4.11 SR 06-20-2023�,
�Elk � �
River�-
Request for Action
To Item Number
Ma roY and Ci r Council 4.11
Agenda Section Meeting Date Prepared by
Consent une 20, 2023 Lori Stich, Finance Mana eY
Item Description Reviewed by
Resolution: Authorize Transfer from Municipal Cal Portner, Ci T Administrator
Liquor Fund to Park Improvement Fund Reviewed by
Action Requested
Adopt, byT motion, a resolution authorizing the transfer from the Municipal Liquor Fund to the Park
Improvement Fund.
Background/Discussion
The Park Improvement Funding Policy approved in 2022 allows for the transfer from the Municipal Liquor
Fund of up to 45% of operating income less budgeted transfers or $250,000, `vhichever is greater.
The goal is to provide long-term funding source stabilityT and allo`v for the planning of replacement and
maintenance of cityr park assets.
Based on the funding policy, the amount of the transfer from the Municipal LiquoY Fund to the PaYk
Improvement Fund will be $250,000.
Financial Impact
The 2023 transfer amount is $250,000 and is budgeted for in the Municipal Liquor Fund.
Mission/Policy/Goal
To responsibl�T gro�v and develop a sustainable and prosperous communityT.
Attachments
■ Resolution
The Elk River Vision
A�a�elcolning co�nlnunity �a�ith �evolutiona�y and �pi�zted resouTcefulness, exceptional se�vice, and � p o w E R E u e Y
colnlnunity engageynent that encou�ages and in�pires prospe�zty ������
City of
Elk -�-�
RiVer
City of Elk River
City Council
Resolution 23-
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 CityT Council approved the establishing of the Park Improvement Funding Policy on
June 2, 2008, and revised the policy on June 21, 2021.
WHEREAS, the CittT 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 from the Municipal Liquor
Fund to the Park Improvement Fund.
NOW, THEREFORE, BE IT RESOLVED byT the CityT 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 20�� day of June 2023.
John J. Dietz, MayoY
ATTEST:
Tina Allard, CityT Clerk
FowEREO �r
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