Page 103 - KennedaleFY24AdoptedBudget

OVERVIEW: CAPITAL REPLACEMENT FUND

The Capital Replacement Fund (05) receives transfers from other funds that utilize vehicles.
The fund pays for vehicles through a lease with Enterprise Lease. In December 2016, a lease
was signed with Enterprise for a majority of its vehicles. In 2020, the City determined that the
lease was not in the best interest and has been working on an exit strategy for the lease that
includes purchasing vehicles and allowing vehicles under the lease to continue to be utilized at
a small cost per month ($30-$50) until full expiration of the lease. Under the terms of the lease,
the vehicles remain the property of Enterprise and cannot be purchased by the City.

Fund 05 CAPITAL REPLACEMENT

Account Description FY22 Actual FY23 Budget FY23 Est Actuals FY24 Budget
05-4401-00-00 INVESTMENT INCOME 606.79 200.00 2,400 2,400
05-4409-00-00 MISCELLANEOUS INCOME 18,975.16 10,000.00 72,000 25,000
05-4886-00-00 SALE OF PARTS/ASSETS - 4,000.00 200 250
TOTAL REVENUES $ 19,582 $ 14,200 $ 74,600 $ 27,650

Account Description FY22 Actual FY23 Budget FY23 Est Actuals FY24 Budget
05-5601-01-00 ENTERPRISE LEASE POLICE 112,100 112,223 89,392 52,359.00
05-5602-01-00 ENTERPRISE LEASE STREETS 27,001 17,868 18,316 17,868.00
05-5603-01-00 ENTERPRISE LEASE SENIOR CENTER 8,987 10,780 3,842 -
05-5604-01-00 ENTERPRISE LEASE FIRE 14,126 14,126 15,027 14,126.00
05-5605-01-00 ENTERPRISE LEASE COMMDEV 4,899 4,899 5,217 5,497.00
05-5608-01-00 ENTERPRISE LEASE CITY MANAGER 3,023 7,256 7,875 7,253.00
05-5861-01-00 MOTOR VEHICLES 422,943 - - -
05-5870-01-00 OTHER EQUIPMENT 86,403 - - -
TOTAL EXPENDITURES $ 679,483 $ 167,153 $ 139,668 $ 97,103

REVENUES OVER (UNDER) EXPENDITURES $ (659,901) $ (152,953) $ (65,068) $ (69,453)
Account Description FY22 Actual FY23 Budget FY23 Est Actuals FY24 Budget

05-4906-00-00 TRANSFER IN-GENERAL 182,521 120,000 120,000 120,000
05-4917-00-00 TRANSFER IN-STREET FUND 37,142 19,200 19,200 19,200
TOTAL OTHER FINANCING SOURCES (USES) $ 219,663 $ 139,200 $ 139,200 $ 139,200

NET CHANGE IN FUND BALANCE $ (440,238) $ (13,753) $ 74,132 $ 69,747
BEGINNING FUND BALANCE — OCT 1 $ 101,257 $ (338,981) $ (338,981) $ (264,849)

ENDING FUND BALANCE — SEPT 30 $ (338,981) $ (352,734) $ (264,849) $ (195,102)

CITYOFKENNEDALE.COM/BUDGET 100