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<br />
<br /> STAFF REPORT
<br />
<br />TO: Mayor Fischer and Members of City Council
<br />
<br />FROM: Sam Magureanu, Finance Director
<br />
<br />DATE: November 13, 2024
<br /> RE: Final Pay Request for Fire Department Aerial Truck
<br />
<br />
<br />ACTION TO BE CONSIDERED:
<br />Motion to approve the final payment of $705,931.96 to MacQueen Equipment, LLC for the new
<br />110’ Pierce aerial truck.
<br />
<br />BACKGROUND:
<br />The fire department ladder truck has been approved for purchase as part of the Capital
<br />Improvement Fund (457) at the January 26, 2022 City Council meeting in the amount not to
<br />exceed $1,350,898.
<br />
<br />The new ladder truck has been delivered to our local vendor for tool and equipment mounting.
<br />The initial payment of $675,449 was made at the time of contract signing in 2022. The final
<br />payment of $675,449 is now due.
<br />
<br />The fire department had a change order to add additional equipment on the truck in the amount
<br />of $30,482.96, bringing the total final payment to $705,931.96. The fire department will add the
<br />change order amount of $30,482.96 to their annual donation in December.
<br />
<br />SOURCE OF FUNDS:
<br />The final payment will be funded out of the fire equipment fund 457, using funds from the Public
<br />Safety Aid received by the city in late December of 2023. The city allocated $450,000 of the aid
<br />to go toward the second payment of the arial truck. There is currently sufficient cash in the fund
<br />to cover the second payment of $675,449 and the additional $30,482.96 for the final payment of
<br />$705,931.96. It is projected that the fund will end 2024 with approximately $2,063,107 in fund
<br />balance. See below a ten-year fund balance projection for the Fire Capital Equipment Fund 457.
<br />
<br />
<br />2025 2026 2027 2028 2029 2030 2031 2032 2033 2034
<br />Revenues 189,600 187,500 187,800 187,800 178,900 180,500 175,800 177,300 178,800 180,400
<br />Expenditures 399,792 156,354 190,761 1,082,711 18,372 647,197 23,412 30,432 22,452 22,472
<br />Fund Balance 1,852,915 1,884,061 1,881,100 986,189 1,146,717 680,020 832,408 979,276 1,135,624 1,293,552
<br /> -
<br /> 200,000
<br /> 400,000
<br /> 600,000
<br /> 800,000
<br /> 1,000,000
<br /> 1,200,000
<br /> 1,400,000
<br /> 1,600,000
<br /> 1,800,000
<br /> 2,000,000
<br /> -
<br /> 200,000
<br /> 400,000
<br /> 600,000
<br /> 800,000
<br /> 1,000,000
<br /> 1,200,000
<br />Fund BalanceRevenues and ExpendituresFire Equipment Fund (457)
<br />Revenues Expenditures Fund Balance
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