Regular Fire Board Meeting - July 10, 2024

NOTE 6 - RECEIVABLES

General and governmental fund receivables are recorded as received except for those funds collected and held by other governments on behalf of the Fire District. These amounts are recorded as soon as they are measurable and available in accordance with governmental accounting standards.

The District had no receivables at June 30, 2020.

NOTE 7 – PROPERTY TAX REVENUE RECEIVABLE

Property Tax Receivables arise when property taxes are levied but not currently collected. The collectible portion (taxes levied less estimated uncollectible) are recorded as deferred inflow of resources in the period when an enforceable legal claim to the assets arise. For the 2019-2020 Fiscal Year this information was not available from the Apache County Treasurer’s Office.

NOTE 8 - CAPITAL ASSETS

Capital asset activity for the year ended:

BALANCE 06/30/ 2019

BALANCE 06/30/ 2020

ADDITIONS

DELETIONS

Depreciable Assets Vehicles

$1,148,297 1,410,466

$

0 0 0 0

$

0 0 0 0

$ 1,148,297

Buildings

1,410,46 6

Equipment, Admin Equipment, Fire

166,179 691,834

166,179 691,834

Total Historical Costs

3,416,776

0

0

3,416,776

Less Accumulated Depreciation

Vehicles

1,148,297

0

0 0 0 0

1,148,297

Buildings

827,138 156,014 665,805

38,484

865,622 156,838 674,873

Equipment, Admin Equipment, Fire

824

9,068

Less: Total Accumulated Depreciation

2,797,254

48,376

0

2,845,630

Depreciable

Capital Assets, Net

619,522

(48,376)

0

571,146

Non-Depreciable Assets

Land

0

0

0

0

Capital Assets, Net

$ 619,522

$ (48,376)

$

0

$

571,146

36