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  Item #   4. A. 1.    
City Council
Meeting Date: 03/11/2019  
Submitted For: Warren Porter Submitted By: Nagesh Chopra, Finance

Information
Item
Approval of Supplemental Appropriation for the Fleet Management Fund; $1,820,000.
Background
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.
Time Frame
Upon approval.
Issue
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.
Recommendations
Staff recommends approval.
Action Needed
Motion to approve.
Public Notification
Posted Edmond City Council agenda.

Fiscal Impact
Funding/Cost: $1,820,000
Budgeted Item Y/N or N/A: N
Account:
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)
Attachments
No file(s) attached.

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