HomeMy WebLinkAbout2.03.002_Fleet Services Capital and Maintenance Reserve Fund PolicyCITY OF ROHNERT PARK
CITY COUNCIL POLICY
SUBJECT/TITLE: POLICY NO: APPROVED BY: APPROVAL DATE:
FLEET SERVICES CAPITAL AND
MAINTENANCE RESERVE FUND
2.03.002 ☒ MINUTE ORDER 5/14/2019
Page 1 of 1
1. PURPOSE
The purpose of this policy is to establish a Fleet Services Capital and Maintenance Reserve
Fund. This policy will guide decisions relating to the scale of the reserve fund and the use of
these funds.
2. POLICY
To set aside sufficient savings to ensure the Fleet Services shop interior capital improvement
and maintenance needs are met, and critical equipment replacements are funded, including
Fleet vehicles, the City establishes the following Fleet Services Capital and Maintenance
Reserve Fund policy:
1. The Fleet Services Capital and Maintenance Reserve Fund balance target is established
at two hundred thousand dollars ($200,000).
2. City may transfer, with appropriations, retained earnings from the Fleet Services Fund
into the Fleet Services Capital and Maintenance Reserve Fund until the target is met.
3. City Manager may authorize transfer of any Fleet Services Fund retained earnings, after
the payment of debt service and on-going capital costs, into the reserve account.
Transfer must be consistent with budget policies and procedures.
4. Allowable uses of Fleet Services Capital and Maintenance Reserve Fund are as follows:
a. Capital improvements and deferred maintenance for the Fleet Services shop
interior and replacement of equipment, including Fleet vehicles, used by Fleet
Services.
5. The Fleet Services Capital and Maintenance Reserve Fund may fluctuate above and
below the two hundred thousand dollars ($200,000) target balance to facilitate the
allowable uses described above.
6. Once the Fleet Services Capital and Maintenance Reserve Fund is fully funded, any
retained earnings not used to pay for operational expenses will be used to reduce future
service charges to Departments.
3. BACKGROUND
The establishment of a policy for Fleet Services Capital and Maintenance Reserve Fund was
identified as a Goal in the Fiscal Year 2017-18 budget.
REVISION HISTORY:
5/14/2019: AMENDED TO INCLUDE FLEET VEHICLES AS AN ALLOWABLE USE OF FUNDS
6/26/2018: APPROVED BY MINUTE ORDER