Fire Department: Economic forecast – Part 4
A final and arguably the largest factor affecting the housing market is employment. Or unemployment or underemployment.When people don’t have jobs or earn what they should, they will not make major purchases like homes.Since fire department revenues are closely matched in some way with housing prices, a continued high unemployment rate will drag on housing and therefore, fire department revenues
Fire Department: Economic forecast – Part 1
It’s no secret that economic troubles are front and center right now.But, how long will this last? And what does experts say about the situation?Be prepared for a sustained downturnMost departments are funded by some form of income related to property values.
Fire Truck Turn-in & Trade-in leases – Myth Summary
I’ve seen a resurgence in departments considering turn-in, trade-in, or walk-away leases. There are a lot of myths out there and we’ll explore a few.Myth #1 – They are more flexibleThey are , in fact, less flexible. In these type of financing contracts, you are obligating yourself to more terms and conditions.
Fire Truck Turn-in & Trade-in leases – Myth #2
I’ve seen a resurgence in departments considering turn-in, trade-in, or walk-away leases.
Fire Department Finances: Professional Behavior
Just in the past week, I’ve read stories about financial mismanagement at 10 different fire companies. One department lost over $100,000!These stories not only damage the reputation for the fire department with the embezzlement, it hurts the entire industry.
Fire Department Funding: Survivor skills
In today’s economy, every fire department must possess a new skill to survive. It’s the ability to portray their needs in financially compelling terms.Today, it’s all about the money.
Fire Truck Financing: How to save money
Most fire departments make a fatal fire truck financing mistake that costs them thousands of dollars.
Firetruck Refinancing: The major blunders
Interest rates are at all-time lows. You may be able to re-capture some budget by refinancing your existing fire truck leases or loans. So, what refinancing blunders do some fire departments make that actually costs them money
How "smart" fire departments lose money
I received a call from a department the other day and their story is very enlightening about how fire departments waste a lot of money when financing a fire truck.Here’s what this “smart” department did wrongThe department was buying a $500,000 pumper and wanted to put about $100,000 down.
Fire service: Consolidation survivors – Part 5
According to the NFPA, there were 30,165 fire departments in the U.S. in 2009