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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.7 <br /> Agenda Section Meeting Date Prepared by <br /> ConsentJune 18, 2018 Lori Ziemer, Finance Director <br /> Item Description Reviewed by <br /> Resolution Authorizing Transfer from Municipal Cal Portner, City Administrator <br /> Liquor Fund to Park Improvement Fund Reviewed by <br /> Action Requested <br /> Adopt,by motion, a resolution authorizing the 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 buildout,replacement and maintenance of capital assets, and beautification. <br /> The funding policy approved in 2012 allows the city to utilize up to 45% of operating income less <br /> budgeted transfers from the Municipal Liquor Fund to the Park Improvement Fund. <br /> Financial Impact <br /> The 2018 transfer amount is $197,174 and is budgeted in the Municipal Liquor Fund 2018 budget. <br /> Attachments <br /> ■ Resolution <br /> ■ 2018 Park Improvement Fund CIP <br /> The Elk River Vision <br /> A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By <br /> service, and community engagement that encourages and inspires prosperity INAWRE1 <br />