Established in 2011, the Equipment Fund accounts for the purchase and maintenance of various types of town equipment, including vehicles. Each town department that requires equipment maintenance or new equipment purchases pays a monthly fee deposited into this fund account. The finances of this fund are restricted to recovering the costs associated with purchasing or servicing town equipment.
FY 2022 Changes
- $15,500 Trench Shoring
- $22,500 Radio Backup Purchase
- $45,000 Taser Upgrade
- $150,000 Two New Police Vehicles
- $109,000 New Public Works Trucks
Ending Fund Balance
The ending fund balance for the equipment fund is increasing because the Town is nearing a large replacement cycle with public works. Large purchases are anticipated in the next five years that will draw down on these funds.
The population of the Town of Northlake is rapidly increasing. Causing a corresponding increase in staffing to meet the demand for services.
As Town staffing increase to meet the service demand so too will the expenses of this fund grow to provide equipment for staff.