4.9. SR 06-15-2020
Request for Action
To Item Number
Mayor and City Council 4.9
Agenda Section Meeting Date Prepared by
Consent June 15, 2020 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 the buildout of city
parks, replacement and maintenance of park 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 2020 transfer amount is $255,147 and is budgeted for in the Municipal Liquor Fund.
Attachments
Resolution authorizing a transfer from the Municipal Liquor Fund to the Park Improvement Fund.
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
City of Elk River
City Council
Resolution 20-____
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 $255,14,855 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 $255,147 from the Municipal Liquor fund to
the Park Improvement fund.
Passed and adopted this 15th day of June 2020.
John J. Dietz, Mayor
ATTEST:
Tina Allard, City Clerk