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Commissioner Grant - Fire Marshal - To Approve the Transfer of Accumulated Funds Realized from Past Tax Collections, Revaluation, Interest Earned, Etc. to Crowder’s Mountain Volunteer Fire & Rescue, Inc. ($28,520.09)
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STAFF CONTACT
Eric Hendrix - Fire Marshal - 704-866-3231
BUDGET IMPACT
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These transfers are keeping within current policy to transfer accumulated funds
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BUDGET ORDINANCE IMPACT
Transferring accumulated funds from Fund Balance Appropriated Account to Crowder’s Mountain Volunteer Fire & Rescue, Inc. Subsidies Account
BACKGROUND
On occasion funds accumulate in fire district taxing accounts through the realization of past taxes being collected, property revaluation between budgets and account interest earned. This action will transfer such accumulated funds to Crowder’s Mountain Volunteer Fire & Rescue, Inc. Chief Eric Withers submitted a spending plan (see attached) and CMFR’s request for approval to ask the Commissioners to release $28,520.09 of their reserve funds to them. CMFR will use these funds to pay off the balance of a loan to Fidelity Bank for edraulic equipment that was approved by a previous Certificate of Need. They are looking to decrease their debt service and free up their cash flow in anticipation of contracting with an architect and contractor for their new station (03). Chief Withers also updated the Board regarding the expenses incurred thus far in preparation of the new building. He also shared that he would be submitting a Certificate of Need, in the future, for air packs. Ted Hendrix made a motion to recommend to the Commissioners that they release $28,520.09 reserve funds to Crowder’s Mountain Fire and Rescue. David Toomey seconded the motion. There was no further discussion or opposition. The vote was unanimous. The motion carried.
POLICY IMPACT
N/A
ATTACHMENTS
Certificate of Need and Budget Change Request