My WebLink
|
Help
|
About
|
Sign Out
Home
2002 Approved Budget
Roseville
>
Budget
>
2002 Approved Budget
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/19/2012 1:16:02 PM
Creation date
6/19/2012 1:10:56 PM
Metadata
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
230
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Replacement Policies <br />PT TRPOSSF <br />The Roseville City Council has set in place a stable funding mechanism for much of the city's <br />infrastructure. The intent of the Council in having Replacement Policies is to provide for easing the <br />burden on both present and future taxpayers and to assure the replacement of the city's infrastructure as it <br />is found necessary and in a manner that is both fiscally and operationally prudent. <br />The primary purpose of this policy is to have specific resources set aside on a periodic basis, to create <br />funding for the major equipment and infrastructure needs of the Community, without encountering major <br />tax increases for maintenance and replacement. <br />It is not the intent of the City Council to fund major new facilities, which have not had the original <br />funding established either through tax increment, general taxes or other such sources. The replacement <br />funds are expected to be only for replacement purposes. (See the Implementation section below) <br />• The City will establish a General Vehicle Replacement Fund and a Fire Vehicle Replacement Fund. <br />The City will appropriate funds to them annually to provide for timely replacement of vehicles. The <br />amount will be maintained at an amount equal to the accumulated depreciation including annual fund <br />interest earnings to provide for vehicle replacement. <br />• The City will establish a General Plant Replacement Fund to provide for non - vehicular equipment <br />replacement; i.e., mowers, tools, etc. Funding should equal the amount of accumulated depreciation <br />recorded on all general governmental equipment including annual fund interest earnings. <br />• The City will establish a Building Replacement Fund, and will appropriate funds to it annually to <br />provide for timely maintenance of all buildings and plants supported by general governmental <br />funding. The funding should equal the amount of accumulated depreciation recorded on all general <br />governmental buildings including annual fund interest earnings. <br />• The City shall establish a Parks and Recreation Infrastructure Maintenance Fund for the maintenance <br />and replacement of specialized recreational facilities such as the skating center and new park shelters <br />which have been constructed from the Recreational Facilities Bond Fund. Funding shall be the <br />annual appropriation of the 5% set out in the tax increment policy as the infrastructure replacement <br />fund. The use of this fund shall be limited to 60% of the annual interest income earned, until the year <br />2004, at which time the fund balance will permit the use to become on the basis of the other <br />replacement funds. i.e. funding should equal the amount of accumulated depreciation recorded on the <br />newly added recreational facilities including annual fund interest earnings. <br />The City shall establish a Street Infrastructure Replacement Fund to provide for the general <br />replacement of streets and related infrastructure throughout the community. The funding should <br />equal the amount of accumulated depreciation recorded on all general governmental streets and <br />related structures including annual fund interest earnings. The annual MSA capital allocation, will be <br />included as part of the source of funds for computing the adequacy of this fund. This Fund has been <br />established as a permanent fund under GASB 34 <br />From time to time the City Council shall establish additional replacement funds as the need and <br />funding ability becomes available. <br />II -17 <br />
The URL can be used to link to this page
Your browser does not support the video tag.