Annual Funding Requirement for Equipment Replacement Reserve Fund - Fire Rescue Vehicles

Option 1 — Endorse for consideration in the Budget process an increase of $900,000 (estimated tax increase of .26%) per year for three years (Recommended Endorse for consideration in the Budget process, an increase of $900,000 per year for three years to the Reserve beginning in 2027, this will increase the annual Reserve contribution by a total of $2.7 million by 2029. Combined with the current annual contribution of $1.373 million, the total annual contribution would reach $4.073 million by 2029 and will remain at this level to keep the reserve sustainable for future replacements. This phased, systematic approach supports the necessary outcome while limiting financial implementations across three separate tax years and provides opportunity to adjust, should market trends shift.

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