HomeMy WebLinkAboutVIII-13 2024 Budget Adjustments - Parks DepartmentCity Council Memorandum
To:Mayor Fasbender &City Councilmembers
From:Chris Eitemiller,Finance Manager
Date:March 17, 2025
Item:2024 Parks Budget Amendments
Council Action Requested:
Staff requests Council approval to create 2024 budget adjustments in the Parks
department for three projects.The first change will increase the Mighty Ducks grant
amount and add 2024 bond proceeds and expenses for the Arena renovation project.
The other amendments will add expenses and revenue associated with the Mississippi
River Boat Launch and recognize Dakota County’s contribution to the Riverbank
Erosion project. These adjustments will bring all of these projects’2024 budget in line
with actual expenditures.
Background Information:
For the Civic Arena renovation project, an additional $41,628 has been added to the
City’s Mighty Ducks grant. The new grant total is $207,995 and will contribute to the
new refrigeration system. This was part of the 2024 bond issuance, and the project’s
share has been allocated to the Arena special revenue fund. This adjustment will add
budget authority for both these bond proceeds and the project’s expenses totaling $5.4
million.
The next project is a new boat launch on the Mississippi River. The State of MN DNR
has awarded a grant that will fund all expenses for this addition. This amendment will
recognize the grant and expenses, each totaling $17,226.
The Parks Department previously received Council approval for a Riverbank
Stabilization project, with expenses of $76,815. Dakota County is responsible for 40%
of these costs, which equals $30,726. The City recently invoiced the County for this
payment. This budget amendment will recognize this contribution.
Financial Impact:
The increase to the Mighty Ducks and MN DNR grant, as well as Dakota County’s
contribution, will replenish City resources that have already been spent on these projects.
As previously stated, bond proceeds have already been allocated to the Arena fund for
this project and this entry simply adjusts the budget to reflect actual revenues and
expenditures.
Advisory Commission Discussion:
N/A
Council Committee Discussion:
N/A
Attachments:
N/A
VIII-13