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emewi <br /> LAS,\NTON, <br /> BUDGET SUMMARY <br /> 2011/12FY&2012113FY Operating Budget <br /> replacement of City assets; equipment, vehicles, street lights and traffic lights, and to make <br /> major repairs and renovations to facilities, parks, medians, and city wide tree trimming in order <br /> to extend the lives of these assets. Adopted financial policies call for the establishment and <br /> maintenance of reserves including major maintenance and renovations of buildings, parks, and <br /> medians. This is accomplished by charging operating programs an annual charge pursuant to <br /> a 20 to 30 year funding plan based on the asset replacement cost and estimated life of the <br /> capital asset. <br /> All Other Operating Funds <br /> Projected revenues and expenditures for all other Operating Funds, including Trust and Debt <br /> Service Funds, are contained in the body of the budget document. <br /> 13 <br />