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Fire Capital Fund (Page 64-65) <br />Background <br />The Fire Equipment Fund was created in 2013 to accumulate funds for future fire apparatus purchases. <br />The current property tax levy is at $160,000. <br /> <br />Source of Funds <br />The property tax levy is the main source of funding for this fund. In addition, the Little Canada Fire <br />Department makes contributions to the Fire Capital Fund. <br /> <br />Significant Highlights in Future Years <br />The next significant fire equipment purchase is an aerial truck that is scheduled to be purchased in 2022. <br />This truck will replace a 1992 Aerial. A committee of the LCFD was formed in 2020 to begin the process <br />of identifying the specifications and process for this purchase. <br /> <br />Fund Summary <br />With a property tax levy of $160,000 per year, the fund will not have sufficient funds for fire capital <br />replacement and fire station facility improvements identified in the next five years. The LCFD long-range <br />planning committee will be analyzing the capital requests in the next few months to determine a funding <br />solution. 2021 Estimate 2022 2023 2024 2025 2026 Revenues $197,122 $263,300 $210,200 $199,000 $199,000 $199,000 Expenditures 48,575 577,730 1,677,770 226,330 223,010 162,500 Net inc./(dec.) in fund balance 148,547 (314,430) (1,467,570) (27,330) (24,010) 36,500 Beginning Fund Balance $1,283,452 $1,431,999 $1,117,569 $(350,001) $(377,331) $(401,341) Ending Fund Balance $1,431,999 $1,117,569 $(350,001) $(377,331) $(401,341) $(364,841) <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />9