To: The Honorable Mayor and Board of Commissioners From: Jackie Huffman / Chief Cleveland Spruill Subject: Approve a Budget Amendment funding police cars
The original FY 2018 operating budget was adopted planning to lease 11 new police cars. The Police Department pursued their broker and obtained a proposal to lease the cars at 3.32% which would incur a total of $9,059 interest in FYs 2018 - 2020.
This item would approve adding $177,835 to the Police department budget to purchase the vehicles outright, eliminating the lease financing and saving $9,059 interest. This is accomplished by allocating $177,835 from general fund balance.
|