Laserfiche WebLink
INTRODUCTION AND PURPOSE <br />BACKGROUND <br />The Equipment Replacement Plan is a ten year forecast of equipment replacements in the <br />City of Elk River. It is intended to inform and plan for the equipment needs in the next <br />ten years, with a primary focus on the next five years to align with our capital <br />improvement plan (CIP). The first year of the plan becomes an adopted equipment <br />budget and will be funded out of the equipment replacement fund. The remaining nine <br />years represent an estimate of equipment needs and funding capabilities of the City and <br />are adjusted accordingly. Funding requirements vary from year to year. In order to <br />maintain a fairly consistent levy, the ten year plan is projected with a 3% inflation factor. <br />The cash flow requirements to fund the equipment needs in the equipment fund will <br />experience some ups and downs over the next ten years given the projected equipment <br />needs and a 3% inflation rate. <br />The goal for the equipment plan is to reevaluate at least annually the requested or needed <br />equipment and maintain financial viability of the equipment fund over the long-term. <br />Highlights of the 2011 proposed purchases: <br />Police: Three marked squad cars <br />Two unmarked squad cars <br />Parks: Two mowers <br />Streets: Patching Unit <br />