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