BUDGET SURPLUS EXPENDITURE PROPOSAL

To : The Council
From : The Mayor
Date : 14 May 2008

After receiving the latest audit report, it has been determined we have a surplus of $192,719. I am proposing the following expenditures for your consideration and approval.

EQUIPMENT REPLACEMENT FUND: Per city policy, 50 percent of the surplus ($96,359) must be set aside for equipment replacement. In considering our needs, I am recommending this amount be earmarked for the replacement of our current Emergency Government vehicle, with any additional funds needed to be budgeted in FY2009. If any funds are leftover after this purchase of an EG vehicle, the money should be set aside for a new aerial truck for the fire department

CAPITAL/MISCELLANEOUS IMPROVEMENTS:$96,360 remains from the surplus, and I am proposing the following expenditures
$25,000 – To be set aside as an emergency fuel fund for departments which will run a fuel deficit in 2007 due to the increasing price of gas
$20,000 - Construction of two concrete dugouts for the girls softball diamonds in Murray Park
$10,000 - The purchase of additional and replacement playground equipment (replacing the $3000 request from the Park and Rec Board and adding $7000)
$10,000 - To increase the money set aside for the Welcome to Ripon signs
$9,000 - To fund the hiring of a consultant to determine if the moving of the rail system through Ripon is feasible
$6,000 – Repair four (4) street lights in Barlow Park
$5,000 - Replacement of the existing Ripon population signs, with additional signing beneath highlighting the Birthplace of the Republican Party and the home of Ripon College
$5,000 - Refinancing the Downtown Facade Grant Program (the program has not been funded since 2000)
$3,360 – Additional funding for the city’s sesquicentennial celebration (mainly targeted for the purchase and planting of a city time capsule)
$3,000 – Replace the toilet partitions in Ceresco Park