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City of <br />Elk - <br />River <br />To <br />City Council <br />Meeting Date <br />December 16, 2024 <br />Item Description <br />FT Center 2025 Budget <br />Request for Action <br />Item Number <br />8.1 <br />Prepared By <br />Joe Stremcha, Business Services Director/Assistant <br />City Administrator <br />Reviewed by <br />Katie Harstad <br />Cal Portner <br />Tina Allard <br />Action Requested <br />Approve, by motion, the 2025 FT Center budget as recommended by the MFAC. <br />Background/Discussion <br />At the December 9, 2024, MFAC Regular Meeting, staff presented the 2025 FT Center budget with a $1,900 <br />surplus. The Commission reviewed each budget category for the FT Center as well as goals and performance <br />metrics, with an emphasis on communication. <br />Factors for 2025 changes include: <br />■ Revised revenue and expense projections for the Overlook Lounge using current market trends and <br />established hours of operation. <br />Revised revenue projections based on approved rates and projected facility rentals. <br />Federal ARPA funds will be designated as revenue replacement to meet federal reporting <br />requirements. The Council -approved resolution requires the funds only to be used to fund hard <br />surface improvement, including concrete flooring, sports court, and turf alterations, to enable the turf <br />to be rolled and replaced seasonally for peak utilization periods. This is scheduled for the Fall of 2025. <br />Staff will prepare a construction proposal for the commission to review during their scheduled <br />February meeting. <br />Financial Impact <br />Creating a balanced budget will allow the FT Center to continue to serve the community. <br />Mission/Policy/Goal <br />Responsible for every dollar - good stewards. <br />Attachments <br />I. FT Center Commission Staff Report (December 9, 2024) (6) <br />The Elk River Vision <br />A avelcoming community with revolutionary and spirited resourcefulness, exceptional service, and community p p W E H E U A Y <br />engagement that encourages and inspires prosperityI Irk <br />273 <br />