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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.10 <br /> Agenda Section Meeting Date Prepared by <br /> ConsentJune 19, 2017 Lori Ziemer, Finance Director <br /> Item Description Reviewed by <br /> Resolution Authorizing Transfer from Municipal T. ohn Cunningham, Fire Chief <br /> Liquor Fund to Park Improvement Fund Reviewed by <br /> Tina Allard, City Clerk <br /> Action Requested <br /> Adopt,by motion, a resolution authorizing transfer from the Municipal Liquor Fund to the Park <br /> Improvement Fund. <br /> Background/Discussion <br /> The Park Improvement Fund was created to provide a long-term funding source for city park needs such <br /> as build-out,replacement,maintenance of capital assets, and beautification. The funding policy approved <br /> in 2012 allows the city to utilize up to 45% of operating income less budgeted transfers from the <br /> Municipal Liquor Fund to the Park Improvement Fund. <br /> Financial Impact <br /> The 2017 transfer amount is $228,016 and is budgeted in the Municipal Liquor Fund 2017 budget. <br /> Attachments <br /> ■ Resolution authorizing a transfer from the Municipal Liquor Fund to the Park Improvement <br /> Fund. <br /> ■ 2017 Park Improvement Fund CIP. <br /> POWERED 6T <br /> Template Updoted 4/14 INAWRE1 <br />