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Attachment E 168 Investment in Infrastructure 169 Police Vehicle Equipment Fund ($200,000 of new tax levy) 170 As part of building tax levy support to pay for the addition of 6 firefighters funded by the SAFER 171 grant in 2021, $200,000 of new tax levy support was included in the 2022 budget and directed to 172 the Police Vehicle and Equipment Fund to stabilize the long-term funding for identified capital 173 needs for the Police Department. In continuation of that plan, an additional $200,000 of new tax 174 levy for the Police Vehicle and Equipment Fund is being included in the 2023 budget. As a result, 175 the Police Vehicle and Equipment Fund will have sufficient funding through 2035. Starting in 176 2024, the $400,000 of levy support going into the Police Vehicle and Equipment Fund will be 177 transferred to the operating budget to pay for the 6 grant-funded firefighters. 178 179 Admin Equipment Fund ($10,000 of new tax levy) 180 A small adjustment with the addition of $10,000 of new tax levy to the Administration Equipment 181 Fund is included in the 2023 budget. This addition will provide sufficient funding for the fund for 182 the next 20 years. 183 184 Finance Equipment Fund ($10,000 of new tax levy) 185 A small adjustment with the addition of $10,000 of new tax levy to the Finance Equipment Fund 186 is included in the 2023 budget. As the deficit is small and the fund’s capital needs are not great, 187 beyond the need for new financial software every 10-15 years, staff finds it acceptable tohave the 188 fund in a deficit in the near term. With the addition of $10,000 of tax levy, the Finance Equipment 189 Fund will have a positive balance by 2029. 190 191 IT Fund (Reduction of $100,000 of the existing tax levy) 192 An analysis of the IT Fund demonstrated that the tax levy support can be reduced by $100,000 in 193 order to offset other needed tax levy increases. Even with this reduction, there will be sufficient 194 balances to pay for the planned capital expenditures for the next 20 years. 195 196 Central Services Fund (Reduction of $10,000 of the existing tax levy) 197 An analysis of the Central Services Fund demonstrated that the tax levy support can be reduced by 198 $10,000 in order to offset other needed tax levy increases. Even with this reduction, there will be 199 sufficient balances to pay for the planned capital expenditures for the next 20 years. 200 201 Total new levy costs for investing in city capital infrastructure funds in City Manager’s proposed 202 2023budget: 203 Investment in Infrastructure New Tax Levy Support Capital Improvement Program Funds Police Vehicle Equipment Fund $ 200,000 Admin Equipment Fund $ 10,000 Finance Equipment Fund $ 10,000 IT Fund $ (100,000) Central Services Fund $ (10,000) Total New Tax Levy Support$ 110,000 204