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File #: 24-637    Version: 1 Name:
Type: Agenda Status: Agenda Ready
File created: 11/4/2024 In control: City Council
On agenda: 11/12/2024 Final action:
Title: Approve a Resolution Amending the FY2025 Budget, BAF #25-008-A, for purchase of a Monarch fire pumper truck from Sutphen Corporation for $1,119,995
Attachments: 1. Budget Resolution FY2025.pdf, 2. BAF 25-008-A- FD Fire Truck Fund Balance (11-12-24) Agenda 24-637-FY25.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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CITY COUNCIL AGENDA ITEM

 

Memo Date:                                          November 4, 2024

Agenda Date:                     November 12, 2024

Prepared By:                                          Rebecca Bowman, MBA, CGFO, CGFM, Finance Director

Through:                                          Stockton Whitten, City Manager

Requested Action:                     

title

Approve a Resolution Amending the FY2025 Budget, BAF #25-008-A, for purchase of a Monarch fire pumper truck from Sutphen Corporation for $1,119,995

End

 

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BACKGROUND:

 

City Council approved purchase of several capital items in the FY 2025 Adopted Budget using debt financing.  The Finance Director has been working with the City’s financial advisor to obtain quotes for lease financing to purchase the equipment.  Sutphen Corporation is currently building a fire truck that will be ready for delivery by mid-year 2025.  City Council approved the purchase of the fire truck at the City Council meeting on October 8, 2024 (agenda 24-580); however, the debt financing is not in place yet & therefore a purchase order cannot be issued.  Sutphen Corporation is requiring a purchase order to be issued ASAP in order to hold the truck for the City of Cocoa, even though they were provided with a letter of intent to purchase the truck.  If the City is unable to purchase the truck that is currently being built, build-out of a new truck could take up to three years.  Staff is requesting approval of BAF # 25-008-A to provide funding for the fire truck using fund balance.  Staff anticipates requesting approval of a lease agreement at the December 10, 2024 City Council meeting.  If the debt financing is approved by City Council, a subsequent BAF will be presented for approval to reverse BAF # 25-008-A & return the budget to fund balance

 

STRATEGIC PLAN CONNECTION: 

 

Fiscal Sustainability

 

 

BUDGETARY IMPACT:

 

Budgeted                                                                                                                                                   No

If not budgeted, is amendment/transfer attached?                     Yes

 

Amount Requested                                          $1,119,995

Account Number                                          001-2201-522.64-00 CA2501

Account Name                                          Capital Vehicle Equipment & Machinery

 

Source of Funds:                      Fund Balance 001-0000-389.90-00

 

 

PREVIOUS ACTION:

 

City Council approval to purchase a Monarch pumper truck from Sutphen Corporation October 8, 2024 (agenda 24-580.

 

RECOMMENDED MOTION:

Recommendation

Approve a Resolution Amending the FY2025 Budget, BAF #25-008-A, for purchase of a Monarch fire pumper truck from Sutphen Corporation for $1,119,995