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Executive Summary
The Borough of Clementon's 2014 Audit Report presents the financial standing of the borough as of December 31, 2014, and 2013. The audit includes statements of assets, liabilities, reserves, and fund balances for various funds, along with related statements of operations, revenues, and expenditures. It also covers the Borough's internal control over financial reporting and compliance with laws, regulations, contracts, and grant agreements.
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--- Document: 2014 Audit Report Document ---
BOROUGH OF CLEMENTON
COUNTY OF CAMDEN
REPORT OF AUDIT
FOR THE YEAR 2014
i
11600
BOROUGH OF CLEMENTON
TABLE OF CONTENTS
Exhibit No.
Page No.
PART 1
Independent Auditor's Report
2
Report on Internal Control over Financial Reporting and on Compliance
and Other Matters Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards
5
CURRENT FUND
A
Statements of Assets, Liabilities, Reserves and Fund Balances -
Regulatory Basis
7
A-1
Statements of Operations and Changes in Fund Balance -
Regulatory Basis
9
A-2
Statement of Revenues - Regulatory Basis
11
A-3
Statement of Expenditures - Regulatory Basis
15
TRUST FUND
B
Statements of Assets, Liabilities, Reserves and Fund Balances -
Regulatory Basis
21
B-1
Trust Municipal Open Space Fund--Statement of Revenues - Regulatory Basis
24
B-2
Trust Municipal Open Space Fund--Statement of Expenditures -
Regulatory Basis
25
GENERAL CAPITAL FUND
C
Statements of Assets, Liabilities, Reserves and Fund Balances -
Regulatory Basis
26
WATER UTILITY FUND
D
Statements of Assets, Liabilities, Reserves and Fund Balances -
Regulatory Basis
27
D-1
Statements of Operations and Changes in Fund Balance - Regulatory Basis
29
D-2
Statement of Revenues - Regulatory Basis
30
D-3
Statement of Expenditures - Regulatory Basis
31
SEWER UTILITY FUND
E
Statements of Assets, Liabilities, Reserves and Fund Balances -
Regulatory Basis
32
E-1
Sewer Utility Operating Fund - Statements of Operations and Changes
in Fund Balance - Regulatory Basis
34
E-2
Sewer Utility Operating Fund - Statement of Revenues - Regulatory Basis
35
E-3
Sewer Utility Operating Fund - Statement of Expenditures - Regulatory Basis
36
GENERAL FIXED ASSETS ACCOUNT GROUP
F
Statement of General Fixed Assets Account Group
37
Notes to Financial Statements
38
ii
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BOROUGH OF CLEMENTON
TABLE OF CONTENTS (CONT’D)
Exhibit No.
Page No.
SUPPLEMENTAL EXHIBITS
CURRENT FUND
SA-1
Statement of Current Cash per N.J.S.A. 40A:5-5 - Collector and Treasurer
58
SA-2
Schedule of Change Funds
60
SA-3
Statement of Petty Cash Funds
60
SA-4
Statement of Taxes Receivable and Analysis of Property Tax Levy
61
SA-5
Statement of Tax Title Liens Receivable
62
SA-6
Statement of Revenue Accounts Receivable
63
SA-7
Statement of Appropriation Reserves
64
SA-8
Statement of Due to/from State of New Jersey Veterans' and Senior
Citizens' Deductions
67
SA-9
Statement of Accounts Payable
67
SA-10
Statement of Prepaid Taxes
68
SA-11
Statement of Tax Overpayments
68
SA-12
Statement of Due to State of New Jersey-State Training Fees
69
SA-13
Statement of Due to State of New Jersey-Marriage and Civil Union Licenses and
Burial Permits
69
SA-14
Statement of County Taxes Payable
70
SA-15
Statement of Municipal Open Space Taxes Payable
70
SA-16
Statement of Due County for Added and Omitted Taxes
71
SA-17
Statement of Local District School Taxes
71
SA-18
Statement of Deferred Charges - N.J.S. 40A:4-55 Special Emergency
Authorizations
72
SA-19
Schedule of Special Emergency Notes Payable
73
SA-20
Statement of Reserve for Revaluation
74
SA-21
Federal and State Grant Fund - Statement of Contracts Payable
74
SA-22
Federal and State Grant Fund - Statement of Federal and State Grants
Receivable
75
SA-23
Federal and State Grant Fund - Statement of Reserve for Federal
and State Grants - Unappropriated
76
SA-24
Federal and State Grant Fund--Statement of Reserve for Federal
and State Grants - Appropriated
77
SA-25
Federal and State Grant Fund--Reserve for Encumbrances
78
TRUST FUND
SB-1
Statement of Trust Cash per N.J.S.A. 40A:5-5 - Treasurer and Collector
80
SB-2
Trust Animal Control Fund - Statement of Reserve for Animal Control
Expenditures
82
SB-3
Trust Animal Control Fund - Statement of Due to State of New Jersey
83
SB-4
Municipal Open Space Fund - Statement of Due to/from Current Fund
83
SB-5
Trust Other Fund - Statement of Due to Current Fund
84
SB-6
Trust Other Fund - Statement of Community Development Block Grant
Receivable
85
SB-7
Trust Other Fund - Statement of Reserve for Open Space, Recreation
Farmland and Historic Preservation
86
iii
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BOROUGH OF CLEMENTON
TABLE OF CONTENTS (CONT’D)
Exhibit No.
Page No.
TRUST FUND (CONT'D)
SB-8
Trust Other Fund - Statement of Reserve for Community Development
Block Grant Program
87
SB-9
Trust Other Fund - Statement of Reserve for Payroll Deductions Payable
88
SB-10
Trust Other Fund- - Statement of Reserve for Uniform Fire Safety Act
Penalties
89
SB-11
Trust Other Fund - Statement of Reserve for Parking Offenses
Adjudication Act
90
SB-12
Trust Other Fund - Statement of Reserve for Police Outside Employment
90
SB-13
Trust Other Fund - Statement of Reserve for DARE Program
91
SB-14
Trust Other Fund - Statement of Reserve for Municipal Forfeiture Fund
91
SB-15
Trust Other Fund - Statement of Reserve for New Jersey State
Unemployment Compensation Insurance
92
SB-16
Trust Other Fund - Statement of Reserve for Community Events
92
SB-17
Trust Other Fund - Statement of Reserve for Developer’s Escrow Deposits
93
SB-18
Trust Other Fund - Statement of Reserve for Public Defender Fees
93
SB-19
Trust Other Fund - Statement of Reserve for Redemption of Tax Sale
Certificates
94
SB-20
Trust Other Fund - Statement of Premiums Received at Tax Sales
94
SB-21
Trust Other Fund - Statements of Contracts Payable
95
SB-22
Trust Other Fund - Statement of Reserve for Federal Drug Enforcement Fund
95
SB-23
Trust Other Fund - Statement of Reserve for Street Openings
96
SB-24
Trust Other Fund - Statement of Other Accounts Receivable
96
GENERAL CAPITAL FUND
SC-1
Statement of General Capital Cash per N.J.S.40A:5-5 - Treasurer
98
SC-2
Analysis of General Capital Cash
99
SC-3
Statement of Deferred Charges to Future Taxation - Unfunded
101
SC-4
Statement of Deferred Charges to Future Taxation - Funded
102
SC-5
Statement of Due to/from Current Fund
102
SC-6
Statement of Improvement Authorizations
103
SC-7
Statement of Reserve for Encumbrances
104
SC-8
Statement of Due from Trust Other Fund
104
SC-9
Statement of Capital Improvement Fund
105
SC-10
Statement of Contracts Payable
105
SC-11
Statement of Reserve for Payment of Bonds and Loans
106
SC-12
Statement of Bond Anticipation Notes
107
SC-13
Statement of New Jersey Environmental Trust Loans Payable
108
SC-14
Statement of General Serial Bonds
109
SC-15
Statement of Bonds and Notes Authorized But Not Issued
110
WATER UTILITY FUND
SD-1
Statement of Water Utility Cash and Investments per
N.J.S.A. 40A: 5-5-Treasurer
112
SD-2
Water Utility Operating Fund--Statement of Water Utility Cash per
N.J.S.A. 40A: 5-5-Water Collector
113
SD-3
Water Utility Capital Fund - Analysis of Water Utility Capital Cash
114
SD-4
Water Utility Operating Fund - Schedule of Change Funds
115
SD-5
Water Utility Capital Fund - Statement of Due to/from Water Utility
Operating Fund
115
SD-6
Water Utility Operating Fund - Statement of Consumer Accounts Receivable
116
SD-7
Water Utility Operating Fund - Statement of Water Utility Liens Receivable
116
iv
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BOROUGH OF CLEMENTON
TABLE OF CONTENTS (CONT’D)
Exhibit No.
Page No.
WATER UTILITY FUND (CONT’D)
SD-8
Water Utility Capital Fund - Statement of Fixed Capital
117
SD-9
Water Utility Capital Fund - Statement of Fixed Capital Authorized and
Uncompleted
119
SD-10
Water Utility Operating Fund - Statement of Appropriation Reserves
120
SD-11
Water Utility Operating Fund - Statement of Water Rental Overpayments
121
SD-12
Water Utility Operating Fund - Statement of Water Rental Prepayments
121
SD-13
Water Utility Capital Fund - Statement of Improvement Authorizations
122
SD-14
Water Utility Operating Fund - Statement of Due to/from Current Fund
123
SD-15
Water Utility Capital Fund - Statement of Contracts Payable
123
SD-16
Water Utility Operating Fund - Statement of Interest on Bonds and Notes
and Analysis of Balance
124
SD-17
Water Utility Capital Fund - Statement of Reserve for Amortization
125
SD-18
Water Utility Capital Fund - Statement of Capital Improvement Fund
125
SD-19
Water Utility Capital Fund - Statement of Deferred Reserve for Amortization
126
SD-20
Water Utility Capital Fund - Statement of Bond Anticipation Notes
127
SD-21
Water Utility Capital Fund - Statement of Water Utility Serial Bonds
128
SD-22
Water Utility Capital Fund - Schedule of Bonds and Notes Authorized But
Not Issued
129
SEWER UTILITY FUND
SE-1
Statement of Sewer Utility Cash and Investments per
N.J.S.A. 40A:5-5 - Treasurer
131
SE-2
Sewer Utility Operating Fund - Statement of Sewer Utility Cash per
N.J.S.A. 40A:5 - Sewer Collector
132
SE-3
Sewer Utility Capital Fund - Analysis of Sewer Utility Capital
Cash and Investments
133
SE-4
Sewer Utility Operating Fund - Schedule of Change Funds
134
SE-5
Sewer Utility Operating Fund - Statement of Due to/from Current Fund
134
SE-6
Sewer Utility Operating Fund - Statement of Consumer Accounts Receivable
135
SE-7
Sewer Utility Operating Fund - Statement of Sewer Utility Liens Receivable
136
SE-8
Sewer Utility Operating Fund - Statement of Due from Water Utility
Capital Fund
136
SE-9
Sewer Utility Capital Fund - Statement of Due to Sewer Operating Fund
137
SE-10
Sewer Utility Operating Fund - Statement of Appropriation Reserves
137
SE-11
Sewer Utility Capital Fund - Statement of Fixed Capital
138
SE-12
Sewer Utility Capital Fund - Statement of Fixed Capital Authorized and
Uncompleted
139
SE-13
Sewer Utility Operating Fund - Statement of Sewer Rental Overpayments
140
SE-14
Sewer Utility Operating Fund - Statement of Sewer Rental Prepayments
140
SE-15
Sewer Utility Capital Fund - Statement of Improvement Authorizations
141
SE-16
Sewer Utility Operating Fund - Statement of Interest on Bonds and Notes
and Analysis of Balance
142
SE-17
Sewer Utility Capital Fund - Statement of Deferred Reserve for Amortization
143
SE-18
Sewer Utility Capital Fund - Statement of Reserve for Amortization
144
SE-19
Sewer Utility Capital Fund - Statement of Contracts Payable
144
SE-20
Sewer Utility Capital Fund - Statement of Capital Improvement Fund
144
SE-21
Sewer Utility Capital Fund - Statement of Sewer Utility Serial Bonds
145
SE-22
Sewer Utility Capital Fund - Statement of Bonds Anticipation Notes
146
SE-23
Sewer Utility Capital Fund - Statement of Bonds and Notes Authorized
But Not Issued
147
v
11600
BOROUGH OF CLEMENTON
TABLE OF CONTENTS (CONT’D)
Exhibit No.
Page No.
PART 2
Schedule of Findings and Recommendations
149
Summary Schedule of Prior Year Audit Findings and Recommendations
as Prepared by Management
153
OFFICIALS IN OFFICE AND SURETY BONDS
155
APPRECIATION
156
BOROUGH OF CLEMENTON
PART I
REPORT OF AUDIT OF FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2014
INDEPENDENT AUDITOR'S REPORT
The Honorable Mayor and
Members of the Borough Council
Borough of Clementon
Clementon, New Jersey 08021
Report on the Financial Statements
We have audited the accompanying statements of assets, liabilities, reserves and fund balance - regulatory basis
of the various funds of the Borough of Clementon, in the County of Camden, State of New Jersey, as of
December 31, 2014 and 2013, and the related statements of operations and changes in fund balance - regulatory
basis for the years then ended, and the related statement of revenues - regulatory basis, statement of
expenditures - regulatory basis, and statement of general fixed assets group of accounts for the year ended
December 31, 2014 and the related notes to the financial statements, which collectively comprise the Borough’s
basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with the financial reporting provisions of the Division of Local Government Services, Department of Community
Affairs, State of New Jersey. Management is also responsible for the design, implementation, and maintenance
of internal control relevant to the preparation and fair presentation of financial statements that are free from
material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our
audit in accordance with auditing standards generally accepted in the United States of America; the standards
applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of
the United States; and in compliance with audit requirements as prescribed by the Division of Local Government
Services, Department of Community Affairs, State of New Jersey. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Borough’s preparation and fair presentation of
the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for
the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express
no such opinion.
An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
2
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Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles
As described in Note 1 of the financial statements, the financial statements are prepared by the Borough on the
basis of the financial reporting provisions of the Division of Local Government Services, Department of
Community Affairs, State of New Jersey, which is a basis of accounting other than accounting principles generally
accepted in the United States of America, to meet the requirements of the State of New Jersey.
The effects on the financial statements of the variances between the regulatory basis of accounting described in
Note 1 and accounting principles generally accepted in the United States of America, although not reasonably
determinable, are presumed to be material.
Adverse Opinion on U.S. Generally Accepted Accounting Principles
In our opinion, because of the significance of the matter discussed in the “Basis for Adverse Opinion on U.S.
Generally Accepted Accounting Principles” paragraph, the financial statements referred to above do not present
fairly, in accordance with accounting principles generally accepted in the United States of America, the financial
position of the Borough of Clementon, in the County of Camden, State of New Jersey, as of December 31, 2014
and 2013, or the results of its operations and changes in fund balance for the years then ended.
Opinion on Regulatory Basis of Accounting
In our opinion, the financial statements referred to previously present fairly, in all material respects, the assets,
liabilities, reserves and fund balance - regulatory basis of the various funds of the Borough of Clementon, in the
County of Camden, State of New Jersey, as of December 31, 2014 and 2013, and the results of its operations
and changes in fund balance - regulatory basis of such funds for the years then ended, and the revenues -
regulatory basis, expenditures - regulatory basis of the various funds, and general fixed assets, for the year ended
December 31, 2014 in conformity with accounting principles and practices prescribed by the Division of Local
Government Services, Department of Community Affairs, State of New Jersey, as described in Note 1.
Other Information
Our audits were conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Borough’s basic financial statements. The supplemental financial statements presented for the
various funds are presented for purposes of additional analysis as required by the Division of Local Government
Services, Department of Community Affairs, State of New Jersey, and are not a required part of the basic
financial statements.
The supplementary financial statements presented for the various funds are the responsibility of management and
were derived from and relate directly to the underlying accounting and other records used to prepare the financial
statements. Such information has been subjected to the auditing procedures applied in the audit of the basic
financial statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the basic financial statements or to the
basic financial statements themselves, and other additional procedures in accordance with auditing standards
generally accepted in the United States of America.
In our opinion, the information described in the previous
paragraph is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.
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Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 16, 2015 on our
consideration of the Borough of Clementon’s, in the County of Camden, State of New Jersey, internal control over
financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and
grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal
control over financial reporting and compliance and the results of that testing, and not to provide an opinion on
internal control over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the Borough of Clementon’s internal control over
financial reporting.
Respectfully submitted,
BOWMAN & COMPANY LLP
Certified Public Accountants
& Consultants
Todd R. Saler
Certified Public Accountant
Registered Municipal Accountant
Voorhees, New Jersey
June 16, 2015
4
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE
AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITOR'S REPORT
The Honorable Mayor and
Members of the Borough Council
Borough of Clementon
Clementon, New Jersey 08021
We have audited, in accordance with the auditing standards generally accepted in the United States of America;
the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States; and the audit requirements as prescribed by the Division of Local
Government Services, Department of Community Affairs, State of New Jersey, the financial statements prepared
on a regulatory basis of accounting prescribed by the Division of Local Government Services, Department of
Community Affairs, State of New Jersey of the Borough of Clementon, in the County of Camden, State of New
Jersey, as of and for the year ended December 31, 2014, and the related notes to the financial statements,
which collectively comprise the Borough’s basic financial statements, and have issued our report thereon dated
June 16, 2015. That report indicated that the Borough of Clementon's financial statements were not prepared in
accordance with accounting principles generally accepted in the United States of America, but were prepared on
a regulatory basis of accounting prescribed by the Division of Local Government Services, Department of
Community Affairs, State of New Jersey.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Borough of Clementon's
internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in
the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose
of expressing an opinion on the effectiveness of the Borough’s internal control. Accordingly, we do not express
an opinion on the effectiveness of Borough of Clementon's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or
significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not
identified. Given these limitations, during our audit we did not identify any deficiencies in internal control that we
consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
We did identify certain deficiencies in internal control, described in the accompanying Schedule of Findings and
Recommendations that we consider to be significant deficiencies: 2014-001 and 2014-004.
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Compliance and Other Matters
As part of obtaining reasonable assurance about whether Borough of Clementon's financial statements are free
from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of
our tests disclosed instances of noncompliance or other matters that are required to be reported under
Government Auditing Standards or audit requirements as prescribed by the Division of Local Government
Services, Department of Community Affairs, State of New Jersey and which are described in the accompanying
Schedule of Findings and Recommendation as items 2014-001, 2014-002, 2014-003 and 2014-004.
The Borough of Clementon’s Response to Findings
The Borough of Clementon’s response to the findings identified in our audit is described in the accompanying
Schedule of Findings and Recommendations. The Borough’s response was not subjected to the auditing
procedures applied in the audit of the financial statements and, accordingly, we express no opinion on it.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the results of that testing, and not to provide an opinion on the effectiveness of the Borough’s internal control or
on compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards and audit requirements as prescribed by the Division of Local Government Services, Department of
Community Affairs, State of New Jersey in considering the Borough’s internal control and compliance.
Accordingly, this communication is not suitable for any other purpose.
Respectfully submitted,
BOWMAN & COMPANY LLP
Certified Public Accountants
& Consultants
Todd R. Saler
Certified Public Accountant
Registered Municipal Accountant
Voorhees, New Jersey
June 16, 2015
6
Exhibit A
BOROUGH OF CLEMENTON
CURRENT FUND
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
Ref.
2014
2013
ASSETS
Regular Fund:
Cash--Treasurer
SA-1
1,279,796.37
$
1,294,102.31
$
Cash--Change Funds
SA-2
75.00
75.00
Due to State of New Jersey:
Veterans' and Senior Citizens' Deductions
SA-8
2,989.13
1,279,871.37
1,297,166.44
Receivables and Other Assets with Full Reserves:
Taxes Receivable
SA-4
408,962.55
351,084.85
Tax Title Liens Receivable
SA-5
108,970.27
87,336.83
Property Acquired for Taxes - Assessed Valuation
935,200.00
935,200.00
Revenue Accounts Receivable
SA-6
22,389.59
22,174.99
Prepaid Expenses
A-3
13,809.51
Due from Federal and State Grant Fund
SA-1
51,063.52
Due from Animal Control Fund
SA-1
2,472.27
Due from Trust Other Fund
SB-5
19,144.92
19,568.84
Due from General Capital Fund
SC-5
1,009.40
Due from Municipal Open Space Trust Fund
SB-4
81.98
Due from Water Utility Operating Fund
SD-14
3,621.61
1,546,822.23
1,435,268.90
Deferred Charges:
Special Emergency Authorizations
SA-18
51,892.00
Overexpenditure of Appropriations
A-3
10,500.00
-
62,392.00
2,826,693.60
2,794,827.34
Federal and State Grant Fund:
Cash--Treasurer
SA-1
5,765.98
1,064.42
Due from Trust Other Fund
SA-1
19,222.34
Federal and State Grants Receivable
SA-22
238,005.16
211,952.15
262,993.48
213,016.57
3,089,687.08
$
3,007,843.91
$
(Continued)
11600
7
Exhibit A
BOROUGH OF CLEMENTON
CURRENT FUND
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
Ref.
2014
2013
11600
LIABILITIES, RESERVES AND FUND BALANCE
Regular Fund:
Appropriation Reserves
A-3; SA-7
279,507.92
$
286,259.75
$
Reserve for Encumbrances
A-3; SA-7
129,475.58
115,734.10
Due to State of New Jersey:
Veterans' and Senior Citizens' Deductions
SA-8
675.39
Accounts Payable
SA-9
2,775.40
500.00
Prepaid Taxes
SA-10
69,163.74
100,330.47
Tax Overpayments
SA-11
30,977.95
20,639.60
Due to State of New Jersey:
State Training Fees
SA-12
522.00
235.00
Marriage & Civil Union Fees and Burial Permits
SA-13
150.00
150.00
Due County for Added and Omitted Taxes
SA-16
723.03
1,219.92
Special Emergency Note Payable
SA-19
51,892.00
51,892.00
Reserve for Revaluation
SA-20
83,591.90
88,239.40
Due to Municipal Open Space Trust Fund
SB-4
57,665.72
Due to General Capital Fund
SC-5
83,510.77
Due to Water Utility Operating Fund
SD-14
2.41
Due to Sewer Utility Operating Fund
SE-5
4,664.69
Reserve for Fire Hall Roof
4,000.00
4,000.00
Reserve for Library Aid
559.00
559.00
Road Appropriation Reserves--State Aid Projects
4,237.99
4,237.99
658,254.31
819,838.41
Reserves for Receivables
A
1,546,822.23
1,435,268.90
Fund Balance
A-1
621,617.06
539,720.03
2,826,693.60
2,794,827.34
Federal and State Grant Fund:
Reserve for Federal and State Grants:
Unappropriated
SA-23
25,173.88
17,485.46
Appropriated
SA-24
138,915.17
107,100.04
Reserve for Encumbrances
SA-25
3,345.00
821.87
Due to Current Fund
SA-1
51,063.52
Contracts Payable
SA-21
44,495.91
87,609.20
262,993.48
213,016.57
3,089,687.08
$
3,007,843.91
$
The accompanying Notes to Financial Statements are an integral part of this statement.
8
Exhibit A-1
BOROUGH OF CLEMENTON
CURRENT FUND
Statements of Operations and Changes in Fund Balance - Regulatory Basis
For the Years Ended December 31, 2014 and 2013
2014
2013
Revenue and Other Income Realized:
Fund Balance Utilized
390,025.00
$
50,000.00
$
Miscellaneous Revenues Anticipated
1,131,102.97
1,664,759.56
Receipts from Delinquent Taxes
356,057.05
391,705.45
Receipts from Current Taxes
9,895,266.25
9,691,532.22
Nonbudget Revenues
37,356.10
92,740.11
Other Credits to Income:
Unexpended Balance of Appropriation Reserves
256,523.39
212,592.69
Cancelation of Tax Overpayments
2,374.04
Cancelation of Accounts Payable
2,329.25
Liquidation of Reserves for:
Prepaid Expense
13,809.51
Interfunds:
Due Animal Control Fund
2,472.27
Due Trust Other Fund
423.92
36,516.60
Due General Capital Fund
7,897.01
Due Sewer Utility Operating Fund
90.98
Due Water Utility Operating Fund
3,621.61
12,086,658.07
12,152,537.91
Expenditures:
Budget and Emergency Appropriations:
Appropriations Within "CAPS"
Operations:
Salaries and Wages
1,758,811.00
1,754,266.00
Other Expenses
1,880,804.00
1,859,973.00
Deferred Charges and Statutory Expenditures
473,718.00
435,933.00
Appropriations Excluded from "CAPS"
Operations:
Salaries and Wages
87,344.00
282,330.00
Other Expenses
68,077.96
98,635.88
Municipal Debt Service
446,409.28
426,264.28
Deferred Charges
51,892.00
51,894.00
(Continued)
11600
9
Exhibit A-1
BOROUGH OF CLEMENTON
CURRENT FUND
Statements of Operations and Changes in Fund Balance - Regulatory Basis
For the Years Ended December 31, 2014 and 2013
2014
2013
11600
Expenditures (Cont'd):
County Taxes
2,294,134.04
$
2,340,206.16
$
Municipal Open Space Taxes
57,235.28
57,665.72
Due County for Added and Omitted Taxes
723.03
1,219.92
Local District School Tax
4,424,037.00
4,290,262.00
Senior Citizens Deductions Disallowed--Prior Year Taxes
5,750.00
3,000.00
Refund of Prior Year Revenue
13,645.55
6,594.68
Creation of Reserves:
Prepaid Expenses
13,809.51
Due Federal and State Grant Fund
51,063.52
Due Animal Control Fund
2,472.27
Due Municipal Open Space Trust Fund
81.98
Due General Capital Fund
1,009.40
Due Water Utility Operating Fund
3,527.43
11,614,736.04
11,628,053.85
Excess/(Deficit) in Revenues
471,922.03
524,484.06
Adjustments to Income before Fund Balance:
Expenditures included above which are by Statute
Deferred Charges to Budget of Succeeding Year
-
10,500.00
Statutory Excess to Fund Balance
471,922.03
534,984.06
Fund Balance January 1
539,720.03
54,735.97
1,011,642.06
589,720.03
Decreased by:
Utilization as Anticipated Revenue
390,025.00
50,000.00
Fund Balance December 31
621,617.06
$
539,720.03
$
The accompanying Notes to Financial Statements are an integral part of this statement.
10
Exhibit A-2
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Revenues - Regulatory Basis
For the Year Ended December 31, 2014
Anticipated
Special
Excess or
Budget
N.J.S.A. 40A:4-87
Realized
(Deficit)
Fund Balance Anticipated
390,025.00
$
-
390,025.00
$
-
Miscellaneous Revenues:
Licenses:
Alcoholic Beverages
6,900.00
6,993.00
93.00
$
Other
30,000.00
49,244.00
19,244.00
Fees and Permits
84,000.00
100,628.05
16,628.05
Fines and Costs:
Municipal Court
84,000.00
90,728.48
6,728.48
Interest and Costs on Taxes
70,000.00
110,478.57
40,478.57
Consolidated Municipal Property Tax Relief Aid
48,786.00
48,786.00
Energy Receipts Tax (P.L. 1997, Chapters 162 & 167)
381,794.00
381,794.00
Uniform Construction Code Fees
23,500.00
39,608.00
16,108.00
Public and Private Revenues Offset With Appropriations:
Clean Communities Program
9,554.54
9,554.54
Municipal Alliance on Alcoholism and Drug Abuse
9,546.00
9,546.00
Body Armor Replacement Fund
1,755.82
1,755.82
Adopt a Road Mini Grant
500.00
500.00
Recycling Tonnage Grant
5,675.10
5,675.10
Safe and Secure Communities Program
31,274.00
31,274.00
Camden County Open Space Grant
25,000.00
25,000.00
(Continued)
11600
11
Exhibit A-2
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Revenues - Regulatory Basis
For the Year Ended December 31, 2014
Anticipated
Special
Excess or
Budget
N.J.S.A. 40A:4-87
Realized
(Deficit)
11600
Miscellaneous Revenues (Cont'd):
Special Items of General Revenue Anticipated with Prior Written
Consent of Director of Local Government Services:
Water Utility Operating Surplus of Prior Year
40,000.00
$
40,000.00
$
Uniform Fire Safety Act Fees
25,000.00
29,073.61
4,073.61
$
Reserve for Payment Debt
70,463.80
70,463.80
Sewer Utility Operating Surplus of Prior Year
80,000.00
80,000.00
Total Miscellaneous Revenues
1,027,749.26
-
1,131,102.97
103,353.71
Receipts from Delinquent Taxes
285,000.00
-
356,057.05
71,057.05
Subtotal General Revenues
1,702,774.26
-
1,877,185.02
174,410.76
Amount to be Raised by Taxes for Support of Municipal Budget--
Local Tax for Municipal Purposes Including Reserve for Uncollected Taxes
3,557,634.74
-
3,601,583.94
43,949.20
Budget Totals
5,260,409.00
-
5,478,768.96
218,359.96
Nonbudget Revenues
-
-
37,356.10
37,356.10
5,260,409.00
$
-
$
5,516,125.06
$
255,716.06
$
(Continued)
12
Exhibit A-2
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Revenues - Regulatory Basis
For the Year Ended December 31, 2014
Analysis of Realized Revenue:
Allocation of Current Tax Collections:
Revenue from Collections
9,895,266.25
$
Allocated to:
School, County and Municipal Open Space Taxes
6,776,129.35
Balance for Support of Municipal Budget Revenues
3,119,136.90
Add:
Appropriation: "Reserve for Uncollected Taxes"
482,447.04
Amount for Support of Municipal Budget Appropriations
3,601,583.94
$
Receipts from Delinquent Taxes:
Tax Title Lien Collections
9,372.10
$
Delinquent Tax Collections
346,684.95
356,057.05
$
Licenses--Other:
Mercantile
4,105.00
$
Rental Registration
45,139.00
49,244.00
$
Fees and Permits:
Tower Rental Fees
63,107.80
$
Registrar Fees
14,326.00
Apartment Code Inspection
4,510.00
Certificates of Occupancy Fees
3,081.00
Cable Franchise Fees
15,603.25
100,628.05
$
(Continued)
11600
13
Exhibit A-2
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Revenues - Regulatory Basis
For the Year Ended December 31, 2014
11600
Analysis of Non-Budget Revenue:
Miscellaneous Revenue not Anticipated:
Revenue Accounts Receivable:
Interest Earned on Deposits:
Collected
1,797.88
$
Interfunds Receivable
1,731.86
Police Department:
Accident Reports
5.98
Gun Permits
162.00
3,697.72
$
Treasurer:
Street Openings
675.00
Towing Permits
700.00
Taxi Permits
150.00
Vending Machines
570.00
Planning and Zoning Fees
440.00
Discovery Fees
80.62
Animal Permits/Vicious Dog Fees
1.00
Sale of Assets
1,500.00
Amusement Games
500.00
Duplicate Copies
45.30
Swimming Pool Permits
280.00
Yard Sale Permit
99.00
Variances
2,360.00
Recycling Rebates
4,555.61
Premiums
2,600.00
Facility Rental
6,350.00
DMV Inspection Fines
112.00
Subdivision
650.00
Administrative Fee--Senior Citizens' and Veterans Deductions
1,260.04
Mercantile Late Fees
525.00
Miscellaneous
6,464.01
29,917.58
Due Trust Other Funds:
Administrative Fees--Police Outside Services
3,740.80
37,356.10
$
The accompanying Notes to Financial Statements are an integral part of this statement.
14
Exhibit A-3
CURRENT FUND
Statement of Expenditures - Regulatory Basis
For the Year Ended December 31, 2014
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
OPERATIONS WITHIN "CAPS"
GENERAL GOVERNMENT:
Mayor and Council
Salaries and Wages
26,000.00
$
26,000.00
$
25,999.00
$
1.00
$
Other Expenses
1,450.00
3,950.00
1,474.00
1,947.42
$
528.58
Municipal Clerk
Salaries and Wages
133,875.00
126,775.00
123,223.21
3,551.79
Other Expenses
16,300.00
16,300.00
13,745.74
1,361.17
1,193.09
Elections
Other Expenses
3,250.00
3,250.00
2,973.50
276.50
Financial Administration
Salaries and Wages
45,100.00
46,600.00
45,384.37
1,215.63
Other Expenses
30,850.00
33,350.00
28,490.38
4,859.62
Audit Services
Other Expenses
27,200.00
27,200.00
27,200.00
Assessment of Taxes
Salaries and Wages
10,000.00
10,000.00
10,000.00
Other Expenses
3,425.00
2,925.00
1,655.66
80.40
1,188.94
Collection of Taxes
Salaries and Wages
61,540.00
64,040.00
63,642.65
397.35
Other Expenses
7,075.00
7,575.00
6,604.23
970.77
Liquidation of Tax Title Liens and Foreclosed Property
Other Expenses
50.00
50.00
50.00
Legal Services and Costs
Other Expenses:
Miscellaneous Expenses
50,000.00
31,000.00
18,554.62
12,445.38
Municipal Prosecutor
Other Expenses
8,500.00
8,500.00
7,791.63
708.37
Engineering Services and Costs
Other Expenses
25,000.00
17,500.00
11,744.25
65.00
5,690.75
Maintenance of Foreclosed Property
Other Expenses
500.00
500.00
453.68
46.32
Public Buildings and Grounds
Other Expenses
18,300.00
18,800.00
11,942.13
1,349.97
5,507.90
Economic Development
Other Expenses
6,000.00
6,000.00
348
5,652.00
(Continued)
11600
Appropriations
Expended
BOROUGH OF CLEMENTON
15
Exhibit A-3
CURRENT FUND
Statement of Expenditures - Regulatory Basis
For the Year Ended December 31, 2014
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
11600
Appropriations
Expended
BOROUGH OF CLEMENTON
OPERATIONS WITHIN "CAPS"
GENERAL GOVERNMENT:
Historic Commission
Other Expenses
300.00
$
300.00
$
300.00
$
Administrative
Salaries and Wages
11,750.00
13,500.00
13,256.08
$
243.92
Other Expenses
8,400.00
8,400.00
8,332.55
67.45
LAND USE ADMINISTRATION:
Planning Board
Salaries and Wages
12,000.00
12,000.00
10,865.00
1,135.00
Other Expenses
1,700.00
1,700.00
1,376.59
24.40
$
299.01
Shade Tree Commission
Other Expenses
1,250.00
1,250.00
663.00
587.00
Environmental Commission (N.J.S. 40:56A-1 et seq.)
Other Expenses
325.00
325.00
10.00
315.00
PUBLIC SAFETY:
Fire
Salaries and Wages
4,422.00
4,522.00
4,272.52
249.48
Other Expenses:
Miscellaneous Other Expenses
45,775.00
45,775.00
14,651.02
9,789.12
21,334.86
Police
Salaries and Wages
1,154,734.00
1,144,984.00
1,114,306.24
30,677.76
Other Expenses
104,675.00
97,675.00
52,153.61
13,244.90
32,276.49
Municipal Court
Salaries and Wages
91,150.00
93,150.00
92,889.82
260.18
Other Expenses
19,750.00
19,750.00
15,069.60
199.94
4,480.46
Public Defender
Other Expenses
4,600.00
4,600.00
137.79
4,462.21
First Aid
Contribution to Pine Hill
8,100.00
8,100.00
7,337.00
667.00
96.00
Office of Emergency Management
Salaries and Wages
1,025.00
1,025.00
1,025.00
Other Expenses
250.00
250.00
250.00
Uniform Fire Safety Code (Ch. 383 P.L. 1985)
Fire Official
Salaries and Wages
14,325.00
14,325.00
14,325.00
Other Expenses
11,150.00
11,150.00
8,177.15
1,943.03
1,029.82
(Continued)
16
Exhibit A-3
CURRENT FUND
Statement of Expenditures - Regulatory Basis
For the Year Ended December 31, 2014
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
11600
Appropriations
Expended
BOROUGH OF CLEMENTON
OPERATIONS WITHIN "CAPS"
PUBLIC WORKS:
Streets and Roads
Salaries and Wages
75,300.00
$
75,300.00
$
66,143.74
$
9,156.26
$
Other Expenses
32,100.00
32,100.00
21,430.97
7,436.22
$
3,232.81
Solid Waste Collection
Other Expenses
187,000.00
187,000.00
161,318.46
25,681.54
Vehicle Maintenance
15,000.00
15,000.00
8,513.37
2,480.00
4,006.63
HEALTH AND HUMAN SERVICES:
Board of Health
Other Expenses
500.00
500.00
500.00
Animal Control
Other Expenses
22,000.00
22,000.00
17,000.00
5,000.00
Registrar of Vital Statistics
Salaries and Wages
1,881.00
1,881.00
1,881.00
Services of Visiting Nurse
Other Expenses
100.00
100.00
100.00
Administration of Public Assistance
Other Expenses
1.00
1.00
1.00
PARKS AND RECREATION:
Parks and Playgrounds
Other Expenses
5,500.00
5,500.00
4,823.42
613.89
62.69
Celebration of Public Events, Holidays, or Anniversaries
Other Expenses
4,000.00
5,500.00
4,763.58
183.60
552.82
OTHER COMMON OPERATING FUNCTIONS:
Compensated Absences
100.00
100.00
100.00
INSURANCE:
General Liability
219,000.00
219,000.00
219,000.00
Workers Compensation
2,000.00
2,000.00
2,000.00
Employee Group Health
609,440.00
609,440.00
529,386.52
65,674.82
14,378.66
Unemployment Insurance
15,000.00
30,000.00
30,000.00
Health Benefit Waiver
7,700.00
7,700.00
4,696.67
3,003.33
LANDFILL/SOLID WASTE DISPOSAL:
Landfill/Solid Waste
127,600.00
127,600.00
102,255.40
8,661.60
16,683.00
(Continued)
17
Exhibit A-3
CURRENT FUND
Statement of Expenditures - Regulatory Basis
For the Year Ended December 31, 2014
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
11600
Appropriations
Expended
BOROUGH OF CLEMENTON
OPERATIONS WITHIN "CAPS" (CONT'D)
CODE ENFORCEMENT AND ADMINISTRATION:
Construction Official
Salaries and Wages
27,500.00
$
27,500.00
$
22,843.63
$
4,656.37
$
Other Expenses
4,700.00
4,700.00
1,702.20
2,997.80
Fire Inspector
Salaries and Wages
4,958.00
4,958.00
3,457.60
1,500.40
Plumbing Inspector
Salaries and Wages
6,251.00
6,251.00
4,750.92
1,500.08
Electrical Inspector
Salaries and Wages
6,900.00
6,900.00
5,387.28
1,512.72
Code Enforcement Officer
Salaries and Wages
77,600.00
79,100.00
78,555.63
544.37
Other Expenses
2,588.00
2,588.00
687.64
380.00
$
1,520.36
Utility Expenses and Bulk Purchases
Oil
11,000.00
11,500.00
11,305.65
194.35
Telephone
32,500.00
33,000.00
30,748.83
1,194.22
1,056.95
Street Lighting
86,800.00
98,800.00
88,820.78
9,042.40
936.82
Maintenance of Traffic Lights
5,000.00
5,000.00
1,835.87
3,164.13
Gasoline
57,000.00
57,000.00
38,157.19
2,703.40
16,139.41
Electric Utility
31,000.00
27,000.00
22,073.95
4,926.05
Hydrant
100.00
100.00
100.00
Sewer
1,300.00
1,300.00
1,300.00
Total Operations Within "CAPS"
3,649,515.00
3,639,515.00
3,242,915.32
129,042.50
267,557.18
-
Contingent
100.00
100.00
-
-
100.00
-
Total Operations Including Contingent - within "CAPS"
3,649,615.00
3,639,615.00
3,242,915.32
129,042.50
267,657.18
-
Detail:
Salaries and Wages
1,766,311.00
1,758,811.00
1,702,208.69
56,602.31
Other Expenses (Including Contingent)
1,883,304.00
1,880,804.00
1,540,706.63
129,042.50
211,054.87
(Continued)
18
Exhibit A-3
CURRENT FUND
Statement of Expenditures - Regulatory Basis
For the Year Ended December 31, 2014
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
11600
Appropriations
Expended
BOROUGH OF CLEMENTON
DEFERRED CHARGES AND STATUTORY
EXPENDITURES - MUNICIPAL WITHIN "CAPS":
Deferred Charges:
Overexpenditures of Current Year Appropriations
10,500.00
$
10,500.00
$
10,500.00
$
Statutory Expenditures:
Contribution to:
Social Security System (O.A.S.I.)
147,000.00
147,000.00
138,034.77
8,965.23
$
Public Employees' Retirement System
101,323.00
111,323.00
109,608.13
1,714.87
Defined Contribution Retirement System
1.00
1.00
1.00
Police and Fireman's Retirement System of NJ
204,894.00
204,894.00
204,894.00
Total Deferred Charges and Statutory Expenditures
Municipal--Within "CAPS"
463,718.00
473,718.00
463,036.90
-
10,681.10
-
Total General Appropriations for Municipal
Purposes Within "CAPS"
4,113,333.00
4,113,333.00
3,705,952.22
129,042.50
$
278,338.28
-
OPERATIONS EXCLUDED FROM "CAPS"
Recycling Tax
6,600.00
6,600.00
4,997.28
433.08
1,169.64
INSURANCE
Employee Group Health
7,060.00
7,060.00
7,060.00
Public and Private Programs Offset by Revenues:
Recycling Tonnage Grant
5,675.10
5,675.10
5,675.10
Clean Communities Program
9,554.54
9,554.54
9,554.54
Municipal Alliance on Alcoholism and Drug Abuse
State Share
9,546.00
9,546.00
9,546.00
Borough Share
2,386.50
2,386.50
2,386.50
Safe and Secure Communities Program
State Share
31,274.00
31,274.00
31,274.00
Borough Share
56,070.00
56,070.00
56,070.00
Body Armor Replacement
1,755.82
1,755.82
1,755.82
Adopt a Road Mini Grant
500.00
500.00
500.00
Camden County Open Space
25,000.00
25,000.00
25,000.00
Total Operations--Excluded from "CAPS"
155,421.96
155,421.96
153,819.24
433.08
1,169.64
-
(Continued)
19
Exhibit A-3
CURRENT FUND
Statement of Expenditures - Regulatory Basis
For the Year Ended December 31, 2014
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
11600
Appropriations
Expended
BOROUGH OF CLEMENTON
Detail:
Salaries and Wages
87,344.00
$
87,344.00
$
87,344.00
$
Other Expenses
68,077.96
68,077.96
66,475.24
433.08
$
1,169.64
$
MUNICIPAL DEBT SERVICE - EXCLUDED FROM "CAPS"
Payment of Bond Principal
305,910.00
305,910.00
305,907.21
2.79
$
Payment of Bond Anticipation Notes and Capital Notes
10,000.00
10,000.00
10,000.00
Interest on Bonds
132,175.00
132,175.00
131,272.07
902.93
Interest on Notes
9,230.00
9,230.00
9,230.00
Total Municipal Debt Service--Excluded from "CAPS"
457,315.00
457,315.00
446,409.28
-
-
10,905.72
DEFERRED CHARGES- MUNICIPAL - EXCLUDED FROM "CAPS"
Special Emergency Authorizations - 5 years (NJS 40A:4-55)
51,892.00
51,892.00
51,892.00
-
-
-
Total Deferred Charges - Municipal - Excluded from "CAPS"
51,892.00
51,892.00
51,892.00
-
-
-
Total General Appropriations for Municipal Purposes
Excluded from "CAPS"
664,628.96
664,628.96
652,120.52
433.08
1,169.64
10,905.72
Subtotal General Appropriations
4,777,961.96
4,777,961.96
4,358,072.74
129,475.58
279,507.92
10,905.72
Reserve for Uncollected Taxes
482,447.04
482,447.04
482,447.04
-
-
-
Total General Appropriations
5,260,409.00
$
5,260,409.00
$
4,840,519.78
129,475.58
$
279,507.92
$
10,905.72
$
Federal and State Grants - Appropriated
141,761.96
$
Deferred Charges:
Special Emergency Authorizations
51,892.00
Prepaid Expense Realized
13,809.51
Accounts Payable
1,375.40
Reserve for Uncollected Taxes
482,447.04
Disbursed
4,138,733.87
4,840,519.78
$
The accompanying Notes to Financial Statements are an integral part of this statement.
20
Exhibit B
Ref.
2014
2013
ASSETS
Animal Control Fund:
Cash
SB-1
383.81
$
6,266.57
$
383.81
6,266.57
Other Funds:
Cash
SB-1
583,498.90
558,548.06
Due from State of New Jersey
1,190.79
1,190.79
Due from Sewer Utility Operating Fund
SB-1
258.01
Community Development Block Grant Receivable
SB-6
65,277.66
72,506.66
Other Accounts Receivable
SB-25
13,628.35
4,060.00
663,595.70
636,563.52
Municipal Open Space Fund:
Cash--Treasurer
SB-1
260,285.52
350,915.92
Due from Current Fund
SB-4
57,665.72
260,285.52
408,581.64
924,265.03
$
1,051,411.73
$
(Continued)
11600
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
BOROUGH OF CLEMENTON
TRUST FUND
21
Exhibit B
Ref.
2014
2013
11600
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
BOROUGH OF CLEMENTON
TRUST FUND
LIABILITIES, RESERVES AND FUND BALANCE
Animal Control Fund:
Reserve for Animal Control Expenditures
SB-2
382.81
$
3,794.30
$
Due to Current Fund
SB-1
2,472.27
Due to State of New Jersey
SB-3
1.00
383.81
6,266.57
Other Funds:
Due to Current Fund
SB-5
19,144.92
19,568.84
Due to General Capital Fund
SC-8
14,893.34
5,594.89
Due to Water Utility Operating Fund
SB-1
176.56
Due to Federal and State Grant Fund
SB-1
19,222.34
Reserve for Community Development Block Grant
Program
SB-8
44,784.32
49,706.66
Reserve for Payroll Deductions Payable
SB-9
45,485.50
25,340.51
Reserve for Uniform Fire Safety Act Penalties
SB-10
56,203.17
77,126.09
Reserve for Parking Offenses Adjudication Act
SB-11
366.00
344.00
Reserve for Police Outside Employment
SB-12
10,339.68
13,229.68
Reserve for DARE Program
SB-13
6,672.54
6,668.16
Reserve for Municipal Forfeiture
SB-14
7,748.29
8,554.58
Reserve for Unemployment Compensation
SB-15
10,553.64
8,088.48
Due to State of New Jersey
SB-15
11,838.00
Reserve for Community Events
SB-16
7,888.93
8,236.93
Reserve for Developer's Escrow Deposits
SB-17
69,441.70
76,655.75
Reserve for Tax Title Lien Redemption
SB-19
112.34
73.68
Reserve for Premiums Received at Tax Sales
SB-20
280,700.00
265,000.00
Contracts Payable
SB-21
15,000.00
Reserve for Federal Drug Enforcement Fund
SB-22
2,023.39
2,021.11
Reserve for Street Opening Deposits
SB-23
3,000.00
2,000.00
Reserve for Brick Fund
1,896.90
1,896.90
Reserve for Recreation
10,772.25
10,772.25
Reserve for Police K-9
10,546.37
10,546.37
Reserve for Municipal Alliance
3,449.19
3,449.19
Reserve for Accumulated Absences
26,512.89
26,512.89
663,595.70
636,563.52
(Continued)
22
Exhibit B
Ref.
2014
2013
11600
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
BOROUGH OF CLEMENTON
TRUST FUND
Municipal Open Space Fund:
Reserve for Open Space, Recreation Farmland and
Historic Preservation
SB-7
254,210.04
$
408,581.64
$
Reserve for Encumbrances
B-2
5,993.50
Due to Current Fund
SB-4
81.98
260,285.52
408,581.64
924,265.03
$
1,051,411.73
$
The accompanying Notes to Financial Statements are an integral part of this statement.
23
11600
Exhibit B-1
Anticipated
Excess or
Budget
Realized
(Deficit)
Amount to be Raised by Taxation
57,217.26
$
57,235.28
$
18.02
$
Reserve Funds
408,581.64
408,581.64
Miscellaneous
286.12
286.12
465,798.90
$
466,103.04
$
304.14
$
Analysis of Realized Revenues
Amount to be Raised by Taxation:
Current Year Levy
57,217.26
$
Added/Omitted Levy
18.02
57,235.28
$
Miscellaneous:
Interest on Investments
286.12
$
The accompanying Notes to Financial Statements are an integral part of this statement.
BOROUGH OF CLEMENTON
TRUST MUNICIPAL OPEN SPACE FUND
Statement of Revenues--Regulatory Basis
For the Year Ended December 31, 2014
24
11600
Exhibit B-2
Unexpended
Original
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
Maintenance of Lands for Recreation and Conservation:
Other Expenses
105,798.90
$
105,798.90
$
52,267.50
$
5,993.50
$
47,537.90
$
Acquisition of Lands for Recreation and Conservation
360,000.00
360,000.00
153,632.00
206,368.00
465,798.90
$
465,798.90
$
205,899.50
$
5,993.50
$
-
$
253,905.90
$
The accompanying Notes to Financial Statements are an integral part of this statement.
BOROUGH OF CLEMENTON
TRUST MUNICIPAL OPEN SPACE FUND
Statement of Expenditures--Regulatory Basis
For the Year Ended December 31, 2014
Appropriations
Expended
25
Exhibit C
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
Ref.
2014
2013
ASSETS
Cash
SC-1; SC-2
870,639.50
$
1,125,205.00
$
Due from Current Fund
SC-5
83,510.77
Due from Trust Other Fund
SC-8
14,893.34
5,594.89
Due from Sewer Utility Capital Fund
SC-1
2,583.51
Due from Sewer Utility Operating Fund
SC-1
5,314.69
Due from Water Utility Operating Fund
SC-1
2,766.29
Deferred Charges to Future Taxation:
Unfunded
SC-3
898,259.35
710,967.35
Funded
SC-4
4,227,251.17
4,533,158.38
6,011,043.36
$
6,469,100.88
$
LIABILITIES, RESERVES AND FUND BALANCE
Due to Current Fund
SC-5
1,009.40
$
Due to Water Utility Capital Fund
SC-1
383.34
$
Improvement Authorizations:
Funded
SC-6
128,375.85
322,078.85
Unfunded
SC-6
242,584.52
135,385.92
Reserve for Encumbrances
SC-7
21,722.51
62,503.68
Capital Improvement Fund
SC-9
41,833.50
51,691.50
Contracts Payable
SC-10
150,615.00
51,216.00
Reserve for Payment of Bonds and Loans
SC-11
449,193.41
519,657.21
Bond Anticipation Notes
SC-12
748,202.00
792,770.00
New Jersey Environmental Trust Loans Payable
SC-13
715,251.17
775,558.38
General Serial Bonds
SC-14
3,512,000.00
3,757,600.00
Fund Balance
256.00
256.00
6,011,043.36
$
6,469,100.88
$
The accompanying Notes to Financial Statements are an integral part of this statement.
11600
26
Exhibit D
BOROUGH OF CLEMENTON
WATER UTILITY FUND
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
Ref.
2014
2013
ASSETS
Operating Fund:
Cash - Treasurer
SD-1
320,060.34
$
313,635.83
$
Cash - Change Funds
SD-4
75.00
75.00
Due from Current Fund
SD-14
2.41
Due from Trust Other Fund
SD-1
176.56
Due from Water Utility Capital Fund
SD-5
219.91
320,137.75
314,107.30
Receivables With Full Reserves
Consumer Accounts Receivable
SD-6
104,264.14
91,343.96
Water Utility Liens Receivable
SD-7
617.25
504.25
104,881.39
91,848.21
Total Operating Fund
425,019.14
405,955.51
Capital Fund:
Cash - Treasurer
SD-1; SD-3
351,855.56
191,745.75
Due from General Capital Fund
SD-1
383.34
Due from Water Utility Operating Fund
SD-5
18,758.35
Fixed Capital
SD-8
3,971,787.89
3,740,681.33
Fixed Capital Authorized and Uncompleted
SD-9
568,210.00
557,916.56
Total Capital Fund
4,910,611.80
4,490,726.98
5,335,630.94
$
4,896,682.49
$
(Continued)
11600
27
Exhibit D
BOROUGH OF CLEMENTON
WATER UTILITY FUND
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
Ref.
2014
2013
11600
LIABILITIES, RESERVES AND FUND BALANCE
Operating Fund:
Appropriation Reserves
D-3; SD-10
37,798.69
$
39,607.41
$
Reserve for Encumbrances
D-3; SD-10
26,349.32
24,112.94
Water Rental Overpayments
SD-11
1,594.48
2,572.47
Water Rental Prepayments
SD-12
39,630.31
46,961.21
Accrued Interest on Bonds
SD-16
5,792.17
6,061.56
Due to Current Fund
SD-14
3,621.61
Due to General Capital Fund
SD-1
2,766.29
Due to Sewer Utility Operating Fund
SD-1
2,124.13
Due to Water Utility Capital Fund
SD-5
18,758.35
129,923.32
127,827.62
Reserve for Receivables
D
104,881.39
91,848.21
Fund Balance
D-1
190,214.43
186,279.68
Total Operating Fund
425,019.14
405,955.51
Capital Fund:
Due to Water Utility Operating Fund
SD-5
219.91
Improvement Authorizations:
Funded
SD-13
18,007.06
5,937.06
Unfunded
SD-13
277,709.13
58,963.34
Contracts Payable
SD-15
11,655.94
70,697.00
Reserve for Payment of Bonds
12,893.44
12,893.44
Capital Improvement Fund
SD-18
50,034.00
43,104.00
Reserve for Amortization
SD-17
3,705,287.89
3,608,612.89
Reserve for Deferred Amortization
SD-19
28,411.00
28,616.00
Bond Anticipation Notes
SD-20
506,730.00
277,400.00
Serial Bonds
SD-21
299,500.00
383,900.00
Fund Balance
383.34
383.34
Total Capital Fund
4,910,611.80
4,490,726.98
5,335,630.94
$
4,896,682.49
$
The accompanying Notes to Financial Statements are an integral part of this statement.
28
Exhibit D-1
BOROUGH OF CLEMENTON
WATER UTILITY FUND
Statements of Operations and Changes in Fund Balance - Regulatory Basis
For the Years Ended December 31, 2014 and 2013
2014
2013
Revenue and Other Income Realized:
Fund Balance
87,175.00
$
42,740.00
$
Water Rents
772,666.22
807,586.99
Miscellaneous
13,662.20
7,422.99
Other Credits to Income:
Canceled Accounts Payable
1,147.21
Unexpended Balance of Appropriation Reserves
36,643.48
31,233.87
Total Income
910,146.90
890,131.06
Expenditures:
Operations:
Salaries and Wages
288,100.00
280,900.00
Other Expenses
345,550.00
340,750.00
Capital Improvements
19,000.00
Debt Service
100,387.15
101,942.15
Deferred Charges and Statutory Expenditures
26,000.00
24,000.00
Total Expenditures
779,037.15
747,592.15
Statutory Excess to Fund Balance
131,109.75
142,538.91
Fund Balance January 1
186,279.68
126,480.77
317,389.43
269,019.68
Decreased by:
Utilization as Anticipated Revenue:
Current Fund Budget
40,000.00
40,000.00
Water Utility Budget
87,175.00
42,740.00
Fund Balance December 31
190,214.43
$
186,279.68
$
The accompanying Notes to Financial Statements are an integral part of this statement.
11600
29
Exhibit D-2
BOROUGH OF CLEMENTON
WATER UTILITY FUND
For the Year Ended December 31, 2014
Anticipated
Excess or
Budget
Realized
(Deficit)
Operating Surplus Anticipated
87,175.00
$
87,175.00
$
Water Rents
729,750.00
772,666.22
42,916.22
$
Miscellaneous
7,000.00
13,662.20
6,662.20
823,925.00
$
873,503.42
$
49,578.42
$
Rents:
Collections
723,132.54
$
Prepayments Applied
46,961.21
Overpayments Applied
2,572.47
772,666.22
$
Miscellaneous:
Interest Earned on Deposits:
Collected
402.01
$
Due from Water Utility Capital Fund
241.65
643.66
$
Miscellaneous
170.95
Interest on Delinquent Accounts
12,847.59
13,662.20
$
Collected
13,420.55
$
Due from Water Utility Capital Fund
241.65
13,662.20
$
The accompanying Notes to Financial Statements are an integral part of this statement.
Statement of Revenues - Regulatory Basis
11600
30
Exhibit D-3
BOROUGH OF CLEMENTON
WATER UTILITY FUND
Statement of Expenditures - Regulatory Basis
For the Year Ended December 31, 2014
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
Operations:
Salaries and Wages
288,100.00
$
288,100.00
$
276,859.19
$
11,240.81
$
Other Expenses
345,550.00
345,550.00
297,762.83
26,349.32
$
21,437.85
Total Operations
633,650.00
633,650.00
574,622.02
26,349.32
32,678.66
-
Capital Improvements:
Capital Improvement Fund
19,000.00
19,000.00
19,000.00
-
-
-
Debt Service:
Payment of Bond Principal
84,400.00
84,400.00
84,400.00
Payment of Bond Anticipation Notes and Capital Notes
8,400.00
8,400.00
8,400.00
$
Interest on Bonds
36,925.00
36,925.00
12,597.58
24,327.42
Interest on Notes
15,550.00
15,550.00
3,389.57
12,160.43
145,275.00
145,275.00
100,387.15
-
-
44,887.85
Statutory Expenditures:
Contribution to:
Social Security System (O.A.S.I.)
26,000.00
26,000.00
20,879.97
-
5,120.03
-
Total Deferred Charges and Statutory Expenditures
26,000.00
26,000.00
20,879.97
-
5,120.03
-
Total Water Utility Appropriations
823,925.00
$
823,925.00
$
714,889.14
$
26,349.32
$
37,798.69
$
44,887.85
$
Interest on Bonds and Notes
15,987.15
$
Disbursed
698,901.99
714,889.14
$
The accompanying Notes to Financial Statements are an integral part of this statement.
Expended
Appropriations
11600
31
Exhibit E
BOROUGH OF CLEMENTON
SEWER UTILITY FUND
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
Ref.
2014
2013
ASSETS
Operating Fund:
Cash - Treasurer
SE-1
392,599.97
$
398,364.40
$
Cash - Change Funds
SE-4
75.00
75.00
Due from Current Fund
SE-5
4,664.69
Due from Water Utility Operating Fund
SE-8
2,124.13
Due from Sewer Utility Capital Fund
SE-9
355.25
283.95
393,030.22
405,512.17
Receivables With Full Reserves
Consumer Accounts Receivable
SE-6
59,426.72
54,803.40
Sewer Utility Liens Receivable
SE-7
476.49
366.49
59,903.21
55,169.89
Total Operating Fund
452,933.43
460,682.06
Capital Fund:
Cash - Treasurer
SE-1; SE-3
565,633.57
225,206.93
Fixed Capital
SE-11
3,652,731.58
3,301,080.79
Fixed Capital Authorized and Uncompleted
SE-12
924,000.00
912,650.79
Total Capital Fund
5,142,365.15
4,438,938.51
5,595,298.58
$
4,899,620.57
$
(Continued)
11600
32
Exhibit E
BOROUGH OF CLEMENTON
SEWER UTILITY FUND
Statements of Assets, Liabilities, Reserves and Fund Balances - Regulatory Basis
As of December 31, 2014 and 2013
Ref.
2014
2013
11600
LIABILITIES, RESERVES AND FUND BALANCE
Operating Fund:
Appropriation Reserves
E-3; SE-10
33,590.02
$
37,795.96
$
Reserve for Encumbrances
E-3; SE-10
7,107.00
13,403.52
Sewer Rental Overpayments
SE-13
972.96
1,347.93
Sewer Rental Prepayments
SE-14
67,643.01
74,172.45
Accrued Interest on Bonds
SE-16
3,717.99
3,224.30
Due to Trust Other Funds
SE-1
258.01
Due to General Capital Fund
SE-1
5,314.69
113,030.98
135,516.86
Reserve for Receivables
E
59,903.21
55,169.89
Fund Balance
E-1
279,999.24
269,995.31
Total Operating Fund
452,933.43
460,682.06
Capital Fund:
Due to Sewer Utility Operating Fund
SE-9
355.25
283.95
Due to General Capital Fund
SE-1
2,583.51
Improvement Authorizations:
Funded
SE-15
18,064.40
Unfunded
SE-15
450,808.35
175,661.20
Reserve for Encumbrances
SE-15
137.30
Reserve for Payment of Bonds
10,599.21
10,599.21
Reserve for Deferred Amortization
SE-17
46,200.00
67,462.00
Reserve for Amortization
SE-18
3,585,218.49
3,485,806.49
Contracts Payable
SE-19
67,740.00
Capital Improvement Fund
SE-20
17,250.00
35,400.00
Serial Bonds
SE-21
70,500.00
130,500.00
Bond Anticipation Notes
SE-22
874,480.00
529,630.00
Fund Balance
1,012.15
1,012.15
Total Capital Fund
5,142,365.15
4,438,938.51
5,595,298.58
$
4,899,620.57
$
The accompanying Notes to Financial Statements are an integral part of this statement.
33
Exhibit E-1
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
Statements of Operations and Changes in Fund Balance - Regulatory Basis
For the Years Ended December 31, 2014 and 2013
2014
2013
Revenue and Other Income Realized:
Fund Balance
108,929.00
$
73,760.00
$
Sewer Charges
611,860.79
619,574.17
Miscellaneous
4,756.55
7,022.21
Other Credits to Income:
Canceled Accounts Payable
1,147.21
Unexpended Balance of Appropriation Reserves
40,036.87
44,162.56
Total Income
765,583.21
745,666.15
Expenditures:
Operations:
Salaries and Wages
266,050.00
263,400.00
Other Expenses
204,800.00
199,700.00
Debt Service
70,800.28
72,154.32
Deferred Charges and Statutory Expenditures
25,000.00
23,000.00
Total Expenditures
566,650.28
558,254.32
Statutory Excess to Fund Balance
198,932.93
187,411.83
Fund Balance January 1
269,995.31
236,343.48
468,928.24
423,755.31
Decreased by:
Utilization as Anticipated Revenue:
Current Fund Budget
80,000.00
80,000.00
Sewer Utility Budget
108,929.00
73,760.00
Fund Balance December 31
279,999.24
$
269,995.31
$
The accompanying Notes to Financial Statements are an integral part of this statement.
11600
34
Exhibit E-2
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
For the Year Ended December 31, 2014
Anticipated
Excess or
Budget
Realized
(Deficit)
Operating Surplus Anticipated
108,929.00
$
108,929.00
$
Sewer Rents
483,450.00
611,860.79
128,410.79
$
Miscellaneous
6,500.00
4,756.55
(1,743.45)
598,879.00
$
725,546.34
$
126,667.34
$
Rents:
Collections
536,340.41
$
Prepayments Applied
74,172.45
Overpayments Applied
1,347.93
611,860.79
$
Miscellaneous:
Interest on Investments and Deposits:
Collected
377.04
$
Due from Sewer Utility Capital Fund
355.25
732.29
$
Interest on Delinquent Accounts
4,004.26
Miscellaneous
20.00
4,756.55
$
Collected
4,401.30
$
Due from Sewer Utility Capital Fund
355.25
4,756.55
$
The accompanying Notes to Financial Statements are an integral part of this statement.
Statement of Revenues - Regulatory Basis
11600
35
Exhibit E-3
Appropriations
Unexpended
Budget After
Paid or
Balance
Budget
Modification
Charged
Encumbered
Reserved
Canceled
Operations:
Salaries and Wages
266,050.00
$
266,050.00
$
244,690.23
$
21,359.77
$
Other Expenses
204,800.00
204,800.00
192,048.54
7,107.00
$
5,644.46
Total Operations
470,850.00
470,850.00
436,738.77
7,107.00
27,004.23
-
Debt Service:
Payment of Bond Principal
60,000.00
60,000.00
60,000.00
Payment of Bond Anticipation Notes and Capital Notes
13,000.00
13,000.00
13,000.00
$
Interest on Bonds
19,311.00
19,311.00
4,701.35
14,609.65
Interest on Notes
10,718.00
10,718.00
6,098.93
4,619.07
103,029.00
103,029.00
70,800.28
-
-
32,228.72
Deferred Charges and Statutory Expenditures:
Statutory Expenditures:
Contribution to:
Social Security System (O.A.S.I.)
25,000.00
25,000.00
18,414.21
-
6,585.79
-
Total Deferred Charges and Statutory Expenditures
25,000.00
25,000.00
18,414.21
-
6,585.79
-
Total Sewer Utility Appropriations
598,879.00
$
598,879.00
$
525,953.26
$
7,107.00
$
33,590.02
$
32,228.72
$
Interest on Bonds and Notes
10,800.28
$
Disbursed
515,152.98
525,953.26
$
The accompanying Notes to Financial Statements are an integral part of this statement.
11600
For the Year Ended December 31, 2014
Expended
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
Statement of Expenditures - Regulatory Basis
36
11600
Exhibit F
Statement of General Fixed Assets Account Group
Balance
Additions/
Deletions/
Balance
Dec. 31, 2013
Adjustments
Adjustments
Dec. 31, 2014
General Fixed Assets:
Land
6,508,810.64
$
631,000.00
$
182,200.00
$
6,957,610.64
$
Buildings
3,802,500.00
177,900.00
3,980,400.00
Vehicles and Equipment
3,122,202.65
195,511.10
48,858.00
3,268,855.75
Total General Fixed Assets
13,433,513.29
$
1,004,411.10
$
231,058.00
$
14,206,866.39
$
Total Investments in General Fixed Assets
13,433,513.29
$
1,004,411.10
$
231,058.00
$
14,206,866.39
$
The accompanying Notes to Financial Statements are an integral part of this statement.
BOROUGH OF CLEMENTON
For the Year Ended December 31, 2014
37
11600
BOROUGH OF CLEMENTON
Notes to Financial Statements
For the Year Ended December 31, 2014
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of Financial Reporting Entity - The Borough of Clementon was incorporated in 1925 and
is located in Camden County, New Jersey. The population according to the 2010 census is 5,000.
The Borough has a Mayor-council form of government. The Mayor is separately elected every four
years. Executive and administrative responsibility rests with the Mayor, who is assisted by the Borough
Administrator/Clerk.
Component Units - The Borough of Clementon had no component units as defined by Governmental
Accounting Standards Board Statement No. 14, as amended by GASB Statements No. 39 and No. 61.
Basis of Accounting, Measurement Focus and Basis of Presentation - The financial statements of
the Borough of Clementon contain all funds and account groups in accordance with the "Requirements
of Audit" as promulgated by the State of New Jersey, Department of Community Affairs, Division of
Local Government Services. The principles and practices established by the Requirements of Audit are
designed primarily for determining compliance with legal provisions and budgetary restrictions and as a
means of reporting on the stewardship of public officials with respect to public funds. Generally, the
financial statements are presented using the flow of current financial resources measurement focus and
modified accrual basis of accounting with minor exceptions as mandated by these "Requirements". In
addition, the prescribed accounting principles previously referred to differ in certain respects from
accounting principles generally accepted in the United States of America applicable to local government
units. The more significant differences are explained in this Note.
In accordance with the "Requirements", the Borough of Clementon accounts for its financial
transactions through the use of separate funds which are described as follows:
Current Fund - The Current Fund accounts for resources and expenditures for governmental
operations of a general nature, including Federal and State grant funds.
Trust Funds - The various Trust Funds account for receipts, custodianship and disbursement
of funds in accordance with the purpose for which each reserve was created.
General Capital Fund - The General Capital Fund accounts for receipt and disbursement of
funds for the acquisition of general capital facilities, other than those acquired in the Current
Fund.
Water Utility Operating and Capital Funds - The Water Utility Operating and Capital Funds
account for the operations and acquisition of capital facilities of the municipally owned Water
Utility.
Sewer Utility Operating and Capital Funds - The Sewer Utility Operating and Capital Funds
account for the operations and acquisition of capital facilities of the municipally owned Sewer
Utility.
38
11600
Notes to Financial Statements (Cont'd)
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D)
Budgets and Budgetary Accounting - The Borough of Clementon must adopt an annual budget for
its current, trust open space, water and sewer utility funds in accordance with N.J.S.A. 40A:4 et seq.
N.J.S.A. 40A:4-5 requires the governing body to introduce and approve the annual municipal budget no
later than February 10 of each year. At introduction, the governing body shall fix the time and place for
a public hearing on the budget and must advertise the time and place at least ten days prior to the
hearing in a newspaper published and circulating in the municipality. The public hearing must not be
held less than twenty-eight days after the date the budget was introduced. After the hearing has been
held, the governing body may, by majority vote, adopt the budget or may amend the budget in
accordance with N.J.S.A. 40A:4-9. Amendments to adopted budgets, if any, are detailed in the
statements of revenues and expenditures.
An extension of the statutory dates for introduction, approval and adoption of the municipal budget may
be granted by the Director of the Division of Local Government Services, with the permission of the
Local Finance Board.
Budgets are adopted on the same basis of accounting utilized for the preparation of the Borough's
financial statements.
Cash, Cash Equivalents and Investments - Cash and cash equivalents include petty cash, change
funds and cash on deposit with public depositories. All certificates of deposit are recorded as cash
regardless of the date of maturity. Investments are stated at cost. Consequently, unrealized gain or
loss on investments has not been recorded in accordance with Governmental Accounting Standards
Board Statement No. 31.
New Jersey municipal units are required by N.J.S.A. 40A:5-14 to deposit public funds in a bank or trust
company having its place of business in the State of New Jersey and organized under the laws of the
United States or of the State of New Jersey or in the New Jersey Cash Management Fund. N.J.S.A.
40A:5-15.1 provides a list of investments which may be purchased by New Jersey municipal units. In
addition, other State statutes permit investments in obligations issued by local authorities and other
state agencies.
N.J.S.A. 17:9-41 et seq. establishes the requirements for the security of deposits of governmental units.
The statute requires that no governmental unit shall deposit public funds in a public depository unless
such funds are secured in accordance with the Governmental Unit Deposit Protection Act (“GUDPA”), a
multiple financial institutional collateral pool, which was enacted in 1970 to protect governmental units
from a loss of funds on deposit with a failed banking institution in New Jersey. Public depositories
include State or federally chartered banks, savings banks or associations located in or having a branch
office in the State of New Jersey, the deposits of which are federally insured. All public depositories
must pledge collateral, having a market value at least equal to five percent of the average daily balance
of collected public funds, to secure the deposits of Governmental Units. If a public depository fails, the
collateral it has pledged, plus the collateral of all other public depositories, is available to pay the
amount of their deposits to the Governmental Units.
The cash management plan adopted by the Borough of Clementon requires it to deposit funds in public
depositories protected from loss under the provisions of the Act.
Interfunds - Interfund receivables and payables that arise from transactions between funds are
recorded by all funds affected by such transactions in the period in which the transaction is executed.
Interfund receivables in the Current Fund are recorded with offsetting reserves which are created by
charges to operations. Income is recognized in the year the receivables are liquidated. Interfund
receivables in the other funds are not offset by reserves.
39
11600
Notes to Financial Statements (Cont'd)
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D)
Inventories of Supplies - The costs of inventories of supplies for all funds are recorded as
expenditures at the time individual items are purchased. The costs of inventories are not included on
the various statements of assets, liabilities, reserves and fund balance.
General Fixed Assets - Accounting for Governmental Fixed Assets, as required by N.J.A.C. 5:30-5.6,
differs in certain respects from accounting principles generally accepted in the United States of
America. In accordance with the regulations, all local units, including municipalities, must maintain a
general fixed assets reporting system that establishes and maintains a physical inventory of
nonexpendable, tangible property as defined and limited by the U.S. Office of Management and Budget
Circular A-87 (Attachment B, Section 19), except that the useful life of such property is at least five
years. The Borough has adopted a capitalization threshold of $5,000, the maximum amount allowed by
the Circular. Generally, assets are valued at historical cost; however, assets acquired prior to
December 31, 1985 are valued at actual historical cost or estimated historical cost. No depreciation of
general fixed assets is recorded. Donated general fixed assets are recorded at their estimated fair
market value on the acquisition date. Interest costs relative to the acquisition of general fixed assets
are recorded as expenditures when paid. Public domain ("infrastructure") general fixed assets
consisting of certain improvements such as roads, bridges, curbs and gutters, streets and sidewalks
and drainage systems are not capitalized. Expenditures for construction in progress are recorded in the
Capital Funds until such time as the construction is completed and put into operation. The Borough is
required to maintain a subsidiary ledger detailing fixed assets records to control additions, retirements
and transfers of fixed assets. In addition, a Statement of General Fixed Assets, reflecting the activity
for the year, must be included in the Borough’s basic financial statements.
The regulations require that general fixed assets, whether constructed or acquired through purchase,
grant or gift be included in the aforementioned inventory. In addition, property management standards
must be maintained that includes accurate records indicating asset description, source, ownership,
acquisition cost and date, the percentage of Federal participation (if any), and the location, use, and
condition of the asset. Periodically, physical inventories must be taken and reconciled with these
records. Lastly, all fixed assets must be adequately controlled to safeguard against loss, damage or
theft.
Utility Fixed Assets - Property and equipment purchased by a utility fund are recorded in the utility
capital account at cost and are adjusted for disposition and abandonment. The amounts shown do not
represent replacement cost or current value. The Reserve for Amortization and Deferred Reserve for
Amortization accounts in the utility capital fund represent charges to operations for the cost of
acquisition of property and equipment and improvements and contributed capital.
Foreclosed Property - Foreclosed property is recorded in the Current Fund at the assessed valuation
when such property was acquired and is fully reserved. Ordinarily it is the intention of the municipality
to resell foreclosed property in order to recover all or a portion of the delinquent taxes or assessments
and to return the property to a taxpaying basis. For this reason the value of foreclosed property has not
been included in the General Fixed Assets Account Group. If such property is converted to a municipal
use, it will be recorded in the General Fixed Assets Account Group.
Deferred Charges - The recognition of certain expenditures is deferred to future periods. These
expenditures, or deferred charges, are generally overexpenditures of legally adopted budget
appropriations or emergency appropriations made in accordance with N.J.S.A. 40A:4-46 et seq.
Deferred charges are subsequently raised as items of appropriation in budgets of succeeding years.
Liens Sold for Other Governmental Units - Liens sold on behalf of other governmental units are not
recorded on the records of the tax collector until such liens are collected. Upon their collection, such
liens are recorded as a liability due to the governmental unit net of the costs of the initial sale. The
related costs of sale are recognized as revenue when received.
40
11600
Notes to Financial Statements (Cont'd)
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D)
Fund Balance - Fund Balances included in the current fund and utility operating funds represent
amounts available for anticipation as revenue in future years budgets, with certain restrictions.
Revenues - Revenues are recorded when received in cash except for certain amounts which are due
from other governmental units. Revenue from Federal and State grants are realized when anticipated
as such in the Borough's budget. Receivables for property taxes are recorded with offsetting reserves
on the statement of assets, liabilities, reserves and fund balance of the Borough's Current Fund;
accordingly, such amounts are not recorded as revenue until collected. Other amounts that are due the
Borough which are susceptible to accrual are also recorded as receivables with offsetting reserves and
recorded as revenue when received.
Property Tax Revenues - Property tax revenues are collected in quarterly installments due February 1,
May 1, August 1, and November 1. The amount of tax levied includes not only the amount required in
support of the Borough's annual budget, but also the amounts required in support of the budgets of the
County of Camden and the Borough of Clementon School District. Unpaid property taxes are subject to
tax sale in accordance with the statutes.
School Taxes - The municipality is responsible for levying, collecting and remitting school taxes for the
Borough of Clementon School District. Operations is charged for the full amount required to be raised
from taxation to operate the local school district for the period from January 1 to December 31.
County Taxes - The municipality is responsible for levying, collecting and remitting county taxes for the
County of Camden. Operations is charged for the amount due the County for the year, based upon the
ratables required to be certified to the County Board of Taxation by January 10 of the current year. In
addition, operations is charged for the County share of Added and Omitted Taxes certified to the
County Board of Taxation by October 10 of the current year and due to be paid to the County by
February 15 of the following year.
Reserve for Uncollected Taxes - The inclusion of the "Reserve for Uncollected Taxes" appropriation
in the Borough's annual budget protects the Borough from taxes not paid currently. The Reserve, the
minimum amount of which is determined on the percentage of collections experienced in the immediate
preceding year, with certain exceptions, is required to provide assurance that cash collected in the
current year will provide sufficient cash flow to meet expected obligations.
Expenditures - Expenditures are recorded on the "budgetary" basis of accounting. Generally,
expenditures are recorded when paid. However, for charges to amounts appropriated for “other
expenses”, an amount is encumbered through the issuance of a numerically controlled purchase order
or when a contract is executed in accordance with N.J.A.C. 5:30-5.2. When encumbered charges are
paid, the amount encumbered is simultaneously liquidated in its original amount. Encumbrances are
offset by an account entitled reserve for encumbrances. The reserve is classified as a cash liability
under New Jersey municipal accounting. At December 31, this reserve represents the portion of
appropriation reserves that has been encumbered and is subject to the same statutory provisions as
appropriation reserves.
Appropriations for principal payments on outstanding general capital and utility bonds and notes are
provided on the cash basis; interest on general capital indebtedness is on the cash basis; whereas
interest on utility indebtedness is on the accrual basis.
Appropriation Reserves - Appropriation reserves covering unexpended appropriation balances are
automatically created at year-end and recorded as liabilities, except for amounts which may be
canceled by the governing body. Appropriation reserves are available, until lapsed at the close of the
succeeding year, to meet specific claims, commitments or contracts incurred during the preceding fiscal
year. Lapsed appropriation reserves are recorded as income.
41
11600
Notes to Financial Statements (Cont'd)
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D)
Long-Term Debt - Long-Term Debt, relative to the acquisition of capital assets, is recorded as a liability
in the General Capital and Utility Capital Funds. Where an improvement is a “local Improvement”, i.e.
assessable upon completion, long-term debt associated with that portion of the cost of the improvement
to be funded by assessments is transferred to the Trust Fund upon the confirmation of the assessments
or when the improvement is fully and permanently funded.
Compensated Absences and Postemployment Benefits - Compensated absences for vacation, sick
leave and other compensated absences are recorded and provided for in the annual budget in the year
in which they are paid, on a pay-as-you-go basis. Likewise, no accrual is made for postemployment
benefits, if any, which are also funded on a pay-as-you-go basis.
Note 2: CASH AND CASH EQUIVALENTS
Custodial Credit Risk Related to Deposits - Custodial credit risk is the risk that, in the event of a bank
failure, the Borough’s deposits might not be recovered. Although the Borough does not have a formal
policy regarding custodial credit risk, N.J.S.A. 17:9-41 et seq. requires that governmental units shall
deposit public funds in public depositories protected from loss under the provisions of the Governmental
Unit Deposit Protection Act (GUDPA). Under the Act, the first $250,000 of governmental deposits in each
insured depository is protected by the Federal Deposit Insurance Corporation (FDIC). Public funds
owned by the municipality in excess of FDIC insured amounts are protected by GUDPA. However,
GUDPA does not protect intermingled trust funds such as salary withholdings, bail funds, or funds that
may pass to the municipality relative to the happening of a future condition. Such funds are shown as
Uninsured and Uncollateralized in the schedule below.
As of December 31, 2014, the Borough’s bank balances of $4,651,779.56 were exposed to custodial
credit risk as follows:
Insured by Federal Deposit Insurance
Corporation
250,000.00
$
Uninsured and uncollateralized
463,064.78
Uninsured and Collateralized with Securities
Held by Pledging Financial Institutions
3,938,714.78
Total
4,651,779.56
$
42
11600
Notes to Financial Statements (Cont'd)
Note 3: PROPERTY TAXES
The following is a five-year comparison of certain statistical information relative to property taxes and
property tax collections for the current and previous four years.
2014
2013
2012
2011*
2010
3.612
$
3.496
$
3.346
$
3.239
$
5.174
$
Apportionment of Tax Rate:
1.243
1.174
1.132
1.081
1.704
0.020
0.020
0.020
0.020
0.020
0.803
0.814
0.744
0.717
1.121
Local School District
1.546
1.488
1.450
1.421
2.329
County
Comparative Schedule of Tax Rates
Tax Rate
Municipal
Municipal Open Space
Assessed Valuation
Year
2014
286,086,300.00
$
2013
288,178,751.00
2012
289,048,477.00
2011
*
289,415,447.00
2010
172,763,274.00
*Revaluation
Comparison of Tax Levies and Collections
Percentage of
Year
Tax Levy
Collections
Collections
2014
10,336,689.02
$
9,895,266.25
$
95.73%
2013
10,079,968.32
9,691,532.22
96.15%
2012
9,676,440.94
9,277,520.68
95.88%
2011
9,381,011.47
8,997,309.45
95.91%
2010
8,940,332.62
8,529,953.04
95.41%
Delinquent Taxes and Tax Title Liens
Tax Title
Delinquent
Total
Percentage
Year
Liens
Taxes
Delinquent
of Tax Levy
2014
108,970.27
$
408,962.55
$
517,932.82
$
5.01%
2013
87,336.83
351,084.85
438,421.68
4.35%
2012
88,216.81
373,985.64
462,202.45
4.78%
2011
89,428.06
357,620.46
447,048.52
4.77%
2010
98,497.22
374,930.94
473,428.16
5.30%
43
11600
Notes to Financial Statements (Cont'd)
Note 3: PROPERTY TAXES (CONT'D)
The following comparison is made of the number of tax title liens receivable on December 31 of the last
five years:
Year
Number
2014
16
2013
17
2012
14
2011
16
2010
15
Note 4: PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION
The value of property acquired by liquidation of tax title liens on December 31, on the basis of the last
assessed valuation of such properties, for the current and previous four years was as follows:
Year
Amount
2014
935,200.00
$
2013
935,200.00
2012
935,200.00
2011
935,200.00
2010
935,200.00
Note 5: WATER UTILITY SERVICE CHARGES
The following is a five-year comparison of water utility service charges (rents) for the current and
previous four years.
Cash
Year
Receivable
Liens
Levy
Total
Collections
2014
91,343.96
$
504.25
$
785,699.40
$
877,043.36
$
772,666.22
$
2013
89,874.30
4,439.16
805,121.74
894,996.04
807,586.99
2012
65,191.70
3,708.70
771,701.72
836,893.42
746,288.66
2011
106,797.93
4,636.71
724,694.20
831,492.13
767,228.44
2010
103,401.82
715,151.97
818,553.79
707,260.66
Balance Beginning of Year
44
11600
Notes to Financial Statements (Cont'd)
Note 6: SEWER UTILITY SERVICE CHARGES
The following is a five-year comparison of sewer utility service charges (rents) for the current and
previous four years.
Cash
Year
Receivable
Liens
Levy
Total
Collections
2014
54,803.00
$
366.49
$
616,594.11
$
671,397.11
$
611,860.79
$
2013
54,891.40
932.92
618,919.74
673,811.14
619,574.17
2012
40,303.11
1,059.31
602,609.59
642,912.70
588,147.69
2011
62,201.63
1,650.76
551,921.69
614,123.32
574,411.66
2010
50,116.65
551,979.58
602,096.23
538,282.87
Balance Beginning of Year
Note 7: INTERFUND RECEIVABLES AND PAYABLES
The following interfund balances were recorded on the various statements of assets, liabilities, reserves
and fund balance as of December 31, 2014:
Interfunds
Interfunds
Fund
Receivable
Payable
Current Fund
71,299.82
$
2.41
$
Federal and State Grant Fund
19,222.34
51,063.52
Trust Other Funds
53,260.60
Municipal Open Space Fund
81.98
General Capital Fund
14,893.34
1,009.40
Water Utility Operating Fund
2.41
18,758.35
Water Utility Capital Fund
18,758.35
Sewer Utility Operating Fund
355.25
Sewer Utility Capital Fund
355.25
124,531.51
$
124,531.51
$
The interfund receivables and payables above predominately resulted from payments made by certain
funds on behalf of other funds and from interfund loans made during 2014. During 2015, the Borough
expects to liquidate such interfunds.
45
11600
Notes to Financial Statements (Cont'd)
Note 8: FUND BALANCES APPROPRIATED
The following schedule details the amount of fund balances available at the end of the current year and
four previous years and the amounts utilized in the subsequent year's budgets.
Utilized In
Percentage
Balance
Budgets of
of Fund
Year
Dec. 31
Succeeding Year
Balance Used
Current Fund
2014
621,617.06
$
390,025.00
$
62.74%
2013
539,720.03
390,025.00
72.26%
2012
54,735.97
50,000.00
91.35%
2011
184,953.69
150,000.00
81.10%
2010
204,031.29
200,000.00
98.02%
Water Utility Operating Fund
2014
190,214.43
$
99,700.00
$
52.41%
2013
186,279.68
127,175.00
(A)
68.27%
2012
126,480.77
82,740.00
(A)
65.42%
2011
185,683.85
158,385.00
(B)
85.30%
2010
150,853.36
104,641.00
(C)
69.37%
Sewer Utility Operating Fund
2014
279,999.24
$
160,929.00
$
(E)
57.47%
2013
269,995.31
188,929.00
(F)
69.97%
2012
236,343.48
153,760.00
(F)
65.06%
2011
273,012.81
196,195.00
(B)
71.86%
2010
205,758.56
143,800.00
(D)
69.89%
(A) Includes $40,000.00 utilized in Current Fund budget
(B) Includes $93,500.00 utilized in Current Fund budget
(C) Utilized in Current Fund Budget
(D) Includes $70,000.00 utilized in Current Fund Budget
(E) Includes $50,000.00 utilized in Current Fund budget
(F) Includes $80,000.00 utilized in Current Fund budget
46
11600
Notes to Financial Statements (Cont'd)
Note 9: PENSION PLANS
The Borough of Clementon contributes to two cost-sharing multiple-employer defined benefit pension
plans, the Public Employees' Retirement System (PERS) and the Police and Firemen's Retirement
System (PFRS), which are administered by the New Jersey Division of Pensions and Benefits. In
addition, Borough employees participate in the Defined Contribution Retirement Program (DCRP),
which is a defined contribution pension plan and is also administered by the New Jersey Division of
Pensions and Benefits. Each plan has a Board of Trustees that is primarily responsible for its
administration. The Division issues a publicly available financial report that includes financial
statements and required supplementary information. That report may be obtained by writing to:
State of New Jersey
Division of Pensions and Benefits
P.O. Box 295
Trenton, New Jersey 08625-0295
Public Employees' Retirement System - The PERS was established in 1955. The PERS provides
retirement, death, and disability, and medical benefits to qualified members. Vesting and benefit
provisions are established by N.J.S.A. 43:15A and 43:3B.
The contribution requirements of plan members are determined by State statute. In accordance with
Chapter 62, P.L. 1994, plan members enrolled in the Public Employees' Retirement System were
required to contribute 5% of their annual covered salary. Effective July 1, 2008, however, in
accordance with Chapter 92, P.L. 2007 and Chapter 103, P.L. 2007, plan members were required to
contribute 5.5% of their annual covered salary. For employees enrolled in the retirement system prior
to July 1, 2008, the increase was effective with the payroll period that began immediately after July 1,
2008. Pursuant to the provisions of Chapter 78, P.L. 2011, the active member contribution rate
increased to 6.5% plus an additional 1.0% phased-in over seven years. The phase-in of the additional
incremental member contribution amount began July 1, 2012 and increases each subsequent July 1.
The State Treasurer has the right under the current law to make temporary reductions in member rates
based on the existence of surplus pension assets in the retirement system; however, the statute also
requires the return to the normal rate when such surplus pension assets no longer exist.
The Borough is billed annually for its normal contribution plus any accrued liability. These contributions,
equal to the required contributions, were as follows:
Normal
Accrued
Total
Paid by
Year
Contribution
Liability
Liability
Borough
2014
20,156.00
$
81,167.00
$
101,323.00
$
101,323.00
$
2013
32,961.00
65,576.00
98,537.00
98,537.00
2012
48,465.00
81,377.00
129,842.00
129,842.00
47
11600
Notes to Financial Statements (Cont'd)
Note 9: PENSION PLANS (CONT’D)
Police and Firemen’s Retirement System - The PFRS was established in 1944. The PFRS provides
retirement, death, and disability, and medical benefits to qualified members. Vesting and benefit
provisions are established by N.J.S.A. 43:16A and 43:3B.
The contribution requirements of plan members are determined by State statute. In accordance with
Chapter 204, P.L. 1989, plan members enrolled in the Police and Firemen’s Retirement System were
required to contribute 8.5% of their annual covered salary. Pursuant to the provisions of Chapter 78,
P.L. 2011, the active member contribution rate increased to 10% in October, 2011. The State Treasurer
has the right under the current law to make temporary reductions in member rates based on the
existence of surplus pension assets in the retirement system; however, statute also requires the return
to the normal rate when such surplus pension assets no longer exist.
The Borough is billed annually for its normal contribution plus any accrued liability. These contributions,
equal to the required contributions, were as follows:
Normal
Accrued
Total
Paid by
Year
Contribution
Liability
Liability
Borough
2014
82,118.00
$
122,776.00
$
204,894.00
$
204,894.00
$
2013
93,417.00
98,978.00
192,395.00
192,395.00
2012
107,461.00
91,345.00
198,806.00
198,806.00
Related Party Investments - The Division of Pensions and Benefits does not invest in securities
issued by the Borough.
Note 10: OTHER POST EMPLOYMENT BENEFITS
Plan Description - The Borough contributes to the State Health Benefits Program (SHBP), a cost-
sharing, multiple-employer defined benefit post-employment healthcare plan administered by the State
of New Jersey Division of Pensions and Benefits. SHBP was established in 1961 under N.J.S.A. 52:14-
17.25 et seq., to provide health benefits to State employees, retirees, and their dependents. Rules
governing the operation and administration of the program are found in Title 17, Chapter 9 of the New
Jersey Administrative Code. SHBP provides medical, prescription drugs, mental health/substance
abuse, and Medicare Part B reimbursement to retirees and their covered dependents.
The SHBP was extended to employees, retirees, and dependents of participating local public
employers in 1964. Local employers must adopt a resolution to participate in the SHBP. In 1993, the
Borough authorized participation in the SHPB’s post-retirement benefit program through resolution
number R93-55. The majority of the employees are entitled to postemployment benefits in accordance
with contracts which indicate that employees retiring from the Borough shall receive medical coverage if
the employee retires in good standing in accordance with the minimum requirements of the New Jersey
State Pension System. Specific information can be obtained from the Borough’s approved contracts
and policies.
The State Health Benefits Commission is the executive body established by statute to be responsible
for the operation of the SHBP. The State of New Jersey Division of Pensions and Benefits issues a
publicly available financial report that includes financial statements and required supplementary
information for the SHBP. That report may be obtained by writing to: State of New Jersey Division of
Pensions and Benefits, P.O. Box 295, Trenton, NJ 08625-0295 or by visiting their website at
www.state.nj.us/treasury/pensions/.
48
11600
Notes to Financial Statements (Cont'd)
Note 10: OTHER POST EMPLOYMENT BENEFITS (CONT’D)
Funding Policy - Participating employers are contractually required to contribute based on the amount
of premiums attributable to their retirees. Post-retirement medical benefits under the plan have been
funded on a pay-as-you-go basis since 1994. Prior to 1994, medical benefits were funded on an
actuarial basis.
Contributions to pay for the health premiums of participating retirees in the SHBP are billed to the
Borough on a monthly basis. The Borough funds the costs of retirees post retirement health benefits
through current year budget appropriations.
The Borough contributions to SHBP for the years ended December 31, 2014, 2013 and 2012, were
$230,172.48, $213,885.85 and $185,995.08, respectively, which equaled the required contributions for
each year. There were 8, 8 and 8 retired participants eligible at December 31, 2014, 2013 and 2012,
respectively.
Note 11: COMPENSATED ABSENCES
Full-time employees are entitled to fifteen paid sick leave days each year. Unused sick leave may be
accumulated and carried forward to the subsequent year. Vacation days are earned at a rate of one
day per month for all employees in the first year of employment. For subsequent years, vacation days
are earned in accordance with the guidelines outlined in the various Borough employment contracts.
Vacation days not used during the year may only be accumulated to the following year.
Upon termination of employment, employees in good standing shall be entitled to receive pay for the
amount of accrued sick leave ranging from 10-50% of such unused and accumulated sick leave. The
amount of accrued sick leave benefits payable in future years are calculated in accordance with the
formulas outlined in Borough agreements. Benefits paid in any future year will be charged to that year’s
budget.
The Borough does not record accrued expenses related to compensated absences. However, it is
estimated that, at December 31, 2014, accrued benefits for compensated absences are valued at
$151,898.71.
Note 12: JOINT INSURANCE POOL
The Borough of Clementon is a member of the Municipal Excess Liability Joint Insurance Fund (MEL)
and the Camden County Municipal Joint Insurance Fund.
Contributions to the Fund, including a reserve for contingencies, are payable in two installments and
are based on actuarial assumptions determined by the Fund's actuary. The Commissioner of Insurance
may order additional assessments to supplement the Fund's claim, loss retention or administrative
accounts to assure the payment of the Fund's obligations.
49
11600
Notes to Financial Statements (Cont'd)
Note 12: JOINT INSURANCE POOL (CONT’D)
The Fund provides the Borough with the following coverage:
Fidelity Bonds - Public Employees and Public Officials
Business Automobile Insurance
Workers' Compensation and Employer's Liability
Property Damage other than Motor Vehicles
Boiler and Machinery
General Liability
Automobile Liability
Employment Practices Liability
Environmental Liability
The Fund publishes its own financial report for the year ended December 31, 2014, which can be
obtained at camdenmunicpaljif.org.
Note 13: CAPITAL DEBT
Summary of Debt
Year 2014
Year 2013
Year 2012
Issued
General:
Bonds, Loans and Notes
4,975,453.17
$
5,325,928.38
$
5,000,876.84
$
Water Utility:
Bonds and Notes
806,230.00
661,300.00
744,240.00
Sewer Utility:
Bonds and Notes
944,980.00
660,130.00
722,710.00
Total Issued
6,726,663.17
6,647,358.38
6,467,826.84
Authorized but not Issued
General:
Bonds and Notes
150,057.35
765.15
553,695.00
Water Utility:
Bonds and Notes
69.00
69.00
69.00
Sewer Utility:
Bonds and Notes
333.09
333.09
290.00
Total Authorized but not Issued
150,459.44
1,167.24
554,054.00
Total Issued and Authorized
but not Issued
6,877,122.61
6,648,525.62
7,021,880.84
Deductions
Reserve for Payment of Debt
449,193.41
519,657.21
648,180.00
Cash Held to Pay Notes
82,567.80
Self-Liquidating Debt
1,751,612.09
1,321,832.09
1,467,309.00
Total Deductions
2,200,805.50
1,924,057.10
2,115,489.00
Net Debt
4,676,317.11
$
4,724,468.52
$
4,906,391.84
$
50
11600
Notes to Financial Statements (Cont'd)
Note 13: CAPITAL DEBT (CONT'D)
Summary of Statutory Debt Condition - Annual Debt Statement
The summarized statement of debt condition which follows is prepared in accordance with the
required method of setting up the Annual Debt Statement and indicated a statutory net debt of
1.770%.
Gross Debt
Deductions
Net Debt
Local School District
1,720,000.00
$
1,720,000.00
$
Water Utility
806,299.00
806,299.00
Sewer Utility
945,313.09
945,313.09
General
5,125,510.52
449,193.41
4,676,317.11
$
8,597,122.61
$
3,920,805.50
$
4,676,317.11
$
Net Debt $4,676,317.11 divided by the Equalized Valuation Basis per N.J.S.A.40A:2-2 as
amended, $264,152,043.00 equals 1.770%.
Borrowing Power Under NJSA 40A:2-6 As Amended
3 1/2% of Equalized Valuation Basis (Municipal)
9,245,321.51
$
Net Debt
4,676,317.11
Remaining Borrowing Power
4,569,004.40
$
Calculation of "Self-Liquidating Purpose,"
Water Utility Per NJSA 40A:2-45
Cash Receipts from Fees, Rents, Fund Balance
Anticipated, Interest and Other Investment
Income, and Other Charges for Year
873,503.42
$
Deductions:
Operating and Maintenance Cost
659,650.00
$
Debt Service per Water Fund
100,387.15
760,037.15
Excess in Revenue
113,466.27
$
51
11600
Notes to Financial Statements (Cont'd)
Note 13: CAPITAL DEBT (CONT'D)
Calculation of "Self-Liquidating Purpose,"
Sewer Utility Per NJSA 40A:2-45
Cash Receipts from Fees, Rents, Fund Balance
Anticipated, Interest and Other Investment
Income, and Other Charges for Year
725,546.34
$
Deductions:
Operating and Maintenance Cost
495,850.00
$
Debt Service per Sewer Fund
70,800.28
566,650.28
Excess in Revenue
158,896.06
$
Schedule of Annual Debt Service for Principal and Interest for Permanent Debt
Issued and Outstanding
Year
Principal
Interest
Total
2015
313,945.95
$
121,112.50
$
435,058.45
$
2016
315,856.94
112,226.25
428,083.19
2017
306,767.93
104,820.00
411,587.93
2018
319,753.98
96,720.00
416,473.98
2019
368,211.22
88,370.00
456,581.22
2020-2024
2,105,354.52
279,102.50
2,384,457.02
2025
497,360.63
18,093.76
515,454.39
4,227,251.17
$
820,445.01
$
5,047,696.18
$
General
52
11600
Notes to Financial Statements (Cont'd)
Note 13: CAPITAL DEBT (CONT'D)
Schedule of Annual Debt Service for Principal and Interest for Permanent Debt
Issued and Outstanding (Cont'd)
Year
Principal
Interest
Total
2015
60,500.00
$
9,715.75
$
70,215.75
$
2016
61,000.00
7,496.25
68,496.25
2017
69,500.00
5,160.00
74,660.00
2018
69,500.00
2,610.00
72,110.00
2019
9,500.00
1,185.00
10,685.00
2020-2022
29,500.00
1,830.00
31,330.00
299,500.00
$
27,997.00
$
327,497.00
$
Year
Principal
Interest
Total
2015
14,500.00
$
2,174.25
$
16,674.25
$
2016
16,000.00
1,635.00
17,635.00
2017
17,500.00
1,065.00
18,565.00
2018
5,500.00
675.00
6,175.00
2019
5,500.00
510.00
6,010.00
2020-2021
11,500.00
525.00
12,025.00
70,500.00
$
6,584.25
$
77,084.25
$
Water Utility
Sewer Utility
53
11600
Notes to Financial Statements (Cont'd)
Note 14: LEASE OBLIGATIONS
At December 31, 2014, the Borough had lease agreements in effect for the following:
Operating:
Four (4) Copiers
One (1) Postage Machine
Future minimum rental payments under operating lease agreements are as follows:
Year
Amount
2015
14,182.68
2016
13,167.31
2017
1,998.24
2018
1,998.24
2019
1,498.68
32,845.15
$
Rental payments under operating leases for the year 2014 were $14,083.56.
Note 15: OPEN SPACE, RECREATION, FARMLAND AND HISTORIC PRESERVATION TRUST
On November 7, 2000, pursuant to N.J.S.A. 40:12-15.1, et seq., the voters of the Borough of
Clementon authorized the establishment of the Borough of Clementon Open Space, Recreation,
Farmland and Historic Preservation Trust Fund, effective January 1, 2001, for the purpose of raising
revenue to acquire land, easements and or development rights to preserve undeveloped areas in the
Borough of Clementon and to maintain and study land in the Borough of Clementon. A plan was
prepared to identify lands for permanent open space, additions and improvements to existing parks and
schools and preservation of stream corridors and other environmentally sensitive areas. The Borough
proposed to levy a tax in the amount of two cents per one hundred dollars of assessed value. All
revenue received is accounted for in a Trust Fund dedicated by rider (N.J.S.A. 40A:4-39) for the
purposed stated. Interest earned on the investment of these funds is credited to the Open Space,
Recreation, Farmland and Historic Preservation Trust Fund.
Note 16: NEW JERSEY UNEMPLOYMENT COMPENSATION INSURANCE
The Borough has elected to fund its New Jersey Unemployment Compensation Insurance under the
"Benefit Reimbursement Method". Under this plan, the Borough is required to reimburse the New
Jersey Unemployment Trust Fund for benefits paid to its former employees and charged to its account
with the State. The Borough is billed quarterly for amounts due to the State. The following is a
summary of Borough contributions, reimbursements to the State for benefits paid and the ending
balance of the Borough's trust fund for the current and previous two years:
Borough
Amount
Ending
Year
Contributions
Reimbursed
Balance
2014
30,000.00
$
30,930.08
$
10,553.64
$
2013
7,522.54
7,522.54
8,088.48
2012
36,850.00
35,714.30
4,690.81
54
11600
Notes to Financial Statements (Cont'd)
Note 17: SUBSEQUENT EVENTS
Subsequent to December 31, 2014, the Borough of Clementon authorized additional Bonds and Notes
as follows:
Purpose
Date
Amount
General Capital Fund:
Completion of Various Capital Improvements
and the Acquisition of Equipment
5-19-2015
199,030.00
$
Water Utility Capital Fund:
Various Water Utility Improvements
5-19-2015
1,580,000.00
1,779,030.00
$
Note 18: TAX APPEALS
As of December 31, 2014, there were several tax appeals on file against the Borough related to tax
years 2011 through 2014. The Tax Assessor has estimated that the potential exposure to the Borough
from such appeals is approximately $273,860.00.
55
SUPPLEMENTAL EXHIBITS
SUPPLEMENTAL EXHIBITS
CURRENT FUND
Exhibit SA-1
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Current Cash
Per N.J.S.A. 40A: 5-5 - Collector and Treasurer
For the Year Ended December 31, 2014
Federal and State
Regular
Grant Fund
Balance December 31, 2013
1,294,102.31
$
1,064.42
$
Increased by Receipts:
Uniform Fire Safety Act Fees
29,073.61
$
Miscellaneous Revenue Not Anticipated
29,917.58
Petty Cash
100.00
Taxes Receivable
10,067,588.18
Tax Title Liens Receivable
9,372.10
Revenue Accounts Receivable
830,225.96
Due State of New Jersey--Veterans' and Senior Citizens' Deductions
63,002.19
Prepaid Taxes
69,163.74
Tax Overpayments
19,283.23
Due State of New Jersey--State Training Fees
2,028.00
Due State of New Jersey--Marriage and Civil Union Fees/Burial Permits
425.00
Accounts Payable
1,400.00
Due Animal Control
2,472.27
Due Trust Other Funds
64,141.09
Due General Capital Fund
70,463.80
Due Water Utility Operating Fund
43,624.02
Due Sewer Utility Operating Fund
80,000.00
Due Current Fund
51,063.52
$
Federal and State Grants Receivable
64,940.87
Reserve for Federal and State Grants--Appropriated
4,222.34
Matching Funds for Grants
58,456.50
11,382,280.77
178,683.23
Subtotal (Carried Forward)
12,676,383.08
179,747.65
(Continued)
11600
58
Exhibit SA-1
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Current Cash
Per N.J.S.A. 40A: 5-5 - Collector and Treasurer
For the Year Ended December 31, 2014
Federal and State
Regular
Grant Fund
11600
Subtotal (Brought Forward)
12,676,383.08
$
179,747.65
$
Decreased by Disbursements:
2014 Appropriations
4,138,733.87
$
Petty Cash
100.00
2013 Appropriation Reserves
145,470.46
Accounts Payable
500.00
Due State of New Jersey--State Training Fees
1,741.00
Due State of New Jersey--Marriage and Civil Union Fees/Burial Permits
425.00
County Taxes
2,294,134.04
Due County for Added and Omitted Taxes
1,219.92
Local District School Taxes
4,424,037.00
Reserve for Revaluation
4,647.50
Reserve for Encumbrances
821.87
$
Refund of Prior Year Revenue
13,645.55
Due Trust Other Funds
59,253.91
19,222.34
Due Municipal Open Space Trust Fund
114,982.98
Due General Capital Fund
83,510.77
Due Grant Fund
51,063.52
Due Sewer Utility Operating Fund
4,664.69
Reserve for Federal and State Grants--Appropriated
110,824.17
Contracts Payable
43,113.29
Matching Funds for Grants
58,456.50
11,396,586.71
173,981.67
Balance December 31, 2014
1,279,796.37
$
5,765.98
$
59
Exhibit SA-2
Schedule of Change Funds
Office
Amount
Tax Collector
75.00
$
Exhibit SA-3
Statement of Petty Cash Funds
For the Year Ended December 31, 2014
Received from
Returned to
Office
Treasurer
Treasurer
Finance
50.00
$
50.00
$
Police
50.00
50.00
100.00
$
100.00
$
11600
BOROUGH OF CLEMENTON
CURRENT FUND
As of December 31, 2014
CURRENT FUND
60
Exhibit SA-4
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Taxes Receivable and Analysis of Property Tax Levy
For the Year Ended December 31, 2014
Due from
Balance
Added
Collections
Overpayments
State of
Transferred to
Balance
Year
Dec. 31, 2013
2014 Levy
Taxes
2013
2014
Applied
New Jersey
Canceled
Tax Title Liens
Dec. 31, 2014
2008
0.03
$
0.03
$
2010
1,000.00
$
1,000.00
$
2011
1,573.06
750.00
2,323.06
2012
2,895.74
1,738.51
301.14
$
856.09
$
2013
346,616.02
4,000.00
341,623.38
5.54
2,005.07
6,982.03
351,084.85
-
5,750.00
-
346,684.95
-
-
5.57
2,306.21
7,838.12
2014
10,336,689.02
$
6,035.34
100,330.47
$
9,720,903.23
8,944.88
$
65,087.67
$
31,411.27
14,922.41
401,124.43
351,084.85
$
10,336,689.02
$
11,785.34
$
100,330.47
$
10,067,588.18
$
8,944.88
$
65,087.67
$
31,416.84
$
17,228.62
$
408,962.55
$
Analysis of 2014 Property Tax Levy
Tax Yield:
General Property Tax
10,333,436.73
$
Added Taxes (54:4-63.1 et. seq.)
3,252.29
10,336,689.02
$
Tax Levy:
Local School District Tax
4,424,037.00
$
Municipal Open Space Tax
57,235.28
County Taxes:
County Taxes
2,107,426.28
$
County Library
132,869.52
County Open Space
53,838.24
Due County for Added and Omitted Taxes
723.03
Total County Taxes
2,294,857.07
Local Tax for Municipal Purposes
3,557,634.74
Add: Additional Tax Levied
2,924.93
3,560,559.67
10,336,689.02
$
11600
61
Exhibit SA-5
Statement of Tax Title Liens Receivable
For the Year Ended December 31, 2014
Balance December 31, 2013
87,336.83
$
Increased by:
Refund of Prior Year Collections
10,645.55
$
Transfers from Taxes Receivable
17,228.62
Interest and Costs
3,131.37
31,005.54
118,342.37
Decreased by:
Collected
9,372.10
Balance December 31, 2014
108,970.27
$
11600
BOROUGH OF CLEMENTON
CURRENT FUND
62
Exhibit SA-6
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Revenue Accounts Receivable
For the Year Ended December 31, 2014
Balance
Accrued
Interfunds
Balance
Dec. 31, 2013
in 2014
Collected
Receivable
Dec. 31, 2014
Miscellaneous Revenue Anticipated:
Licenses:
Alcoholic Beverages
6,993.00
$
6,993.00
$
Other:
Mercantile
4,105.00
4,105.00
Rental Registration
45,139.00
45,139.00
Fees and Permits:
Tower Rental Fees
63,107.80
63,107.80
Registrar Fees
14,326.00
14,326.00
Apartment Code Inspection
4,510.00
4,510.00
Certificates of Occupancy Fees
3,081.00
3,081.00
Cable Franchise Fees
15,603.25
$
15,706.47
15,603.25
15,706.47
$
Year 2014
Municipal Court:
Fines and Costs
6,570.33
90,838.10
90,728.48
6,679.95
Dec. 2014
Interest and Costs on Taxes
110,478.57
110,478.57
Consolidated Municipal Property Tax Relief Aid
48,786.00
48,786.00
Energy Receipts Tax
381,794.00
381,794.00
Uniform Construction Code Fees
39,608.00
39,608.00
Miscellaneous Revenue Not Anticipated:
Interest Earned on Deposits
1.41
3,531.50
1,797.88
1,731.86
$
3.17
Dec. 2014
Police Department:
Accident Reports
5.98
5.98
Gun Permits
162.00
162.00
22,174.99
$
832,172.42
$
830,225.96
$
1,731.86
$
22,389.59
$
Due Trust Other Funds
722.46
$
Due General Capital Fund
1,009.40
1,731.86
$
11600
63
Exhibit SA-7
BOROUGH OF CLEMENTON
CURRENT FUND
For the Year Ended December 31, 2014
Balance
After
Balance
Encumbered
Reserved
Modification
Disbursed
Lapsed
Mayor and Council
Other Expenses
485.00
$
485.00
$
380.00
$
105.00
$
Municipal Clerk
Salaries and Wages
10,172.67
10,172.67
1,061.04
9,111.63
Other Expenses
342.73
$
2,702.56
3,045.29
2,984.53
60.76
Elections
Other Expenses
152.76
152.76
152.76
Financial Administration
Salaries and Wages
3,997.63
3,997.63
3,997.63
Other Expenses
530.69
2,673.71
3,204.40
530.69
2,673.71
Assessment of Taxes
Other Expenses
15.76
993.91
1,009.67
15.76
993.91
Collection of Taxes
Salaries and Wages
9.75
9.75
9.75
Other Expenses
62.00
15.19
77.19
62.00
15.19
Liquidation of Tax Title Liens and Foreclosed Property
Other Expenses
50.00
50.00
50.00
Legal Services and Costs
Other Expenses:
Miscellaneous Expenses
12,258.22
12,258.22
1,472.28
10,785.94
Municipal Prosecutor
Other Expenses
1,416.66
0.04
1,416.70
1,416.66
0.04
Engineering Services and Costs
Other Expenses
130.00
3,886.00
4,016.00
227.50
3,788.50
Maintenance of Foreclosed Property
Other Expenses
95.03
95.03
95.03
Public Buildings and Grounds
Other Expenses
2,055.11
6,674.30
16,229.41
7,023.97
9,205.44
Historic Commission
Other Expenses
300.00
300.00
300.00
Administrative
Salaries and Wages
681.04
681.04
681.04
Other Expenses
4,870.70
4,870.70
4,870.70
Planning Board
Salaries and Wages
35.57
35.57
35.57
Other Expenses
413.44
651.66
1,065.10
413.44
651.66
Shade Tree Commission
Other Expenses
300.00
780.00
1,080.00
300.00
780.00
Environmental Commission
Other Expenses
35.00
35.00
35.00
Fire
Salaries and Wages
149.48
149.48
149.48
Miscellaneous Other Expenses
13,243.95
14,958.73
34,702.68
19,721.16
14,981.52
Police
Salaries and Wages
65,409.39
41,409.39
41,409.39
Other Expenses
42,798.57
2,193.46
54,992.03
50,914.63
4,077.40
Municipal Court
Salaries and Wages
1,897.00
1,897.00
1,897.00
Other Expenses
182.89
4,367.80
4,550.69
182.89
4,367.80
Public Defender
Other Expenses
383.33
3,253.04
3,636.37
3,636.37
First Aid
Contribution to Pine Hill
2,001.00
96.00
2,097.00
2,001.00
96.00
(Continued)
11600
Balance Dec. 31, 2013
Statement of Appropriation Reserves
64
Exhibit SA-7
BOROUGH OF CLEMENTON
CURRENT FUND
For the Year Ended December 31, 2014
Balance
After
Balance
Encumbered
Reserved
Modification
Disbursed
Lapsed
11600
Balance Dec. 31, 2013
Statement of Appropriation Reserves
Office of Emergency Management
Other Expenses
92.45
$
92.45
$
92.45
$
Uniform Fire Safety Code (Ch. 383 P.L. 1985)
Fire Official
Other Expenses
3,654.52
$
480.12
4,134.64
3,190.52
$
944.12
Streets and Roads
Salaries and Wages
23,175.52
23,175.52
23,175.52
Other Expenses
2,811.29
8,600.30
11,411.59
2,445.63
8,965.96
Solid Waste Collection
Other Expenses
14,941.66
11,166.75
26,108.41
14,941.66
11,166.75
Vehicle Maintenance
7,662.84
2,769.26
10,432.10
7,778.57
2,653.53
Board of Health
Other Expenses
500.00
500.00
500.00
Services of Visiting Nurse
Other Expenses
100.00
100.00
100.00
Administration of Public Assistance
Other Expenses
1.00
1.00
1.00
Parks and Playgrounds
Other Expenses
3,109.19
3,109.19
3,109.19
Celebration of Public Events, Holidays, or Anniversaries
Other Expenses
867.91
244.80
1,112.71
867.91
244.80
Compensated Absences
100.00
100.00
100.00
Insurance
Unemployment Insurance
7,477.46
7,477.46
7,477.46
Group Insurance Plan for Employees
10,840.22
10,840.22
10,840.22
Health Benefit Waiver
3,163.71
3,163.71
3,163.71
Workmen's Compensation Insurance
2,000.00
2,000.00
2,000.00
Landfill/Solid Waste
Garbage and Trash Removal
Landfill/Solid Waste
10,456.96
21,337.32
31,794.28
10,456.96
21,337.32
Construction Code Official
Salaries and Wages
1,983.32
1,983.32
1,983.32
Other Expenses
614.00
2,681.91
3,295.91
614.00
2,681.91
Fire Inspector
Salaries and Wages
864.40
864.40
864.40
Plumbing Inspector
Salaries and Wages
0.08
0.08
0.08
Electrical Inspector
Salaries and Wages
12.72
12.72
12.72
Code Enforcement Officer
Salaries and Wages
669.14
669.14
669.14
Other Expenses
204.55
70.72
275.27
204.55
70.72
Utility and Bulk Purchases
Oil
1,682.70
1,682.70
1,181.04
501.66
Telephone
1,061.29
1,482.23
2,543.52
1,541.29
1,002.23
Street Lighting
7,484.64
7,484.64
7,484.64
Maintenance of Traffic Lights
5,507.00
5,507.00
5,507.00
Gasoline
15,825.41
15,825.41
3,957.83
11,867.58
Electric Utility
753.55
7,867.72
8,621.27
753.55
7,867.72
Hydrant
100.00
100.00
100.00
(Continued)
65
Exhibit SA-7
BOROUGH OF CLEMENTON
CURRENT FUND
For the Year Ended December 31, 2014
Balance
After
Balance
Encumbered
Reserved
Modification
Disbursed
Lapsed
11600
Balance Dec. 31, 2013
Statement of Appropriation Reserves
Contingent
100.00
$
100.00
$
100.00
$
Statutory Expenditures:
Contribution to:
Social Security System (O.A.S.I.)
8,349.44
8,349.44
8,349.44
Defined Contribution Retirement Plan
1.00
1.00
1.00
Operation Excluded From "CAPS"
Recycling Tax
480.36
$
922.62
1,402.98
480.36
$
922.62
115,734.10
$
286,259.75
$
401,993.85
$
145,470.46
$
256,523.39
$
66
Exhibit SA-8
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Due to/from State of New Jersey
Veterans' and Senior Citizens' Deductions
For the Year Ended December 31, 2014
Balance December 31, 2013 (Due from)
2,989.13
$
Increased by:
Accrued in 2014:
Deductions Allowed per Tax Billings
66,750.00
$
Deductions Allowed by Tax Collector
2,750.00
69,500.00
Less: Deductions Disallowed by Collector
4,412.33
65,087.67
$
Deductions Disallowed by Tax Collector--Prior Year Taxes
5,750.00
59,337.67
62,326.80
Decreased by:
Received from State of New Jersey
63,002.19
Balance December 31, 2014 (Due to)
675.39
$
Exhibit SA-9
Statement of Accounts Payable
For the Year Ended December 31, 2014
Balance December 31, 2013
500.00
$
Increased by:
Cash Receipts
1,400.00
$
Charged to Appropriations
1,375.40
2,775.40
3,275.40
Decreased by:
Disbursed
500.00
Balance December 31, 2014
2,775.40
$
11600
CURRENT FUND
67
Exhibit SA-10
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Prepaid Taxes
For the Year Ended December 31, 2014
Balance December 31, 2013
100,330.47
$
Increased by:
Collections--2015 Taxes Receivable
69,163.74
169,494.21
Decreased by:
Application to 2014 Taxes Receivable
100,330.47
Balance December 31, 2014
69,163.74
$
Exhibit SA-11
Statement of Tax Overpayments
Balance December 31, 2013
20,639.60
$
Increased by:
Overpayments in 2014
19,283.23
39,922.83
Decreased by:
Applied to Taxes Receivable
8,944.88
Balance December 31, 2014
30,977.95
$
For the Year Ended December 31, 2014
CURRENT FUND
11600
68
Exhibit SA-12
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Due to State of New Jersey
For the Year Ended December 31, 2014
Balance December 31, 2013
235.00
$
Increased by:
Receipts
2,028.00
2,263.00
Decreased by:
Disbursements
1,741.00
Balance December 31, 2014
522.00
$
Exhibit SA-13
Statement of Due to State of New Jersey
Marriage and Civil Union Licenses and Burial Permits
For the Year Ended December 31, 2014
Balance December 31, 2013
150.00
$
Increased by:
Receipts
425.00
575.00
Decreased by:
Disbursements
425.00
Balance December 31, 2014
150.00
$
11600
State Training Fees
CURRENT FUND
69
Exhibit SA-14
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of County Taxes Payable
For the Year Ended December 31, 2014
2014 Levy:
General County
2,107,426.28
$
County Library
132,869.52
County Open Space
53,838.24
2,294,134.04
$
Decreased by:
Disbursements
2,294,134.04
$
Exhibit SA-15
CURRENT FUND
Statement of Municipal Open Space Taxes Payable
For the Year Ended December 31, 2014
2014 Levy
57,217.26
$
Municipal Open Space Share of Added Assessments
18.02
57,235.28
$
Decreased by:
Due Trust Other Funds:
Reserve for Open Space, Recreation Farmland and Historic Preservation
57,235.28
$
11600
70
Exhibit SA-16
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Due County for Added and Omitted Taxes
For the Year Ended December 31, 2014
Balance December 31, 2013
1,219.92
$
Increased by:
County Share of 2014 Levy:
Added Taxes
723.03
1,942.95
Decreased by:
Disbursements
1,219.92
Balance December 31, 2014
723.03
$
Exhibit SA-17
CURRENT FUND
Statement of Local District School Taxes
For the Year Ended December 31, 2014
School Tax Levy - Calendar Year 2014
4,424,037.00
$
Decreased by:
Disbursements
4,424,037.00
$
11600
71
Exhibit SA-18
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Deferred Charges
N.J.S. 40A:4-55 Special Emergency Authorizations
For the Year Ended December 31, 2014
1/5 of
Raised in
Date
Net Amount
Net Amount
Balance
2014
Authorized
Purpose
Authorized
Authorized
Dec. 31, 2013
Budget
3-16-10
Revaluation
259,468.00
$
51,894.00
$
51,892.00
$
51,892.00
$
11600
72
11600
Exhibit SA-19
Schedule of Special Emergency Notes Payable
Date of
Ordinance
Original
Date of
Date of
Interest
Description
Number
Issue
Issue
Maturity
Rate
Amount
Revaluation
2010-03
3-11-11
12-10-13
12-09-14 (1)
2.50%
51,892.00
$
(1) Note paid 1-07-15 - See Finding 2014-002
BOROUGH OF CLEMENTON
CURRENT FUND
As of December 31, 2014
73
Exhibit SA-20
BOROUGH OF CLEMENTON
CURRENT FUND
Statement of Reserve for Revaluation
For the Year Ended December 31, 2014
Balance December 31, 2013
88,239.40
$
Decreased by:
Disbursed
4,647.50
Balance December 31, 2014
83,591.90
$
Exhibit SA-21
Statement of Contracts Payable
For the Year Ended December 31, 2014
Balance December 31, 2013
87,609.20
$
Decreased by:
Disbursed
43,113.29
Balance December 31, 2014
44,495.91
$
11600
FEDERAL AND STATE GRANT FUND
74
Exhibit SA-22
BOROUGH OF CLEMENTON
FEDERAL AND STATE GRANT FUND
Statement of Federal and State Grants Receivable
For the Year Ended December 31, 2014
Balance
Balance
Program
Dec. 31, 2013
Accrued
Received
Dec. 31, 2014
Federal Programs:
New Jersey Department of Transportation
59,134.85
$
59,134.85
$
Justice Assistance Grant
210.35
210.35
Over the Limit Under Arrest
250.00
250.00
Total Federal Programs
59,595.20
-
-
59,595.20
State Programs:
Clean Communities Program
8,960.10
$
8,960.10
$
Body Armor Replacement Fund
1,512.22
1,512.22
NJDEP--NJ Forest Service Stimulus Fund
4,400.00
4,400.00
Recycling Tonnage Grant
4,701.56
4,701.56
Green Communities
3,000.00
3,000.00
Municipal Alliance on Alcoholism and Drug Abuse
1,408.95
9,546.00
8,492.99
2,461.96
Safe and Secure Communities Program
118,548.00
31,274.00
31,274.00
118,548.00
Total State Programs
127,356.95
55,993.88
54,940.87
128,409.96
Local Programs:
Camden County Open Space Grant
25,000.00
25,000.00
50,000.00
Sumner Station Police Grant
5,000.00
5,000.00
Sumner Station Fire Grant
5,000.00
5,000.00
Total Local Programs
25,000.00
35,000.00
10,000.00
50,000.00
Total All Programs
211,952.15
$
90,993.88
$
64,940.87
$
238,005.16
$
11600
75
Exhibit SA-23
BOROUGH OF CLEMENTON
FEDERAL AND STATE GRANT FUND
Statement of Reserve for Federal and State Grants - Unappropriated
For the Year Ended December 31, 2014
Realized as
Miscellaneous
Balance
Grants
Revenue in
Balance
Program
Dec. 31, 2013
Receivable
2014 Budget
Dec. 31, 2014
State Programs:
Clean Communities Program
9,554.54
$
8,960.10
$
9,554.54
$
8,960.10
$
Body Armor Replacement Fund
1,755.82
1,512.22
1,755.82
1,512.22
Recycling Tonnage Grant
5,675.10
4,701.56
5,675.10
4,701.56
Municipal Alliance on Alcoholism and Drug Abuse
9,546.00
9,546.00
Safe and Secure Communities Program
31,274.00
31,274.00
Total State Programs
16,985.46
55,993.88
57,805.46
15,173.88
Local Programs:
Camden County Open Space Grant
25,000.00
25,000.00
Adopt a Road
500.00
500.00
Sumner Station Foundation--Police Grant
5,000.00
5,000.00
Sumner Station Foundation--Fire Grant
5,000.00
5,000.00
Total Local Programs
500.00
35,000.00
25,500.00
10,000.00
Total All Programs
17,485.46
$
90,993.88
$
83,305.46
$
25,173.88
$
11600
76
Exhibit SA-24
BOROUGH OF CLEMENTON
FEDERAL AND STATE GRANT FUND
Statement of Reserve for Federal and State Grants - Appropriated
For the Year Ended December 31, 2014
Transferred from
Balance
2014 Budget
Balance
Program
Dec. 31, 2013
Appropriation
Disbursed
Refunds
Dec. 31, 2014
Federal Programs:
Municipal Stormwater Regulation Program
2,638.56
$
2,638.56
$
New Jersey Department of Transportation
4,222.34
$
4,222.34
Over the Limit Under Arrest
250.00
250.00
Total Federal Programs
2,888.56
-
-
4,222.34
7,110.90
State Programs:
Pothole Program
348.25
348.25
Drunk Driving Enforcement Grant
7,017.52
666.15
$
6,351.37
Recycling Tonnage Grant
23,311.67
5,675.10
$
28,986.77
Clean Communities Program
928.69
9,554.54
7,487.14
2,996.09
Green Communities
400.00
400.00
Body Armor Replacement Fund
4,509.14
1,755.82
3,180.00
3,084.96
NJDEP--NJ Forest Service Stimulus Fund
7,000.15
7,000.15
Municipal Alliance on Alcoholism and Drug Abuse
11,227.86
11,932.50
8,956.06
14,204.30
Safe and Secure Communities Program
1,192.15
87,344.00
87,344.00
1,192.15
Total State Programs
55,935.43
116,261.96
107,633.35
64,564.04
Local Programs:
Adopt a Road
500.00
500.00
1,000.00
Sumner Station Foundation--Police Grant
4,845.33
1,585.82
3,259.51
Sumner Station Foundation--Fire Grant
10,000.00
4,950.00
5,050.00
Camden County Open Space Grant
25,000.00
25,000.00
50,000.00
Camden County Open Space Pedestrian Walkway
5,350.00
5,350.00
Recycling Tonnage Rebate Program
2,580.72
2,580.72
Total Local Programs
48,276.05
25,500.00
6,535.82
-
67,240.23
Total All Programs
107,100.04
$
141,761.96
$
114,169.17
$
4,222.34
$
138,915.17
$
Disbursed
110,824.17
$
Reserve for Encumbrances
3,345.00
114,169.17
$
11600
77
Exhibit SA-25
Reserve for Encumbrances
For the Year Ended December 31, 2014
Balance December 31, 2013
821.47
$
Increased by:
Charged to Appropriated Reserves
3,345.00
4,166.47
Decreased by:
Disbursed
821.47
Balance December 31, 2014
3,345.00
$
11600
FEDERAL AND STATE GRANT FUND
BOROUGH OF CLEMENTON
78
SUPPLEMENTAL EXHIBITS
TRUST FUND
Exhibit SB-1
Animal Control
Trust Other Funds
Municipal Open Space
Balance December 31, 2013
6,266.57
$
558,548.06
$
350,915.92
$
Increased by Receipts:
Reserve for Dog Fund Expenditures
19,349.54
$
State Registration Fees
446.40
Due Current Fund
58,871.67
$
114,982.98
$
Due Federal and State Grant Fund
19,222.34
Due General Capital Fund
9,298.45
Due Sewer Utility Operating Fund
258.01
Reserve for Open Space, Recreation Farmland and Historic Preservation
286.12
Reserve for Community Development Block Grant Program
32,129.00
Reserve for Payroll Deductions Payable
1,010,809.23
Reserve for Uniform Fire Safety Act Penalties
8,045.09
Reserve for Parking Offenses Adjudication Act
22.00
Reserve for Police Outside Employment
18,513.88
Reserve for DARE Program
4.38
Reserve for Municipal Forfeiture Fund
4,604.71
Reserve for Unemployment Compensation
33,395.24
Reserve for Developer's Escrow Deposits
31,322.50
Reserve for Redemption of Tax Sale Certificates
699,654.15
Reserve for Tax Sale Premiums
223,300.00
Reserve for Federal Drug Enforcement Fund
2.28
Reserve for Street Openings
1,000.00
Other Accounts Receivable
2,975.00
Net Payroll
1,544,564.80
19,795.94
3,697,992.73
115,269.10
26,062.51
4,256,540.79
466,185.02
(Continued)
For the Year Ended December 31, 2014
11600
BOROUGH OF CLEMENTON
TRUST FUND
Statement of Trust Cash
Per N.J.S.A. 40A:5-5 - Treasurer and Collector
80
Exhibit SB-1
Animal Control
Trust Other Funds
Municipal Open Space
For the Year Ended December 31, 2014
11600
BOROUGH OF CLEMENTON
TRUST FUND
Statement of Trust Cash
Per N.J.S.A. 40A:5-5 - Treasurer and Collector
Decreased by Disbursements
Expenditures under R.S. 4:19-15.11
22,761.03
$
State Registration Fees
445.40
Due Current Fund
2,472.27
59,295.59
$
Due Water Utility Operating Fund
176.56
Reserve for Open Space, Recreation Farmland and Historic Preservation
205,899.50
$
Reserve for Community Development Block Grant Program
29,822.34
Reserve for Payroll Deductions Payable
990,664.24
Reserve for Uniform Fire Safety Act Penalties
28,968.01
Reserve for Police Outside Employment
21,403.88
Reserve for Municipal Forfeiture Fund
5,411.00
Reserve for Unemployment Compensation
19,092.08
Reserve for Community Events
348.00
Reserve for Developer's Escrow Deposits
38,536.55
Reserve for Redemption of Tax Sale Certificates
699,615.49
Reserve for Premiums Received at Tax Sale
207,600.00
Contracts Payable
15,000.00
Other Accounts Receivable
12,543.35
Net Payroll
1,544,564.80
25,678.70
$
3,673,041.89
$
205,899.50
Balance December 31, 2014
383.81
$
583,498.90
$
260,285.52
$
81
Exhibit SB-2
Balance December 31, 2013
3,794.30
$
Increased by:
Current Fund Budget Appropriations
17,000.00
$
Dog License Fees
1,799.15
Cat License Fees
546.80
Interest Earned on Deposits
3.59
19,349.54
23,143.84
Decreased by:
Disbursements:
Expenditures under R.S. 4:19-15.11:
22,761.03
Balance December 31, 2014
382.81
$
License Fees Collected
Year
Amount
2012
1,882.60
$
2013
1,811.25
3,693.85
$
Statement of Reserve for Animal Control Expenditures
For the Year Ended December 31, 2014
11600
BOROUGH OF CLEMENTON
TRUST ANIMAL CONTROL FUND
82
Exhibit SB-3
State Registration Fees Collected
446.40
$
Decreased by:
Disbursements
445.40
Balance December 31, 2014
1.00
$
Exhibit SB-4
Balance December 31, 2013 (Due from)
57,665.72
$
Increased by:
Municipal Open Space Portion of Added and Omitted Taxes
18.02
$
2014 Municipal Open Space Tax Levy
57,217.26
57,235.28
114,901.00
Decreased by:
Interfund Loans Received
114,982.98
Balance December 31, 2014 (Due to)
81.98
$
Statement of Due to/from Current Fund
For the Year Ended December 31, 2014
MUNICIPAL OPEN SPACE FUND
11600
BOROUGH OF CLEMENTON
TRUST ANIMAL CONTROL FUND
Statement of Due to State of New Jersey
For the Year Ended December 31, 2014
83
11600
Exhibit SB-5
Balance December 31, 2013
19,568.84
$
Increased by:
Receipts:
Interest Earned on Deposits
722.46
$
Police Outside Service Administration Fees
3,740.80
4,463.26
$
Interfund Loans Received
54,408.41
58,871.67
$
Public Defender Expenditures Disbursed by Current Fund
4,845.50
63,717.17
83,286.01
Decreased by:
Public Defender Fees Collected by Current Fund
4,845.50
Interfund Loans Returned
59,295.59
64,141.09
Balance December 31, 2014
19,144.92
$
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Due to Current Fund
For the Year Ended December 31, 2014
84
11600
Exhibit SB-6
Balance December 31, 2013
72,506.66
$
Increased by:
Entitlements Accrued in 2014:
Year 36
24,900.00
97,406.66
Decreased by:
Receipts
32,129.00
Balance December 31, 2014
65,277.66
$
Analysis of Balance Dec. 31, 2014
Entitlement
Project
Year
Amount
Ohio Ave
34
15,477.66
$
Ohio Ave
35
9,900.00
Senior Transportation Services
35
15,000.00
Ohio Ave
36
24,900.00
65,277.66
$
For the Year Ended December 31, 2014
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Community Development Block Grant Receivable
85
Exhibit SB-7
Balance December 31, 2013
408,581.64
$
Increased by:
Due Current Fund:
2014 Municipal Open Space Tax Levy
57,217.26
$
Municipal Portion of Added and Omitted Assessments
18.02
57,235.28
$
Receipts:
Interest Earned on Deposits
286.12
57,521.40
466,103.04
Decreased by:
Encumbered
5,993.50
Disbursements
205,899.50
211,893.00
Balance December 31, 2014
254,210.04
$
For the Year Ended December 31, 2014
11600
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for Open Space, Recreation Farmland and Historic Preservation
86
Exhibit SB-8
Balance December 31, 2013
49,706.66
$
Increased by:
Entitlements Accrued in 2014:
Year 36
24,900.00
74,606.66
Decreased by:
Disbursed
29,822.34
Balance December 31, 2014
44,784.32
$
Analysis of Balance December 31, 2014
Entitlement
Project
Year
Amount
Ohio Ave
35
4,884.32
$
Senior Transportation
35
15,000.00
Ohio Ave
36
24,900.00
44,784.32
$
For the Year Ended December 31, 2014
11600
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for Community Development Block Grant Program
87
11600
Exhibit SB-9
Balance December 31, 2013
25,340.51
$
Increased by:
Payroll Deductions and Employer Share of Social Security
1,010,809.23
1,036,149.74
Decreased by:
Disbursements
990,664.24
Balance December 31, 2014
45,485.50
$
Analysis of Balance December 31, 2014
Deduction
Amount
Federal Withholding, Social Security/Medicare
(219.94)
$
New Jersey State Withholding
160.72
SUI/SDI
2,307.36
Pretax Health
38.38
PERS
10,516.50
PFRS
21,374.86
NJ Support/Probation
(205.38)
Union Dues
(208.80)
NY Life Insurance
(1,447.46)
Colonial Penn
(1,091.04)
Aflac
(100.38)
USA Payroll
178.24
Command Officer
(20.00)
Equitable
(60.00)
CPA Dues
(540.00)
Unallocated
14,802.44
45,485.50
$
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for Payroll Deductions Payable
For the Year Ended December 31, 2014
88
11600
Exhibit SB-10
Balance December 31, 2013
77,126.09
$
Increased by:
Receipts:
Interest Earned on Deposits
45.09
$
Penalties
8,000.00
8,045.09
85,171.18
Decreased by:
Disbursements
28,968.01
Balance December 31, 2014
56,203.17
$
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for Uniform Fire Safety Act Penalties
For the Year Ended December 31, 2014
89
11600
Exhibit SB-11
Balance December 31, 2013
344.00
$
Increased by:
Receipts
22.00
Balance December 31, 2014
366.00
$
Exhibit SB-12
Balance December 31, 2013
13,229.68
$
Increased by:
Receipts
18,513.88
31,743.56
Decreased by:
Disbursements
21,403.88
Balance December 31, 2014
10,339.68
$
TRUST OTHER FUND
Statement of Reserve for Police Outside Employment
For the Year Ended December 31, 2014
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for Parking Offenses Adjudication Act
For the Year Ended December 31, 2014
90
11600
Exhibit SB-13
Balance December 31, 2013
6,668.16
$
Increased by:
Interest Earned on Deposits
4.38
Balance December 31, 2014
6,672.54
$
Exhibit SB-14
Balance December 31, 2013
8,554.58
$
Increased by:
Interest Earned on Deposits
11.31
$
Deposits
4,593.40
4,604.71
13,159.29
Decreased by:
Disbursements
5,411.00
Balance December 31, 2014
7,748.29
$
TRUST OTHER FUND
Statement of Reserve for Municipal Forfeiture Fund
For the Year Ended December 31, 2014
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for DARE Program
For the Year Ended December 31, 2014
91
11600
Exhibit SB-15
Balance December 31, 2013
8,088.48
$
Increased by:
Receipts:
Interest Earned on Deposits
5.31
$
Current Fund Budget Appropriation
30,000.00
Employee Deductions
3,389.93
33,395.24
41,483.72
Decreased by:
Due to State of New Jersey
11,838.00
Disbursements:
Payment of Claims
19,092.08
30,930.08
Balance December 31, 2014
10,553.64
$
Exhibit SB-16
Balance December 31, 2013
8,236.93
$
Decreased by:
Disbursements
348.00
Balance December 31, 2014
7,888.93
$
TRUST OTHER FUND
Statement of Reserve for Community Events
For the Year Ended December 31, 2014
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for New Jersey State Unemployment Compensation Insurance
For the Year Ended December 31, 2014
92
Exhibit SB-17
Balance December 31, 2013
76,655.75
$
Increased by:
Receipts:
Escrow Deposits
31,322.50
107,978.25
Decreased by:
Disbursements
38,536.55
Balance December 31, 2014
69,441.70
$
Exhibit SB-18
Fees Collected by Current Fund
4,845.50
$
Decreased by:
Disbursed by Current Fund
4,845.50
$
Statement of Reserve for Public Defender Fees
For the Year Ended December 31, 2014
For the Year Ended December 31, 2014
11600
Statement of Reserve for Developer's Escrow Deposits
BOROUGH OF CLEMENTON
TRUST OTHER FUND
TRUST OTHER FUND
93
Exhibit SB-19
Balance December 31, 2013
73.68
$
Increased by:
Deposits for Redemption of Tax Title Liens
699,654.15
699,727.83
Decreased by:
Disbursements:
Redemption of Tax Title Liens
699,615.49
Balance December 31, 2014
112.34
$
Exhibit SB-20
Balance December 31, 2013
265,000.00
$
Increased by:
Receipts:
Deposits for Premiums of Tax Title Liens
223,300.00
488,300.00
Decreased by:
Disbursements:
Premiums of Tax Title Liens
207,600.00
Balance December 31, 2014
280,700.00
$
Statement of Premiums Received at Tax Sales
For the Year Ended December 31, 2014
BOROUGH OF CLEMENTON
11600
TRUST OTHER FUND
Statement of Reserve for Redemption of Tax Sale Certificates
TRUST OTHER FUND
For the Year Ended December 31, 2014
94
11600
Exhibit SB-21
Balance December 31, 2013
15,000.00
$
Decreased by:
Disbursed
15,000.00
$
Exhibit SB-22
Balance December 31, 2013
2,021.11
$
Increased by:
Receipts:
Interest Earned on Deposits
2.28
Balance December 31, 2014
2,023.39
$
TRUST OTHER FUND
Statement of Reserve for Federal Drug Enforcement Fund
For the Year Ended December 31, 2014
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Contracts Payable
For the Year Ended December 31, 2014
95
11600
Exhibit SB-23
Balance December 31, 2013
2,000.00
$
Increased by:
Deposits for Street Openings
1,000.00
Balance December 31, 2014
3,000.00
$
Exhibit SB-24
Balance December 31, 2013
4,060.00
$
Increased by:
Disbursements
12,543.35
16,603.35
Decreased by:
Receipts
2,975.00
Balance December 31, 2014
13,628.35
$
Analysis of Balance December 31, 2014
Police Outside Services
13,313.59
$
Unemployment
314.76
13,628.35
$
For the Year Ended December 31, 2014
BOROUGH OF CLEMENTON
TRUST OTHER FUND
Statement of Reserve for Street Openings
For the Year Ended December 31, 2014
TRUST OTHER FUND
Statement of Other Accounts Receivable
96
SUPPLEMENTAL EXHIBITS
GENERAL CAPITAL FUND
Exhibit SC-1
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of General Capital Cash
Per N.J.S. 40A: 5-5 - Treasurer
For the Year Ended December 31, 2014
Balance December 31, 2013
1,125,205.00
$
Increased by Receipts:
Due Current Fund
84,520.17
$
Due Water Utility Operating Fund
2,766.29
Due Sewer Utility Operating Fund
5,314.69
Due Sewer Utility Capital Fund
2,583.51
Improvement Authorizations
14,893.34
Bond Anticipation Notes
748,202.00
858,280.00
1,983,485.00
Decreased by Disbursements:
Due Current Fund
70,463.80
Due Trust Other Fund
9,298.45
Due Water Utility Capital Fund
383.34
Improvement Authorizations
127,510.43
Contracts Payable
51,216.00
Reserve for Encumbrances
61,203.48
Bond Anticipation Notes
792,770.00
1,112,845.50
Balance December 31, 2014
870,639.50
$
11600
98
11600
Exhibit SC-2
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Analysis of General Capital Cash
For the Year Ended December 31, 2014
Disbursements
Bond
Bond
Balance
Anticipation
Improvement
Anticipation
Balance
Dec. 31, 2013
Notes
Miscellaneous
Authorizations
Notes
Miscellaneous
From
To
Dec. 31, 2014
Capital Improvement Fund
51,691.50
$
9,858.00
$
41,833.50
$
Improvement Authorizations:
Ordinance
Number
02-22)
Acquisition of Phone System, Computer System
03-04)
including Hardware and Software, for
03-12)
Municipal Building and Reconstruction,
Resurfacing and Installation of Curbing on
Delaware Avenue, Elton Avenue and Wilson
Avenue
4,115.86
4,115.86
06-13
Reconstruction & Resurfacing of Park Boulevard, Acquisition
of a Four-Wheel Drive Vehicle and Renovations &
and Improvements to the Senior/Recreation Center
(765.00)
(765.00)
07-11
Completion of Various Capital Improvements and the
Acquisition of Various Pieces of Equipment
35,318.02
27,088.00
$
8,230.02
08-10
Completion of Various Capital Improvements and the
Acquisition of Various Pieces of Equipment
59,199.35
59,199.35
11-03
Various Road Improvements to Silver Lake Drive in
and for the Borough of Clementon
0.20
$
(0.20)
11-09
Acquisition of Generators for the Fire Hall and Public
Works Building and the Resurfacing of the
Fire Hall Parking Lot
211,945.62
13,940.00
153,675.00
44,330.62
11-12
Completion of Various Capital Improvements and
the Acquisition of Various Pieces of Equipment
49,338.96
14,893.34
$
1,406.90
62,825.40
11-15
Acquisition of Office Equipment and Furniture for
the Police Department and Municipal Offices and
Various Improvements to Borough Hall
11,500.00
1,000.00
10,500.00
12-04
Resurfacing of the Fire Hall Parking lot
49,885.42
49,885.42
12-16
Completion of Various Capital Improvements and
the Acquisition of Equipment
33,780.77
6,803.11
74.95
86.00
$
26,988.71
13-11
Acquisition of Police Utility Vehicles
2,380.62
2,380.62
14-05
Completion of Various Capital Improvements and
77,272.42
17,373.36
7,858.00
(86,787.78)
the Acquisition of Equipment
(Continued)
Receipts
Transfers
99
11600
Exhibit SC-2
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Analysis of General Capital Cash
For the Year Ended December 31, 2014
Disbursements
Bond
Bond
Balance
Anticipation
Improvement
Anticipation
Balance
Dec. 31, 2013
Notes
Miscellaneous
Authorizations
Notes
Miscellaneous
From
To
Dec. 31, 2014
Receipts
Transfers
Improvement Authorizations (Cont'd):
Ordinance
Number
14-10
Completion of Various Capital Improvements and
the Acquisition of Equipment
38,000.00
$
2,000.00
$
40,000.00
$
Contracts Payable
51,216.00
$
51,216.00
$
150,615.00
150,615.00
Reserve for Encumbrances
62,503.68
61,203.48
86.00
$
20,508.31
21,722.51
Reserve for Payment of Bonds and Loans
519,657.21
70,463.80
449,193.41
Cash Held to Pay Notes
82,567.80
82,567.80
$
Fund Balance
256.00
256.00
Contra
710,202.00
710,202.00
Due Trust Other Fund
(5,594.89)
9,298.45
(14,893.34)
Due Water Utility Operating Fund
(2,766.29)
2,766.29
$
Due Sewer Utility Operating Fund
(5,314.69)
5,314.69
Due Water Utility Capital Fund
383.34
383.34
Due Sewer Utility Capital Fund
(2,583.51)
2,583.51
Due Current Fund
(83,510.77)
84,520.17
70,463.80
70,463.80
1,009.40
1,125,205.00
$
748,202.00
$
110,078.00
$
127,510.43
$
792,770.00
$
192,565.07
$
251,531.11
$
251,531.11
$
870,639.50
$
100
11600
Exhibit SC-3
BOROUGH OF CLEMENTON
Bond
Unexpended
Ordinance
Balance
2014
Balance
Anticipation
Improvement
Number
Improvement Description
Dec. 31, 2013
Authorizations
Dec. 31, 2014
Notes
Expenditures
Authorizations
06-13
Reconstruction & Resurfacing of Park Boulevard, Acquisition of a Four-
Wheel Drive Vehicle and Renovations & Improvements to the Senior/
Recreation Center
765.00
$
765.00
$
765.00
$
11-03
Various Road Improvements to Silver Lake Drive In
and For the Borough of Clementon
9,137.20
9,137.20
9,137.00
$
0.20
11-05
Acquisition of Sport Utility Vehicles for the Police
Department
69,350.00
69,350.00
69,350.00
11-12
Completion of Various Capital Improvements and
the Acquisition of Various Pieces of Equipment
173,340.15
173,340.15
173,340.00
0.15
$
12-04
Resurfacing of the Fire Hall Parking lot
190,000.00
190,000.00
190,000.00
12-16
Completion of Various Capital Improvements and
the Acquisition of Equipment
201,875.00
201,875.00
201,875.00
13-11
Acquisition of Police Utility Vehicles
66,500.00
66,500.00
66,500.00
14-05
Completion of Various Capital Improvements and
the Acquisition of Equipment
149,292.00
$
149,292.00
86,787.78
62,504.22
14-10
Completion of Various Capital Improvements and
the Acquisition of Equipment
38,000.00
38,000.00
38,000.00
710,967.35
$
187,292.00
$
$
898,259.35
$
748,202.00
$
87,552.98
$
62,504.37
$
Improvement Authorizations - Unfunded
242,584.52
$
Less: Unexpended Proceeds of Bond Anticipation Notes Issued
Ordinance No:
11-12
62,825.40
$
12-04
49,885.42
12-16
26,988.71
13-11
2,380.62
14-10
38,000.00
180,080.15
62,504.37
$
Analysis of Balance Dec. 31, 2014
For the Year Ended December 31, 2014
Statement of Deferred Charges to Future Taxation - Unfunded
GENERAL CAPITAL FUND
101
Exhibit SC-4
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of Deferred Charges to Future Taxation - Funded
For the Year Ended December 31, 2014
Balance December 31, 2013
4,533,158.38
$
Decreased by:
NJ Environmental Trust Loan Paid
60,307.21
$
Serial Bonds Paid
245,600.00
305,907.21
Balance December 31, 2014
4,227,251.17
$
Exhibit SC-5
GENERAL CAPITAL FUND
Statement of Due to/from Current Fund
For the Year Ended December 31, 2014
Balance December 31, 2013 (Due from)
83,510.77
$
Increased by:
Disbursements:
Interfund Loans Advanced
70,463.80
153,974.57
Decreased by:
Increased by:
Receipts:
Interest Earned on Deposits
1,009.40
$
Interfund Loans Returned
83,510.77
84,520.17
$
Current Fund Anticipated Revenue:
Reserve for Payment of Bonds
70,463.80
154,983.97
Balance December 31, 2014 (Due to)
1,009.40
$
11600
102
11600
Exhibit SC-6
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of Improvement Authorizations
For the Year Ended December 31, 2014
2014 Authorizations
Deferred
Charges to
Capital
Future
Prior Year
Ordinance
Ordinance
Improvement
Taxation-
Paid or
Encumbrances
Number
Improvement Description
Date
Amount
Funded
Unfunded
Fund
Unfunded
Charged
Refunds
Canceled
Funded
Unfunded
02-22)
Acquisition of:
03-04)
a) Phone System
8/27/2002
25,000.00
$
4,115.86
$
4,115.86
$
03-12)
07-11
Completion of Various Capital Improvements and the
Acquisition of Various Pieces of Equipment
9/25/2007
118,000.00
35,318.02
27,088.00
$
8,230.02
08-10
Completion of Various Capital Improvements and the
Acquisition of Various Pieces of Equipment
4/22/2008
1,579,000.00
59,199.35
59,199.35
11-09
Acquisition of Generators for the Fire Hall and Public
Works Building and the Resurfacing of the
Fire Hall Parking Lot
7/05/11
294,000.00
211,945.62
167,615.00
44,330.62
11-12
Completion of Various Capital Improvements and
the Acquisition of Various Pieces of Equipment
7/05/11
195,000.00
49,339.11
$
1,406.90
14,893.34
$
62,825.55
$
11-15
Acquisition of Office Equipment and Furniture for
the Police Department and Municipal Offices and
Various Improvements to Borough Hall
10/04/11
51,500.00
11,500.00
1,000.00
10,500.00
12-04
Resurfacing of the Fire Hall Parking lot
2/07/12
200,000.00
49,885.42
49,885.42
12-16
Completion of Various Capital Improvements and
the Acquisition of Equipment
10/20/12
212,500.00
33,780.77
6,878.06
86.00
$
26,988.71
13-11
Acquisition of Police Utility Vehicles
7/2/13
70,000.00
2,380.62
2,380.62
14-05
Completion of Various Capital Improvements and
the Acquisition of Equipment
4/15/14
157,150.00
7,858.00
$
149,292.00
$
94,645.78
62,504.22
14-10
Completion of Various Capital Improvements and
the Acquisition of Equipment
6/17/14
40,000.00
2,000.00
38,000.00
2,000.00
38,000.00
322,078.85
$
135,385.92
$
9,858.00
$
187,292.00
$
298,633.74
$
14,893.34
$
86.00
$
128,375.85
$
242,584.52
$
Reserve for Encumbrances
20,508.31
$
Contracts Payable
150,615.00
Disbursed
127,510.43
298,633.74
$
Dec. 31, 2014
Dec. 31, 2013
103
Exhibit SC-7
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of Reserve for Encumbrances
For the Year Ended December 31, 2014
Balance December 31, 2013
62,503.68
$
Increased by:
Charged to Improvement Authorizations
20,508.31
83,011.99
Decreased by:
Canceled
86.00
$
Disbursed
61,203.48
61,289.48
Balance December 31, 2014
21,722.51
$
Exhibit SC-8
GENERAL CAPITAL FUND
Statement of Due from Trust Other Fund
For the Year Ended December 31, 2014
Balance December 31, 2013
5,594.89
$
Increased by:
Disbursed:
Interfund Loans Advanced
9,298.45
Balance December 31, 2014
14,893.34
$
11600
104
Exhibit SC-9
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of Capital Improvement Fund
For the Year Ended December 31, 2014
Balance December 31, 2013
51,691.50
$
Decreased by:
Appropriation to Finance Improvement Authorizations
9,858.00
Balance December 31, 2014
41,833.50
$
Exhibit SC-10
GENERAL CAPITAL FUND
Statement of Contracts Payable
For the Year Ended December 31, 2014
Balance December 31, 2013
51,216.00
$
Increased by:
Charged to Improvement Authorizations
150,615.00
201,831.00
Decreased by:
Disbursed
51,216.00
Balance December 31, 2014
150,615.00
$
A detailed list of contracts payable is on file at the office of the Chief Financial Officer.
11600
105
Exhibit SC-11
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of Reserve for Payment of Bonds and Loans
For the Year Ended December 31, 2014
Balance December 31, 2013
519,657.21
$
Decreased by:
Realized as Anticipated Revenue in Current Fund
70,463.80
Balance December 31, 2014
449,193.41
$
11600
106
11600
Exhibit SC-12
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of Bond Anticipation Notes
Date of
Ordinance
Original
Date
Maturity
Interest
Balance
Balance
Number
Improvement Description
Issue
of Issue
Date
Rate
Dec. 31, 2013
Increased
Decreased
Dec. 31, 2014
11-03
Various Road Improvements to Silver Lake Drive In and For
the Borough of Clementon
8/13/13
8/13/13
8/12/14
1.0000%
91,705.00
$
91,705.00
$
9,137.00
$
9,137.00
$
11-05
Acquisition of Sport Utility Vehicles for the Police Department
8/13/13
8/13/13
8/12/14
1.0000%
69,350.00
69,350.00
8/11/14
8/10/15
0.8499%
69,350.00
69,350.00
11-12
Completion of Various Capital Improvements and
the Acquisition of Various Pieces of Equipment
8/17/11
8/13/13
8/12/14
1.0000%
173,340.00
173,340.00
8/17/11
8/11/14
8/10/15
0.8499%
173,340.00
173340.00
12-04
Resurfacing of the Fire Hall Parking lot
8/13/13
8/13/13
8/12/14
1.0000%
190,000.00
190,000.00
8/11/14
8/10/15
0.8499%
190,000.00
190,000.00
12-16
Completion of Various Capital Improvements and
the Acquisition of Equipment
8/13/13
8/13/13
8/12/14
1.0000%
201,875.00
201,875.00
8/11/14
8/10/15
0.8499%
201,875.00
201,875.00
13-11
Acquisition of Police Utility Vehicles
8/13/13
8/13/13
8/12/14
1.0000%
66,500.00
66,500.00
8/11/14
8/10/15
0.8499%
66,500.00
66,500.00
14-10
Completion of Various Capital Improvements and
the Acquisition of Equipment
8/11/14
8/11/14
8/10/15
0.8499%
38,000.00
38,000.00
792,770.00
$
748,202.00
$
792,770.00
$
748,202.00
$
Renewals
710,202.00
$
710,202.00
$
Paid by Cash Held to Pay Notes
82,567.80
Paid by Note Cash
0.20
Issued for Cash
38,000.00
748,202.00
$
792,770.00
$
For the Year Ended December 31, 2014
107
11600
Exhibit SC-13
Paid
Date of
Original
Trust
Fund
Interest
Balance
by Budget
Balance
Purpose
Issue
Issue
Date
Loan
Loan
Total
Rate
Dec. 31, 2013
Appropriation
Dec. 31, 2014
Acquisition of Real Property and
Property Rights
11-10-05
1,195,000.00
$
2-01-15
8,360.39
$
8,360.39
$
8-01-15
15,000.00
$
35,585.56
50,585.56
4.000%
2-01-16
7,815.89
7,815.89
8-01-16
15,000.00
35,041.05
50,041.05
4.000%
2-01-17
7,271.38
7,271.38
8-01-17
15,000.00
34,496.55
49,496.55
4.250%
2-01-18
6,726.88
6,726.88
8-01-18
20,000.00
43,027.10
63,027.10
4.250%
2-01-19
5,955.50
5,955.50
8-01-19
20,000.00
42,255.72
62,255.72
4.500%
2-01-20
5,184.12
5,184.12
8-01-20
20,000.00
41,484.34
61,484.34
4.375%
2-01-21
4,367.37
4,367.37
8-01-21
20,000.00
40,667.59
60,667.59
4.375%
2-01-22
3,573.30
3,573.30
8-01-22
20,000.00
39,873.52
59,873.52
4.375%
2-01-23
2,779.23
2,779.23
8-01-23
20,000.00
39,079.45
59,079.45
4.375%
2-01-24
1,985.16
1,985.16
8-01-24
25,000.00
47,360.44
72,360.44
4.375%
2-01-25
992.58
992.58
8-01-25
25,000.00
46,368.05
71,368.05
4.375%
775,558.38
$
60,307.21
$
715,251.17
$
Maturities Outstanding Dec. 31, 2014
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of New Jersey Environmental Trust Loans Payable
For the Year Ended December 31, 2014
108
11600
Exhibit SC-14
BOROUGH OF CLEMENTON
GENERAL CAPITAL FUND
Statement of General Serial Bonds
Maturities of
Amount of
Bonds Outstanding
Paid
Date of
Original
December 31, 2014
Interest
Balance
by Budget
Balance
Issue
Issue
Issue
Date
Amount
Rate
Dec. 31, 2013
Appropriation
Dec. 31, 2014
General Improvement Bonds - Series 1999
12-01-99
1,075,000.00
$
-
-
-
100,600.00
$
100,600.00
$
General Obligation Bonds - Series 2005
2-01-05
763,000.00
2-01-15
80,000.00
$
3.70%
2-01-16
83,000.00
3.75%
233,000.00
70,000.00
163,000.00
$
General Obligation Bonds - Series 2010
10-01-10
3,524,000.00
10-01-15
175,000.00
3.00%
10-01-16
175,000.00
3.00%
10-01-17
250,000.00
3.00%
10-01-18
250,000.00
3.00%
10-01-19
300,000.00
3.00%
10-01-20
325,000.00
3.00%
10-01-21
349,000.00
3.00%
10-01-22
350,000.00
3.15%
10-01-23
375,000.00
3.25%
10-01-24
375,000.00
3.30%
10-01-25
425,000.00
4.00%
3,424,000.00
75,000.00
3,349,000.00
3,757,600.00
$
245,600.00
$
3,512,000.00
$
For the Year Ended December 31, 2014
109
11600
Exhibit SC-15
Notes Paid
Ordinance
Balance
from Note
2014
Notes
Balance
Number
Improvement Description
Dec. 31, 2013
Cash
Authorizations
Issued
Dec. 31, 2014
06-13
Reconstruction & Resurfacing of Park Boulevard, Acquisition of a Four-
Wheel Drive Vehicle and Renovations & Improvements to the Senior/
Recreation Center
765.00
$
765.00
$
11-03
Various Road Improvements to Silver Lake Drive In and For
the Borough of Clementon
0.20
$
0.20
11-12
Completion of Various Capital Improvements and
the Acquisition of Various Pieces of Equipment
0.15
0.15
14-05
Completion of Various Capital Improvements and
the Acquisition of Equipment
149,292.00
$
149,292.00
14-10
Completion of Various Capital Improvements and
the Acquisition of Equipment
38,000.00
38,000.00
$
765.15
$
0.20
$
187,292.00
$
38,000.00
$
150,057.35
$
Statement of Bonds and Notes Authorized But Not Issued
For the Year Ended December 31, 2014
GENERAL CAPITAL FUND
BOROUGH OF CLEMENTON
110
SUPPLEMENTAL EXHIBITS
WATER UTILITY FUND
Exhibit SD-1
BOROUGH OF CLEMENTON
WATER UTILITY FUND
Statement of Water Utility Cash and Investments
Per N.J.S.A. 40A: 5-5 - Treasurer
For the Year Ended December 31, 2014
Operating
Capital
Balance December 31, 2013
313,635.83
$
191,745.75
$
Increased by Receipts:
Miscellaneous Revenues
572.96
$
Water Collector
777,204.92
Bond Anticipation Note Proceeds
229,330.00
$
Capital Improvement Fund
19,000.00
Due General Capital Fund
383.34
Due Trust Other Fund
176.56
Due Water Utility Operating Fund
241.65
Due Water Utility Capital Fund
19,219.91
Contra
277,400.00
797,174.35
526,354.99
1,110,810.18
718,100.74
Decreased by Disbursements:
2014 Appropriations
698,901.99
2013 Appropriation Reserves
27,076.87
Accrued Interest on Bonds and Notes
16,256.54
Improvement Authorizations
7,839.21
Contracts Payable
61,786.06
Due Current Fund
43,624.02
Due General Capital Fund
2,766.29
Due Water Utility Operating Fund
19,219.91
Due Sewer Utility Operating Fund
2,124.13
Contra
277,400.00
790,749.84
366,245.18
Balance December 31, 2014
320,060.34
$
351,855.56
$
11600
112
11600
Exhibit SD-2
Statement of Water Utility Cash
For the Year Ended December 31, 2014
Regular
Receipts:
Interest on Delinquent Accounts
12,847.59
$
Consumer Accounts Receivable
723,132.54
Water Rental Overpayments
1,594.48
Water Rental Prepayments
39,630.31
777,204.92
Decreased by:
Payments to Treasurer
777,204.92
$
All funds are deposited directly to the Treasurer's bank account.
BOROUGH OF CLEMENTON
WATER UTILITY OPERATING FUND
Per N.J.S.A. 40A:5-5 -- Water Collector
113
11600
Exhibit SD-3
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Analysis of Water Utility Capital Cash
For the Year Ended December 31, 2014
Disbursements
Bond
Balance
Anticipation
Budget
Improvement
Balance
Dec. 31, 2013
Notes
Appropriations
Miscellaneous
Authorizations
Miscellaneous
From
To
Dec. 31, 2014
Improvement Authorizations:
09-19
Various Water Utility Improvements
5,937.06
$
5,937.06
$
11-10
Various Water Utility Improvements
58,894.34
7,839.21
$
2,745.00
$
48,310.13
Acquisition and Installation of Various Equipment for
14-10
the Water Department
229,330.00
$
12,070.00
$
241,400.00
Due Water Utility Operating Fund
219.91
19,000.00
$
241.65
$
19,219.91
$
19,000.00
(18,758.35)
Due General Capital Fund
(383.34)
383.34
Capital Improvement Fund
43,104.00
12,070.00
19,000.00
50,034.00
Contracts Payable
70,697.00
61,786.06
2,745.00
11,655.94
Reserve for Payment of Bonds
12,893.44
12,893.44
Fund Balance
383.34
383.34
Contra
277,400.00
277,400.00
191,745.75
$
229,330.00
$
19,000.00
$
278,024.99
$
7,839.21
$
358,405.97
$
33,815.00
$
33,815.00
$
351,855.56
$
Receipts
Transfers
114
Exhibit SD-4
BOROUGH OF CLEMENTON
WATER UTILITY OPERATING FUND
Schedule of Change Funds
As of December 31, 2014
Office
Amount
Water Utility Clerk
75.00
$
Exhibit SD-5
WATER UTILITY CAPITAL FUND
Statement of Due to/from Water Utility Operating Fund
For the Year Ended December 31, 2014
Balance December 31, 2013 (Due to)
219.91
$
Increased by:
Receipts:
Interest Earned on Deposits
241.65
461.56
Decreased by:
Disbursed:
Interfund Loans Returned
19,219.91
Balance December 31, 2014 (Due from)
18,758.35
$
11600
115
Exhibit SD-6
BOROUGH OF CLEMENTON
WATER UTILITY OPERATING FUND
Statement of Consumer Accounts Receivable
For the Year Ended December 31, 2014
Balance December 31, 2013
91,343.96
$
Increased by:
2014 Rents Levied (Net)
785,699.40
877,043.36
Decreased by:
Collections
723,132.54
$
Transferred to Water Utility Liens Receivable
113.00
Prepayments Applied
46,961.21
Overpayments Applied
2,572.47
772,779.22
Balance December 31, 2014
104,264.14
$
Exhibit SD-7
WATER UTILITY OPERATING FUND
Statement of Water Utility Liens Receivable
For the Year Ended December 31, 2014
Balance December 31, 2013
504.25
$
Increased by:
Transfer from Consumer Accounts Receivable
113.00
Balance December 31, 2014
617.25
$
11600
116
Exhibit SD-8
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Balance
Additions by
Balance
Description
Dec. 31, 2013
Ordinance
Dec. 31, 2014
Costs of Acquiring Land
3,531.13
$
3,531.13
$
Land
7,445.00
7,445.00
Wells and Well Field Pumping
548,853.60
548,853.60
Hydraulic Power Structures
4,899.34
4,899.34
Pumping Station Structures
6,880.25
6,880.25
Electric Power Pumping Equipment
10,469.50
10,469.50
Gas Power Pumping Equipment
6,903.22
6,903.22
Storage Reservoir
41,863.79
41,863.79
Distribution Mains
305,567.66
305,567.66
Service
91,534.27
91,534.27
Meters
118,561.17
118,561.17
Fire Hydrants
7,791.88
7,791.88
General Structures
115,587.91
115,587.91
General Equipment
62,057.49
62,057.49
Booster Pumping Station
10,293.74
10,293.74
Automobile Equipment
12,234.88
12,234.88
Office Equipment
16,141.08
16,141.08
Backhoe Diagonal Loader
21,216.00
21,216.00
Trucks
38,978.00
38,978.00
Borough Garage Roof
16,746.87
16,746.87
Purchase of Computer
28,000.00
28,000.00
Emergency Generator for Well No. 9
264,000.00
264,000.00
Installation of a Water Main
56,497.60
56,497.60
Installation of Hydrant Valves, Roof of Sitely Ave. Pump Station; Pump Test
on Well No. 10; and Replacement of Fire Hydrant and Water Meter
16,000.00
16,000.00
Installation of Insertion Valves, a Chlorine System and Renovation of Water
Utility Building
50,000.00
50,000.00
Refurbishing of Well No. 9 and Purchase of Various Equipment
85,900.00
85,900.00
Acquisition of Various Equipment
43,000.00
43,000.00
Various Improvements to Water Utilities
34,000.00
34,000.00
Water Main Replacement of Chews Landing Road
125,000.00
125,000.00
Reconstruction of Well No. 10
89,925.00
89,925.00
Redevelopment of Well No. 10
14,075.00
14,075.00
Water Pipe Installation for West Atlantic Avenue
60,000.00
60,000.00
Replacement of Electrical System for Well No. 11
17,000.00
17,000.00
Replacement of Water Mains, Valves and Hydrants
532,282.45
532,282.45
Replacement of Motor and Generator for Well No. 9
59,465.09
59,465.09
Materials and Installation of New Water Mains
61,933.61
61,933.61
Purchase of a Backhoe, Replacement of Roofs for Well Nos. 9 & 10 Well House,
and Purchase of a Trench Box
68,377.68
68,377.68
Refurbish Well No. 10, Improvements to Garage, and Purchase of a Dump
Truck with Plow
76,241.59
76,241.59
Purchase of a 5-Yard Dump with Plow Package
89,232.71
89,232.71
Refurbish of Sitely Avenue Water Tower
201,243.02
201,243.02
Replacement of Water Mains Under Trenton Avenue and Brighton Avenue
178,927.24
178,927.24
Refurbish of Well No. 9
74,313.37
74,313.37
Repair Truck
52,714.95
52,714.95
(Continued)
11600
Statement of Fixed Capital
For the Year Ended December 31, 2014
117
Exhibit SD-8
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Balance
Additions by
Balance
Description
Dec. 31, 2013
Ordinance
Dec. 31, 2014
11600
Statement of Fixed Capital
For the Year Ended December 31, 2014
Removal of Underground Storage Tank Well #10
14,995.24
$
14,995.24
$
Water Vehicle - F550
28,291.00
$
28,291.00
Water Main Piping and Hydrants
51,000.56
51,000.56
Engineering Studies
39,173.00
39,173.00
Water System Improvements
14,636.18
14,636.18
Air Compressor
1,550.00
1,550.00
Garage Lift
4,875.00
4,875.00
Renovations to the Water Garage
29,580.82
29,580.82
Water Meters, Acessories and Hydrants
17,000.00
17,000.00
Lincoln Ave Water Main Replacement
45,000.00
45,000.00
3,740,681.33
$
231,106.56
$
3,971,787.89
$
118
Exhibit SD-9
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Statement of Fixed Capital Authorized and Uncompleted
For the Year Ended December 31, 2014
2014 Authorizations
Deferred
Capital
Charges
Costs to
Ordinance
Balance
Improvement
to Future
Fixed
Balance
Number
Improvement Description
Date
Amount
Dec. 31, 2013
Fund
Revenue
Capital
Dec. 31, 2014
01-05
Purchase of 4X4 Truck and Capital Equipment and
California Avenue Water Mains
6/19/01
85,000.00
$
79,291.56
$
79,291.56
$
03-08
Various Improvements & Acquisition;
a) Engineering Studies and Assessment of Current
Water System and Proposed Improvements
7/08/03
62,500.00
60,994.18
60,994.18
b) Renovations and Improvements to Water Garage,
including the Acquisition of a Mechanics Lift and
Roof Repairs
7/08/03
46,250.00
28,820.82
28,820.82
05-33
Various Capital Improvements and Acquisition of Capital
Equipment for the Water Department
9/27/05
62,000.00
62,000.00
62,000.00
09-19
Various Water Utility Improvements
8/11/09
34,810.00
34,810.00
34,810.00
$
11-10
Various Water Utility Improvements
7/05/11
292,000.00
292,000.00
292,000.00
14-10
Acquisition and Installation of Various Equipment for
the Water Department
6/17/14
241,400.00
12,070.00
$
229,330.00
$
241,400.00
557,916.56
$
12,070.00
$
229,330.00
$
231,106.56
$
568,210.00
$
11600
119
Exhibit SD-10
Balance
Encumbered
Reserved
Disbursed
Lapsed
Operating:
Salaries and Wages
18,709.21
$
1,061.04
$
17,648.17
$
Other Expenses
24,112.94
$
17,710.19
26,015.83
15,807.30
Statutory Expenditures:
Contribution to:
Social Security System (O.A.S.I.)
3,188.01
3,188.01
24,112.94
$
39,607.41
$
27,076.87
$
36,643.48
$
Balance December 31, 2013
11600
BOROUGH OF CLEMENTON
WATER UTILITY OPERATING FUND
Statement of Appropriation Reserves
For the Year Ended December 31, 2014
120
Exhibit SD-11
Balance December 31, 2013
2,572.47
$
Increased by:
Overpayments in 2014:
Collected
1,594.48
4,166.95
Decreased by:
Applied to Consumer Accounts Receivable
2,572.47
Balance December 31, 2014
1,594.48
$
Exhibit SD-12
Balance December 31, 2013
46,961.21
$
Increased by:
Collections--2015 Rents
39,630.31
86,591.52
Decreased by:
Applied to Consumer Accounts Receivable
46,961.21
Balance December 31, 2014
39,630.31
$
For the Year Ended December 31, 2014
WATER UTILITY OPERATING FUND
For the Year Ended December 31, 2014
11600
BOROUGH OF CLEMENTON
Statement of Water Rental Overpayments
WATER UTILITY OPERATING FUND
Statement of Water Rental Prepayments
121
Exhibit SD-13
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Statement of Improvement Authorizations
For the Year Ended December 31, 2014
2014 Authorizations
Balance
Capital
Charges
Balance
Ordinance
Improvement
to Future
Paid or
Number
Improvement Description
Date
Amount
Funded
Unfunded
Fund
Revenue
Charged
Funded
Unfunded
09-19
Various Water Utility Improvements
8/11/09
38,410.00
$
5,937.06
$
69.00
$
5,937.06
$
69.00
$
11-10
Various Water Utility Improvements
7/05/11
292,000.00
58,894.34
10,584.21
$
48,310.13
14-10
Acquisition and Installation of Various Equipment for
the Water Department
6/17/14
241,400.00
12,070.00
$
229,330.00
$
12,070.00
229,330.00
5,937.06
$
58,963.34
$
12,070.00
$
229,330.00
$
10,584.21
$
18,007.06
$
277,709.13
$
Contracts Payable
2,745.00
$
Disbursed
7,839.21
10,584.21
$
11600
Dec. 31, 2013
Dec. 31, 2014
122
Exhibit SD-14
BOROUGH OF CLEMENTON
WATER UTILITY OPERATING FUND
Statement of Due to/from Current Fund
For the Year Ended December 31, 2014
3,621.61
$
Increased by:
Current Fund Anticipated Revenue:
Fund Balance
40,000.00
43,621.61
Decreased by:
Disbursements:
Interfund Loans Returned
43,624.02
2.41
$
Exhibit SD-15
WATER UTILITY CAPITAL FUND
Statement of Contracts Payable
For the Year Ended December 31, 2014
Balance December 31, 2013
70,697.00
$
Increased by:
Charged to Improvement Authorizations
2,745.00
73,442.00
Decreased by:
Disbursed
61,786.06
Balance December 31, 2014
11,655.94
$
A detailed list of contracts payable is on file at the office of the Chief Financial Officer.
11600
Balance December 31, 2013 (Due to)
Balance December 31, 2014 (Due from)
123
Exhibit SD-16
BOROUGH OF CLEMENTON
WATER UTILITY OPERATING FUND
For the Year Ended December 31, 2014
Balance December 31, 2013
6,061.56
$
Increased by:
Charged to:
Budget Appropriation:
Interest on Bonds
12,597.58
$
Interest on Notes
3,389.57
15,987.15
22,048.71
Decreased by:
Disbursements
16,256.54
Balance December 31, 2014
5,792.17
$
Analysis of Accrued Interest December 31, 2014
Principal
Outstanding
Interest
Number of
Dec. 31, 2014
Rate
From
To
Days
Amount
Serial Bonds:
229,500.00
$
3.7400%
8/01/14
12/31/14
150
3,576.38
$
70,000.00
3.0200%
10/01/14
12/31/14
90
528.50
Bond Anticipation Notes:
506,730.00
$
0.8499%
8/11/14
12/31/14
143
1,687.28
5,792.17
$
11600
Statement of Interest on Bonds and Notes and Analysis of Balance
124
Exhibit SD-17
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Statement of Reserve for Amortization
For the Year Ended December 31, 2014
Balance December 31, 2013
3,608,612.89
$
Increased by:
Transferred from Deferred Reserve for Amortization
12,275.00
$
Serial Bonds Paid by Operating Budget
84,400.00
96,675.00
Balance December 31, 2014
3,705,287.89
$
Exhibit SD-18
WATER UTILITY CAPITAL FUND
Statement of Capital Improvement Fund
For the Year Ended December 31, 2014
Balance December 31, 2013
43,104.00
$
Increased by:
Receipts:
2014 Budget Appropriation
19,000.00
62,104.00
Decreased by:
Appropriated to Finance Improvement Authorization
12,070.00
Balance December 31, 2014
50,034.00
$
11600
125
Exhibit SD-19
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Statement of Deferred Reserve for Amortization
For the Year Ended December 31, 2014
To Reserve for
Fixed
Amortization
Ordinance
Ordinance
Balance
Capital
Fixed
Balance
Number
Improvement Description
Date
Amount
Dec. 31, 2013
Authorized
Capital
Dec. 31, 2014
01-05
Purchase of 4X4 Truck and Capital Equipment and
California Avenue Water Mains
6/19/01
85,000.00
$
11,275.00
$
11,275.00
$
05-33
Various Capital Improvements and Acquisition of Capital
Equipment for the Water Department
9/27/05
62,000.00
1,000.00
1,000.00
09-19
Various Water Utility Improvements
8/11/09
34,810.00
1,741.00
1,741.00
$
11-10
Various Water Utility Improvements
7/05/11
14,600.00
14,600.00
14,600.00
14-10
Acquisition and Installation of Various Equipment for
the Water Department
6/17/14
12,070.00
12,070.00
$
12,070.00
28,616.00
$
12,070.00
$
11,275.00
$
28,411.00
$
11600
126
11600
Exhibit SD-20
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
Statement of Bond Anticipation Notes
For the Year Ended December 31, 2014
Date of Issue
Ordinance
of Original
Date of
Date of
Interest
Balance
Balance
Improvement Description
Number
Notes
Issue
Maturity
Rate
Dec. 31, 2013
Increased
Decreased
Dec. 31, 2014
Various Water Utility Improvements
11-10
8/17/11
8/13/13
8/12/14
1.0000%
277,400.00
$
277,400.00
$
8/17/11
8/11/14
8/10/15
0.8499%
277,400.00
$
277,400.00
$
Acquisition and Installation of Various Equipment for
the Water Department
14-10
8/11/14
8/11/14
8/10/15
0.8499%
229,330.00
229,330.00
277,400.00
$
506,730.00
$
277,400.00
$
506,730.00
$
Issued for Cash
229,330.00
$
Renewals
277,400.00
277,400.00
$
506,730.00
$
277,400.00
$
127
11600
Exhibit SD-21
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
For the Year Ended December 31, 2014
Maturities of Bonds
Outstanding
Paid
Date of
Original
Dec. 31, 2014
Interest
Balance
By Budget
Balance
Issue
Issue
Issue
Date
Amount
Rate
Dec. 31, 2013
Appropriation
Dec. 31, 2014
General Obligation Bonds - Series 1999
12-01-99
357,000.00
$
-
-
-
33,400.00
$
33,400.00
$
General Obligation Bonds - Series 2005
2-01-05
570,000.00
2-01-15
54,500.00
$
3.70%
2-01-16
55,000.00
3.75%
2-01-17
60,000.00
3.75%
2-01-18
60,000.00
3.80%
274,500.00
45,000.00
229,500.00
$
General Obligation Bonds - Series 2010
10-01-10
94,000.00
10-01-15
6,000.00
3.00%
10-01-16
6,000.00
3.00%
10-01-17
9,500.00
3.00%
10-01-18
9,500.00
3.00%
10-01-19
9,500.00
3.00%
10-01-20
9,500.00
3.00%
10-01-21
10,000.00
3.00%
10-01-22
10,000.00
3.15%
76,000.00
6,000.00
70,000.00
383,900.00
$
84,400.00
$
299,500.00
$
Statement of Water Utility Serial Bonds
128
11600
Exhibit SD-22
BOROUGH OF CLEMENTON
WATER UTILITY CAPITAL FUND
For the Year Ended December 31, 2014
Ordinance
Ordinance
Balance
2014
Notes
Balance
Number
Improvement Description
Date
Dec. 31, 2013
Authorizations
Issued
Dec. 31, 2014
09-19
Various Water Utility Improvements
8/11/09
69.00
$
69.00
$
14-10
Acquisition and Installation of Various Equipment for
the Water Department
6/17/14
229,330.00
$
229,330.00
$
69.00
$
229,330.00
$
229,330.00
$
69.00
$
Schedule of Bonds and Notes Authorized But Not Issued
129
SUPPLEMENTAL EXHIBITS
SEWER UTILITY FUND
Exhibit SE-1
BOROUGH OF CLEMENTON
SEWER UTILITY FUND
Statement of Sewer Utility Cash and Investments
Per N.J.S.A. 40A: 5-5 - Treasurer
For the Year Ended December 31, 2014
Operating
Capital
Balance December 31, 2013
398,364.40
$
225,206.93
$
Increased by Receipts:
Miscellaneous Revenues
397.04
$
Sewer Collector
608,960.64
Bond Anticipation Note Proceeds
344,850.00
$
Due Current Fund
4,664.69
Due Sewer Utility Capital Fund
283.95
Due Water Utility Operating Fund
2,124.13
Due Sewer Utility Operating Fund
355.25
Contra
529,630.00
616,430.45
874,835.25
1,014,794.85
1,100,042.18
Decreased by Disbursements:
2014 Appropriations
515,152.98
2013 Appropriation Reserves
11,162.61
Accrued Interest on Bonds and Notes
10,306.59
Improvement Authorizations
1,911.15
Due Current Fund
80,000.00
Due Trust Other Funds
258.01
Due General Capital Fund
5,314.69
2,583.51
Due Sewer Utility Operating Fund
283.95
Contra
529,630.00
622,194.88
534,408.61
Balance December 31, 2014
392,599.97
$
565,633.57
$
11600
131
11600
Exhibit SE-2
Statement of Sewer Utility Cash
For the Year Ended December 31, 2014
Regular
Receipts:
Interest on Delinquent Accounts
4,004.26
$
Consumer Accounts Receivable
536,340.41
Sewer Rental Overpayments
972.96
Sewer Rental Prepayments
67,643.01
608,960.64
Decreased by:
Payments to Treasurer
608,960.64
$
All funds are deposited directly to the Treasurer's bank account.
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
Per N.J.S.A. 40A:5-5 -- Sewer Collector
132
11600
Exhibit SE-3
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
Analysis of Sewer Utility Capital Cash and Investments
For the Year Ended December 31, 2014
Receipts
Receipts
Disbursements
Bond
Bond
Balance
Anticipation
Improvement
Anticipation
Balance
Dec. 31, 2013
Notes
Miscellaneous
Authorizations
Notes
Miscellaneous
From
To
Dec. 31, 2014
Improvement Authorizations:
05-34
Acquisition of a Site Emergency Generator
(290.00)
$
(290.00)
$
11-11
Various Sewer Utility Improvements and the
Acquisition of Equipment
175,618.11
1,825.55
$
67,877.30
$
105,915.26
14-10
Acquisition and Installation of Various
Equipment for the Sewer Department
344,850.00
$
85.60
18,150.00
$
362,914.40
Due Sewer Utility Operating Fund
283.95
355.25
$
283.95
$
355.25
Due General Capital
2,583.51
2,583.51
Contra
529,630.00
529,630.00
$
Contracts Payable
137.30
137.30
Reserve for Encumbrances
67,740.00
67,740.00
Capital Improvement Fund
35,400.00
18,150.00
17,250.00
Reserve for Payment of Bonds
10,599.21
10,599.21
Fund Balance
1,012.15
1,012.15
225,206.93
$
874,480.00
$
355.25
$
1,911.15
$
529,630.00
$
2,867.46
$
86,027.30
$
86,027.30
$
565,633.57
$
Transfers
133
Exhibit SE-4
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
Schedule of Change Funds
As of December 31, 2014
Office
Amount
Sewer Utility Clerk
75.00
$
Exhibit SE-5
SEWER UTILITY OPERATING FUND
Statement of Due to/from Current Fund
For the Year Ended December 31, 2014
Balance December 31, 2013
4,664.69
$
Increased by:
Disbursements:
Interfund Loans Advanced
80,000.00
84,664.69
Decreased by:
Current Fund Anticipated Revenue:
Fund Balance
80,000.00
$
Interfund Loans Returned
4,664.69
84,664.69
$
11600
134
Exhibit SE-6
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
Statement of Consumer Accounts Receivable
For the Year Ended December 31, 2014
Balance December 31, 2013
54,803.40
$
Increased by:
2014 Sewer Service Charges (Net)
616,594.11
671,397.51
Decreased by:
Collections
536,340.41
$
Transferred to Sewer Utility Liens Receivable
110.00
Prepayments Applied
74,172.45
Overpayments Applied
1,347.93
611,970.79
Balance December 31, 2014
59,426.72
$
11600
135
Exhibit SE-7
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
Statement of Sewer Utility Liens Receivable
For the Year Ended December 31, 2014
Balance December 31, 2013
366.49
$
Increased by:
Transfer from Consumer Accounts Receivable
110.00
Balance December 31, 2014
476.49
$
Exhibit SE-8
SEWER UTILITY OPERATING FUND
Statement of Due from Water Utility Capital Fund
For the Year Ended December 31, 2014
Balance December 31, 2013
2,124.13
$
Decreased by:
Receipts:
Interfund Loans Received
2,124.13
$
11600
136
Exhibit SE-9
BOROUGH OF CLEMENTON
Balance December 31, 2013
283.95
$
Increased by:
Receipts:
Interest Earned on Deposits
355.25
639.20
Decreased by:
Interfund Loan Returned
283.95
Balance December 31, 2014
355.25
$
Exhibit SE-10
Balance
Encumbered
Reserved
Disbursed
Lapsed
Operating:
Salaries and Wages
29,423.82
$
1,061.05
$
28,362.77
$
Other Expenses
13,403.52
$
3,966.27
10,101.56
7,268.23
Statutory Expenditures:
Contribution to:
Social Security System (O.A.S.I.)
4,405.87
4,405.87
13,403.52
$
37,795.96
$
11,162.61
$
40,036.87
$
11600
SEWER UTILITY CAPITAL FUND
Statement of Due to Sewer Operating Fund
For the Year Ended December 31, 2014
SEWER UTILITY OPERATING FUND
Statement of Appropriation Reserves
For the Year Ended December 31, 2014
Balance December 31, 2013
137
Exhibit SE-11
Balance
Additions by
Balance
Description
Dec. 31, 2013
Ordinance
Dec. 31, 2014
Property, Equipment and Other Facilities Acquired and Constructed Under
Clementon Sewerage Authority Bond Resolution Dated March 1, 1961
1,390,712.28
$
1,390,712.28
$
Property, Equipment and Other Facilities Acquired and Constructed Under
Clementon Sewerage Authority Bond Resolution Dated September 1, 1985
825,000.00
825,000.00
Garfield Avenue Main Replacement
180,763.03
180,763.03
Pump Station Rehabilitations
307,639.59
307,639.59
Grand Expansion
136,734.64
136,734.64
Yard Grading and Paving Project
22,000.00
22,000.00
Wallace Avenue Main Replacement
95,600.82
95,600.82
Park Avenue and Erial Road Pump Station
Upgrades and Sanitary Sewer Replacements
48,383.00
48,383.00
Refurbish Park Avenue Pump Station
218,147.26
218,147.26
Repair Sewer Mains
12,872.08
12,872.08
Emergency Bypass Pump
31,505.00
31,505.00
Site Emergency Generator
31,723.09
31,723.09
Evanson Avenue Pump Station
264,792.41
$
264,792.41
Renovations to Sewer Garage
30,578.80
30,578.80
Sewer Plow Truck
37,779.58
37,779.58
Four Wheel Drive Vehicle
18,500.00
18,500.00
3,301,080.79
$
351,650.79
$
3,652,731.58
$
11600
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
Statement of Fixed Capital
As of December 31, 2014
138
Exhibit SE-12
SEWER UTILITY CAPITAL FUND
Statement of Fixed Capital Authorized and Uncompleted
For the Year Ended December 31, 2014
2014 Authorizations
Deferred
Capital
Charges
Ordinance
Balance
Improvement
to Future
Costs to
Balance
Number
Improvement Description
Date
Amount
Dec. 31, 2013
Fund
Revenue
Fixed Capital
Dec. 31, 2014
99-07
Replacement of Evanson Avenue
Pumping Station
8/24/99
275,000.00
$
264,792.41
$
264,792.41
$
03-09
Acquisition & Improvements:
a) Renovations and Improvements to
Sewer Garage
31,250.00
30,578.80
30,578.80
b) Acquisition of a Sewer Plow Truck
7/08/03
43,750.00
37,779.58
37,779.58
06-14
Acquisition of a Four-Wheel Drive Vehicle
7/25/06
18,500.00
18,500.00
18,500.00
11-11
Various Sewer Utility Improvements and the Acquisition of
Equipment
7/05/11
561,000.00
561,000.00
561,000.00
$
14-10
Acquisition and Installation of Various Equipment for the
Sewer Department
6/17/14
363,000.00
18,150.00
$
344,850.00
$
363,000.00
912,650.79
$
18,150.00
$
344,850.00
$
351,650.79
$
924,000.00
$
11600
BOROUGH OF CLEMENTON
139
Exhibit SE-13
Balance December 31, 2013
1,347.93
$
Increased by:
Overpayments in 2014
972.96
2,320.89
Decreased by:
Applied to Consumer Accounts Receivable
1,347.93
Balance December 31, 2014
972.96
$
Exhibit SE-14
Balance December 31, 2013
74,172.45
$
Increased by:
Collections--2015 Rents
67,643.01
141,815.46
Decreased by:
Applied to Consumer Accounts Receivable
74,172.45
Balance December 31, 2014
67,643.01
$
Statement of Sewer Rental Prepayments
For the Year Ended December 31, 2014
SEWER UTILITY OPERATING FUND
For the Year Ended December 31, 2014
11600
BOROUGH OF CLEMENTON
Statement of Sewer Rental Overpayments
SEWER UTILITY OPERATING FUND
140
Exhibit SE-15
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
Deferred
Capital
Charges
Ordinance
Improvement
to Future
Number
Improvement Description
Date
Amount
Funded
Unfunded
Fund
Revenue
Disbursed
Funded
Unfunded
11-11
Various Sewer Utility Improvements and
the Acquisition of Equipment
7/05/11
561,000.00
$
175,661.20
$
69,702.85
$
105,958.35
$
14-10
Acquisition and Installation of Various
Equipment for the Sewer Department
6/17/14
363,000.00
18,150.00
$
344,850.00
$
85.60
18,064.40
$
344,850.00
-
$
175,661.20
$
18,150.00
$
344,850.00
$
69,788.45
$
18,064.40
$
450,808.35
$
Reserve for Encumbrances
137.30
$
Contracts Payable
67,740.00
Disbursed
1,911.15
69,788.45
$
Dec. 31, 2013
Dec. 31, 2014
11600
Statement of Improvement Authorizations
For the Year Ended December 31, 2014
Balance
Balance
141
Exhibit SE-16
BOROUGH OF CLEMENTON
SEWER UTILITY OPERATING FUND
For the Year Ended December 31, 2014
Balance December 31, 2013
3,224.30
$
Increased by:
Charged to:
Budget Appropriation:
Interest on Bonds
4,701.35
$
Interest on Notes
6,098.93
10,800.28
14,024.58
Decreased by:
Disbursements
10,306.59
Balance December 31, 2014
3,717.99
$
Analysis of Accrued Interest December 31, 2014
Principal
Outstanding
Interest
Number of
Dec. 31, 2014
Rate
From
To
Days
Amount
Serial Bonds:
34,500.00
$
3.7300%
8/01/14
12/31/14
150
536.19
$
36,000.00
3.0000%
10/01/14
12/31/14
90
270.00
Bond Anticipation Notes:
874,480.00
$
0.8499%
8/11/14
12/31/14
143
2,911.80
3,717.99
$
11600
Statement of Interest on Bonds and Notes and Analysis of Balance
142
Exhibit SE-17
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
Statement of Deferred Reserve for Amortization
For the Year Ended December 31, 2014
To Reserve for
Fixed
Amortization
Ordinance
Ordinance
Balance
Capital
Fixed
Balance
Number
Improvement Description
Date
Amount
Dec. 31, 2013
Authorized
Capital
Dec. 31, 2014
99-07
Replacement of Evanson Avenue Pumping Station
8/24/99
38,202.00
$
38,202.00
$
38,202.00
$
05-34
Acquisition of a Site Emergency Generator
9/27/05
35,000.00
1,210.00
1,210.00
11-11
Various Sewer Utility Improvements and
the Acquisition of Equipment
7/05/11
28,050.00
28,050.00
28,050.00
$
14-10
Acquisition and Installation of Various Equipment for the
Sewer Department
6/17/14
18,150.00
18,150.00
$
18,150.00
67,462.00
$
18,150.00
$
39,412.00
$
46,200.00
$
11600
143
Exhibit SE-18
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
Statement of Reserve for Amortization
For the Year Ended December 31, 2014
Balance December 31, 2013
3,485,806.49
$
Increased by:
Transferred from Deferred Reserve for Amortization
39,412.00
$
Serial Bonds Paid by Operating Budget
60,000.00
99,412.00
Balance December 31, 2014
3,585,218.49
$
Exhibit SE-19
SEWER UTILITY CAPITAL FUND
Statement of Contracts Payable
For the Year Ended December 31, 2014
Charged to Improvement Authorizations
67,740.00
$
Balance December 31, 2014
67,740.00
$
A detailed list of contracts payable is on file at the office of the Chief Financial Officer.
Exhibit SE-20
SEWER UTILITY CAPITAL FUND
Statement of Capital Improvement Fund
For the Year Ended December 31, 2014
Balance December 31, 2013
35,400.00
$
Decreased by:
Appropriated to Finance Improvement Authorization
18,150.00
Balance December 31, 2014
17,250.00
$
11600
144
11600
Exhibit SE-21
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
For the Year Ended December 31, 2014
Maturities of Bonds
Outstanding
Paid
Date of
Original
Dec. 31, 2014
Interest
Balance
By Budget
Balance
Issue
Issue
Issue
Date
Amount
Rate
Dec. 31, 2013
Appropriation
Dec. 31, 2014
General Obligation Bonds - Series 1999
12-01-99
488,000.00
$
-
-
-
46,000.00
$
46,000.00
$
General Obligation Bonds - Series 2005
2-01-05
106,000.00
2-01-15
10,500.00
$
3.70%
2-01-16
12,000.00
3.75%
2-01-17
12,000.00
3.75%
44,500.00
10,000.00
34,500.00
$
General Obligation Bonds - Series 2010
10-01-10
52,000.00
10-01-15
4,000.00
3.00%
10-01-16
4,000.00
3.00%
10-01-17
5,500.00
3.00%
10-01-18
5,500.00
3.00%
10-01-19
5,500.00
3.00%
10-01-20
5,500.00
3.00%
10-01-21
6,000.00
3.00%
40,000.00
4,000.00
36,000.00
130,500.00
$
60,000.00
$
70,500.00
$
Statement of Sewer Utility Serial Bonds
145
11600
Exhibit SE-22
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
Statement of Bond Anticipation Notes
For the Year Ended December 31, 2014
Date of Issue
Ordinance
of Original
Date of
Date of
Interest
Balance
Balance
Improvement Description
Number
Notes
Issue
Maturity
Rate
Dec. 31, 2013
Increased
Decreased
Dec. 31, 2014
Various Sewer Utility Improvements and
the Acquisition of Equipment
11-11
8/17/11
8/13/13
8/12/14
1.0000%
529,630.00
$
529,630.00
$
8/17/11
8/13/13
8/12/14
1.0000%
529,630.00
$
529,630.00
$
Acquisition and Installation of Various
Equipment for the Sewer Department
14-10
8/11/14
8/11/14
8/10/15
0.8499%
344,850.00
344,850.00
529,630.00
$
874,480.00
$
529,630.00
$
874,480.00
$
Renewals
529,630.00
$
529,630.00
$
Issued for Cash
344,850.00
874,480.00
$
529,630.00
$
146
11600
Exhibit SE-23
Ordinance
Balance
2014
Notes
Balance
Number
Improvement Description
Dec. 31, 2013
Authorizations
Issued
Dec. 31, 2014
05-34
Acquisition of a Site Emergency Generator
290.00
$
290.00
$
11-11
Various Sewer Utility Improvements and
the Acquisition of Equipment
43.09
43.09
14-10
Acquisition and Installation of Various
Equipment for the Sewer Department
344,850.00
$
344,850.00
$
333.09
$
344,850.00
$
344,850.00
$
333.09
$
BOROUGH OF CLEMENTON
SEWER UTILITY CAPITAL FUND
Statement of Bonds and Notes Authorized But Not Issued
For the Year Ended December 31, 2014
147
BOROUGH OF CLEMENTON
PART 2
SCHEDULE OF FINDINGS AND RECOMMENDATIONS
FOR THE YEAR ENDED DECEMBER 31, 2014
11600
BOROUGH OF CLEMENTON
Schedule of Findings and Recommendations
For the Year Ended December 31, 2014
Schedule of Financial Statement Findings
This section identifies the significant deficiencies, material weaknesses, and instances of noncompliance related
to the financial statements that are required to be reported in accordance with Government Auditing Standards
and with audit requirements as prescribed by the Division of Local Government Services, Department of
Community Affairs, State of New Jersey.
Finding No. 2014-001
Criteria or Specific Requirement
Subsidiary ledgers should be maintained timely and accurately to support the balances of the general ledger.
Condition
Subsidiary ledgers in the Trust Other Funds were not in agreement with the general ledger.
Context
The analysis of the payroll and police outside services accounts were not in agreement with the balances
reported on the general ledger.
Effect
The Borough does not have an accurate analysis of amounts held in trust for payroll deductions and deposits for
police outside services.
Cause
The subsidiary ledgers were not reconciled to the general ledger.
Recommendation
That all subsidiary ledgers in the Trust Other Funds be maintained in a timely manner and accurately reflect the
balances in the general ledger.
View of Responsible Officials and Planned Corrective Action
The responsible officials agree with the finding and will address the matter as part of their corrective action plan.
149
11600
BOROUGH OF CLEMENTON
Schedule of Findings and Recommendations
For the Year Ended December 31, 2014
Schedule of Financial Statement Findings (Cont'd)
Finding No. 2014-002
Criteria or Specific Requirement
N.J.S.A. 40A:2-8.1.a.(3)(a) states that no bond anticipation notes shall be renewed beyond the third anniversary
date of the original notes unless an amount of such notes, at least equal to the first legally payable installment of
the bonds in anticipation of which those notes are issued, is paid and retired on or before each subsequent
anniversary date beyond which such notes are renewed from funds other than the proceeds of obligations.
Debt service payments should be paid in accordance with the scheduled maturity date.
Condition
The first legally payable installment on the Borough’s bond anticipation note was not paid as required by the third
anniversary date.
The Borough’s special emergency note was not paid by the scheduled maturity date.
Context
The first legally payable installment on the Borough’s bond anticipation note was not paid as required by the third
anniversary date.
The Borough’s special emergency note was not paid by the scheduled maturity date of December 9, 2014, but
was paid on January 7, 2015.
Effect
Non-compliance with the requirement to make the first legally payable installment on the Borough’s bond
anticipation notes by the third anniversary date.
The Borough accrued and paid additional interest on the special emergency note payment.
Cause
The Borough simply failed to make the first legally payable installment on the Borough’s bond anticipation notes.
The Borough simply failed to make the scheduled special emergency note payment in a timely manner.
Recommendation
That all required debt payments be made timely and accurately.
View of Responsible Officials and Planned Corrective Action
The responsible officials agree with the finding and will address the matter as part of their corrective action plan.
150
11600
BOROUGH OF CLEMENTON
Schedule of Findings and Recommendations
For the Year Ended December 31, 2014
Schedule of Financial Statement Findings (Cont'd)
Finding No. 2014-003
Criteria or Specific Requirement
N.J.A.C. 5:30-17.6 prescribes the required contract terms and conditions to be included for all contracts between
a local unit and a disbursing organization.
Condition
The agreement with the third party payroll disbursing organization does not appear to include all of the terms and
conditions required by the New Jersey Administrative Code.
Context
The Borough entered into an agreement with a third-party payroll service provider to provide services and make
disbursements on behalf of the Borough. However, the agreement does not include certain required terms and
conditions.
Effect
The Borough did not comply with N.J.A.C. 5:30-17.6. Furthermore, omission of certain required terms and
conditions in the agreement could place the Borough at risk for any losses incurred as a result of the actions or
inactions of the disbursing organization.
Cause
Unknown.
Recommendation
That the Borough comply with N.J.A.C. 5:30-17.6 regarding the use of a third party disbursement
service/disbursing organization.
View of Responsible Officials and Planned Corrective Action
The responsible officials agree with the finding and will address the matter as part of their corrective action plan.
151
11600
BOROUGH OF CLEMENTON
Schedule of Findings and Recommendations
For the Year Ended December 31, 2014
Schedule of Financial Statement Findings (Cont'd)
Finding No. 2014-004
Criteria or Specific Requirement
Payroll deductions should be withheld from employees’ wages in accordance with State regulations and be
properly reported to the applicable agency.
Condition
Several instances were noted where payroll deductions were not withheld in accordance with State regulations
and where payroll deductions were not properly reported to the State of New Jersey Division of Pensions.
Context
Our testing of payroll transactions revealed the following:
Improper amounts of PERS contributory insurance deductions were withheld in the first and fourth
quarters.
Deductions for a PFRS loan repayment were withheld from one employee in an amount in excess of what
was remitted to the Division of Pensions.
For all employees tested, an improper amount was withheld for health benefit premium payroll
deductions.
For seven employees tested, an improper amount of pensionable wages and deductions were reported to
the State of New Jersey Division of Pensions.
Effect
Payroll deductions were not withheld in accordance with State regulations and were not properly reported to
applicable agency.
Cause
Improper amounts of payroll deductions were withheld from various individuals and were improperly reported to
the applicable agency.
Recommendation
That payroll deductions from employees’ wages be withheld in accordance with State regulations and be properly
reported to the applicable agency.
View of Responsible Officials and Planned Corrective Action
The responsible officials agree with the finding and will address the matter as part of their corrective action plan.
152
11600
BOROUGH OF CLEMENTON
Summary Schedule of Prior Year Audit Findings
And Recommendations as Prepared by Management
This section identifies the status of prior year findings related to the financial statements that are required to be
reported in accordance with Government Auditing Standards.
FINANCIAL STATEMENT FINDINGS
Finding No. 2013-001
Condition
Subsidiary ledgers in the Trust Other Funds were not in agreement with the general ledger.
Current Status
This condition remains unresolved as reported in Finding No. 2014-001.
Planned Corrective Action
The Chief Financial Officer will maintain the subsidiary ledgers on a monthly basis.
Finding No. 2013-002
Condition
Cash reconciliations for certain Borough bank accounts were not performed accurately on a monthly basis.
Current Status
This condition has been resolved.
Finding No. 2013-003
Condition
The Borough expended funds in excess of the amount appropriated for one Current Fund budget line item.
Current Status
This condition has been resolved.
Finding No. 2013-004
Condition
Several instances were noted where payroll deductions were not withheld in accordance with State regulations.
Current Status
This condition remains unresolved as reported in Finding No. 2014-004.
Planned Corrective Action
The Chief Financial Officer will review payroll deduction withholdings and disbursements on a monthly basis and
remediate any discrepancies.
153
11600
BOROUGH OF CLEMENTON
Summary Schedule of Prior Year Audit Findings
And Recommendations as Prepared by Management (Cont’d)
FINANCIAL STATEMENT FINDINGS (CONT’D)
Finding No. 2013-005
Condition
Several receipts were not deposited within 48 hours of receipt.
Current Status
This condition has been resolved.
Finding No. 2013-006
Condition
The Borough did not formally enact, by ordinance or resolution of the governing body, policies for contracting with
a disbursing organization to process payroll disbursements on its behalf, and the agreement with the disbursing
organization does not appear to include all of the terms and conditions required by the New Jersey Administrative
Code.
Current Status
This condition remains partially unresolved as reported in Finding No. 2014-003.
Planned Corrective Action
The Borough will enter into a contract with the disbursing agency which contains the proper terms and conditions.
154
11600
The following officials were in office during the period under audit:
Amount of
Name
Title
Surety Bond
John J. Nicholson
Mayor
Thomas Weaver
President of Council
Jonathan Fisher
Councilman
Mark E. Armbruster
Councilman
Thomas Avellino
Councilman
Thomas Williams
Councilman
Christine Nucera
Councilwoman
Lorraine Boyer
Chief Financial Officer
1,000,000.00
(A)
Joann Watson
Tax Collector
1,000,000.00
(C)
Joann DiBattista
Water/Sewer Clerk
1,000,000.00
(A)
Margaret Giordano
Clerk
1,000,000.00
(A)
Jenai Johnson
Borough Clerk, Dog License Clerk, Registrar of Vital
Statistics, Borough Administrator, Municipal Search Officer
1,000,000.00
(A)
Margie Pierce
Clerk/Deputy Registrar
1,000,000.00
(A)
Albert Hallworth
Construction Code Official
1,000,000.00
(A)
John Holroyd
Electrical Subcode Official
1,000,000.00
(A)
John Otis
Plumbing Subcode Official
1,000,000.00
(A)
Warren Richards
Housing Inspector
1,000,000.00
(A)
Linda Schaeffer
Deputy Borough Clerk to July 15, 2014
1,000,000.00
(A)
Adrianne Guernon
Deputy Borough Clerk from September 8, 2014
1,000,000.00
(A)
Craig Larsen
Municipal Magistrate
1,000,000.00
(B)
Donna Carns
Court Administrator
1,000,000.00
(B)
Kathleen Buchhofer
Deputy Court Administrator, Construction Clerk
1,000,000.00
(A)
Charles Warrington
Assessor
1,000,000.00
(A)
George Botcheos
Solicitor
(A) Covered by the Public Employee Dishonesty Coverage in the amount of $50,000 written by the
Camden County Municipal Joint Insurance Fund and the Excess Public Employee Dishonesty
Coverage in the amount of $950,000 written by the Municipal Excess Liability Joint Insurance Fund.
(B) Covered by the Excess Public Officials Bond Coverage in the amount of $1,000,000 written by the
Municipal Excess Liability Joint Insurance Fund.
(C) Covered by the Primary Statutory Positions Bond Coverage in the amount of $1,000,000 written by the
Municipal Excess Liability Joint Insurance Fund.
All of the Bonds were examined and properly executed.
BOROUGH OF CLEMENTON
Officials in Office and Surety Bonds
155
11600
APPRECIATION
I express my appreciation for the assistance and courtesies rendered by the Borough officials during the course of
the audit.
Respectfully submitted,
BOWMAN & COMPANY LLP
Certified Public Accountants
& Consultants
Todd R. Saler
Certified Public Accountant
Registered Municipal Accountant
156
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"...149 Summary Schedule of Prior Year Audit Findings and Recommendations as Prepared by Management 153 OFFICIALS IN OFFICE AND SURETY BONDS 155 APPRECIATION 156 BOROUGH OF CLEMENTON PART I REPORT OF AUDIT OF FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2014 IN..."
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