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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, and 2012 but is systematically increased starting in 2013. <br /> <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, 2013 <br />thru 2017. <br /> <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. The water and sewer rates <br />should be considered for an increase in 2013. The water rate is proposed to increase by <br />a dime in 2013, which will add about $8 a year to the average bill based on 20,000 <br />gallons per quarter. The sewer rate is proposed to increase by 4% in 2013, which will <br />add $10 a year to the average residential bill. Future increases will need to be <br />considered until both funds stabilize. The need for an increase is generated by <br />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 in previous years that we are still catching up on. <br /> <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 /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Mark Beer <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />