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ORANGE COUNTY FIRE RESCUE STUDY <br />CEDAR GROVE <br />~ <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />Financial Capacity of the Deparhnent <br />Cedar Grove is funded through a combination of tax revenues, fund raising and <br />donations from the community. The Department also borrows money as needed <br />for large dollar purchases such as apparatus and buildings. The Department <br />budget is based on $150,000 in annual revenues with plans to add $10,000 to its <br />reserve account, which is used for capital expenditures. <br />Tax Rate and Revenues <br />The District tax rate is $0.073. 'I11is translates into projected revenues of <br />approximately $150,000. Additionally, the Department mails 1,400 fund <br />raising solicitations that generate $10,000 annually. Each year the Department <br />receives donations but the amount is uncertain and varies. <br />Debt <br />The Department currenfly owes $265,000 for apparatus and buildings. Annual <br />loan payments are approximately $40,000. <br />Projected capital needs <br />The Department will need to replace app~ratus in the near future. Costs will <br />be approximately $350,000. <br />Observations and Issues <br />The Department's two stations adequately serve its needs but in the long term (10- <br />15 years) will need renovation. The stations do not have dormitory facilities, but <br />with the exception of severe weather or natural disaster, there is no eminent need <br />for such space. New apparatus may move up the need to renovate as today's <br />apparatus is lazger that the apparatus that would be replaced (1970s/1980s vintage). <br />22 <br />