Page 273 - CityofMansfieldFY25Budget

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 2024-2025, the General Fund will transfer $2,819,417 for vehicles, equipment, and facility
improvements. The City will issue $1,785,000 for an ambulance and fire truck. City Council approved
funding for these items during budget work sessions.

Due to the lingering effects of supply chain shortages resulting from COVID-19, some departments have
not received their capital equipment approved in the prior fiscal year. The funding is encumbered,
therefore, prior year funding of $1,289,857 was carried forward in the FY 2024-2025 budget.

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 FY 2023-2024, auction proceeds
totaling $64,840 were deposited back into the Equipment Replacement Fund.

A complete list of equipment to be purchased in FY 2024-2025 is provided on the following pages.

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