Page 107 - CityofKennedaleFY25AdoptedBudget

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 the 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 FY23 Actual FY24 Budget FY24 Projected FY25 Budget
05-4401-00-00 INVESTMENT INCOME 1,289 2,400.00 -
05-4409-00-00 MISCELLANEOUS INCOME 89,820 25,000.00 15,020 15,000
05-4886-00-00 SALE OF PARTS/ASSETS 17,779 250.00 1,000 -
TOTAL REVENUES $ 108,888 $ 27,650 $ 16,020 $ 15,000
Account Description FY23 Actual FY24 Budget FY24 Projected FY25 Budget
05-5601-01-00 ENTERPRISE LEASE POLICE 82,608 52,359 52,359 52,539.00
05-5602-01-00 ENTERPRISE LEASE STREETS 16,759 17,868 7,234 7,234.00
05-5603-01-00 ENTERPRISE LEASE SENIOR CENTER 3,722 - - -
05-5604-01-00 ENTERPRISE LEASE FIRE 13,896 14,126 11,000 11,000.00
05-5605-01-00 ENTERPRISE LEASE COMMDEV 4,698 5,497 5,497 5,497.00
05-5606-01-00 LEASE PRINCIPAL - 7,253 - -
05-5608-01-00 ENTERPRISE LEASE CITY MNGR 7,270 - 3,398 3,398.00
05-5636-01-00 LEASE INTEREST - - - -
05-5861-01-00 MOTOR VEHICLES - - -
05-5910-01-00 VEHICLES-POLICE 113,207 - - -
05-5870-01-00 OTHER EQUIPMENT - - -
TOTAL EXPENDITURES $ 242,160 $ 97,103 $ 79,488 $ 79,668

REVENUES OVER (UNDER) EXPENDITURES $ (133,271) $ (69,453) $ (63,468) $ (64,668)

Account Description FY23 Actual FY24 Budget FY24 Projected FY25 Budget
05-4906-00-00 TRANSFER IN-GENERAL 233,207 120,000 120,000 139,200
05-4917-00-00 TRANSFER IN-STREET FUND 19,200 19,200 19,200
TOTAL OTHER FINANCING SOURCES (USES) $ 252,407 $ 139,200 $ 139,200 $ 139,200

NET CHANGE IN FUND BALANCE $ 119,136 $ 69,747 $ 75,732 $ 74,532
BEGINNING FUND BALANCE — OCT 1 $ (338,981) $ (219,845) $ (219,845) $ (144,113)

ENDING FUND BALANCE — SEPT 30 $ (219,845) $ (150,098) $ (144,113) $ (69,581)

CITYOFKENNEDALE.COM/BUDGET 107