Title
Support approval of the lease/purchases of the Monterey County Water Resources Agency light duty fleet replacement vehicles through Enterprise Fleet Management, Inc. in an amount not to exceed $96,400, as approved in the Agency's FY 20/21 budget and, authorize the General Manager to execute the lease/purchase agreements.
Report
RECOMMENDATION:
It is recommended that the Finance Committee:
a. Support approval of the lease/purchases of the Monterey County Water Resources Agency light duty fleet replacement vehicles through Enterprise Fleet Management, Inc. in an amount not to exceed $96,400, as approved in the Agency's FY 20/21 budget and,
b. Authorize the General Manager to execute the lease/purchase agreements.
SUMMARY/DISCUSSION:
The Agency has recently entered into a Master Lease Agreement with Enterprise Fleet Management, Inc. to support a program for the cyclical replacement of the Agency's aging fleet. Benefits of refreshing the Agency's fleet on a scheduled rotation would allow for increased vehicle safety, reduced maintenance costs, reduced operational costs, and make annual capital outlay on vehicles more predictable.
In the Agency's current FY 20/21 budget, 10 vehicles have been identified and budgeted for replacement. The term of each lease/purchase agreement will be 48 months. The vehicles will be sold on the secondary market through Enterprise Fleet Services with all proceeds of sales rolling into replacement vehicle leases. The light vehicle replacement program will be reviewed and approved by the both the Board of Directors and Board of Supervisors in the Agency's annual budgets.
OTHER AGENCY INVOLVEMENT:
None
FINANCING:
Sources of funding approved in the Agency's approved FY 20/21 budget. Specific sources, by Agency Fund, shown in Attachment A, Light Vehicle Fleet Budget by Fund FY20/21- Table 2.
Prepared by: Mark Foxworthy, associate Water Resources Engineer, (831) 755-8984
Approved by: Brent Buche, General Manager...
Click here for full text