Laserfiche WebLink
<br /> <br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 4.9 <br />Agenda Section Meeting Date Prepared by <br />Consent June 15, 2020 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 <br />Reviewed by <br /> <br /> <br />Action Requested <br />Adopt, by motion, a resolution authorizing the transfer from the Municipal Liquor Fund to the Park <br />Improvement Fund. <br /> <br />Background/Discussion <br />The Park Improvement Fund was created to provide a long-term funding source for the buildout of city <br />parks, replacement and maintenance of park capital assets, and beautification. <br /> <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 /> <br />Financial Impact <br />The 2020 transfer amount is $255,147 and is budgeted for in the Municipal Liquor Fund. <br /> <br />Attachments <br /> Resolution authorizing a transfer from the Municipal Liquor Fund to the Park Improvement Fund. <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />