Rethink How You Spend Other People's Money

Coleman, Ronny J.
March 2004
Fire Chief;Mar2004, Vol. 48 Issue 3, p42
Trade Publication
The article presents information on the financial management of a fire fighting agency. The agency must have a balanced check book at the end of every year. It must also have a line of logic to how it budgets its funds, or it could find itself in financial difficulty. It is unreasonable for an organization to have debt. The key is whether the debt is so burdensome that it destroys the ability to have the quality of life that one has chosen. In the context of a fire department, if revenues aren't adequate and resources are limited, then the level of service the community wants or needs may not be satisfied. However, for the department to survive tough times, it needs to carefully monitor cash flow and prioritize expenditures in accordance with specific needs.


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