Page 225 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 5 Internal Service Funds
Utility Vehicle Maintenance & Replacement

The Utility Fund Vehicle Maintenance & Replacement Fund ( VMR) was created to provide a
mechanism for the long-term repair and replacement of Town Utility Fund vehicles.

This fund receives planned revenue transfers from each operating fund that owns and maintains
vehicles. Accumulated funds are intended to cover the cost of future vehicle repair and
replacement. The VMR is designed to avoid future bond programs and encourage a more
conservative pattern of spending that minimizes reliance on elastic revenue streams.

Vehicles are designated for replacement based on a long-range depreciation schedule, periodic
evaluations of repair versus replacement costs, and recommended replacement guidelines.
Routine scheduled maintenance is also factored into VMR funding calculations.

Revenues and Other Sources
Revenues and other sources are budgeted at $10,350
This represents a 57% increase of $3,750 from the prior year estimated.
o Transfers in from the Utility Fund are budgeted to increase $ 3,750.

Expenditures and Other Uses
There are no expenditures budgeted for this fiscal year.

Fund Balance
Excess revenues over(under) expenditures are budgeted to be $10,350.
The beginning fund balance is projected to be $23,674.
The ending fund balance is projected to be $34,024.

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