Article 8. Municipal Reserve Equipment Fund

1-801. Equipment fund established.

In accordance with K.S.A. 12-1,117, there is hereby established a municipal equipment reserve fund, which shall be used by the city to finance the acquisition of equipment necessary for the performance of all functions of the city. For the purpose of this article, the word equipment shall mean machinery, vehicles, field equipment and other equipment or personal property including, but not limited to, computer hardware and software which is for municipal purposes and has an estimated acquisition cost or replacement cost in excess of $1,500 and a useful life of not less than three years.

(Ord. 846, Sec. 1)

1-802. Policy objective.

The equipment reserve fund shall be used as a financing mechanism to secure the planned and orderly acquisition and replacement of equipment necessary for the efficient and effective operation of the city. The governing body will annually approve an allocation of current revenues in that year’s budget sufficient to (a) finance the acquisition of new equipment in the following year, and (b) finance anticipated future equipment acquisitions and replacements by setting aside an annual reserve amount.

(Ord. 846, Sec. 2)

1-803. Plan of operation.

(a) The city clerk, or other individual designated by the city administrator, shall prepare a plan of operation for the implementation of this article and for the achievement of the policy objectives of the governing body.

(b) In the year 1992, the city clerk, or other individual designated by the city administrator shall include in the proposed budget for 1993 an amount sufficient to cover necessary 1993 equipment acquisition costs.

(c) Beginning in 1993, and annually thereafter, the city clerk, or other individual designated by the city administrator, shall submit, concurrent with the proposed annual budget, a proposed equipment acquisition program for each of the following three years. The proposed budget shall include an amount sufficient to finance proposed equipment acquisitions for the following year, plus an amount to be reserved as set forth in the annually revised and extended equipment acquisition program.

(Ord. 846, Sec. 3)