Laserfiche WebLink
TO: Mayor & Council <br />4 FROM: Finance Director -Treasurer Brager 7 <br />DATE: March 1, 1989 <br />RE: VEHICLE & EQUIPMENT REPLACEMENT FUND <br />The Adopted 1989 Budget established a vehicle and equipment <br />replacement program. As you may recall all vehicles and <br />equipment were inventoried and their expected useful lives <br />determined. Then the amount necessary to set aside each year <br />in order to have funds on hand to replace each vehicle or <br />piece of equipment after its useful life expired was <br />calculated. First year amounts were included in the 1989 <br />Budget. Establishment of a vehicle and equipment replacement <br />fund was envisioned during the 1989 Budget process. Monies <br />budgeted anr-ially tor vehicles would be revenues of the fund <br />and expenditures would be replacement of vehicles and <br />equipment. A proposed resolution is attached for your <br />consideration. <br />In 1988 Council authorized purchase of snow plowing equipment <br />that is budgeted for 1989. Staff did not request that this <br />equipment be paid for from the Vehicle & Equipment Replacement <br />Fund. As a consequence, 1988 General Fund Capital <br />Ex a m �rngaiy over budget. Staff requests a <br />Council motion authorizing these items be paid from the <br />Vehicle and Equipment Replacement Fund. <br />RECOMMENDATION: 1) Consider adopting Resolution No. 2460, <br />A Resolution Establishing a Vehicle & Equip- <br />ment Replacement Fund. <br />DB/ds <br />Attachment <br />R <br />2) Consider adopting a motion that the 1989 <br />Ford LSOO dump truck with plow and the 1988 <br />Caterpiller 936E front end loader, whose <br />purchase was previously authorized, be paid <br />from the Vehicla & Equipment Replacement <br />Fund. <br />