Page 255 - CityofSouthlakeFY25AdoptedBudget

Vehicle Replacement Fund

This fund accounts for the resources needed to manage the purchase of
DID YOU vehicles for the City’s fleet. The establishment and funding of the vehicle
replacement program was designed to even out expenses for the City’s fleet
KNOW?
DID YOU
KNOW? from year to year and provide a logical method for purchasing and retiring
vehicles.
VEHICLE REPLACEMENT
2025 Proposed and 2024 Revised Budget Vehicle Replacement Fund

$ Increase/ $ Increase/
2023 2024 2024 (Decrease) % Increase/ 2025 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Miscellaneous $0 $60,000 $15,000 ($45,000) -75.0% $60,000 $0 0.0%
Interest Income $448,475 $225,000 $360,000 $135,000 60.0% $360,000 $135,000 60.0%
Total Revenues $448,475 $285,000 $375,000 $90,000 $420,000 $135,000

EXPENDITURES
Capital $2,113,772 $5,496,401 $2,352,384 (3,144,017) -57.2% $6,869,876 1,373,475 25.0%
Total Expenditures $2,113,772 $5,496,401 $2,352,384 ($3,144,017) -57.2% $6,869,876 $1,373,475 25.0%

Net Revenues ($1,665,297) ($5,211,401) ($1,977,384) $3,234,017 ($6,449,876) ($1,238,475)

Transfers In-General Fund $3,200,000 1,500,000 2,500,000 1,000,000 3,000,000 $1,500,000
Transfers Out -Debt Service 0 0 0 0 0 $0
Total Other Sources (Uses) $3,200,000 $1,500,000 $2,500,000 $0 $3,000,000 $0

Beginning Fund Balance $8,639,145 $10,173,848 $10,173,848 $10,696,464

Ending Fund Balance $10,173,848 $6,462,447 $10,696,464 $7,246,588

FY 2025 Highlights

- A five-year purchase plan has been developed to detail future capital investment needs related to
vehicles and heavy equipment. For FY 2025, we are planning a transfer from the General Fund to the
Vehicle Replacement Fund of $3,000,000.

- Expenditures are estimated at $6,869,876 to replace aging vehicles coming off-line.

- The projected ending fund balance is $7,246,588, which provides adequate reserves for the program.

- Between FY 2025 and FY 2029, more than 114 vehicles and heavy machinery at an estimated cost of
more than $18.1 million are planned to be replaced in accordance with the vehicle replacement schedule.
The vehicle replacement schedule may vary due to maintenance or exceeding the useful life. Vehicles
included in the vehicle replacement plan include: fire trucks, police cars and motorcycles, and other heavy
equipment.

FY 2025 City of Southlake | Budget Book 255