Equipment Replacement Fund

The City’s fleet consists of 650 vehicles and pieces of equipment, 462 of which are replaced using this fund. The other 188 are Utilities, Fire apparatus and Social Services vehicles replaced by other means. The Equipment Replacement Fund is targeted at reducing the operating costs of the City’s fleet through preventive maintenance programs, selection of fuel efficient and alternatively fueled vehicles, and a scheduled replacement program. It has three major objectives:

• To objectively evaluate equipment purchases from an economic perspective (maintenance and operating costs versus capitalization of new vehicles).

• To stabilize the fluctuations in the annual budget due to equipment and vehicle purchases.

• To function as a major component in the City's comprehensive fleet management program. This program includes an annual evaluation of the replacement needs of the City's fleet by the Fleet Advisory Committee and the annual budgeting of the funds necessary to accomplish this replacement.