,000Total
Total20182019202020212022Funding Sources
345,000345,000Park Improvement Fund
345,000 345,000Total
2018-2022 CAPITAL IMPROVEMENT PLAN