PRESENTER: Presenter
Karrie Cook, Budget Manager
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SUBJECT: Title
Approval of a budget amendment for the FY 2026 Equipment Replacement Fund.
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DEPARTMENT: Finance
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
The Equipment Replacement Fund (ERF) supports the replacement and maintenance of General Fund assets, including light vehicles, computer equipment, software systems, and other capital needs. The fund is financed through insurance reimbursements for City vehicle and equipment repairs, interest earnings, and interfund transfer contributions from the General Fund.
The FY 2026 Adopted Budget included $990,000 in appropriations for ERF operating and capital expenditures. However, additional budget authority is required due to higher-than-anticipated vehicle repair costs and a City Council-approved contractual increase to support the City’s transition to the Workday software platform.
Budget Amendment:
Operating Expenditures: Increase $310,000
ISSUE:
N/A
FISCAL IMPACT:
There are sufficient funds in the Equipment Replacement Fund to support this amendment.
Recommendation
RECOMMENDATION:
Staff recommends the approval of this budget amendment.