Regular Fire Board Meeting - June 24, 2020

NOTE 15 – NET POSITION/ FUND BALANCE

The District’ s Net Position balance s 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.

Restricted balance s are amounts constrained to specific purposes by their providers (such as grantors, bondholders, and higher levels of government), through constitutional provisions, or by enabling legislation.

Non Spendable Fund Balances are amounts that are not in a spendable form such as inventories or pre-paid expenses.

Committed fund balance is amounts constrained to specific purposes by the District itself, using its highest level of decision -making authority (i.e., District Board). To be reported as committed, amounts cannot be used for any other purpose unless the Board takes the same highest level action to remove or change the constraint. Assigned fund balance is amounts the District intends to use for a specific purpose. Intent can be expressed by the District Board or by an official or body to which the District Board delegates the authority.

Unassigned fund balance is amounts that are available for any purpose. Positive amounts are reported only in the general fund.

Net Position :

Net Investment in Capital Assets

$ 619,522

Restricted – Bond Fund

9,428

Unrestricted

(256,428 )

Total Net Position

$ 372,522

Governmental Fund Balances :

Restricted – Bond Fund

$ 9,428

Unassigned

(256,485)

Total Fund Balance

$ (247,057 )

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