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4. A. 1.
Nagesh Chopra, Finance
Approval of Supplemental Appropriation for the Fleet Management Fund; $1,820,000.
All departments pay a “lease fund” into the Fleet Management Fund to be able to purchase vehicles over a depreciated life cycle. It appears that somewhere in the budgeting process this year, we dropped a number in the budgeting process and under budgeted the replacement of vehicles. Additionally, we had a damaged transit bus that required replacement that was not originally budgeted. There are adequate reserves to cover the needed budget authority.
Supplemental appropriation is needed to meet the requirement for Fleet Management Reserves to be utilize to complete the anticipated vehicle replacement cycle for FY 19.
Staff recommends approval.
Motion to approve.
Posted Edmond City Council agenda.
Budgeted Item Y/N or N/A:
Fleet Fund Management Reserves
To: Motor Vehicles 653022-8414 $1,820,000
(The Funding Cost of $1,820,000 is the amended budget from $1,173,951)
No file(s) attached.
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