2012 Wrap Up
Dec
21
Written by:
- Oliver Walling
12/21/2012 10:15 AM
As we approach the Christmas holidays we breath a sigh of relief that all our budgets have been submitted by the deadline. The big question this budget season was what do we do about potential FEMA grants. Fortunately, the State Legislature passed PL 2011 c.153 in 2011. If you receive a grant to purchase equipment and have not included the grant or the appropriation in the budget, you can now amend the budget adding the revenue and the appropriation.
FEMA funds are also available to reimburse districts for expenses incurred as a result of Superstorm Sandy. If the amount of the expense is known, discuss with your auditor the advisabilty of accruing the expenses and revenue on your 2012 financial statements.
Make sure you have reviewed Local Finance Notice 2012-29. This notice relates to emergency appropriations and financing. There is a list there of vendors added to the state contract list that relate to disaster supplies and equipment, including generators. I have been told that FEMA has funding for generators. There are funds available, so make sure your district is fully prepared to handle the next disaster.
Those of you considering a lease purchase in 2013, be advised that the Local Finance Board has been questioning the method we utilized to select the financing company. We are compiling a list of leasing companies and plan to go out to bid on all future lease purchases. Feel free to download the list from our web site, www.NJfFireDistricts/org.