Laserfiche WebLink
Vehicle and Equipment Replacement Plan <br />The schedule has been updated to reflect retirements and new acquisitions. The current <br />amounts transferred to the Vehicle and Equipment Fund from the participating funds is <br />sufficient to maintain replacement levels. <br /> <br />Capital Improvement Program (CIP): <br />The Capital Improvement Program was presented to the City Council at the June 22, 2009 <br />Council meeting. There have been no changes from that version of the plan. This is a list <br />of possible projects the timing and cost will be refined as implementation becomes more <br />eminent. <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, 2010 thru <br />2014. <br /> <br />Utility Rate Studies <br />Utility rate studies are included with mixed results. The street light rate can be maintained <br />at the current level. Future rate increases will depend on the cost of electricity. The water, <br />sanitary sewer, and storm water rates should be considered for an increase in 2010. The <br />City will have to adopt a conservation rate for water rates effective January 1, 2010. The <br />base water rate should increase by a dime in 2010, which will add about $8 a year to the <br />average bill based on 20,000 gallons per quarter. The conservation rate and the <br />consumption steps will also impact annual costs for homeowners and businesses <br />depending on consumption. The sanitary sewer rate should be increased 2% which will <br />add $4.12 per year based on 20,000 gallons per quarter. The storm water rate should be <br />increased by $1.00 per quarter in 2010, which will add $4 a year to the average residential <br />bill. Future increases will need to be considered until the funds stabilize. The need for an <br />increase is generated by significant capital expenses during the 2009 to 2012 time period <br />as noted in the CIP. <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. A public hearing will be held August 10, 2009 for the second reading and <br />adoption of ordinance 824, this will be a roll call vote. Staff welcomes Council comments <br />and direction on any desired changes. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Mark Beer <br /> <br />