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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br /> <br />Request for Action <br /> <br />To <br />City Council <br />Item Number <br />4.5 <br /> <br />Meeting Date <br />July 7, 2025 <br />Prepared By <br />Lori Stich, Finance Manager <br /> <br />Item Description <br />Resolution 25-34: Authorize Transfer from the <br />Liquor Fund to the Park Improvement Fund <br />Reviewed by <br />Lori Stich <br />Joe Stremcha <br />Cal Portner <br />Tina Allard <br /> <br />Action Requested <br />Adopt, by motion, Resolution 25-34 authorizing the transfer from the Municipal Liquor Fund to the Park <br />Improvement Fund <br /> <br /> <br />Background/Discussion <br />The Park Improvement Funding Policy allows for the transfer from the Municipal Liquor Fund of up to 45% of <br />operating income less budgeted transfer or $250,000, whichever is greater. <br /> <br />The goal is to provide long-term funding source stability and allow for planning of the replacement and <br />maintenance of city park assets. <br /> <br />Based on the funding policy, the amount of the transfer from the Municipal Liquor Fund to the Park <br />Improvement Fund will be $250,000. <br /> <br />Financial Impact <br />The 2025 transfer amount of $250,000 is budgeted for in the Municipal Liquor Fund. <br /> <br />Mission/Policy/Goal <br />Responsibly grow and develop a sustainable and prosperous community. <br /> <br />Attachments <br />1. Resolution - Transfer from Liquor to PIF <br /> <br /> <br />Page 94 of 309