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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Multipurpose Facility Advisory Commission 8.1 <br />Agenda Section Meeting Date Prepared by <br />Old Business October 9, 2023 Tim Dalton, FT Center Superintendent <br />Item Description Reviewed by <br />Approve 2023-2024 FT Center Budget Joe Stremcha, Assistant City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Approve by motion the 2023-2024 FT Center Budget as amended based on the priorities identified by the <br />commission from staff’s list of recommendations. <br /> <br />Background/Discussion <br />At the August 14, 2023, MFAC meeting, staff presented the 2023-2024 FT Center budget showing a deficit of <br />$226,750. The Commission chose not to approve the budget to bring to the City Council, instead tasking staff <br />with bringing back a balanced budget for review. <br /> <br />Included is a list of budget amendments that incorporate a combination of expense reductions and increases in <br />revenue. <br /> <br />Financial Impact <br />Creating a balanced budget will allow the FT Center to continue to serve the community. <br /> <br />Mission/Policy/Goal <br />Establishing sustainable practices gives the FT Center the opportunity to succeed. <br /> <br />Attachments <br />8.1 at1 FT Center Draft Budget <br />8.1 at2 Facility Financial Challenges <br />8.1 at3 Personal Services Percentage of Expenditures <br />8.1 at4 Budget Amendment Options <br />8.1 at5 FT Center Adjusted Budget <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />