10.3 SR 11-07-2022
Request for Action
To Item Number
Mayor and City Council 10.3
Agenda Section Meeting Date Prepared by
Work Session November 7, 2022 Lori Ziemer, Finance Director
Item Description Reviewed by
Furniture and Things Community Event Center Cal Portner, City Administrator
Fund Balance
Reviewed by
Action Requested
Receive information and provide staff direction.
Background/Discussion
Prior to demolition of The Barn Rink in 2019, the ensuing construction of the Furniture & Things Community
Event Center and the pandemic, the Ice Arena Fund carried a sizeable fund balance.
With only one rink in operation for the 2019-20 season, the facility lost at least half of its revenue with the same
operational costs. The onset of the pandemic in early 2020 closed the building down for a period of time and later
spread ice times out to ensure pandemic precautions could be met, further reducing the number of ice hours sold.
Throughout this period until the end of the governor’s emergency order in July of 2021, operational costs for
utilities and staffing were offset with fund balance.
The original intent of federal ARPA funds was to offset operational revenue losses and pandemic-related
expenses. This discussion will provide an opportunity for Council to understand the facility losses and provide
staff direction.
Financial Impact
N/A
Mission/Policy/Goal
The Elk River Mission Statement
Attachments
None
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity.
Updated: August 2020