Texas City Creates $11M Fleet Replacement Fund

January 29, 2016

File photo
File photo

The City of Killeen, Texas, is creating a fleet replacement fund after City Council approved the project on Jan. 26. Under the program, departments will make monthly payments into the fleet funding program based on the depreciable value of each vehicle, the Killeen Daily Herald reported.

To establish the fleet funding program, the city will transfer $1 million from 2014 Certificate of Obligations, $3 million from Solid Waste, and $3.5 million from Water and Sewer to the fund, according to city documents. Additionally, the city will provide $3.5 million for fiscal-year 2016 vehicle purchases. The city spends an average of $3.4 million a year on fleet purchases.

“The Fleet Funding Program will ensure that adequate funds are available to purchase vehicles and equipment, to stabilize budgeting for major purchases, and to provide a systematic, city-wide approach to procurement and disposition of the fleet. The goal is to provide sufficient cash flow for annual purchases,” according to a City Council memo regarding the fund.

Comment On This Story

Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


Fleet Management And Leasing

Jack Firriolo from Merchants will answer your questions and challenges

View All


Public Fleet Tracking And Telematics

Amin Amini from Verizon Connect will answer your questions and challenges

View All


Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Recent Topics

I am looking for an anti idle unit for my pickup and medium duty trucks. I need the warning lights to stay on so it would need to start...

View Topic

How many different types of antifreeze do you stock? I’m curious to know what others are doing to deal with the numerous specifications...

View Topic

Fleet Documents

1126 Fleet Documents (and counting) to Download!

Sponsored by

Terminology used in many European countries to define closed end Operating Leases where the lessor is responsible for the cost of maintenance and tires in addition to taking residual value risk.

Read more