Page 27 - Southlake FY24 Budget

Vehicle
Replacement Fund
Vehicle Replacement Fund
Expenditure Highlights
The Vehicle Replacement Fund
accounts for the resources needed to
manage the purchase of vehicles and Equipment
heavy equipment for the City’s fleet. Item Expenditure Transmittal Letter

Fleet replacement per
Revenue and transfer highlights. schedule $5,496,401*
For FY 2024, we are estimating
revenue of $285,000 and a transfer
of $1,500,000 from the General Fund *Includes FY 2022 and FY 2023 vehicles that have not been received due to
to the Vehicle Replacement Fund supply chain issues and have been re-budgeted.

Expenditure highlights. Expenditures
are estimated at $5,496,401 to
replace aging vehicles and heavy
equipment coming off-line. NOTE:
Supply chain issues have affected
the city’s ability to acquire vehicles
on a timely schedule. As such, many
vehicles slated for replacement
during recent fiscal years have not
been received. Funds have been
re-budgeted as needed to ensure
availability of dollars as we are able to
receive the vehicles.

Fund balance: The projected ending
fund balance is $6,931,956 which
provides adequate reserves for the
program.

Southlake Sustainability Master Plan

“The Vehicle
EFW3: Fund and
adopt annual City Replacement The FY 2024 budget
operating budget, Fund should includes a transfer
capital projects and maintain three from the General
equipment through years of reserves Fund of $1,500,000
sound financial as identified in towards this goal.
policies. replacement
schedule.”

FY 2024 City of Southlake | Budget Book 27