Page 29 - Southlake FY22 Budget

TrAnSMITTAL LETTEr

vehiCle rePlaCemenT fund vehiCle rePlaCemenT fund

exPendiTure highlighTs
The Vehicle Replacement Fund accounts for the
resources needed to manage the purchase of highlighT iTem exPendiTure
vehicles and heavy equipment for the City’s fleet.
The establishment and funding of the vehicle Equipment Fleet replacement $2,077,000
and heavy equipment replacement program was per schedule
designed to even out expenses for the City’s fleet
from year-to-year and provides a logical method for purchasing
and retiring vehicles. A five-year purchase plan has been sOuThlake 2030
developed to detail future capital investment needs.
susTainaBiliTy
Revenue and transfer highlights. For FY 2022, we are planning masTer Plan
revenue of $118,000 and a transfer of $1,500,000 from the
General Fund to the Vehicle Replacement Fund.

EFW3: Fund and adopt annual City
Expenditure highlights. Expenditures are estimated at operating budget, capital projects and
$2,077,000 to replace aging vehicles and heavy equipment equipment through sound financial
coming off-line.
policies.

Fund balance. The projected ending fund balance is $5,841,763
which provides adequate reserves for the program. “The Vehicle Replacment Fund should
maintain three years of reserves as
identified in replacement schedule.”

The FY 2022 Budget proposes a transfer
from the General Fund of $1,500,000
towards this goal.

28 FY 2022 City of Southlake | BUDGET BOOK
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