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NOTE 5 - RECEIVABLES
General and governmental fund receivables are recorded as received except for
those funds collec ted and held by other governments on behalf of the Fire District.
These amounts are recorded as soon as they are measurable and available in
accordance with governmental accounting standards.
NOTE 6 – PROPERTY TAX REVENUE RECEIVABLE
Property Tax Receivab les arise when property taxes are levied but not currently
collected. The collectible portion (taxes levied less estimated uncollectible) are
recorded as deferred inflow of resources in the period when an enforceable legal
claim to the assets arise.
NOTE 7 - CAPITAL ASSETS
Capital asset activity for the year ended.
BALANCE
BALANCE
06/30/20 15 ADDITIONS DELETIONS 06/30/20 16
Depreciable Assets
Vehicles
$1,148,297 $ 0 $ 0 $ 1,148,297
Buildings
1,410,466
0
0
1,410,466
Equipment, Admin
166,179
0
0
166,179
Equipment, Fire
679,986 0 0 679,986
Total Historical Costs
3,404,928 0 0 3,404,928
Less
Accumulated
Depreciation
Vehicles
1,133,767
7,952
0
1,141,719
Buildings
666,026
40,750
0
706,776
Equipment, Admin
141,408
11,783
0
153,191
Equipment, Fire
605,172 17,783 0 622,881
Less: Total Accumulated
Depreciation
2,546,373
78,194 0 2,624,567
Depreciable
Capital Assets, Net
858,555
(78,194)
0
780,361
Non-Depreciable Assets
Land
0
0 0 0
Capital Assets, Net
$858,555 $ (78,194) $ 0 $ 780,361
DRAFT