4.8 SR 06-06-2022
Request for Action
To Item Number
Mayor and City Council 4.8
Agenda Section Meeting Date Prepared by
Consent June 6, 2022 Lori Ziemer, Finance Director
Item Description Reviewed by
Resolution: Authorize Transfer from Liquor Fund Cal Portner, City Administrator
to Park Improvement Fund
Reviewed by
Action Requested
Adopt, by motion, a resolution authorizing the transfer from the Liquor Fund to the Park Improvement
Fund.
Background/Discussion
The Park Improvement Funding Policy approved in 2021 allows for the transfer from its municipal liquor
stores of up to 45% of operating income less budgeted transfers or $250,000, whichever is greater. This
will provide stability to the long-term funding source and allow for the planning of replacement and
maintenance of city park assets.
Based on the funding policy, the amount of the transfer from the Liquor fund to the Park Improvement
fund will be $250,000.
Financial Impact
The 2022 transfer amount is $250,000 and is budgeted for in the Liquor fund.
Mission/Policy/Goal
To responsibly grow and develop a sustainable and prosperous community.
Attachments
Resolution authorizing a transfer from the 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 22-____
A Resolution of the City Council of the City of Elk River Authorizing a
Transfer from the Liquor Fund to the Park Improvement Fund
WHEREAS, The City Council approved the establishing of the Park Improvement
Funding Policy on June 2, 2008 and revised the policy on June 21, 2021.
WHEREAS, The City Council has reviewed the request and determined it to be a sound
financial practice.
WHEREAS, It has been determined that $250,000 should be transferred out of the 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 $250,000 from the Liquor fund to the Park
Improvement fund.
Passed and adopted this 6th day of June 2022.
John J. Dietz, Mayor
ATTEST:
Tina Allard, City Clerk