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Asset Life –The number of years which is the asset is in use, also known as the useful life of a capital <br />asset. <br />Bonding –The amount of debt incurred to obtain capital assets. <br />Capital Asset Maintenance –Expenditures which protect the City’s investment in capital assets and <br />provide for ongoing upkeep. <br />Equipment –A tangible capital asset which does not qualify as a vehicle, building, street, or park asset. <br />Examples are mowers, tools, etc. <br />MSA Capital Allocation –Municipal State Aid is money the City receives from the State to help pay <br />for maintenance of MSA-designated streets. MSA streets are collectoror arterial streets that <br />interconnect to other cities or major thoroughfares. <br />Enterprise Fund –A separate accounting and financial reporting mechanism for municipal services <br />for which is 100% fee supported. Examples are Water, Sewer, and Golf Course. <br />General Governmental Fund –A separate accounting and financial reporting mechanism for spending <br />in which a property tax is generally levied. Examples are police, fire, streets, parks and recreation. <br />Enterprise Fund System Asset –Assets which support enterprise services such as water, sewer, and <br />golf course. <br />Park System Asset –All assets within city parks excluding buildings. Examples would be trails, <br />equipment, and courts. <br />Implementation <br />The City shall use replacement funds to assist in the replacement of equipment, vehicles, and capital <br />building maintenance. New equipment or buildings are to be funded from new dollars, unless they are <br />designated to replace currently owned assets. Funds may be used up to the amount of the replacement <br />funds set aside for that particular asset. Any additional funding shall be from new sources. <br />93 <br /> <br />