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Attachment A <br />Last Updated Î 5/6/2019 <br />Revised - 7/12/2022 <br />investments for the short (1-3 year), medium (4-9 years), and long term (10+ years). It will <br />also take into account related borrowing and repayment costs. <br /> Capital Replacements should be considered using the following priority guidelines (in <br />order): <br />1) Projects necessary for the publicÓs health and safety, or to meet legal mandates. <br />2) Projects that responsibly preserve or replace existing assets to either extend <br />remaining service life or to create efficiency. <br />3) Projects that expand existing assets or services in order to benefit the Public <br />Good. <br />4) Projects that purchase new assets or services in order to benefit the Public Good. <br /> Higher-cost capital asset additions or replacement of existing assets that feature substantial <br />changes from their original size, functionality, or purpose should be considered using the <br />guidelines included in Exhibit A. For these same assets, a fiscal look-back exercise should <br />also be utilized using the guidelines included in Exhibit B. as separate Council actions <br />with detailed fiscal analysis. <br />Definitions <br />Capital assets Î Assets which cost $5,000 $10,000 or more and have a useful life of two or <br />more years. <br />Capital Improvement Plan Î A comprehensive 20 year outlook itemizing all capital assets and <br />their replacement funding requirements. The plan will take into account useful asset lives and <br />salvage values. <br />Replacement CostÎ In todayÓs dollars, the cost to replace the asset. If it is expected the retired <br />asset will have a salvage value, the estimated salvage value should be deducted from the <br />expected replacement cost. <br />Asset Life Î The number of years which is the asset is in use, also known as the useful life of <br />a capital asset. <br />Bonding Î The amount of debt incurred to obtain capital assets. <br /> <br />Capital Asset Maintenance Î Expenditures which protect the CityÓs investment in capital assets <br />and provide for ongoing upkeep. <br /> <br />Equipment Î A tangible capital asset which does not qualify as a vehicle, building, street, or <br />park asset. Examples are mowers, tools, etc. <br /> <br />Page 3 of 8 <br /> <br />