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�, <br />�Elk � � <br />River�- <br />Request for Action <br />To Item Number <br />Ma roY and Ci r Council 4.11 <br />Agenda Section Meeting Date Prepared by <br />Consent une 20, 2023 Lori Stich, Finance Mana eY <br />Item Description Reviewed by <br />Resolution: Authorize Transfer from Municipal Cal Portner, Ci T Administrator <br />Liquor Fund to Park Improvement Fund Reviewed by <br />Action Requested <br />Adopt, byT motion, a resolution authorizing the transfer from the Municipal Liquor Fund to the Park <br />Improvement Fund. <br />Background/Discussion <br />The Park Improvement Funding Policy approved in 2022 allows for the transfer from the Municipal Liquor <br />Fund of up to 45% of operating income less budgeted transfers or $250,000, `vhichever is greater. <br />The goal is to provide long-term funding source stabilityT and allo`v for the planning of replacement and <br />maintenance of cityr park assets. <br />Based on the funding policy, the amount of the transfer from the Municipal LiquoY Fund to the PaYk <br />Improvement Fund will be $250,000. <br />Financial Impact <br />The 2023 transfer amount is $250,000 and is budgeted for in the Municipal Liquor Fund. <br />Mission/Policy/Goal <br />To responsibl�T gro�v and develop a sustainable and prosperous communityT. <br />Attachments <br />■ Resolution <br />The Elk River Vision <br />A�a�elcolning co�nlnunity �a�ith �evolutiona�y and �pi�zted resouTcefulness, exceptional se�vice, and � p o w E R E u e Y <br />colnlnunity engageynent that encou�ages and in�pires prospe�zty ������ <br />