Title
TRANSFER OF FUNDS FROM FLEET CONTINGENCY FUND.
Presented by: Penny Poland, Interim Fleet Director.
RECOMMENDED ACTION: Approve fund transfer from Fleet Contingency.
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In 2010, Sedgwick County drove 6,643,279 miles, consuming 661,808 gallons of diesel and unleaded fuel combined at a cost of $1,639,993. As of August 2011, 4,481,113 miles have been driven and 412,832 gallons of fuel have been consumed at a cost of $1,325,976. At 67% through the year, Fleet has already spent 81% of the total it spent in 2010 on fuel.
For 2011, the County budgeted $2.67 per gallon for unleaded and $2.81 for diesel based on figures from the energy industry, specifically the EIA (U.S. Energy Information Administration) website. The current price for unleaded is $3.14 and $3.39 for diesel - prices have fluctuated as high as $3.60 per gallon. While miles driven by County departments have not notably increased in 2011, this increased price in fuel has created a budgetary expenditure deficit. Assuming fuel consumption remains consistent with 2010 and the first eight months of 2011, we project additional fuel usage of 206,416 gallons at an average cost of $3.36 a gallon (206,416 x $3.36 = $693,557).
As a result, Fleet is requesting a funds transfer of $693,557 from the Fleet Contingency, 16008-602, to the commodities line of the Fleet Stock Room, 16003-602.
Alternatives: Deny transfer resulting in greatly restricted vehicle and equipment usage for the balance of the year.
Financial Considerations: The Fleet Contingency was adopted at $1.5 million as part of the 2011 budget.
Legal Considerations:
Policy Considerations:
Outside Attendees:
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