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Chart 5 - This simple spreadsheet illustrates the total projected cost for the fleet, <br />non-fleet and pavement management and the total funding sources. This chart illustrates <br />that continuing the annual installments and adding supplemental funding sources (FBTS, <br />PSC Debt, Equipment Certificates, and MSA money) will ultimately close the funding <br />gap. <br />Chart 6 - This spreadsheet provides a quick snapshot of the tax levy impacts of <br />this plan. These levies assume that the operating budget and the other variables affecting <br />the tax levy remain constant. <br />Fleet, Non-Fleet and Pavement Management Replacements on Hold <br />The current status of replacements remains as Council directed. Council directed staff to <br />hold off on spending money on any replacement items in the Fleet, Non-Fleet and <br />Pavement Management budgets. Some of these items are as follows: squad cars, public <br />works vehicles, carpet in a neighborhood center, etc. Staff requests Council allow these <br />items to be brought forward for Council consideration and approved. <br />Conclusion <br />The City has a rare opportunity to commit to a policy that will provide appropriate <br />funding to the fleet, non-fleet and pavement management budgets. Staff believes that this <br />plan is in the best long-term financial interests of the City. Failure to plan for the future <br />replacement of assets will be a plan for failure. Each year the staff and council will <br />review the status of the plan and make adjustments to the plan as financial circumstances <br />dictate. No plan can foresee all issues or problems; the first step is to have a plan. <br />Recommendation <br />There are many moving parts to this year's budget. As stated before, however, the <br />Council is in a position to make real progress towards assembling a plan for Fleet, Non- <br />Fleet and Pavement Management that the City has not had before. In light of this <br />information, I recommend the following actions be taken: <br />1. Direct staff to research or answer any issues that may surface during the worksession <br />discussion. <br />2. If there are no major questions or outstanding issues, direct staff to prepare resolutions <br />of preliminary adoption for the budget and tax levy. <br />3. Direct staff to draft a resolution for the City Council to formally adopt the Fleet, Non- <br />Fleet and Pavement Management plan as presented.