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STAFF REFERENCES: <br /> Ron Neufeld, Director of Financial Management Telephone: 424-2702 <br /> Matthew Sekosky, Fire Chief Telephone: 424-2811 <br /> The Fire Chief, Matthew Sekosky, will be in attendance at the City Council meeting to <br /> answer any questions of the City Council on this item. <br /> BUDGET/TIME IMPLICATIONS: <br /> As indicated earlier, only a portion of the funds necessary to replace this truck ($379,008) <br /> has been transferred into the Equipment Replacement Fund. The equipment replacement <br /> schedule called for the truck to be replaced in FY11/12 and the estimated replacement <br /> cost was lower than the actual cost to replace the truck. <br /> Therefore it is the recommendation of City staff that the Fire Department borrow the <br /> money ($204,837) from the Equipment Replacement Fund and repay it over three years <br /> starting in FY 07/08, at 4.8%, and that $74,936.18 be added to the Fire Department <br /> budget and transferred to the Equipment Replacement Fund. <br /> _ � <br />