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(Draft January 2002) Key Financial Strategies <br /> For Elk River <br /> <br />Park <br />Development <br /> <br />The City has needs for the acquisition of land for new parks <br />and the development of existing park lands. The Park and <br />Recreation Commission is working to create a plan for <br />park improvements. <br /> <br />Timing <br /> <br />Estimated Cost <br /> <br />Funding <br /> <br />To be determined. The Council will receive <br />recommendations from Park and Recreation Commission <br />planning. <br /> <br />To be determined. The Council will receive <br />recommendations from Park and Recreation Commission <br />planning. <br /> <br />The City receives park dedication fees from new <br />development. These monies will not be adequate to meet <br />the City's park development needs. <br /> <br />The City has also used monies in the NSP/RDF special <br />revenue fund for park improvements. <br /> <br />Park improvements can be financed under Chapter 429 <br />subject to the process and assessment requirements. The <br />other option is to seek voter approval to issue general <br />obligation bonds for park improvements. <br /> <br />[:~8q~que <br /> <br />Expenditures <br /> <br />Net transfers <br /> <br />Surplus/Defidt <br /> <br />Fund Balance <br /> <br />Park Dedication Fund <br /> <br /> 1997 1998 1999 2000 <br />Park dedication 148,339 68,418 627,919 205,440 <br />Landfill surcharge 0 0 0 0 <br />Interest 10,044 8,275 9,954 45,014 <br />Other 0 57,730 49,000 0 <br /> <br />158,383 134,423 686,873 250,454 <br /> <br />Cu~mt 74,638 46,205 34,266 66,017 <br />Capital 148,642 69,744 190,920 116~931 <br /> 223,280 115,949 225,186 182,948 <br /> <br />100,000 (6,875) 0 0 <br /> <br />35,103 11,599 461,687 67,506 <br /> <br />Begin 168,266 206,124 217,723 679,410 <br />End 203,369 217,723 679,410 746,916 <br /> <br />Page <br /> 57 <br /> <br /> <br />