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 2023, the District did not purchase any fixed assets.

Capital Assets, Net of Depreciation June 30, 2023

BALANCE 06/30/ 2022

BALANCE 06/30/2023

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

940,220 158,486 688,164

976,589 159,310 689,856

Equipment, Admin Equipment, Fire

Less: Total Accumulated Depreciation

2,935,167

2,974,052

Depreciable

Capital Assets, Net

481,609

442,724

Non-Depreciable Assets

Land

0

0

Capital Assets, Net

$ 481,609

$

442,724

Non-Current Liabilities

At the end of the current fiscal year, the District’s non-current liabilities consisted of the non-current portion of compensated absences.

Changes in Non-Current Liabilities:

Balance

Balance

June 30, 2022

Additions

Deletions

June 30, 2023

Compensated Absences- Due in More Than One Year

$ $

0 0

$ 17,432 $ 17,432

$ $

6,026 6,026

$ $

11,406 11,406

Totals

Factors Affecting Future Results

The District is subject to general economic conditions such as increases or declines in property tax value

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