Regular Fire Board Meeting - July 10, 2024

Capital Assets and Non-Current Liabilities

In order to continue to provide the best service possible, the District spends a portion of the budget on fixed asset acquisition and capital projects. For fiscal year ended 2021 the District did not purchase any fixed assets.

Capital Assets, Net of Depreciation June 30, 2021

BALANCE 06/30/ 2020

BALANCE 06/30/2021

Depreciable Assets Vehicles

$1,148,297 1,410,466

$ 1,148,297

Buildings

1,410,466

Equipment, Admin Equipment, Fire

166,179 691,834

166,179 691,834

Total Historical Costs

3,416,776

3,416,776

Less Accumulated Depreciation

Vehicles

1,148,297

1,148,297

Buildings

865,622 156,838 674,873

903,006 157,662 683,641

Equipment, Admin Equipment, Fire

Less: Total Accumulated Depreciation

2,845,630

2,892,606

Depreciable

Capital Assets, Net

571,146

524,170

Non-Depreciable Assets

Land

0

0

Capital Assets, Net

$ 571,146

$

524,170

Non-Current Liabilities

At the end of the current fiscal year, the District did not have any non-current liabilities.

Factors Affecting Future Results

The District is subject to general economic conditions such as increases or declines in property tax value or other types of revenues that vary with economic conditions.

The following are items we would like to work on next fiscal year: 1. Financial Corrective Action Plan – we would like to decrease district expenditures and variances to increase district funds. 2. Residential housing for Personnel – we would like to increase the amount of housing we provide for our volunteer personnel.

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