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�, <br />Elk s �- <br />River <br />Request for Action <br />To Item Number <br />Ma ror and Cinr Council 11.5 <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 />Furniture and Things CommunityT Event Center 2024 Tim Dalton, Multi u ose Facilit�r Su erintendent <br />Budget Review (Continued) Reviewed by <br />Cal Pormer, City Administrator <br />Action Requested <br />Revie`v the 2024 Furniture and Things CommunityT Event Center (FT Center) budget �uith priority and operational <br />changes as recommended byT the commission. <br />Background/Discussion <br />At the August 14, 2023, MFAC meeting, staff pYesented the 2024 FT Center budget showing a deficit of $226,750. <br />The Commission chose not to approve the budget and tasked staff �vith bringing back a balanced budget for <br />revie`v. <br />At the October 9, 2023, MFAC meeting, staff presented a list of budget amendments that included a varietyr of <br />expense reduction opportunities and potential increases in revenue. The Commission approved several changes <br />Yesulting in a budget surplus of $53,850 as recommended to the Council. <br />Financial Impact <br />Creating a balanced budget will allo`v the FT Center to continue to serve the community. <br />Mission/Policy/Goal <br />Establishing sustainable practices gives the FT Center the opportunityT to succeed. <br />Attachments <br />■ FT CenteY Adjusted Budget <br />■ FT Center UnYecoveYed Costs <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 />