Agenda Item Wording:
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Authorize the transfer of $4,500,000 from the General Fund to the Vehicle Replacement Fund, $475,000 from the Police Measure T fund to the Police Measure T Vehicle Replacement Fund, and $1,480,000 from the Fire Measure T Fund to the Fire Measure T Vehicle Replacement Fund to replace future vehicles.
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Deadline for Action: 11/6/2023
Submitting Department: Finance and Technology Services
Contact Name and Phone Number:
Renee Nagel, 559-713-4375, renee.nagel@visalia.city
Department Recommendation:
That Council authorize the transfer of $4,500,000 from the General Fund to the Vehicle Replacement Fund, $475,000 from the Police Measure T fund to the Police Measure T Vehicle Replacement Fund, and $1,480,000 from the Fire Measure T Fund to the Fire Measure T Vehicle Replacement Fund to replace future vehicles. Staff is requesting that this approval be retroactive to June 30,2023 to be included in FY 22/23.
Background Discussion:
The City of Visalia owns and maintains 648 vehicles and pieces of equipment (hereafter referred to as the "Fleet") that are utilized throughout the City. This fleet is owned by a variety of City funds and was purchased from various funding sources. All vehicles and equipment are tracked and replaced by the fund that originally purchased them. Enterprise Funds typically have their rates and fees set to cover operating and capital costs which also includes fleet replacements. The General Fund, which is a Governmental Fund, is required to have revenue cover expenses annually. Any left-over remaining funds are then designated to specific projects or purposes such as the Emergency Reserve and the Civic Center Reserve. To ensure that the General Fund has money to replace the fleet, City Council approved a Replacement Fund many years ago. This fund has allowed the General Fund divisions to be able to replace the fleet as needed and not defer replacement based on funds available. ...
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