Agenda Packets - 1999/02/16 - Laserfiche WebLink

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City of Mounds View,— Staff Report To: Chuck Whiting, City Clerk-Administrator From: Bruce A. Kessel, finance Director Item Title/Subject: Furnishings for C ommunity Center Date of Report: February 10, 1999 The Park and Recreation Commission haas prepared a list of approximately$43,000 of additional items that were not previously identified that would assist in the operation of the Community Center. In addition, they are exploring v..hether cost estimates for the sand volleyball court and two half court basketball courts that were on the original plans are included in the amounts reserved in the construction budget for 1as idscaping. At the present time, it appears that the ac-ival costs for the Community Center will be within several thousand dollars of the construction budget including the associated contingency fund. When the Community Center bids were approved by the City Council, the Council was informed that if the bids were approved with the alternatives,that the total project including all associated costs would be approximately $6.2 milli :. Based upon the information presented at the February 1, 1999 work session, it appear that the total cost with the estimated costs for items not yet completed will be approximately $6.a 9 million. At your request, there are several funding options if the items are to be purchased: 1. TIF Funds. Based upon my under standing of TIF, most of the items on the list totaling $43,000 should be allowable TIF 4xpenditures if purchased in the near future. The most questionable items would be the is -en games at$5,000 and the TV/VCR/cart at$650. 2. Park Dedication Funds. At the encM_of 1998, the City has approximately $227,000 in Park Dedication Funds. It is my underssanding that the Park and Recreation Commission has discussed using these funds to pay— for some or all of the items on the list. 3. General Fund Reserves. The Genual Fund does not have restrictions which would prohibit using its reserves to purcIzase items on the list. However, since these items were not budgeted, if they are to be purchased, a budget amendment would be necessary. Using any of the above sources has vario._zs advantageous and drawbacks which relate more to the overall City policy for each of these funds. If you need any additional information, please let me know.