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POLICY STATEMENT

To manage a separate reserve fund used to fund fire department and 911/dispatch equipment replacement, excluding vehicles, and to fund business initiatives within the fire department.

REASON FOR POLICY

To establish the sources of funding for this reserve fund, and the procedures to follow for utilization of the fund for City expenditures.

RELATED INFORMATION
Revenue Sources:
Funds are derived from transfers to the reserve from the Fire Department operating budget as approved by Council, as well as any surpluses in the Fire Department operating budget.

Interest on the reserve will accrue to the reserve.

Expenditure Guidelines:

The Fire Department Equipment Replacement and Business Initiatives Reserve fund may be expended for any of the following purposes:

1.  Replacement of existing fire or dispatch equipment, excluding vehicles.

2.  New or expanded service initiatives within the Fire Department.

RESPONSIBILITIES
City Council will review and approve any revisions to this policy.
City Manager will review and approve any procedures related to this policy.
City Administration will carry out the policy based on established procedures.