Regular Fire Board Meeting - July 10, 2024

A large portion of the District’s net position reflects its investment in capital assets (e.g., land, construction in progress, buildings, machinery, vehicles, and equipment); less any related debt still outstanding used to acquire those assets. The District uses these capital assets to provide services to Citizens; consequently, these assets are not available for future spending. Although the District’s investment in its’ capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

The following page contains a comparative analysis between the current and the prior fiscal year for the government-wide statements.

Condensed Statement of Net Position

Governmental Activities

2020

2021

Assets Current and other assets

$

14,521

$

7,794

Capital Assets, being depreciated, net

571,146 585,667

524,106 531,964

Total Assets

Deferred Outflow of Resources Deferred outflows Related to Court Ordered Tax Refund

0 0

368,161 900,125

Total Assets and Outflow of Resources

Liabilities

Current liabilities Total liabilities

182,789 182,789

551,640 551,640

Net Position: Net Investment in Capital Assets

571,146

524,170

Unrestricted (Deficit)

(168,268 )

(175,685 )

Total Net Position

$

402,878

$

348,485

The unrestricted net position of ($ 175,685) is not available to meet the District’s ongoing obligations to citizens and creditors.

Governmental Activities

Most of the revenues for the District were derived from assessed property taxes and Fire District Assistance Tax from the County. The majority of our budgeted revenue is from property taxes. Our budget for Property Taxes was $688,612 and we received $733,902.

Governmental Activities net position decreased by $54,393. Key elements of this decrease are reported on the following page:

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