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Board directs staff to raise Parkway reserve to $2.4M, keeps two dump trucks on capital list
Summary
After debate over whether MoDOT Parkway funds were being reallocated to meet a reserve policy, aldermen directed staff to set the Parkway reserve at $2.4 million, preserve funding for two dump truck replacements (with phased purchase discussed) and cut lower-priority add-ons.
The Board of Aldermen spent significant time on transportation capital and reserve accounting before directing staff to raise the MoDOT Parkway allocation and formal reserve numbers. City Administrator Devin Lake reviewed a spreadsheet tracing a $2 million MoDOT contribution in 2007 plus subsequent reserve additions; that combined balance was presented as roughly $3.1 million at the end of 2023.
Several aldermen questioned how much of that combined balance should be treated as a Parkway asset versus a general transportation reserve. One alderman said ‘‘you've got 900,000 that's gotta come out of your other money to meet our reserve, not out of this this fund here,’’ arguing most of the Parkway account was asset money. Lake explained she applied the reserve policy — 25% of three‑year average O&M and 25% of depreciated fixed assets — to derive the ordinance-based reserve amount.
Cost context shaped decisions: staff and aldermen agreed resurfacing even one side of the Parkway could easily exceed $2 million based on current asphalt prices and lane widths. After discussion, the board gave staff direction to set the Parkway reserve target at $2,400,000 and accept associated tradeoffs in available unrestricted transportation funds so higher‑priority maintenance and replacements could proceed.
Equipment and prioritization: public-works staff recommended two dump-truck replacements because the fleet is aging (most units roughly 10 years old and rust‑damaged). Staff said they could phase purchases (one this year, one next) if the board wished; aldermen ultimately left both dump trucks in the transportation capital list and asked staff to prioritize maintenance items over additional new add-ons such as restrooms, carports and fencing.
Next steps: staff will update the capital budget to reflect the $2.4 million Parkway target and show the resulting unrestricted transportation balance and prioritized equipment purchases.
