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ORANGE COUNTY FIRE RESCUE STUDY <br />ENO <br />1 Financial Capacity of the Department <br />2 <br />3 Tax Rate and Revenues <br />4 <br />5 In FY 2005-06, the Department was funded by a tax rate of $0.057 per hundred <br />6 (the same as the prior year), which generates about $313,000 in tax revenue. <br />7 In addition, the Department receives approximately $16,000 from Durham <br />8 County. <br />9 <br />10 Debt <br />11 <br />12 The Department is indebted for the two Pumper/Tankers purchased in 2001. <br />13 The debt is being retired at the rate of $46,103.04 annually and will be fully <br />14 paid on May 19, 2010. <br />15 <br />16 Projected capital needs <br />17 <br />18 The Department has been setting aside a portion of the tax funding for capital <br />19 reserve accumulation to fund construction of a second station and 800 MHz <br />20 radios as necessary. <br />21 <br />22 The funds for the proposed Station 2 as of June 30, 2005 represented the largest <br />23 share and totaled $159,540.82. Total reserves on that date were $198,149.27. <br />24 The Department will incur substantially more debt than its reserves. <br />25 <br />26 <br />27 Observations and Issues <br />28 <br />29 Although the current station is ideally located within the District, the physical plant <br />30 is inadequate for current needs and should be replaced soon. It has a wood frame <br />31 upstairs with no dormitory accommodations feasible. The pumper/tankers are very <br />32 cramped in the station and compromise training opportunities and safety. The <br />33 property offers ample room for future replacement and expansion. However, the <br />34 Department's access to a public road is over a long narrow drive that also crosses <br />35 private property. <br />36 <br />38 <br />