Laserfiche WebLink
IUVINLVI <br />To: Dean Lotter, City Manager <br />Mayor & City Councilmembers <br />From: Dan Maiers, Finance DirectorAA-__D <br />ate: May 22, 2009 <br />Re: Policy Discussion Relating to Fleet & Non -Fleet Replacement Programs <br />The current financing for the Fleet and Non -Fleet Replacement programs is inadequate. <br />Basically, the last few annual budgets have provided for annual installment increases of <br />3%. This does not resolve the problem. <br />Attached are two schedules for both the Fleet and Non -Fleet programs: 1) a schedule of <br />all items in the replacement program sorted by department demonstrating the projected <br />status as of year 2020 assuming no change is made to the financing; and 2) a schedule <br />showing the impacts on the 2010 and future years' projected installments to resolve the <br />shortfalls by year 2020. <br />I am planning to review these schedules with the City Council at their May 26`h <br />worksession. Obviously there are innumerable ways to present this data and to model <br />various solutions. The current model projects out to the year 2020. Many assumptions <br />need to be made in projections such as this. The attached schedules do not attempt to <br />define an exact solution, but instead to demonstrate the size of the deficits projected to be <br />incurred without long-term, proactive solutions. <br />