COUNTY OF ALBEMARLE
Forgiving of Volunteer Fire and Rescue Department Loans
Request adoption of Resolution forgiving outstanding loan balances owed to the County by various Volunteer Fire and Rescue Departments.
Tucker, Foley, White, Eggleston, Wiggans
LEGAL REVIEW: Yes
August 4, 2004
ACTION: X INFORMATION:
For a number of years the County has assisted volunteer fire and rescue departments by providing interest-free loans for the departments to purchase firefighting and rescue apparatus. These loans, secured by service agreements executed by the department, provided for loan repayments to be deducted from the County’s annual appropriation to the department over a designated period of time.
In the FY 2004/2005 budget process, the budget for volunteer fire and rescue departments took a significant step towards funding 100% of the volunteer department’s identified operating costs through additional funds and restructuring of current contributions. This restructuring of current contributions included forgiving the volunteer departments’ current outstanding debt owed to the County through its no interest loan fund.
4.2. Fund County Services in a fair, efficient manner and provide needed public facilities and infrastructure.
After discussions with the County’s external auditors, it was determined that, in addition to the actual appropriation dissolving the loan fund, a formal resolution must be adopted by the Board forgiving the outstanding balances owed to the County by the volunteer departments as a result of previous service agreements. The attached resolution identifies each department and forgives their current outstanding loan balances.
The appropriation dissolving the loan fund and the transfer of the current fund balance of $164,322.93, is being presented to the Board under a separate Executive Summary.
Staff recommends the Board of Supervisors adopt the attached Resolution forgiving the outstanding loan balances of the volunteer fire and rescue departments.
Return to consent agenda
Return to regular agenda