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