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The CIP Committee, working with the Highway Supervisor, developed this table in 2003 and updates it annually. It shows all of the current highway vehicles with their estimated replacement cost, estimated useful life, replacement schedule and total estimated replacement costs for the next 10 years. With the goal of developing a CIP Plan that levels the annual capital costs, the CIP Committee had placed $59,000 in the CIP plan each year for the replacement of highway vehicles. This year’s update shows that the deposit amount needs to be increased to
$62,500. The Board of Selectmen have submitted annual Warrant Articles for deposits to this Capital Reserve Fund. These Warrant Articles have been approved by the voters each year. Spending money from this fund requires the vote of Town Meeting.
YEAR |
EQUIPMENT |
HOURS OF SERVICE |
MILES |
ESTIMATED LIFE |
1st REPLACE |
2nd REPLACE |
ESTIMATED COST |
2008 |
International 6w Dump Truck |
14 |
271 |
8 Years |
2015 |
2022 |
$110,000 |
2006 |
Ford F-350 Pick-up |
1636 |
24,727 |
7 years |
2012 |
2019 |
$40,000 |
2004 |
Ford F-550 Dump Truck |
3285 |
33,103 |
7 years |
2011 |
2018 |
$60,000 |
2001 |
Caterpillar 924 Loader |
1918 |
--- |
15 years |
2015 |
2030 |
$120,000 |
2000 |
International 6w Dump Truck |
2640 |
29,112 |
9 years |
2009 |
2018 |
$110,000 |
1987 |
Ford Backhoe |
987 |
--- |
20 years |
2010 |
2030 |
$70,000 |
HIGHWAY DEPARTMENT EQUIPMENT CAPITAL RESERVE FUND CASH FLOW
YEAR |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
Revenue |
$62,500 |
$62,500 |
$62,500 |
$62,500 |
$62,500 |
$62,500 |
$62,500 |
$62,500 |
Expense |
~ |
($110,000) |
($70,000) |
($60,000) |
($40,000) |
$0 |
$0 |
($230,000) |
Balance |
$72,500 |
$25,000 |
$17,500 |
$20,000 |
$42,500 |
$105,000 |
$167,500 |
$0 |
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