ITEM TITLE:
Action Item: Approval of Recommendation to City Council to Capitalize the Beautification Reserve Fund to a Starting Balance of $200,000 for 2025.
SUBMITTED BY: Elise Sorum-Birk, Deputy City Clerk
FISCAL NOTES:
Expenditure Required: TBD
Unencumbered Balance: $121,411.10 (assuming payment of all 2024 grant awards)
Funding Source: Beautification Reserve
RECOMMENDATION:
Approve recommendation to City Council to capitalize the Beautification Reserve Fund to a balance of $200,000 for 2025.
SUMMARY STATEMENT:
At their August 20th work session, the Beautification Commission discussed how to structure an ask to City Council that would allow for continuation of the existing Beautification Matching Grant Program and provide available funds for a potential match if the Commission were to apply for an Our Town Grant award.
The commission suggested that the fund could be capitalized to $200,000 with $150,000 available for the matching grant program and $50,000 available for an Our Town Grant match.
Recommendations to City Council must be approved formally and only City Council has the ability to appropriate funds.