HomeMy WebLinkAboutVIII-15 2025 Budget Adjustment - Lake Rebecca Park ProjectCity Council Memorandum
To:Mayor Fasbender &City Councilmembers
From:Chris Eitemiller,Finance Manager
Date:May 19, 2025
Item:Lake Rebecca 2025 Budget Adjustment
Council Action Requested:
Staff requests Council approval to add budget authority to match remaining costs for
the Lake Rebecca upgrade project.
Background Information:
There is a state grant that will fully fund the Lake Rebecca project. The majority of
this project will be completed in 2025. The state of MN will reimburse the City for
actual costs up to $1 million.
The Parks department is requesting $776,489 be added to the Parks Capital fund’s
authorized spending. The state of MN will reimburse the City for actual costs incurred
once the project is completed.
Financial Impact:
There is no negative impact to the City’s finances, as this project will be fully reimbursed
by the state of MN.
Advisory Commission Discussion:
N/A
Council Committee Discussion:
N/A
Attachments:
N/A
VIII-15