2011-07-26_PWETC_AgendaPacket - Laserfiche WebLink

Home

Page 2 of 35 36 The Partial Recommendation 7 Tav-Supported Capital Needs. The tax-supported capital areas (other than Fire Station or Parks 39 and Pathways needs) are Vehicles, Equipment, and Facilities. Vehicles represent City `rolling 40 stock,," from police squad cars to fire trucks to snow plows to utility pick-up trucks. Equipment 41 represents such things as firefighter turn-out gear,police firearms, office furnishings, and the 42 like. Facilities capital needs generally do not include whole buildings, but rather major building 43 systems, such as roof replacements or heating and air conditioning systems. These capital items 44 are the "nuts and bolts' of doing City business on the tax-supported side of the ledger. 45 46 Over 16 million 57% of the 8 million in general Vehicle, Equipment, and Facility needs is 47 un-funded using current funding levels and projectcd costs over the next 20 years. 48 49 The subcommittee recommends a long-term solution for Vehicles, Equipment, and Facilities that o is a combination of shifting funding from operational costs to capital costs, adding revenues, and 1 transferrmg existing funds. This recommended solution addresses 100% of the 16 million 52 shortfall over the next 20 years, and leaves the associated fund balances and annual funding at 53 sustainable levels beyond that time. 54 55 The first part of the recommendation is to shift approximately$300,000 (about 2.0% of the 56 current $14.7 million levy) from current operating budget funding to capital funding in 2012, and 57 to maintain that shift permanently going forward. Approximately$115,000 of that amount 58 would annually be dedicated to Vehicle funding, approximately $115,000 to Equipment funding, 59 and the remaining approximately$70,000 would be dedicated to Facility funding. 60 61 The second part of the recommendation is to i