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