Page 286 - Manfield FY21 Budget

Multi-Year Summary
Equipment Replacement Fund

Budget Budget Budget Budget Budget Budget
Equipment 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 Total
Prior Year Proceeds
Bond Proceeds 2,264,538 1,214,720 1,500,000 1,750,000 1,500,000 1,500,000 $ 8,229,258

Transfers 882,597 1,535,772 $ 2,418,369
Total $ 3,147,135 $ 2,750,492 $ 1,500,000 $ 1,750,000 $ 1,500,000 $ 1,500,000 $ 10,647,627

Equipment Replacement Budget Budget Budget Budget Budget Budget
Operational Cost 2020-2021 2021-2022 2022-2023 2023-2024 2023-2024 2024-2025 Total
Estimated Repair Savings 7,500 7,688 10,000 12,300 12,608 12,923 63,018
Estimated Fuel Savings 1,350 1,391 1,432 1,475 1,519 1,565 8,732
Total $ 8,850 $ 9,078 $ 11,432 $ 13,775 $ 14,127 $ 14,488 $ 71,750

The Equipment Replacement Fund is funded via a combination of certificates of obligation, expenditure
savings, intergovernmental transfers, and/or sales of fully depreciated vehicles and equipment. Typically,
$800,000-$1,000,000 in new and replacement equipment is funded on an annual basis, although future
years are budgeted at $1,500,000.

In FY 2020-2021, the amount to be funded is $2,750,492. The General Fund will transfer $1,535,772 for
vehicles, equipment, technology enhancements and facility improvements. Repurposed debt will be
issued for the remaining $1,214,720 to purchase a replacement fire engine and a permit software system.

Project Impacts

The primary operational impacts in the Equipment Replacement Fund are related to the reduction in
vehicle and equipment repair costs.

• Public Safety vehicles and equipment – replacement of vehicles and equipment on an annual
basis reduces down time and repair costs and provides Police and Fire the best available resources
to respond to emergencies.
• Repair Savings – reduces down time and enables staff to provide more proactive police patrols;
reduces major fire apparatus down time.
• Auction Proceeds – the sale of city property via online auctions offsets the city’s borrowing costs
by redirecting proceeds for the purchase of new equipment.

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