Consider Action on a Resolution Approving the Purchase of Three Vehicles for the Police Department and Authorizing the City Manager to Execute the Purchase Agreement in an Amount Not to Exceed $163,742.15. 

An Asset Management System (AMS) is utilized to track the Town's vehicles.  Staff reviews and evaluates the condition of the vehicles and equipment on an annual basis to determine which assets warrant replacement.

Purchasing cooperatives solicit competitive bids from many vendors for products and services for their members.  Purchasing through a cooperative streamlines the procurement process for public entities, resulting in a savings of both administrative time and money.  Staff identified the vendors and purchasing cooperatives in the tables below as being able to provide the replacement vehicles needed.  The Interlocal Purchasing Cooperative (TIPS) is an arrangement whereby the Town may make purchases previously bid by that entity.  

The Capital Equipment Replacement Fund (CERF) was established to accumulate sufficient resources to replace existing capital rolling stock and equipment that has reached the end of its useful life.  Capital Equipment Replacement Fund resources are acquired through charges to operating departments.  The charges are calculated using a straight-line depreciation method based on an item's expected life.

Using funds budgeted in the Fiscal Year 20232 CERF, the following vehicles are recommended for replacement based on the AMS and staff condition assessment.

Estimated and quoted price differences are due to changing market conditions. 

Administration recommends approval.