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capital allocation, will be included as a part of the source of funds for computing the adequacy <br />. of this fund. This fund has been formally categorized by the Council as a permanent fund, <br />. whereby the interest proceeds are only used for the stated purpose. The cash reserve amount <br />= should remain between $8-12 million. <br />.. ❖ The City shall establish a Park Capital Maintenance Fund to provide for the general replacement <br />� of parks and related infrastructure throughout the community. The funding should equal the <br />G proportion of useful life expired multiplied by estimated replacement cost for all park system <br />� assets. <br />:�- ❖ Within each enterprise fund, the City shall establish a funding mechanism to provide for the <br />� general replacement of related infrastructure throughout the community. The funding should <br />�� equal the proportion of useful life expired multiplied by estimated replacement cost for all <br />�� � enterprise fund system assets. <br />�_ ❖ From time to time the City Council shall establish additional replacement funds as the need <br />� � becomes apparent. <br />_. �:• The Finance Commission will annually oversee and report to the City Council a review and <br />: analysis of planned capital investments and related reserve balances. The purpose of such <br />., � analysis will be to gauge the health and sustainability of City reserves related to capital <br />����� ��. investments for the short (1-3 year), medium (4-9 years), and long term (10+ years). It will also <br />take into account related borrowing and repayment costs. <br />Page 16 of 19 <br />