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get two or lhrcc yc~trs of use out of it. The down side would be not having the $3,000 in the drug <br />Forfeiture l'tmd, which is used to pm chase equipment. <br /> <br />Chairperson l';lvig indicated it wou !d be the Police Depal, tment's decision as to how they would <br />weigh that oul. <br /> <br />Police (~hict' \¥ay t~xplaincd Assistm~i City Administrator Nelson will be bringing something <br />Ibrward soon r%a~'ding C. ily vehicles;. The City is in a pinch for vehicles and is looking into <br />other options. <br /> <br />Chairperson t';I vis .;_tsked it' another -,~ehicle would be sold if this vehicle were to be kept. <br /> <br />Police Chieff Way replied thc vehicle ii: replaces may be moved over to administrative use. He <br />explained stal'l' is looking into rathe? than moving vehicles from police use to administrative use, <br />to sdl thcm and put the money towmtg leasing vehicles and purchasing other less expensive and <br />more fucl cl'lSdent vehicles. <br /> <br />l';inancc el'ricer [~tmd noted cities like Elk River sell their cars and still receive $10,000 to <br />$15,000 back on thc cars. <br /> <br />Council member Zi mmerman commented these cars bring a good price at auction. <br /> <br />Finance O/'fice~' Ltt~ld indicated this information will be incorporated into the 2005 budget. <br /> <br />Police Chicff Way explained drug £ot*fciture money cannot be used to purchase vehicles; however, <br />there is /'umlin~. available to Iix thc vehicle. If it is determined it would be expensive to fix the <br />vehicle it would bc sold. <br /> <br />Motion by (iouncilmcmbcr Zimme~ ma~, seconded by Councilmember Strommen, to recommend <br />that the City ( 'ouncil approve thc uts,..: o i' the 1995 drug seized Lexus for staffuse. <br /> <br />Chairperson }(lvig clarified siaI'f w',l] still be looking at the actual expenses required to fix the <br />vehicle, and il' there are any problen~s tl ~e recommendation may be reversed. <br /> <br />Police Chief Way responded in the ~ffirmaiive. <br /> <br />Motion carried. Voting Yes: Chai~'p~:rson E1vig, Councihnembers Zimmerman and Strommen. <br />Voting Mt): None. <br /> <br />Case ltl: Am,md Capitalizati~m Threshold for Fixed Assets to $5,000 <br /> <br />Finance el'lice Lu~d stated in 199!.,', tl-~e City Council adopted a fixed asset threshold for fixed <br />assets in thc amo~mt of' $1,000. For year ending 2004, the City of Ramsey is required to <br />implement GASB/t34 which is a mw ~eporting model of how the City's Comprehensive Annual <br />Financial Report ((~AFR) is to be p~'estmted. A major component of this model is the repolnting <br /> <br />ICina~ce Co~nmittee/May 25, 2004 <br /> Page 2 of 6 <br /> <br /> <br />