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pay scale and his placement on this scale to match the step placement of the City Attorney. For more information, please speak with the Municipal Judge. Finally, my position as City Manager is not scheduled to see a pay change or COLA in FY23/24 unless directed otherwise by the City Council. 4. Street Mill and Overlay Projects — The City issued long term debt via GO Bond 2017 and GO Bond 2018 for Street, Utility and Park Improvements. Those portions tied to parks have been primarily spent, and there still remains a portion for utility, however we currently have in excess of $2.2 million remaining in funding available for street work. In addition, the proposed FY23/24 Budget includes $1 million in surplus revenue from FY21 /22 that we are proposing to add to this amount, giving us in excess of $3.2 million for the purpose of performing mill and overlay projects in strategic places across the community. City Staff have been developing a priority listing of primary roadways in town that are in need of a mill and overlay (milling the top surface down a set number of inches and repaving). While every street in town could use some work, this limited pool of funds is proposed to be dedicated towards our busiest non-TxDOT roadways to give our citizens the largest impact possible. That list is still in the works, but will be presented to the City Council at a future time, assuming this is included in the FY23/24 Budget. Fire Apparatus Replacement — The City of Paris has for many years incorporated a repeating replacement program within our annual budgets for police cars and EMS Ambulances. While we have two existing loans of marginal amount that were used to replace some apparatus years ago, we do not have a dedicated source of funding set aside each year to replace Fire Apparatus on a sustainable and satisfactory scale. The primary reason is the shear cost with apparatus reaching in excess of $500k each and typically ranging in the millions of dollars. Nevertheless, the City needs to reengage itself towards replacing our aging fleet of fire apparatus. While the Proposed FY23/24 Budget does not include a long term solution to this replacement program, it does however look to kick start replacement to help buy our community some time to figure this out. Next on the list is the 1996 Ladder Truck in Station #1. This is our largest and most expensive piece of equipment, but it is also the next to be replaced. This apparatus has been quoted to cost in excess of $2.2 million and has a 2.5+ year lead time for delivery once ordered. This truck is vital to servicing fires of high rise buildings and significant square footage structures. The resale value of a truck like this is next to non-existent, therefore the City must raise nearly the entire amount to replace. While the City has two existing 10 -year loans that were used to replace equipment, they are both with the principal amount of less than $1 million each and will not become due for another 1-2 years, which places them as 1) too small individually to renew to cover this cost and 2) too far out to be combined to cover this cost (plus too small) while we still have yet a whole other fleet of apparatus that we need to begin replacement of in the near future. With this, the Proposed FY23/24 Budget includes taking $1.5 million of surplus revenue from FY21 /22, partitioning it within the City's reserve in to its own special CD, and using it towards the replacement of this apparatus. Payment of the apparatus is not due until delivery, so by the time delivery occurs, we will be able to combine this $1.5 million with one of these expiring loans, plus perhaps a small amount for any difference that may occur, to purchase this apparatus. We would then issue a new loan for another 10 years. This $1.5 million does not show up in any line item you will see in this packet, but nevertheless it is a fundamental part of this Proposed FY23/24 Budget process to officially set aside funds towards this important replacement purchase. 6. Rising Costs — While the Proposed FY23/24 Budget is not seeing the steepness in cost increases like the FY22/23 Budget saw, we are still dealing with rising costs across the board. Numerous line items have seen their budgets increase just due to the rise in prices for the same amount of product we are purchasing. Staff continue to work hard to find good deals on our significant purchases, but even maintaining minimum services continue to require increases in revenue to fund. 7. Capital Projects and Purchases — With the help of ARPA, General Fund Reserve, and CARES funding, we will be undertaking several needed projects and large capital purchases. In order for the employees to do their work and fulfill the Financial Policy, they must have adequate equipment. Once again, much of the work the Page 11 of 23