Determine whether the Town of Lisle (Town) officials established long-term capital and financial plans to address the Town’s Highway Department equipment and vehicle needs.

Key Findings

Town officials did not establish long-term capital and financial plans, which provide a framework to assess the Town’s capital and financial needs and identify appropriate funding and financing approaches to address them.As a result:

• 10 of the 15 pieces of major highway equipment and vehicles (67 percent) in use were between three and 17 years beyond their optimal usable life.
• Out of the 10 pieces of major highway equipment and vehicles reviewed, seven required repairs during the audit period totaling approximately $94,000.A loader, which is seven years beyond its usable life, accounted for approximately $66,000, or 70 percent, of these total repair costs.
• The Town Board (Board) has not established any highway equipment capital reserve funds to save funds for asset replacement.

Key Recommendations

• Develop long-term capital and financial plans.
• Establish and fund reserves for highway equipment capital needs.

The Town Supervisor indicated he would follow the Board’s lead in taking corrective action.