2015-08-12 CC Packet - Laserfiche WebLink

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spent down, and is now intended for emergency replacement of unplanned equipment failures. • The truck replacement fund is to replace the production truck. The current truck is fourteen years old. It should be replaced as a part of the HD upgrade of the production track. • The building repair fund is to cover major costs related to the building such as windows, roof, furnace, AC replacement and painting, carpet replacement etc. • The bond reserve is currently closed out, as the building was paid off in 2015. • The franchise renewal fund is a reserve fund for the NMTC's upcoming franchise renewal process. Franchise renewal can be very expensive, with the informal negotiation proms costing approximately $200,000 across a three year period. Moving to a formal negotiation process is more expensive. These costs include needs assessments, consWting, and legal fees. settlement agreement with Comcast, anticipated franchise renewal expenses have been postponed until 2017. Budgeted equipment purchases for 2016 is set at $273,016. The first step in the transition to an HD facilW is the Master Control 4avback and routinj swem. A system has been recommended. The cost of the upgrade will be around $575,000. In anticipation of the need to upgrade to HD, all non-critical capital expenditures for 2015 were suspended, with the intent of use the remaining approved funds for the Master Control upgrade. That money, combined with the budgeted money for 2016, will be enough to pay for the Master Control upgrade without bonding. The upgrade can be scheduled to begin during the fall of 2015, with an anticipated completion of December 2015. Billing cycles would allow us to split the payments between 2015 and 2016. The capital budget also includes routine computer/software upgrades, and software licenses. The capital equipment budget totals $301,016. Franchise fees paid to the cities are budgeted at $320,000. This is the same as last year.