Page 257 - City of Westlake FY20 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 $16,940
• This represents a 42% increase of $5,000 from the prior year estimated.
o Transfers in from the Utility Fund are budgeted to remain flat at $10,000
o Transfers in from General Fund increased 100% to increase $5,000

Expenditures and Other Uses
• Expenditures and other uses are budgeted at $50,000
• This represents a 100% increase of $50,000 from the prior year estimated.
o The purchase of a new Utility truck is budgeted at $50,000 for FY19/20.

Fund Balance
• Excess revenues over(under) expenditures are budgeted to be ($33,060)
• The beginning fund balance is projected to be $35,699
• The ending fund balance is projected to be $2,639

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