Regular Fire Board Meeting - July 10, 2024

NOTE 13- LINE OF CREDIT

The District does not use a formal line of credit in its day to day operations. The Apache County Treasurer’s Office has historically covered the District’s over drafts when the need arises and is expected to continue to do so.

NOTE 14- COMMITMENTS

A commitment is an obligation arising from an existing contract, agreement or legislative enactment or regulation that will become an actual liability upon the fulfillment of specified conditions. At the close of the Fiscal Year, the District had no committed funds.

NOTE 15 – NON-CURRENT LIABILITIES

In the government-wide financial statements, non-current liabilities and other non-current obligations are reported as liabilities in the applicable governmental activities in the statement of net position.

General Obligation Bonds

The District does not currently have any general obligation bonds.

Notes Payable

The District does not currently have any notes payable.

Changes in Non-Current Liabilities:

Balance

Balance

6-30-2019

Additions

Deletions

6-30-2020

Compensated Absences

$

11,205

$

0

$

11,205

$

0

Total

$

11,205

$

0

$

11,205

$

0

NOTE 16 – NET POSITION/FUND BALANCE

The District’s Net Position balances consist of restricted, unrestricted, and net investment in capital assets amounts.

The District’s Governmental Funds fund balances consist of restricted, committed, assigned and unassigned amounts.

38