Capital Leases
During the year ended September 30, 2018, the City executed a capital
lease payable to Stryker Flex Financial for the purchase of two
LifePak 15 Defibrillator/Monitors in the amount of $67,314 at 0%
interest. The capital lease payable constitutes a direct obligation of
the City and is payable in five annual installments of $12,282 and an
initial upfront payment of $5,904. The capital lease payable is
secured by a lien on the purchased equipment. The balance of this
lease as September 30, 2021 is $24,564.
During the year ended September 30, 2021, the City executed three
capital leases payable to American National Leasing Company for the
purchase of three Chevrolet Tahoes in the amount of $52,633 each at
2.75% interest for each lease. The capital leases payable constitutes
a direct obligation of the City and are payable in four annual
installments of a total of $26,187 and a final balloon payment
totaling $53,194. The capital leases payable are secured by a lien on
the purchased equipment. The balance of these leases as September 30,
2021 is $122,151.
from https://cms5.revize.com/revize/stinnett/City%20of%20Stinnett,%20Texas%20Annual%20Financial%20Report%20-%20September%2030,%202021.pdf
they actually made money on sanitation + ambulance + court + ? water /
sewer ? + ? gas utility ?
not sure who got the tahoes ... maybe police
looks like they have fulltime ambulance and fulltime police ... the
ambulance broke even or made money with 300K in expenses and 100K in
billing and 200K in grants
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