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FINANCIAL IMPACT: There will be a slight reduction in interest earnings due to the "no interest" loan provision of this program. Assuming 20 employees participate in the program initially, the interest loss may approximate $3,000 per year if all twenty employees obtained the $2,500 maximum loan (at an assumed interest rate of 6%). This is an extremely nominal cost when compared to the productivity benefits of this program. While it is not possible to adequately quantify at this time, staff expects a net positive fiscal impact as a result of this program. Funds available in the Trust and Agency Fund (762) will be utilized and accounted for as a loan receivable. There is no impact on the operating budget as related to appropriations. RECOMMENDATION: Approve a computer purchase program for full-time City employees, that provides interest free loans to acquire computer hardware, software and related support equipment, which are compatible with those used in the City of Colton workplace. Attachments Exhibit 1 — Employee Computer Purchase Program Policies and Procedures (pages 1 — 3) Exhibit 2 — Employee Computer Purchase Program Loan Request (page 4 — 5) Exhibit 3 — Employee Computer Purchase Program Promissory Note (page 6)