(a)   In accordance with K.S.A. 12-1,117, the city has 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.

(b)   Within the meaning of K.S.A. 12-1,117 and amendments thereto, the city designates and/or ratifies the following funds as municipal equipment reserve funds:

(1)   Water Maintenance Fund.

(2)   Sewer Maintenance Fund.

(3)   Community Center Building Fund.

(4)   Aquatic Center Maintenance Fund.

(Ord. 846, Sec. 1; Ord. 2567)

(a)   In accordance with K.S.A. 12-1,118, and amendments thereto, the city has established a multi-year capital improvement plan setting forth the public improvement and infrastructure needs of the city on a prioritized basis and to create a capital improvement fund for the purpose of funding the public improvements and infrastructure needs;

(b)   The city currently has, maintains, and routinely updates a multi-year capital improvement plan.

(c)   Within the meaning of K.S.A. 12-1,118 and amendments thereto, the city designates and/or ratifies the following funds as multi-year capital improvement funds:

(1)   Capital Improvement Fund.

(2)   Electric Utility Fund.

(Ord. 846, Sec. 2; Ord. 2567)

(a)   The equipment reserve fund shall be used as 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 annual reserve amounts.

(b)   The capital improvement fund shall be used as financing mechanism to secure the planned financing and construction of public improvements and infrastructure needs of the city on a prioritized basis. The governing body will annually approve an allocation of current revenues in that year’s budget sufficient to (a) finance public improvements and infrastructure needs for the following year, and (b) finance anticipated future capital improvements and infrastructure needs by setting aside annual reserve amounts.

(Ord. 846, Sec. 3; Ord. 2567)

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

(Ord. 2567)