Confused Over LMRFD Budget

I'm confused about the budget, income, and expenses for the LMRFD. When you review the budget figures, or ask at fire board meetings how much it cost to operate the fire district, we're told it's between $60,000 and $62,000 a month.

I'm not a numbers guy, so someone please explain this to me...

The LMRFD gets $1,100,000 from tax revenue and other income. 

$62,000 X 12 months = $744,000

$1,100,000-$744,000=$356,000

Doesn't the LMRFD have $356,000 over the monthly cost to operate?

Confused....