Reconstruction Project will be the third largest project that the city has completed in the past 30 years. Depending on whether or not the State Capital Improvement Program grant and zero interest loan are awarded ($491,000 grant and $491,000 loan), a supplemental appropriation may be needed to cover the costs.

Mrs. Fodge asked about the starting year account balances.

Mr. Klopsch shared that Water Funds, Sanitary Sewer Funds and Stormwater Funds should begin with a $1 million balance in each fund, and the Refuse Funds should begin with around $500,000 each calendar year. The rule of thumb for General Funds is to keep at least six months of operating money available in city reserves. Oakwood currently has about 11 months of reserves.

Below is a comparison of 2021, 2022 and proposed 2023 capital expenses:

2021 Budget: $2,200,445
2022 Budget: $2,700,889
2023 Proposed: $5,272,994
  • 2023 PROPOSED CAPITAL PROJECTS/EXPENSES: The following capital expense items are included in the proposed 2023 Budget:
    ➤ General City Services
    • Computer Equipment: $60,000
    • Telephone Recording System: $25,000
    • S-44 2016 John Deere Mower Replacement: $15,000
    • S-82S 1994 Henderson V-box Salt Spreader Replacement: $30,000
    • S-86S 2003 Henderson V-box Salt Spreader Replacement: $30,000
    • S-91S 1997 Henderson V-box Salt Spreader Replacement: $30,000
    • S-51 2011 John Deere Gator Replacement: $20,000
    • Brush Chipper: $35,000
    • Orchardly Park Playset Replacement: $50,000
    • Safety Department Flooring Replacement: $25,000
    • OCC Carpet Replacement – Lower Level and Great Room: $20,000
    • OCC Heating System: $75,000 (contingency)
    • Car #40 (Marked Cruiser) 2015 Ford Taurus Replacement: $75,000
    • Car #75 (Captain Vehicle) 2008 Dodge Dakota Replacement: $36,000
    • S-87 2009 International Dump Truck Replacement: $150,000
    • Georgia Buggy Material Hauler: $20,000
    • S-71 2008 Ford Pickup, F250 w/Dump Bed Replacement: $45,000
    • Asphalt Street Program: $450,000
    • Concrete Street Program: $100,000
    • Far Hills Inlet, Curb, Sidewalk and Apron Repairs: $375,000
    • 2024 Far Hills Resurfacing (20% payment to ODOT): $220,000
    • Shafor Park Swing and Safety Surface Replacement: $90,000
    • Sidewalk, Curb & Driveway Apron Program: $225,000
Page 4 of 5