Vehicle Equipment Replacement Fund

Fiscal Year 2022 – 2023 Budget

The Vehicle Equipment Replacement Fund (VERF) operates under the principle that the funds are collected and segregated, over a period of time, to cover the replacement cost of existing vehicles and equipment.

VEHICLE EQUIPMENT REPLACEMENT FUND SUMMARY

Actual Amended Budget Estimated Budget Adopted Budget Planning Years

2020 - 2021 2021 - 2022 2021 - 2022 2022 - 2023 2023 - 2024 2024 - 2025 2025 -2026 2026 - 2027

BEGINNING FUND BALANCE $3,760,866 $4,423,393 $4,423,393 $3,104,689 $3,852,491 $5,035,724 $4,674,707 $4,886,297

REVENUES

Intergovernmental Transfers $1,309,084 $1,430,671 $1,430,671 $2,973,504 $2,501,171 $2,587,133 $2,581,795 $2,566,249 Interest Earnings 27,545 $30,000 24,414 30,000 30,000 30,000 30,000 30,000 Auction/Insurance Proceeds 679,109 - 102,183 450,000 - - - -

TOTAL REVENUES 2,015,738 1,460,671 1,557,268 3,453,504 2,531,171 2,617,133 2,611,795 2,596,249

TOTAL FUNDS AVAILABLE $5,776,604 $5,884,064 $5,980,660 $6,558,193 $6,383,662 $7,652,857 $7,286,501 $7,482,547

EXPENDITURES

Contractural Services $- $25,000 $25,000 $30,000 $34,320 $38,640 $42,960 $47,280 Capital Expenditures 1,353,212 3,068,688 2,850,971 2,675,702 1,313,618 2,939,510 2,357,244 2,438,030

TOTAL EXPENDITURES $1,353,212 $3,093,688 $2,875,971 $2,705,702 $1,347,938 $2,978,150 $2,400,204 $2,485,310

ENDING FUND BALANCE $4,423,393 $2,790,376 $3,104,689 $3,852,491 $5,035,724 $4,674,707 $4,886,297 $4,997,237