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Vehicle and Equipment Replacement Plan <br />The schedule has been updated to reflect retirements and new acquisitions. The <br />current amounts transferred to the Vehicle and Equipment Fund from the <br />participating funds is sufficient to maintain replacement levels except for the <br />General Fund. The General Fund amount was reduced to balance the budget in <br />2010, 2011, 2012, and 2013 but is systematically increased starting in 2013. <br />Impact on Capital Projects Funds' Cash Balances: <br />This presents the sources and uses and impacts to cash for the Capital Improvement <br />Program on the four capital projects funds for the five year period of this report, 2014 <br />thru 2018. <br />Utility Rate Studies <br />Utility rate studies are included and there are mixed results. The storm water rate can <br />be maintained at the current level. The street light rate is proposed to increase by $.25 <br />per quarter which will add $1 per year. The increase is needed to support additional <br />lights that have been added as part of the trail system and higher electric costs. The <br />water and sewer rates should be considered for an increase in 2014. The water rate is <br />proposed to increase by a dime in 2014, which will add about $8 a year to the average <br />bill based on 20,000 gallons per quarter. The sewer rate is proposed to increase by 5% <br />in 2014, which will add $13 a year to the average residential bill. Future increases will <br />need to be considered until both funds stabilize. The need for an increase is generated <br />by significant capital expenses during 2012 for the water fund (water tower maintenance <br />and facility maintenance) and significant increases in disposal charges by Metropolitan <br />Council Environmental Services for the current and previous years that we are still <br />catching up on. <br />Five Year Financial Plan Adoption: <br />The Five Year Plan is a blueprint for future years and is only one possible scenario. It is <br />intended to be changed as priorities change and more current information becomes <br />available. Staff welcomes Council comments and direction on any desired changes. <br />Respectfully Submitted, <br />J-- <br />L�-9 <br />~ <br />Mark Beer <br />