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�, <br />Elk s �- <br />River <br />Request for Action <br />To Item Number <br />Ma ror and Cinr Council 11.4 <br />Agenda Section Meeting Date Prepared by <br />WoYk Session NovembeY 6, 2023 oe Stremcha, Assistant Cit�r Admitustrator <br />Item Description Reviewed by <br />Discuss Resolution: Close Great River Energy (GRE) Cal Pormer, Ci r Administrator <br />Reserve Fund Account and Redistribute Fund Balance Reviewed by <br />Action Requested <br />Consider the resolution to close the GRE Reserve Fund and redistribute the fund balance. <br />Background/Discussion <br />The GRE Reserve Fund was set up to track funds received from Great River EnergyT for a host fee. The Great <br />River Energy refuse to eneYgy plant has closed and the host fee payrments have ended. The fund had since been <br />used for miscellaneous projects such as the cityT's wayTfinding initiative and BaileyT Point Nature Preserve purchase. <br />It has been determined that anyT remaining funds should have clearly defined usage and be transferred out of the <br />GRE Reserve Fund to be split between the Equipment Replacement Fund and the Government Buildings Fund. <br />Financial Impact <br />Redefining the use of these funds. <br />Mission/Policy/Goal <br />Clearly defined use of funds to meet goals and priorities. <br />Attachments <br />■ Resolution to Close GRE Reserve Fund <br />■ 2019 Council Retreat Minutes <br />The Elk River Vision <br />A 2a�elcolning co�nlnunity 2a�ith T evolutiona� y and spizzted T esou� cefulness, exceptional <br />se�vice, and coln�nunity engagelnent that encou�ages and ins�iz•es pTo�pe�zty. <br />rowEREo ar <br />�I'1 ���� <br />Update�l• January 2023 <br />