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The Prescott Daily Courier | Prescott, Arizona

home : latest news : latest news September 15, 2014

6/26/2013 6:00:00 AM
CYFD board to discuss budget, bond debt, purchasing at Thursday board meeting
Lisa Irish
The Daily Courier

The Central Yavapai Fire District Board of Directors will discuss budget options, listen to a presentation on bond debt servicing, and ceremoniously swear in new board member Tom Steele at a special meeting this Thursday, June 27.

The meeting, which is open to the public, begins at 2 p.m. at the Central Yavapai Fire District Training Center, 9601 E. Valley Road in Prescott Valley.

On May 21, the board approved a tentative 2013-14 budget of $17.3 million, a 7 percent decrease from the $18.6 million budget for 2012-13.

The tax levy remains basically flat with a .16 percent increase. For a house valued at $100,000, the tax rate of $2.37 means the property owner would pay $237 per year in taxes, an average increase of $6 per year.

The tentative budget reduces contingency funding from 15 percent to 11.5 percent, fully staffs Station 58 at 4850 N. Robert Road in Prescott Valley, and pays for merit increases.

Since the board approved the tentative budget, the county told CYFD that revenue will be $90,648 less due to the overall decrease in assessed valuation.

In addition, a workers' compensation insurance quote came in $61,039 more than the amount budgeted due to rate increases for the district and all fire departments.

Also, the retirement of 10 employees between 2014 and 2018 could save the district $300,000.

Now, the board could possibly reduce the amount of the overall budget or move funds from one account to another, but they cannot increase the budget before its final adoption in July.

The board will hold a public budget hearing and approve the final budget at its July 16, board meeting.

Stifel, Nicolaus & Company Managing Director Mark Reader will present information about bond debt service financing to the board that had been scheduled for a meeting earlier in June but had been postponed.

The $6.63 million general obligation bond refunding could save the district $500,000 over 10 years if the bonds are privately placed.

The 2008 bond was used to construct a fire station and training facility and would be callable July 1, 2019. The 2005 bond was used to build and equip firefighting and other facilities and is callable in August 2015.

Warehouse Operations Manager Frank Vander Horst will present information on anticipated revenues and expenses to the board for its participation in the Greater Yavapai Purchasing Consortium that the board approved at its last meeting.

Steele was sworn in as a CYFD board member on June 19, so the process at the meeting is ceremonial and for the public.

Steele was appointed at the June 18 meeting to the vacancy created by former Board Chairman John Range who stepped down for health reasons in May.

Board members also may consider appointing a new chairman and clerk at the meeting. In May, Bob Gardiner was appointed interim board chairman and Bob Page was appointed interim board clerk.

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