FY2022

due to the availability of state and federal grants to make these purchases. Transit buses and facilities are depreciated using the straight-line method over an eight-year useful life. These grants typically fund 80% - 85% of the acquisition cost of the bus. The projected balances for replacement funds for fiscal year 2022 are as follows: Reserve Fund Balance Library equipment equipment General 432,736 $ Public transportation buses & facilities Transit 5,131,700 $ Facility replacement General 9,000,000 $ Vehicles and heavy equipment Equipment 14,695,599 $ Cable television equipment General 153,529 $ Info technology equipment ITS 756,124 $ Wastewater infrastructure & facilities Wastewater 6,024,570 $ Water infrastructure & facilities Water 2,927,500 $ Airport infrastructure & facilities Airport 136,156 $ Stormwater infrastructure & facilities Storm Water 399,000 $ The General Fund is presented beginning on page 115, the Transit Fund is presented starting on page 382, the Equipment Fund is presented on page 621, and the ITS Fund is presented beginning on page 634. The City also collects funds to replace copy machines through a charge-per-copy that is collected in the Central Services Fund. This fund is projected to have $789,694 in fund balance at the end of fiscal year 2022 available for the replacement of copy machines. The Central Services Fund is presented starting on page 642. Risk Management and Health & Dental Insurance Reserves (OPEB) The City contracts for actuarial services for the purpose of calculating and maintaining reserves that are intended to provide for certain liabilities. Actuarial calculations regarding liabilities for future expenditures are determined for risk management (liability, workers compensation, and property insurance) payments, health and dental insurance payments, and retiree health and dental insurance benefits. Actuarial calculations are updated annually and help determine internal charge rates and premium rates for risk management and health insurance charges. The estimated Risk Management fund reserve for fiscal year 2022 is $4,116,014. The estimated Health Insurance reserve for fiscal year 2022 is $12,467,090 of which $8,627,420 is being reserved for Other Post- Employment Benefit (OPEB) liabilities. The OPEB liability was calculated with the actuarial assumption of a 2.66% discount rate, an inflation rate of 2.6% per annum, a salary increase rate of 3.25%, and an annual medical trend rate of 8.00% decreasing 0.5% each year to a 4.5% ultimate medical trend rate. The estimated Dental Insurance reserve for fiscal year 2022 is $426,842. The Risk Management Reserve is presented on page 629 and the Health Insurance Reserve is presented on page 648.

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