Translate[Archived] Question # 18: Is transitioning the Fire Vehicles & Apparatus project to cash financing still planned? If so, when?
Question:
During last year’s budget process, staff indicated that the FY 2022 CIP would transition the financing of the Fire Department Vehicles & Apparatus project to cash financing. That doesn’t appear to have occurred this year. Is that transition still planned? If so, when? (Mayor Wilson)
Response:
The Proposed FY 2022 – FY 2031 CIP continues to contemplate the use of general obligation borrowing to purchase heavy vehicles and apparatus for the Alexandria Fire Department. The conversion of this project to cash funding is still being considered in the out-years of the CIP, however based upon current COVID-19 related economic conditions that resulted in significant cash capital reductions in FY 2020 and FY 2021, staff recommends re-evaluating this option as part of the FY 2023 budget and CIP development and is currently in the process of developing that plan for inclusion in FY 2023 CIP project submissions this fall.
The Proposed FY 2022 – FY 2031 CIP maintains a bond financing plan for Fire Vehicle and Heavy Apparatus replacement, to ensure adequate borrowing capacity is held in reserve for these vehicle purchases, until the bond-to-cash financing plan is finalized.