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City of �� rr� � � � ►_� �.. � r � �_ � �. �,�� r- �� NJinr�rs , 4A Capital Replacement Policy Pur�ose The Roseville City Council has set in place a stable funding mechanism for much of the city's infrastructure. The intent of the Council in having Replacement Policies is to provide for easing the burden on both present and future taxpayers and to assure the replacement of the city's infrastructure +�'ti -3 ��•�r' ��•�� °ry��] in a manner that is both fiscally and operationally prudent. The primary purpose of this policy is to have specific resources set aside on a periodic basis, to create funding for the major equipment and infrastructure needs of the community, without encountering major tax increases for maintenance and replacement. It is not the intent of the City Council to fund major new facilities, which have not had the original funding established either through tax increment, general taxes or other such sources. The replacement funds are expected to be only for replacement purposes. (See the Implementation section below) R�licy 4 The City will establish a General Vehicle Replacement Fund and a Fire Vehicle Replacement Fund. The City will appropriate funds to them annually to provide for timely replacement of vehicles. The amount will be maintained at an amount equal to the accumulated depreciation including annual fund interest earnings to provide for vehicle replacement � Comment " Annual funding needs fo� this pu�pose is app�oximately $1 S0, 000 below what it should be ❑ The Citv will establish a General Plant Revlacement Fund to orovide for non-vehicular equipment replacement; i.e., mowers, tools, etc. Funding should equal the amount of accumulated depreciation recorded on all general governmental equipment including annual fund interest earnings � The City will establish a Building Replacement Fund, and will appropriate funds to it annually to provide for timely maintenance of all buildings and plants supported by general governmental funding. The funding should equal the amount of accumulated depreciation recorded on all general governmental buildings including annual fund interest earnings * Comment � the City discontinued an annual app�op�iation in the late 15�90's in favo� of p�oviding funding fo� othe� p�og�ams. This Fund, while still in existence is znsuffacient to pay fo� all of the futu�e �enovation and �eplacementcost of gene�al City facilities