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INTRODUCTION AND PURPOSE <br />BACKGROUND <br />The Equipment Replacement Plan is a ten yeaz 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 yeazs, with a primary focus on the next five yeazs to align with our capital <br />improvement plan (CIP). The first yeaz of the plan becomes an adopted equipment <br />budget and will be funded out of the equipment replacement fund. The remaining nine <br />yeazs represent an estimate of equipment needs and funding capabilities of the City and <br />aze adjusted accordingly. Funding requirements vazy from yeaz to yeaz. In order to <br />maintain a fairly consistent levy, the ten yeaz 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 mazked squad cazs <br />Two unmazked squad cazs <br />Parks: Two mowers <br />Streets:. Patching Unit <br />