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Staff proposes repurposing equipment reserve fund to cover maintenance costs
Summary
In a work session staff recommended repurposing the Municipal Equipment Reserve Fund (MRF) to a Municipal Maintenance and Equipment Replacement Fund (MMIRF) and charging a maintenance fee on city projects so the city can plan and save for lifecycle maintenance of new infrastructure and facilities.
During the work session, deputy city administrator Maddie Boughton presented staff recommendations to repurpose the Municipal Equipment Reserve Fund to include maintenance costs and to institute a project charge that would allocate money for future maintenance and replacement.
"For every project that we do moving forward, we're gonna charge the city itself a certain percentage and allocate those dollars for future maintenance activities to make sure that we're adequately preparing for those things," Maddie told the council. Staff said the fund was established in 1991 for equipment replacement and that the city's growth and recent capital projects make it necessary to plan for ongoing maintenance today rather than waiting years after construction.
Staff proposed bringing back an ordinance to rename and repurpose the MRF and a resolution that would outline parameters for the proposed maintenance fee. Council members expressed support for being proactive; staff said it would consult the city attorney and return a draft ordinance and resolution on a future consent/regular agenda for consideration.
