Page 278 - CityofMansfieldFY24Budget

Multi-Year Summary
Equipment Replacement Fund

The Equipment Replacement Fund may be funded via a combination of certificates of obligation,
expenditure savings, intergovernmental transfers, and/or sales of fully depreciated vehicles and
equipment. The preferred method for funding new equipment is with cash, as opposed to issuing debt.

In FY 2023-2024, the General Fund will transfer $4,120,577 for vehicles, equipment, technology
enhancements and facility improvements. Funding for these items was approved by City Council during
budget work sessions.

Due to the lingering effects of supply chain shortages resulting from COVID-19, some of the capital
equipment approved in the last two fiscal years has not been received, and therefore, prior year funding of
$2,129,890 was carried forward in the FY 2023-2024 budget year.

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 a rotating,
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. In the last three fiscal years, auction
proceeds totaling $210,498 have been deposited back into the Equipment Replacement Fund.

A complete list of equipment to be purchased in FY 2023-2024 is provided on the following pages.

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