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Budget & Funding

2024 Budget

On November 13, the Board of Fire Commissioners adopted a $61.8 million budget for 2024, including $8.642 million for capital expenses. The primary goals in developing the 2024 budget were to produce a balanced operational financial plan that sustained or improved the Spokane Valley Fire Department’s high quality service delivery, fulfilled the commitments contained in our collective bargaining agreements, continued to support our commitment to employee health, wellness, and firefighter safety, while addressing the Capital and Operational improvements deemed necessary for the future success of SVFD. Budget development included a retrospective analysis of the 2021-2023 budgets, projected and actual revenues and expenses, along with a thorough review of organizational staffing and overtime expenditures.

 

The department’s projected revenues for 2024 are $62,502,000 with projected maintenance and operations expenditures of $53,190,903 and capital expenditures of $8,642,155. Adequate funding is provided to the various operational programs throughout the department allowing for program sustainability and planned program growth. Employee benefit costs for the self-funded medical plan are projected to increase by 7.5% for 2024; Labor and Industries Insurance rates are projected to increase as well.

New Maintenance Facility opened 2023

Included in the 2024 budget are monies for an additional administrative position and to fill vacant positions. We will conduct a firefighter recruit academy for 21 personnel beginning in March 2024. Monies are allocated for expenditures in several program areas that will continue to enhance the department’s efforts to retain its Class 2 fire department rating by the Washington Surveying and Rating Bureau and maintain SVFD’s status as an Internationally Accredited Fire Agency.

 

The local and regional economic environment looks somewhat unstable as we continue with significant growth in assessed valuations, fuel prices, and inflation. Our goal is to remain resilient while we navigate the true extent of today’s economic impact of the post-pandemic timeframe. The 2024 budget scenario reflects this uncertainty, and staff remains confident that given our current information that the department maintains a strong and secure financial position as we move into 2024. As we continue to move forward, department staff will work with the Board, our labor groups, and our communities to assure that the SVFD remains on solid financial footing. The 2024 budget is consistent with Board policy which maintains a 25% fund balance that provides for the department’s cash flow needs without bonded borrowing.

Thank you to the entire SVFD team that was involved in the 2024 budgeting process. This cooperative approach has produced a budget that is balanced, protects financial resources, and continues to improve the quality services delivered to our communities.

The 2024 Annual Budget Report can be viewed here.