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0 The City will establish a Building Capital Maintenance Fund, and will appropriate funds to it <br /> annually to provide for timely maintenance of all buildings supported by general governmental <br /> funding. Only maintenance which meets the capitalization threshold shall be paid for out of this <br /> fund. Maintenance includes major items such as roof repair and HVAC replacement. <br /> 0 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 annual MSA <br /> capital allocation,will be included as a part of the source of funds for computing the adequacy of <br /> this fund. This fund has been formally categorized by the Council as a permanent fund, whereby <br /> the interest proceeds are only used for the stated purpose. The cash reserve amount should remain <br /> between $8-12 million. <br /> 0 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 /> proportion of useful life expired multiplied by estimated replacement cost for all park system <br /> assets. <br /> 0 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 /> D From time to time the City Council shall establish additional replacement funds as the need <br /> becomes apparent. <br /> D 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 analysis <br /> will be to gauge the health and sustainability of City reserves related to capital investments for <br /> the short(1-3 year), medium(4-9 years), and long term(10+years). It will also take into account <br /> related borrowing and repayment costs. <br /> D Capital Replacements should be considered using the following priority rankings (in order): <br /> 1. Projects necessarypublic health and safety, or to meet legal mandates. <br /> 2. Projects that responsibly maintain existing assets to either extend remaining service life <br /> or to create efficiency. <br /> 3. Projects that expand existing assets or services in order to benefit the Public Good. <br /> 4. Projects that purchase new assets or services in order to benefit the Public Good. <br /> Definitions <br /> Capital assets—Assets which cost $5,000 or more and have a useful life of two or more years. <br /> Page 8 of 15 <br />