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Executive Summary
The document pertains to the Annual Financial Statement (AFS) for the Borough of Hightstown, Mercer County, New Jersey, for the year 2024. It includes instructions for completing the AFS workbook, focusing on key inputs, data rollover processes, and required certifications. The document specifies the need for the AFS to be submitted via the FAST portal with a specific file naming convention and emphasizes the role of the Chief Financial Officer in the submission process. The document outlines key dates for counties (January 26, 2025) and municipalities (February 10, 2025), as well as the requirement to file under New Jersey Statutes.
Web Content
Automated discovery link found on Hightstown website.
Document Text
--- Document: 2024 Hightstown AFS (PDF) Document ---
General Instructions to Complete the Annual Financial Statement Workbook
**If this is a County Annual Financial Statement, you must select "County" on Key Inputs cell F7.**
a) This workbook is composed of several individual worksheets to complete the Annual Financial
Statement.
b) It is designed to automatically calculate linked schedules from each of the data entry points.
c) The individual spreadsheets containing formulas are locked to protect the formulas.
d) Fill in only the gray sections of the worksheet.
e) Begin by navigating to the "Key Inputs" tab.
f)
Select the Municipality or County by clicking on the arrow on the right side of cell D8. This will
populate the municipality/county and dates throughout the workbook. Continue to complete
each of the fields in order to populate throughout the workbook. Enter the exact number of
utilities and the utility types. Do not skip sets of utility pages.
g) In all applicable signature lines insert the email address of the applicable official.
h)
The completed AFS must be submitted to the Division via the FAST portal with a file name of:
xxxx_afs_20xx.xlsm (provide 4 digits municode and year). It must be saved as a Macro-
Enabled Workbook.
i) Only the Chief Financial Officer has access to the "Submit for Review" tab within the FAST
portal.
j) If copying data from a prior workbook, copy and use Paste Values to preserve formatting.
k)
On the Key Inputs tab, users can select "Standard" or "Expanded" for a variety of sections to
reduce the number of unused pages throughout the document. The following sheets can be
adjusted: 6, 6b, 9a, 10, 11, 12, 17a, 20, 35, and 37. All sections are preset to "Standard" and
should only be switched to "Expanded" if more pages are needed.
Quick Guide:
https://www.nj.gov/dca/divisions/dlgs/pdf/FAST%20AFS%20Quick%20User%20Guide.pdf
a)
Download from FAST or have saved on your computer your final 2023 annual financial statement.
b)
On the 2024 AFS, navigate to the "Key Inputs" tab.
**Instructions to Complete the 2023 to 2024 "Data Rollover" Process**
**IMPORTANT: Macros must be enabled in excel in order for the data rollover process to run successfully.**
c)
On "Key Inputs", there will be one "data migration" button
d)
Click the data migration button; it will prompt you to select your 2023 excel AFS from your computer.
e)
Once the 2023 AFS is selected, the function runs automatically. Warning: The functionality may cause the screen to
briefly flash rapidly.
f)
Once complete, review the 2024 AFS template to ensure information has successfully copied from the 2023 AFS.
PLEASE NOTE:
**PLEASE NOTE: Many of the features on this page rely on the use of macros. Because of the nature of this f
cause the screen to "shake" or "flash" momentarily. This is a byproduct of such functionality being run acros
Required Information
Name and County of Municipality
214 *Counties will
Full Name of Municipality/County
BOROUGH OF HIGHTSTOWN
County of Municipality / County
MERCER
Name of Municipality / County
HIGHTSTOWN
Type
BOROUGH
Federal ID #
22-6000721
Governing Body Type
COUNCIL MEMBERS
Address
156 Bank Street
Address
Hightstown, NJ 08520
Phone
(609) 490-5100
Fax
(609) 371-0267
Certificate #
Chief Financial Officer
Donna Condo
N-0689
Registered Municipal Accountant
Daniel DiGangi
Year Ending
12/31/2024
DATES
Balance - January 1, 2024
Balance - December 31, 2024
Outstanding - January 1, 2024
Outstanding - December 31, 2024
Year End
12/31/2024
Next Year End
12/31/2025
Budget Year
2025
AFS Year
2024
PY
2023
Population Last Census (2020)
5,900
Net Valuation Taxable 2024
394,325,400
Muni Code
1104
SELECT FISCAL YEAR TYPE:
CALENDAR YEAR MUNICIPALITIES
Calendar
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2024
COUNTIES - JANUARY 26, 2025
MUNICIPALITIES - FEBRUARY 10, 2025
AS AT DECEMBER 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Jan. 1, 2024
YEAR - 2023
YEAR - 2024
HOW MANY UTILITIES DOES THE ENTITY HAVE:
1
UTILITY NAME(S)
UTILITY 1 WATER-SEWER
UTILITY 2
UTILITY 3
UTILITY 4
UTILITY 5
UTILITY 6
Responses and Data
PAGE COUNT - SELECT STANDARD OR EXPANDED:
Municipal and County AFS Version 2024
Annual Financial Statement - Key Inp
POPULATION LAST CENSUS
NET VALUATION TAXABLE 2024
MUNICODE
ANNUAL FINANCIAL STATEMENT REQUIRED TO BE FILED UNDER NEW JERSEY STATUTES
ANNOTATED 40A:5-12, AS AMENDED, COMBINED WITH INFORMATION REQUIRED PRIOR TO
CERTIFICATION OF BUDGETS BY THE DIRECTOR OF THE DIVISION OF LOCAL GOVERNMENT
SERVICES.
of
, County of
Date
1
2
I hereby certify that the debt shown on Sheets 31 to 34, 49 to 51 and 63 to 65a are
complete, were computed by me and can be supported upon demand by a register or
other detailed analysis.
Signature
Title
(This MUST be signed by Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.)
REQUIRED CERTIFICATION BY THE CHIEF FINANCIAL OFFICER:
I hereby certify that I am responsible for filing this verified Annual Financial Statement,
(which I have prepared) or
(which I have not prepared)
[eliminate one]
and information required also included herein and that this Statement is an
exact copy of the original on file with the clerk of the governing body, that all calculations, extensions and additions
are correct, that no transfers have been made to or from emergency appropriations and all statements contained herein
are in proof; I further certify that this statement is correct insofar as I can determine from all the books and records
kept and maintained in the Local Unit.
Further, I do hereby certify that I,
, am the Chief Financial
Officer, License #
, of the
of
, County of
and that the
statements annexed hereto and made a part hereof are true statements of the financial condition of the Local Unit as at
December 31, 2024, completely in compliance with N.J.S.A. 40A:5-12, as amended. I also give complete assurance as
to the veracity of required information included herein, needed prior to certification by the Director of Local Government
Services, including the verification of cash balances as of December 31, 2024.
Signature
Title
Address
Phone Number
Fax Number
IT IS HEREBY INCUMBENT UPON THE CHIEF FINANCIAL OFFICER, WHEN NOT PREPARED
BY SAID, AT A MINIMUM MUST REVIEW THE CONTENTS OF THIS ANNUAL FINANCIAL
STATEMENT WITH THE PREPARER, SO AS TO BE FAMILIAR WITH THE REPRESENTATIONS
AND ASSERTIONS MADE HEREIN.
CFO
156 Bank Street
Sheet 1
(609) 490-5100
(609) 371-0267
cfo@hightstownborough.com
Examined By:
Preliminary Check
HIGHTSTOWN
MERCER
BOROUGH
Examined
Ddigangi@bowman.cpa
RMA
Donna Condo
N-0689
DO NOT USE THESE SPACES
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2024
(UNAUDITED)
FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2025
5,900
1104
394,325,400
MUNICIPALITIES - FEBRUARY 10, 2025
MERCER
HIGHTSTOWN
BOROUGH
THE REQUIRED CERTIFICATION BY AN RMA IS AS FOLLOWS:
Preparation by Registered Municipal Account (Statement of Statutory Auditor Only)
I have prepared the post-closing trial balances, related statement and analyses included in the
accompanying Annual Financial Statement from the books of account and records made
available to me by the
of
as of as of December 31, 2024 and have applied certain agreed-upon procedures thereon as
promulgated by the Division of Local Government Services, solely to assist the Chief Financial
Officer in connection with the filing of the Annual Financial Statement for the year then
ended as required by N.J.S.A. 40A:5-12, as amended.
Because the agreed-upon procedures do not constitute an examination of accounts made in
accordance with generally accepted auditing standards, I do not express an opinion on any of
the post-closing trial balances, related statements and analyses. In connection with the
agreed-upon procedures,
(except for circumstances as set forth below, no matters)
or
(no matters)
[eliminate one]
came to my attention that caused me to believe that the Annual
Financial Statement for the year ended December 31, 2024 is not in substantial compliance with the
requirements of the State of New Jersey, Department of Community Affairs, Division of Local
Government Services. Had I performed additional procedures or had I made an examination
of the financial statements in accordance with generally accepted auditing standards, other
matters might have come to my attention that would have been reported to the governing
body and Division. This Annual Financial Statement relates only to the accounts and
items prescribed by the Division and does not extend to the financial statements of the
municipality/county taken as a whole.
Listing of agreed-upon procedures not performed and/or matters coming to my attention of
which the Director should be informed:
Certified by me
this
20th day
, 2025
Bowman & Company LLP
(Firm Name)
HIGHTSTOWN
BOROUGH
June
Daniel DiGangi
(Registered Municipal Accountant)
Sheet 1a
(Address)
(856) 782-2891
601 White Horse Road
(Address)
(Phone Number)
(Fax Number)
Voorhees, NJ 08043
One of the following Certifications must be signed by the Chief Financial Officer if
your municipality is eligible for local examination.
1.
The outstanding indebtedness of the previous fiscal year is not in excess of 3.5%;
2.
All emergencies approved for the previous fiscal year did not exceed 3% of total
appropriations;
3.
The tax collection rate exceeded 90%;
4.
Total deferred charges did not equal or exceed 4% of the total tax levy;
5.
There were no "procedural deficiencies" noted by the registered municipal
accountant on Sheet 1a of the Annual Financial Statement; and
6.
There was no operating deficit for the previous fiscal year.
7.
The municipality did not conduct an accelerated tax sale for less than 3 consecutive
years.
8.
The municipality did not conduct a tax levy sale the previous fiscal year and does
not plan to conduct one in the current year.
9.
The current year budget does not contain a Levy or Appropriation "CAP" waiver.
10.
The municipality has not applied for Transitional Aid for 2025.
11.
The municipality did not adopt a Special Emergency ordinance for COVID-related
expenses or loss of revenue (N.J.S.A. 40A:4-53 (l) and (m)).
The undersigned certifies that this municipality has complied in full in meeting ALL of the
above criteria in determining its qualification for local examination of its Budget in accordance
with N.J.A.C. 5:30-7.5.
Municipality:
Chief Financial Officer:
Signature:
Certificate #:
Date:
The undersigned certifies that this municipality does not meet item(s)
of the criteria above and therefore does not qualify for local
examination of its Budget in accordance with N.J.A.C. 5:30-7.5.
Municipality:
Chief Financial Officer:
Signature:
Certificate #:
Date:
MUNICIPAL BUDGET LOCAL EXAMINATION QUALIFICATION CERTIFICATION
BY
CHIEF FINANCIAL OFFICER
CERTIFICATION OF QUALIFYING MUNICIPALITY
cfo@hightstownborough.com
45828
Sheet 1b
CERTIFICATION OF NON-QUALIFYING MUNICIPALITY
BOROUGH OF HIGHTSTOWN
Donna Condo
N-0689
BOROUGH OF HIGHTSTOWN
Fiscal Year Ending:
(1)
(3)
Federal programs
Expended
Other Federal
(administered by
Programs
the state)
Expended
$
25,000.00
$
$
Type of Audit required by Title 2 U.S. Code of Federal Regulations
(CFR) (Uniform Requirements) and OMB 15-08.
Single Audit
Program Specific Audit
X
Financial Statement Audit Performed in Accordance
With Government Auditing Standards (Yellow Book)
Note:
All local governments, who are recipients of federal and state awards (financial assistance), must
report the total amount of federal and state funds expended during its fiscal year and the type of audit
required to comply with Title 2 U.S. Code of Federal Regulations (CFR) OMB 15-08. (Uniform
Guidance) and OMB 15-08. The single audit threshold has been been increased to $750,000
beginning with Fiscal Year ending after 1/1/15. Expenditures are defined in Title 2 U.S. Code of
Federal Regulations (CFR) (Uniform Guidance).
(1)
Report expenditures from federal pass-through programs received directly from state government.
Federal pass-through funds can be identified by the Catalog of Federal Domestic Assistance
(CFDA) number reported in the State's grant/contract agreements.
(2)
Report expenditures from state programs received directly from state government or indirectly from
pass-through entities. Exclude state aid (I.e., CMPTRA, Energy Receipts tax, etc.) since there
are no compliance requirements.
(3)
Report expenditures from federal programs received directly from the federal government or indirectly
from entities other than state government.
6/20/25
Date
Report of Federal and State Financial Assistance
Expenditures of Awards
22-6000721
Fed I.D. #
BOROUGH OF HIGHTSTOWN
Municipality
MERCER
County
Sheet 1c
December 31, 2024
(2)
Programs
Expended
State
cfo@hightstownborough.com
Signature of Chief Financial Officer
TOTAL
679,624.70
INSTRUCTIONS
The following certification is to be used ONLY in the event there is NO municipality
operated utility.
If there is a utility operated by the municipality of if a "utility fund" existed on the books of
account, do not sign this statement and do not remove any of the UTILITY sheets from the
document.
CERTIFICATION
I hereby certify that there was no "utility fund" on the books of account and there was no
utility owned and operated by the
of
,
County of
during the year 2024 and that sheets 40 to 68 are unnecessary.
I have therefore removed from this statement the sheets pertaining only to utilities.
Name
Title
(This must be signed by the Chief Financial Officer, Comptroller, Auditor or Registered
Municipal Accountant.)
Certification is hereby made that the Net Valuation Taxable of property liable to taxation for
the tax year 2025 and filed with the County Board of Taxation on January 10, 2025 in accordance
with the requirement of N.J.S.A. 54:4-35, was in the amount of $
Sheet 2
MUNICIPALITY
MERCER
BOROUGH OF HIGHTSTOWN
COUNTY
IMPORTANT !
READ INSTRUCTIONS
MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2024
HIGHTSTOWN
SIGNATURE OF TAX ASSESSOR
MERCER
395,240,300.00
BOROUGH
N/A
N/A
assessor@hightstownborough.com
Debit
Credit
CASH
5,225,494.88
INVESTMENTS
DUE FROM/TO STATE - VETERANS AND SENIOR CITIZENS
-
1,112.33
Receivables with Full Reserves:
TAXES RECEIVABLE:
PRIOR
-
CURRENT
200,996.97
SUBTOTAL
200,996.97
TAX TITLE LIENS RECEIVABLE
264,550.68
PROPERTY ACQUIRED FOR TAXES
-
CONTRACT SALES RECEIVABLE
-
MORTGAGE SALES RECEIVABLE
-
PREPAID COUNTY TAXES
45.03
PREPAID REGIONAL SCHOOL TAXES
41,771.00
REVENUE ACCOUNTS RECEIVABLE
9,588.88
DUE FROM - WATER-SEWER UTILITY OPERATING FUND
655,691.91
DUE FROM - WATER-SEWER UTILITY CAPITAL FUND
518,451.18
DEFERRED CHARGES:
EMERGENCY
SPECIAL EMERGENCY (40A:4-55)
-
DEFICIT
-
Page Totals:
6,916,590.53
1,112.33
(Do not crowd - add additional sheets)
Sheet 3
Title of Account
NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
POST CLOSING
TRIAL BALANCE - CURRENT FUND
AS AT DECEMBER 31, 2024
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
Debit
Credit
TOTALS FROM PAGE 3
6,916,590.53
1,112.33
APPROPRIATION RESERVES
855,981.54
ENCUMBRANCES PAYABLE
218,438.13
ACCOUNTS PAYABLE
111,805.74
PREPAID TAXES
90,276.84
TAX OVERPAYMENTS
6,401.08
DUE TO STATE - DCA TRAINING FEES
1,139.00
DUE TO STATE - MARRIAGE LICENSE FEES
325.00
DUE TO STATE - LEAD PAINT FEES
4,800.00
DUE TO STATE - EDRS OVERPAYMENT
109.00
LOCAL SCHOOL TAX PAYABLE
-
REGIONAL SCHOOL TAX PAYABLE
-
REGIONAL H.S.TAX PAYABLE
-
COUNTY TAX PAYABLE
-
DUE COUNTY - ADDED & OMMITTED
3,419.89
SPECIAL DISTRICT TAX PAYABLE
-
RESERVE FOR TAX APPEAL
-
40,117.00
427,256.00
105,586.48
252.27
53,437.91
1,974,770.28
PAGE TOTAL
6,916,590.53
3,895,228.49
(Do not crowd - add additional sheets)
Sheet 3a
NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
POST CLOSING
TRIAL BALANCE - CURRENT FUND (CONT'D)
AS AT DECEMBER 31, 2024
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
Title of Account
RESERVE FOR FIRE SAFETY AND CODE ENFORCEMENT FEES
RESERVE FOR SALE OF ASSETS
DUE TO - GRANT FUND
DUE TO - ANIMAL CONTROL FUND
DUE TO - TRUST OTHER FUND
DUE TO - GENERAL CAPITAL FUND
Debit
Credit
TOTALS FROM PAGE 3a
6,916,590.53
3,895,228.49
SUBTOTAL
6,916,590.53
3,895,228.49
"C"
RESERVE FOR RECEIVABLES
1,691,095.65
DEFERRED SCHOOL TAX
-
DEFERRED SCHOOL TAX PAYABLE
-
FUND BALANCE
1,330,266.39
TOTALS
6,916,590.53
6,916,590.53
Title of Account
NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
POST CLOSING
TRIAL BALANCE - CURRENT FUND (CONT'D)
AS AT DECEMBER 31, 2024
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
(Do not crowd - add additional sheets)
Sheet 3a.1
Debit
Credit
TOTALS
-
-
*To be prepared in compliance with Department of Human Services Municipal Audit Guide,
Public Welfare, General Assistance Program.
Title of Account
(Do not crowd - add additional sheets)
Sheet 4
POST CLOSING
TRIAL BALANCE - PUBLIC ASSISTANCE FUND
ACCOUNTS #1 AND #2 *
AS AT DECEMBER 31, 2024
Debit
Credit
CASH
38,439.14
GRANTS RECEIVABLE
140,760.00
DUE FROM - CURRENT FUND
105,586.48
DUE FROM - WATER-SEWER UTILITY OPERATING FUND
4,755.80
DUE FROM - TRUST OTHER FUND
27,842.58
ENCUMBRANCES PAYABLE
3,340.00
APPROPRIATED RESERVES
291,923.12
UNAPPROPRIATED RESERVES
22,120.88
TOTALS
317,384.00
317,384.00
Title of Account
(Do not crowd - add additional sheets)
POST CLOSING TRIAL BALANCE
FEDERAL AND STATE GRANTS
AS AT DECEMBER 31, 2024
Sheet 5
Debit
Credit
ANIMAL CONTROL TRUST FUND
CASH
2,927.93
DUE FROM - CURRENT FUND
252.27
DUE TO STATE OF NJ
43.40
RESERVE FOR ANIMAL CONTROL TRUST FUND
3,136.80
FUND TOTALS
3,180.20
3,180.20
ASSESSMENT TRUST FUND
CASH
-
DUE TO -
RESERVE FOR:
FUND TOTALS
-
-
MUNICIPAL OPEN SPACE TRUST FUND
CASH
-
FUND TOTALS
-
-
LOSAP TRUST FUND
CASH
821,380.60
DUE FROM BOROUGH
20,250.00
RESERVE FOR LOSAP
841,630.60
FUND TOTALS
841,630.60
841,630.60
Title of Account
POST CLOSING
TRIAL BALANCE - TRUST FUNDS
AS AT DECEMBER 31, 2024
(Assessment Section Must Be Separately Stated)
(Do not crowd - add additional sheets)
Sheet 6
Debit
Credit
CDBG TRUST FUND
CASH
-
DUE TO -
FUND TOTALS
-
-
ARTS AND CULTURAL TRUST FUND
CASH
-
FUND TOTALS
-
-
OTHER TRUST FUNDS
CASH
966,221.43
REDEVELOPMENT CIRCULATION STUDY
18,970.55
DUE FROM NJ GIT
53,437.91
DUE FROM - CURRENT FUND
38,218.14
DUE TO - GRANT FUND
27,842.58
DUE TO - WATER-SEWER UTILITY OPERATING FUND
12,307.42
MISCELLANEOUS TRUST FUND RESERVES (SHEET 6B)
1,036,698.03
OTHER TRUST FUNDS PAGE TOTAL
1,076,848.03
1,076,848.03
Title of Account
(Do not crowd - add additional sheets)
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
AS AT DECEMBER 31, 2024
(Assessment Section Must Be Separately Stated)
Sheet 6.1
Debit
Credit
Previous Totals
1,076,848.03
1,076,848.03
OTHER TRUST FUNDS (continued)
TOTALS
1,076,848.03
1,076,848.03
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
(Assessment Section Must Be Separately Stated)
AS AT DECEMBER 31, 2024
Title of Account
(Do not crowd - add additional sheets)
Sheet 6.2
Debit
Credit
Previous Totals
1,076,848.03
1,076,848.03
OTHER TRUST FUNDS (continued)
TOTALS
1,076,848.03
1,076,848.03
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
(Assessment Section Must Be Separately Stated)
AS AT DECEMBER 31, 2024
Title of Account
(Do not crowd - add additional sheets)
Sheet 6. TOTALS
Amount
Dec. 31, 2023
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2024
Reserve for Workman's Comp
9,581.03
30,685.40
16,418.33
23,848.10
Payroll Deductions Payable
51,918.77
1,793,468.08
1,794,831.75
50,555.10
Net Payroll
2,725,029.74
2,725,029.74
-
Escrow Fees
78,678.94
106,523.68
71,709.30
113,493.32
Housing Trust
32,639.54
20,685.88
2,000.00
51,325.42
Unemployment Compensation
81,994.58
1,308.63
699.66
82,603.55
Parking Offenses Adjudication Act
1,373.00
106.00
-
1,479.00
Uniform Fire Safety Act
6,975.03
-
-
6,975.03
Special Law Enforcement Fund
53,155.33
2,133.52
4,344.10
50,944.75
Donations:
-
-
-
Memorial Day Parade
2,439.40
-
200.00
2,239.40
Animal Welfare
1,289.28
-
-
1,289.28
Historical Site
798.71
-
-
798.71
National Night Out
2,594.37
1,300.00
-
3,894.37
Peddie Dam Footbridge
1,059.48
-
-
1,059.48
Franklin St. Project Lighting
6,062.93
-
-
6,062.93
Skatepark
19,345.87
-
-
19,345.87
Cultural Arts
16,921.37
2,394.02
3,875.00
15,440.39
Environmental Trees
2,056.16
-
-
2,056.16
Environmental Donation
74.00
-
-
74.00
American Diner Escrow
788.50
-
-
788.50
Regan Redevelopment
142.00
-
-
142.00
Downtown Coach Lighting
2,833.20
-
-
2,833.20
RBE Performance
2,309.05
-
-
2,309.05
Exercise Class
290.38
-
-
290.38
Recreation Trips
135.00
-
-
135.00
Triathlon
41,102.74
-
477.89
40,624.85
Shakespeare in the Park
3,414.58
4,590.00
4,550.31
3,454.27
Dawes Park
42,956.04
14,145.00
27,419.25
29,681.79
Family Fair
6,500.00
6,500.00
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
462,929.28
$
4,708,869.95
$
4,658,055.33
$
513,743.90
Purpose
SCHEDULE OF TRUST FUND RESERVES
Sheet 6b
Amount
Dec. 31, 2023
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2024
PREVIOUS PAGE TOTAL
462,929.28
4,708,869.95
4,658,055.33
513,743.90
Recaptured Funds Housing Rehab
1,703.00
-
1,703.00
Recycling
52,567.39
7,734.10
14,928.07
45,373.42
Recycling-Grass Collection Program
7,104.24
-
7,104.24
Storm Recovery
48,345.33
5,630.18
42,715.15
Police Off Duty Services
59,062.09
69,120.00
102,908.00
25,274.09
Public Defender
23,079.97
2,297.50
9,300.00
16,077.47
Tax Title Lien Premiums
108,977.25
-
108,977.25
Tax Title Lien Redemptions
28,328.38
19,710.97
4,005.34
44,034.01
Insurance Refunds
81,125.02
133,813.68
134,813.68
80,125.02
Reg Contrib Agreement - Manalapan
145,585.46
5,985.02
-
151,570.48
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
1,018,807.41
$
4,947,531.22
$
4,929,640.60
$
1,036,698.03
SCHEDULE OF TRUST FUND RESERVES (CONT'D)
Purpose
Sheet 6b TOTAL
Audit
Title of Liability to which Cash
Balance
Balance
and Investments are Pledged
Dec. 31, 2023
Assessments
Current
Disbursements
Dec. 31, 2024
and Liens
Budget
Assessment Serial Bond Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
Assessment Bond Anticipation Note Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
Other Liabilities
-
Trust Surplus
-
*Less Assets "Unfinanced"
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
-
-
-
-
-
-
-
*Show as red figure
ANALYSIS OF TRUST ASSESSMENT CASH AND INVESTMENTS PLEDGED TO
LIABILITIES AND SURPLUS
RECEIPTS
Sheet 7
Debit
Credit
Estimated Proceeds Bonds and Notes Authorized
2,561,699.97
xxxxxxxxx
Bonds and Notes Authorized but Not Issued
xxxxxxxxx
2,561,699.97
CASH
30,781.38
DUE FROM -CURRENT FUND
1,974,770.28
DUE FROM -WATER/SEWER UTILITY CAPITAL FUND
545,339.66
FEDERAL AND STATE GRANTS RECEIVABLE
DEFERRED CHARGES TO FUTURE TAXATION:
FUNDED
2,851,451.79
UNFUNDED
6,642,699.97
GRANTS RECEIVABLE
2,227,023.82
PAGE TOTALS
16,833,766.87
2,561,699.97
Title of Account
(Do not crowd - add additional sheets)
Sheet 8
POST CLOSING
TRIAL BALANCE -- GENERAL CAPITAL FUND
AS AT DECEMBER 31, 2024
Debit
Credit
PREVIOUS PAGE TOTALS
16,833,766.87
2,561,699.97
400,000.00
127,959.87
150.00
50.00
4,859.79
47.00
161,655.85
672.47
15,211.88
1,595,000.00
BOND ANTICIPATION NOTES PAYABLE
4,081,000.00
GENERAL SERIAL BONDS
2,800,000.00
TYPE 1 SCHOOL BONDS
-
LOANS PAYABLE
51,451.79
CAPITAL LEASES PAYABLE
-
IMPROVEMENT AUTHORIZATIONS:
FUNDED
1,352,670.22
UNFUNDED
2,705,195.51
ENCUMBRANCES PAYABLE
747,974.87
RESERVE TO PAY BANS
CAPITAL IMPROVEMENT FUND
216,722.50
DOWN PAYMENTS ON IMPROVEMENTS
-
CAPITAL FUND BALANCE
11,445.15
16,833,766.87
16,833,766.87
PAYMENT OF NOTES - ORD. 18-20
MUNICIPAL BUILDING INSURANCE
Sheet 8.1
POST CLOSING
TRIAL BALANCE -- GENERAL CAPITAL FUND
AS AT DECEMBER 31, 2024
Title of Account
(Do not crowd - add additional sheets)
DUE TO - WATER-SEWER UTILITY OPERATING FUND
RESERVE FOR:
GRANTS RECEIVABLE
JOHN AND MARY HIGHT SCULPTURE
DONATIONS
MUNICIPAL FACILITY
HOUSING REHABILITATION
MUNICIPAL FACILITY-FEMA
PURCHASE OF POLICE VEHILCE
Less Checks
Cash Book
*On Hand
On Deposit
Outstanding
Balance
216,438.45
5,073,306.42
64,249.99
5,225,494.88
40,670.62
2,231.48
38,439.14
123.00
4,970.90
2,165.97
2,927.93
-
-
821,380.60
821,380.60
-
11,284.88
1,156,108.32
201,171.77
966,221.43
-
2,063.75
30,526.81
1,809.18
30,781.38
-
153,604.42
537,876.51
49,271.79
642,209.14
20,000.00
769,825.48
7,288.42
782,537.06
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total
403,514.50
8,434,665.66
328,188.60
8,509,991.56
* Include Deposits In Transit
** Be sure to include a Public Assistance Account reconciliation and trial balance if the municipality maintains such a bank account.
REQUIRED CERTIFICATION
I hereby certify that all amounts shown in the "Cash on Deposit" column on Sheet 9 and 9(a) have been verified with the
applicable bank statements, certificates, agreements or passbooks at December 31, 2024.
I also certify that all amounts, if any, shown for Investments in Savings and Loan Associations on any trial balance have
been verified with the applicable passbook at December 31, 2024.
All "Certificates of Deposits", Repurchase Agreements" and other investments must be reported as cash and included in
this certification.
(THIS MUST BE SIGNED BY THE REGISTERED MUNICIPAL ACCOUNTANT (STATUTORY AUDITOR) OR
CHIEF FINANCIAL OFFICER) depending on who prepared this Annual Financial Statement as certified to on Sheet 1 or 1(a).
Signature:
Title:
Grant Fund
Ddigangi@bowman.cpa
RMA
CASH RECONCILIATION DECEMBER 31, 2024
Cash
Sheet 9
Current
Trust - Animal Control
Trust - Assessment
Trust - Municipal Open Space
Trust - LOSAP
Trust - CDBG
Trust - Other
Trust - Arts and Culture
General Capital
UTILITIES:
Water-Sewer Operating Fund
Water-Sewer Capital Fund
Provident Bank:
Current Fund
5,894,687.02
Grant Fund
40,670.62
Animal Control Fund
4,970.90
Trust Other Fund:
Other Trust Funds
535,048.01
Special Law Enforcement
50,944.75
Public Defender
16,911.90
Tax Title Lien Redemption
54,958.31
Regional Contribution Agreement
151,565.48
Affordable Housing Trust
51,325.42
Payroll
148,799.94
Unemployment
33,061.19
Developers Escrow
113,493.32
General Capital Fund
30,526.81
Water-Sewer Operating Fund
537,876.51
Water-Sewer Capital Fund
769,825.48
PAGE TOTAL
8,434,665.66
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
CASH RECONCILIATION DECEMBER 31, 2024 (cont'd)
Note: Sections N.J.S. 40A:4-61, 40A:4-62 and 40A:4-63 of the Local Budget Law require that
separate bank accounts be maintained for each allocated fund.
Sheet 9a
PREVIOUS PAGE TOTAL
8,434,665.66
TOTAL PAGE
8,434,665.66
CASH RECONCILIATION DECEMBER 31, 2024 (cont'd)
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
Note: Sections N.J.S. 40A:4-61, 40A:4-62 and 40A:4-63 of the Local Budget Law require that
separate bank accounts be maintained for each allocated fund.
Sheet 9a TOTAL
2024
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2024
Revenue
Dec. 31, 2024
Realized
-
Small Cities Community Development Block Grant
105,760.00
105,760.00
Stormwater Mapping Grant
10,000.00
10,000.00
-
State Forestry Grant
14,000.00
14,000.00
-
Clean Communities Grant
12,950.66
12,950.66
-
Municipal Court Alcohol Education and Rehabilitation Fund
2,451.68
2,451.68
-
Recycling Tonnage Grant
6,278.17
6,278.17
-
Body Armor Replacement Fund
1,395.83
1,395.83
-
-
Mercer County NJSCA Local Arts Program
8,000.00
8,000.00
-
Mercer at Play Grant
25,000.00
25,000.00
-
-
-
-
-
-
-
PAGE TOTALS
154,760.00
31,076.34
45,076.34
-
-
140,760.00
MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE
Sheet 10
Grant
2024
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2024
Revenue
Dec. 31, 2024
Realized
PREVIOUS PAGE TOTALS
154,760.00
31,076.34
45,076.34
-
-
140,760.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTALS
154,760.00
31,076.34
45,076.34
-
-
140,760.00
MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE (cont'd)
Sheet 10.1
Grant
2024
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2024
Revenue
Dec. 31, 2024
Realized
PREVIOUS PAGE TOTALS
154,760.00
31,076.34
45,076.34
-
-
140,760.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TOTALS
154,760.00
31,076.34
45,076.34
-
-
140,760.00
MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE (cont'd)
Grant
Sheet 10
Totals
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2024
Budget
Appropriation
Dec. 31, 2024
By 40A:4-87
-
Small Cities Community Development Block Grant
113,760.00
113,760.00
Stormwater Mapping Grant
25,000.00
25,000.00
-
Bulletproof Vest Partnership Grant
1,311.65
1,311.65
-
Clean Communities Grant
42,624.75
12,950.66
55,575.41
Municipal Court Alcohol Education and Rehabilitation Fund
15,920.69
2,451.68
18,372.37
Recycling Tonnage Grant
49,781.04
6,278.17
4,196.10
3,000.00
54,863.11
Body Armor Replacement Fund
1,395.83
1,395.83
New Jersey Body Worn Camera Grant
7,455.00
7,449.60
5.40
Sustainable New Jersey Capacity Building Stipend Grant
105.50
105.50
-
Mercer County NJSCA Local Arts Program
8,529.78
8,000.00
6,140.14
200.00
10,589.64
Mercer at Play Grant
28,469.00
28,469.00
JIF Safety Award Grant
4,455.45
4,455.45
Statewide JIF Grant
3,019.76
3,019.76
-
-
-
PAGE TOTALS
299,120.97
31,076.34
-
42,785.84
4,511.65
-
291,923.12
Sheet
11
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Grant
Transferred from 2024
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2024
Budget
Appropriation
Dec. 31, 2024
By 40A:4-87
PREVIOUS PAGE TOTALS
299,120.97
31,076.34
-
42,785.84
4,511.65
-
291,923.12
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTALS
299,120.97
31,076.34
-
42,785.84
4,511.65
-
291,923.12
Sheet
11.1
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2024
Grant
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2024
Budget
Appropriation
Dec. 31, 2024
By 40A:4-87
PREVIOUS PAGE TOTALS
299,120.97
31,076.34
-
42,785.84
4,511.65
-
291,923.12
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTALS
299,120.97
31,076.34
-
42,785.84
4,511.65
-
291,923.12
Sheet
11.2
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2024
Grant
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2024
Budget
Appropriation
Dec. 31, 2024
By 40A:4-87
PREVIOUS PAGE TOTALS
299,120.97
31,076.34
-
42,785.84
4,511.65
-
291,923.12
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TOTALS
299,120.97
31,076.34
-
42,785.84
4,511.65
-
291,923.12
Sheet 11
Totals
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2024
Grant
Budget Appropriations
Balance
Received
Other
Balance
Jan. 1, 2024
Budget
Appropriation
Dec. 31, 2024
By 40A:4-87
PREVIOUS PAGE TOTALS
-
-
-
-
-
-
Click-it-or_ticket Grant
7,000.00
7,000.00
New Jersey Environmental Commission Grant
2,000.00
2,000.00
Body Armor Replacement Grant
43.88
43.88
Mercer County NJSCA Local Arts Program
3,000.00
3,000.00
Safety Incentive Award Grant
250.00
250.00
JIF Safety Grant
2,712.00
3,168.00
5,880.00
Statewide JIF Grant
2,947.00
2,947.00
Walmart Grant
1,000.00
1,000.00
-
-
-
-
-
-
-
-
-
-
TOTALS
10,909.00
-
-
11,211.88
-
22,120.88
Sheet 12
Totals
SCHEDULE OF UNAPPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2024
Grant
Budget Appropriations
Debit
Credit
Balance - January 1, 2024
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
xxxxxxxxxxx
Levy School Year July 1, 2024 - June 30, 2025
xxxxxxxxxxx
Levy Calendar Year 2024
xxxxxxxxxxx
Paid
xxxxxxxxxx
Balance - December 31, 2024
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
-
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2024 - 2025)
xxxxxxxxxx
* Not including Type 1 school debt service, emergency authorizations-schools, transfer to
-
-
Board of Education for use of local schools.
# Must include unpaid requisitions.
Sheet 13
*LOCAL DISTRICT SCHOOL TAX
Debit
Credit
Balance - January 1, 2024
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
(2,899.00)
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
xxxxxxxxxxx
Levy School Year July 1, 2024 - June 30, 2025
xxxxxxxxxxx
Levy Calendar Year 2024
xxxxxxxxxxx
9,253,387.00
Paid
9,292,259.00
xxxxxxxxxx
Balance - December 31, 2024
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
(41,771.00)
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2024 - 2025)
xxxxxxxxxx
# Must include unpaid requisitions.
9,250,488.00
9,250,488.00
Debit
Credit
Balance - January 1, 2024
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
xxxxxxxxxxx
Levy School Year July 1, 2024 - June 30, 2025
xxxxxxxxxxx
Levy Calendar Year 2024
xxxxxxxxxxx
Paid
xxxxxxxxxx
Balance - December 31, 2024
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
-
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2024 - 2025)
xxxxxxxxxx
# Must include unpaid requisitions.
-
-
Sheet 14
REGIONAL SCHOOL TAX
REGIONAL HIGH SCHOOL TAX
(Provide a separate statement for each Regional District involved)
Debit
Credit
Balance - January 1, 2024
xxxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxxx
(45.02)
Due County for Added and Omitted Taxes
xxxxxxxxxxx
-
2024 Levy:
xxxxxxxxxxx
xxxxxxxxxx
General County
xxxxxxxxxxx
3,170,877.49
County Library
xxxxxxxxxxx
295,716.16
County Health
xxxxxxxxxxx
County Open Space Preservation
xxxxxxxxxxx
174,117.90
Due County for Added and Omitted Taxes
xxxxxxxxxxx
3,419.89
Paid
3,640,711.56
xxxxxxxxxx
Balance - December 31, 2024
xxxxxxxxxxx
xxxxxxxxxx
County Taxes
(45.03)
xxxxxxxxxx
Due County for Added and Omitted Taxes
3,419.89
xxxxxxxxxx
3,644,086.42
3,644,086.42
Debit
Credit
Balance - January 1, 2024
xxxxxxxxxxx
2024 Levy: (List Each Type of District Tax Separately - See Footnote)
xxxxxxxxxxx
xxxxxxxxxx
Fire -
xxxxxxxxxxx
xxxxxxxxxx
Sewer -
xxxxxxxxxxx
xxxxxxxxxx
Water -
xxxxxxxxxxx
xxxxxxxxxx
Garbage -
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
Total 2024 Levy
xxxxxxxxxxx
-
Paid
xxxxxxxxxx
Balance - December 31, 2024
-
xxxxxxxxxx
-
-
Footnote: Please state the number of districts in each instance.
Sheet 15
COUNTY TAXES PAYABLE
SPECIAL DISTRICT TAXES
Budget
Realized
Excess or Deficit*
-01
-02
-03
Surplus Anticipated
1,030,874.00
1,030,874.00
-
Surplus Anticipated with Prior Written Consent of
Director of Local Government Services
-
Miscellaneous Revenue Anticipated:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Adopted Budget
1,861,171.84
2,068,718.34
207,546.50
Added by N.J.S.A. 40A:4-87 (List on 17a)
-
-
-
-
-
Total Miscellaneous Revenue Anticipated
1,861,171.84
2,068,718.34
207,546.50
Receipts from Delinquent Taxes
180,000.00
292,345.61
112,345.61
Amount to be Raised by Taxation:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
(a) Local Tax for Municipal Purposes
6,439,191.00
xxxxxxxxx
xxxxxxxxx
(b) Addition to Local District School Tax
xxxxxxxxx
xxxxxxxxx
(c) Minimum Library Tax
xxxxxxxxx
xxxxxxxxx
Total Amount to be Raised by Taxation
6,439,191.00
6,744,548.31
305,357.31
9,511,236.84
10,136,486.26
625,249.42
Debit
Credit
Current Taxes Realized in Cash (Total of Item 10 or 14 on Sheet 22)
xxxxxxxxx
19,137,066.75
Amount to be Raised by Taxation
xxxxxxxxx
xxxxxxxxx
Local District School Tax
-
xxxxxxxxx
Regional School Tax
9,253,387.00
xxxxxxxxx
Regional High School Tax
-
xxxxxxxxx
County Taxes
3,640,711.55
xxxxxxxxx
Due County for Added and Omitted Taxes
3,419.89
xxxxxxxxx
Special District Taxes
-
xxxxxxxxx
Municipal Open Space Tax
xxxxxxxxx
Municipal Arts and Culture Tax
xxxxxxxxx
Reserve for Uncollected Taxes
xxxxxxxxx
505,000.00
Deficit in Required Collection of Current Taxes (or)
xxxxxxxxx
-
Balance for Support of Municipal Budget (or)
6,744,548.31
xxxxxxxxx
*Excess Non-Budget Revenue (see footnote)
xxxxxxxxx
*Deficit Non-Budget Revenue (see footnote)
xxxxxxxxx
19,642,066.75
19,642,066.75
Source
STATEMENT OF GENERAL BUDGET REVENUES 2024
ALLOCATION OF CURRENT TAX COLLECTIONS
Sheet 17
*These items are applicable only when there is no "Amount to be Raised by Taxation" in the
"Budget" column of the statement at the top of this sheet. In such instances, any excess or
deficit in the above allocation would apply to "Non-Budget Revenue" only.
Budget
Realized
Excess or Deficit
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTALS
-
-
-
I hereby certify that the above list of Chapter 159 insertions of revenue have been realized in cash or I have received
written notification of the award of public or private revenue. These insertions meet the statutory requirements of
N.J.S.A. 40A:4-87 and matching funds have been provided if applicable.
CFO Signature:
Sheet 17a
STATEMENT OF GENERAL BUDGET REVENUES 2024
(Continued)
Miscellaneous Revenues Anticipated: Added By N.J.S.A. 40A:4-87
Source
ddigangi@bowman.cpa
Budget
Realized
Excess or Deficit
PREVIOUS PAGE TOTALS
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TOTALS
-
-
-
I hereby certify that the above list of Chapter 159 insertions of revenue have been realized in cash or I have received
written notification of the award of public or private revenue. These insertions meet the statutory requirements of
N.J.S.A. 40A:4-87 and matching funds have been provided if applicable.
CFO Signature:
Sheet 17a Totals
STATEMENT OF GENERAL BUDGET REVENUES 2024
(Continued)
Miscellaneous Revenues Anticipated: Added By N.J.S.A. 40A:4-87
Source
2024 Budget As Adopted
9,511,236.84
2024 Budget - Added by N.J.S.A. 40A:4-87
-
Appropriated for 2024 (Budget Statement Item 9)
9,511,236.84
Appropriated for 2024 by Emergency Appropriation (Budget Statement Item 9)
Total General Appropriations (Budget Statement Item 9)
9,511,236.84
Add: Overexpenditures (see footnote)
Total Appropriations and Overexpenditures
9,511,236.84
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
7,775,330.88
Paid or Charged - Reserve for Uncollected Taxes
505,000.00
Reserved
855,981.54
Total Expenditures
9,136,312.42
Unexpended Balances Canceled (see footnote)
374,924.42
FOOTNOTES - RE: OVEREXPENDITURES
Every appropriation overexpended in the budget document must be marked with an * and must agree in the aggregate with this item.
RE: UNEXPENDED BALANCES CANCELED
Are not to be shown as "Paid or Charged" in the budget document. In all instances "Total Appropriations" and "Overexpenditures"
must equal the sum of "Total Expenditures" and "Unexpended Balances Canceled".
2024 Authorizations
N.J.S.A. 40A:4-46 (After adoption of Budget)
N.J.S.A. 40A:4-20 (Prior to adoption of Budget)
Total Authorizations
-
Deduct Expenditures:
Paid or Charged
Reserved
Total Expenditures
-
Sheet 18
STATEMENT OF GENERAL BUDGET APPROPRIATIONS 2024
SCHEDULE OF EMERGENCY APPROPRIATIONS FOR LOCAL
DISTRICT SCHOOL PURPOSES
(EXCEPT FOR TYPE I SCHOOL DEBT SERVICE)
Debit
Credit
Excess of Anticipated Revenues:
xxxxxxxxx
xxxxxxxxx
Miscellaneous Revenues anticipated
xxxxxxxxx
207,546.50
Delinquent Tax Collections
xxxxxxxxx
112,345.61
xxxxxxxxx
Required Collection of Current Taxes
xxxxxxxxx
305,357.31
Unexpended Balances of 2024 Budget Appropriations
xxxxxxxxx
374,924.42
Miscellaneous Revenue Not Anticipated
xxxxxxxxx
164,047.99
Miscellaneous Revenue Not Anticipated:
Proceeds of Sale of Foreclosed Property (Sheet 27)
Payments in Lieu of Taxes on Real Property
xxxxxxxxx
Sale of Municipal Assets
xxxxxxxxx
Unexpended Balances of 2023 Appropriation Reserves
xxxxxxxxx
496,422.11
Prior Years Interfunds Returned in 2024
xxxxxxxxx
Cancelled Tax Overpayments
6,208.04
Other
7,602.11
Deferred School Tax Revenue: (See School Taxes, Sheets 13 & 14)
xxxxxxxxx
xxxxxxxxx
Balance - January 1, 2024
-
xxxxxxxxx
Balance - December 31, 2024
xxxxxxxxx
-
Deficit in Anticipated Revenues:
xxxxxxxxx
xxxxxxxxx
Miscellaneous Revenues Anticipated
-
xxxxxxxxx
Delinquent Tax Collections
-
xxxxxxxxx
xxxxxxxxx
Required Collection on Current Taxes
-
xxxxxxxxx
Interfund Advances Originating in 2024
598,306.30
xxxxxxxxx
Creation of Prepaid County Taxes
0.01
Creation of Prepaid Regional School Taxes
38,872.00
Refund of Prior Year Revenue
150.00
Prior Year Senior Citizens and Veterans Deduction Disallowed
100.00
Other
470.55
Deficit Balance - To Trial Balance (Sheet 3)
xxxxxxxxx
-
Surplus Balance - To Surplus (Sheet 21)
1,036,555.23
xxxxxxxxx
1,674,454.09
1,674,454.09
RESULTS OF 2024 OPERATIONS
CURRENT FUND
-
xxxxxxxxx
Sheet 19
Amount Realized
PREVIOUS PAGE TOTALS
-
Tax Map/Ord Copies
193.84
Refunds & Reimbursements
24,586.19
Miscellaneous Other
45,456.51
Fees-Admin of Special Duty & Ins
50,000.00
Notary Fees
130.95
Duplicate Tax Bills
1,395.00
Owners List
90.00
Miscellaneous Tax Collector
20.00
Tax Collector Unidentified Funds
1,357.45
Senior Citizen and Veterans Administration Fee
315.00
Accident Reports
914.00
Firearm Permits
3,125.00
Fire Code Other
7,521.00
Miscellaneous Construction Official
2,070.00
Americana Lease of Borough Property
12,750.55
Prior Year Excess Summer Recreation Receipts - Due from Trust Other Fund
14,122.50
Total Amount of Miscellaneous Revenues Not Anticipated (Sheet 19)
164,047.99
SCHEDULE OF MISCELLANEOUS REVENUES
NOT ANTICIPATED
Source
Sheet 20 Totals
Debit
Credit
1.
Balance - January 1, 2024
xxxxxxxxx
1,324,585.16
2.
xxxxxxxxx
3.
Excess Resulting from 2024 Operations
xxxxxxxxx
1,036,555.23
4.
Amount Appropriated in the 2024 Budget - Cash
1,030,874.00
xxxxxxxxx
5.
Amount Appropriated in 2024 Budget - with Prior
Written Consent of Director of Local Government Services
-
xxxxxxxxx
6.
xxxxxxxxx
7.
Balance - December 31, 2024
1,330,266.39
xxxxxxxxx
2,361,140.39
2,361,140.39
Cash
5,225,494.88
Investments
Sub Total
5,225,494.88
Deduct Cash Liabilities Marked with "C" on Trial Balance
3,895,228.49
Cash Surplus
1,330,266.39
Deficit in Cash Surplus
Other Assets Pledged to Surplus:*
-
Deferred Charges #
Cash Deficit #
Total Other Assets
-
* IN THE CASE OF A "DEFICIT IN CASH SURPLUS", "OTHER ASSETS"
1,330,266.39
WOULD ALSO BE PLEDGED TO CASH LIABILITIES.
# MAY NOT BE ANTICIPATED AS NON-CASH SURPLUS IN 2025 BUDGET.
(1) MAY BE ALLOWED UNDER CERTAIN CONDITIONS.
NOTE: Deferred charges for authorizations under N.J.S.A. 40A:4-55 (Tax Map, etc.), N.J.S.A. 40A:4-55 (Flood Damage, etc.), N
40A:4-55.1 (Roads and Bridges, etc.) and N.J.S.A. 40A:4-55.13 (Public Exigencies, etc.) to the extent of emergency notes issue
and outstanding for such purposes, together with such emergency notes, may be omitted from this analysis.
(1) Due from State of N.J. Senior
Citizens and Veterans Deduction
Sheet 21
SURPLUS - CURRENT FUND
YEAR 2024
ANALYSIS OF BALANCE AS AT DECEMBER 31, 2024
(FROM CURRENT FUND - TRIAL BALANCE)
1.
Amount of Levy as per Duplicate (Analysis) #
$
or
(Abstract of Ratables)
$
19,333,289.55
2.
Amount of Levy - Special District Taxes
$
3.
Amount Levied for Omitted Taxes under
N.J.S.A. 54:4-63.12 et seq.
$
4.
Amount Levied for Added Taxes under
N.J.S.A. 54:4-63.1 et seq.
$
22,003.32
5a. Subtotal 2024 Levy
$
19,355,292.87
5b. Reductions Due to Tax Appeals**
$
5c. Total 2024 Tax Levy
$
19,355,292.87
6.
Transferred to Tax Title Liens
$
17,229.15
7.
Transferred to Foreclosed Property
$
8.
Remitted, Abated or Canceled
$
9.
Discount Allowed
$
10. Collected in Cash: In 2023
$
91,515.27
In 2024*
$
19,029,760.38
Homestead Benefit Credit
$
State's Share of 2024 Senior Citizens
and Veterans Deductions Allowed
$
15,791.10
Total To Line 14
$
19,137,066.75
11. Total Credits
$
19,154,295.90
12. Amount Outstanding December 31, 2024
$
200,996.97
13. Percentage of Cash Collections to Total 2024 Levy,
(Item 10 divided by Item 5c) is
98.87%
Note : If municipality conducted Accelerated Tax Sale or Tax Levy Sale check here ____ and complete sheet 22a
14. Calculation of Current Taxes Realized in Cash:
Total of Line 10
$
19,137,066.75
Less: Reserve for Tax Appeals Pending
State Division of Tax Appeals
$
To Current Taxes Realized in Cash (Sheet 17)
$
19,137,066.75
Note A: In showing the above percentage the following should be noted:
Where Item 5 shows $1,500,000.00, and Item 10 shows $1,049,977.50,
the percentage represented by the cash collections would be
$1,049,977.50 divided by $1,500,000, or .699985. The correct percentage to
be shown as Item 13 is 69.99% and not 70.00%, nor 69.999%.
# Note: On Item 1 if Duplicate (Analysis) Figure is used; be sure to include
Senior Citizens and Veterans Deductions.
* Include overpayments applied as part of 2024 collections.
** Tax appeals pursuant to R.S. 54:3-21 et seq and/or R.S. 54:48-1 et seq approved by resolution of the governing
body prior to introduction of municipal budget
(FOR MUNICIPALITIES ONLY)
CURRENT TAXES - 2024 LEVY
Sheet 22
(1) Utilizing Accelerated Tax Sale
Total of Line 10 Collected in Cash (sheet 22)
$
19,137,066.75
LESS : Proceeds from Accelerated Tax Sale
Net Cash Collected
$
19,137,066.75
Line 5c (sheet 22) Total 2024 Tax Levy
$
19,355,292.87
Percentage of Collection Excluding Accelerated Tax Sale Proceeds
(Net Cash Collected divided by Item 5c) is
98.87%
(2) Utilizing Tax Levy Sale
Total of Line 10 Collected in Cash (sheet 22)
$
19,137,066.75
LESS : Proceeds from Tax Levy Sale (excluding premium)
Net Cash Collected
$
19,137,066.75
Line 5c (sheet 22) Total 2024 Tax Levy
$
19,355,292.87
Percentage of Collection Excluding Tax Levy Sale Proceeds
(Net Cash Collected divided by Item 5c) is
98.87%
Sheet 22a
ACCELERATED TAX SALE / TAX LEVY SALE - CHAPTER 99
To Calculate Underlying Tax Collection Rate for 2024
Utilize this sheet only if you conducted an Accelerated Tax Sale or Tax Levy Sale pursuant to
Chapter 99, P.L. 1997.
Debit
Credit
1.
Balance - January 1, 2024
xxxxxxxxx
xxxxxxxxx
Due From State of New Jersey
xxxxxxxxx
Due To State of New Jersey
xxxxxxxxx
682.88
2.
Senior Citizens Deductions Per Tax Billings
1,500.00
xxxxxxxxx
3.
Veterans Deductions Per Tax Billings
14,500.00
xxxxxxxxx
4.
Deductions Allowed By Tax Collector
500.00
xxxxxxxxx
5.
Deductions Allowed By Tax Collector - Prior Year Taxes (2023)
6.
7.
Deductions Disallowed By Tax Collector
xxxxxxxxx
708.90
8.
Deductions Disallowed By Tax Collector - Prior Year Taxes (2023)
xxxxxxxxx
470.55
9.
Received in Cash from State
xxxxxxxxx
15,750.00
10.
11.
12. Balance - December 31, 2024
xxxxxxxxx
xxxxxxxxx
Due From State of New Jersey
xxxxxxxxx
-
Due To State of New Jersey
1,112.33
xxxxxxxxx
17,612.33
17,612.33
Calculation of Amount to be included on Sheet 22, Item 10 -
2024 Senior Citizens and Veterans Deductions Allowed
Line 2
1,500.00
Line 3
14,500.00
Line 4
500.00
Sub - Total
16,500.00
Less: Line 7
708.90
To Item 10, Sheet 22
15,791.10
SCHEDULE OF DUE FROM / TO STATE OF NEW JERSEY
FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Sheet 23
Debit
Credit
Balance - January 1, 2024
xxxxxxxxxx
-
Taxes Pending Appeals
xxxxxxxxxx
xxxxxxxxx
Interest Earned on Taxes Pending Appeals
xxxxxxxxxx
xxxxxxxxx
xxxxxxxxxx
Interest Earned on Taxes Pending State Appeals
xxxxxxxxxx
Cash Paid to Appellants (Including 5% Interest from Date of Payment)
xxxxxxxxx
Closed to Results of Operation
(Portion of Appeal won by Municipality, including Interest)
xxxxxxxxx
Balance - December 31, 2024
-
xxxxxxxxx
Taxes Pending Appeals*
xxxxxxxxx
xxxxxxxxx
Interest Earned on Taxes Pending Appeals
xxxxxxxxx
xxxxxxxxx
*Includes State Tax Court and County Board of Taxation
-
-
Appeals Not Adjusted by December 31, 2024
6/20/2025
Date
Sheet 24
SCHEDULE OF RESERVE FOR TAX APPEALS PENDING -
N.J. DIVISION OF TAXATION APPEALS (N.J.S.A. 54:3-27)
Signature of Tax Collector
License #
Contested Amount of 2024 Taxes Collected which are
Pending State Appeal (Item 14, Sheet 22)
tax@hightstownborough.com
T-8626
1. Balance - January 1, 2024
549,796.59
xxxxxxxxx
A. Taxes
291,875.06
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
257,921.53
xxxxxxxxx
xxxxxxxxx
2. Canceled:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
10,600.00
3. Transferred to Foreclosed Tax Title Liens:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
4. Added Taxes
470.55
xxxxxxxxx
5. Added Tax Title Liens
xxxxxxxxx
6.
xxxxxxxxx
A. Taxes - Transfers to Tax Title Liens
xxxxxxxxx
(1)
B. Tax Title Liens - Transfers from Taxes
(1)
-
xxxxxxxxx
7. Balance Before Cash Payments
xxxxxxxxx
539,667.14
8.
Totals
550,267.14
550,267.14
9. Balance Brought Down
539,667.14
xxxxxxxxx
10. Collected:
xxxxxxxxx
292,345.61
A. Taxes
292,345.61
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
xxxxxxxxx
11. Interest and Costs - 2024 Tax Sale
xxxxxxxxx
12. 2024 Taxes Transferred to Liens
17,229.15
xxxxxxxxx
13. 2024 Taxes
200,996.97
xxxxxxxxx
14. Balance - December 31, 2024
xxxxxxxxx
465,547.65
A. Taxes
200,996.97
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
264,550.68
xxxxxxxxx
xxxxxxxxx
15.
Totals
757,893.26
757,893.26
16. Percentage of Cash Collections to Adjusted Amount Outstanding
(Item No. 10 divided by Item No. 9) is
54.17%
17. Item No.14 multiplied by percentage shown above is
252,187.16
and represents the
maximum amount that may be anticipated in 2025.
(See Note A on Sheet 22 - Current Taxes)
(1) These amounts will always be the same.
Sheet 26
SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS
Debit
Credit
Adjustment between Taxes (Other than Current Year) and Tax Title Liens;
Debit
Credit
1. Balance - January 1, 2024
xxxxxxxxx
2. Foreclosed or Deeded in 2024
xxxxxxxxx
xxxxxxxxx
3.
Tax Title Liens
-
xxxxxxxxx
4.
Taxes Receivable
-
xxxxxxxxx
5A.
xxxxxxxxx
5B.
xxxxxxxxx
6.
Adjustment to Assessed Valuation
xxxxxxxxx
7.
Adjustment to Assessed Valuation
xxxxxxxxx
8. Sales
xxxxxxxxx
xxxxxxxxx
9.
Cash *
xxxxxxxxx
10.
Contract
xxxxxxxxx
11.
Mortgage
xxxxxxxxx
12.
Loss on Sales
xxxxxxxxx
13.
Gain on Sales
xxxxxxxxx
14. Balance - December 31, 2024
xxxxxxxxx
-
-
-
Debit
Credit
15. Balance - January 1, 2024
xxxxxxxxx
16. 2024 Sales from Foreclosed Property
xxxxxxxxx
17. Collected*
xxxxxxxxx
18.
xxxxxxxxx
19. Balance - December 31, 2024
xxxxxxxxx
-
-
-
Debit
Credit
20. Balance - January 1, 2024
xxxxxxxxx
21. 2024 Sales from Foreclosed Property
xxxxxxxxx
22. Collected*
xxxxxxxxx
23.
xxxxxxxxx
24. Balance - December 31, 2024
xxxxxxxxx
-
-
-
Analysis of Sale of Property:
$
-
*Total Cash Collected in 2024
Realized in 2024 Budget
To Results of Operation (Sheet 19)
-
Sheet 27
SCHEDULE OF FORECLOSED PROPERTY
(PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION)
CONTRACT SALES
MORTGAGE SALES
Amount
Dec. 31, 2023
Amount in
Amount
Balance
per Audit
2024
Resulting from
as at
Report
Budget
2024
Dec. 31, 2024
Emergency Authorization -
Municipal*
$
$
$
$
-
Emergency Authorization -
Schools
$
$
$
$
-
Overexpenditure of Appropriations
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
TOTAL DEFERRED CHARGES
$
-
$
-
$
-
$
-
*Do not include items funded or refunded as listed below.
Amount
1.
$
2.
$
3.
$
4.
$
5.
$
Appropriated for
in Budget of
Date Entered
Amount
Year 2024
1.
$
2.
$
3.
$
4.
$
Sheet 28
JUDGMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED
On Account of
In Favor of
DEFERRED CHARGES
EMERGENCY AUTHORIZATIONS UNDER N.J.S.A. 40A:4-47 WHICH HAVE BEEN
FUNDED OR REFUNDED UNDER N.J.S.A. 40A:2-3 OR N.J.S.A. 40A:2-51
Date
Purpose
- MANDATORY CHARGES ONLY -
CURRENT, TRUST, AND GENERAL CAPITAL FUNDS
(Do not include the emergency authorizations pursuant to N.J.S.A. 40A:4-55,
N.J.S.A. 40A:4-55.1 or N.J.S.A. 40A:4-55.13 listed on Sheets 29 and 30.)
Caused By
N.J.S.A. 40A:4-53 SPECIAL EMERGENCY -
TAX MAP; REVALUATION; MASTER PLAN; REVISION AND CODIFICATION OF ORDINANCES; DRAINAGE MAPS
FOR FLOOD CONTROL; PRELIMINARY ENGINEERING STUDIES, ETC. FOR SANITARY SEWER SYSTEM; MUNICIPAL
CONSOLIDATION ACT; FLOOD OR HURRICANE DAMAGE.
Amount
Not Less Than
Balance
Balance
Authorized
1/5 of Amount
Dec. 31, 2023
By 2024
Canceled
Dec. 31, 2024
Authorized*
Budget
By Resolution
NONE
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Totals
-
-
-
-
-
-
It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S.A. 40A:4-53 et seq. and
are recorded on this page
* Not less than one-fifth (1/5) of amount authorized but not more than the amount in the column 'Balance Dec. 31, 2024' must be entered here and then raised in the 2025 budget.
REDUCED IN
Sheet 29
Date
Purpose
cfo@hightstownborough.com
Chief Financial Officer
2024
N.J.S.A. 40A:4-55.1, ET SEQ., SPECIAL EMERGENCY - DAMAGE CAUSED TO ROADS OR BRIDGES BY SNOW, ICE, FROST OR FLOODS
N.J.S.A. 40A:4-55.13, ET SEQ., SPECIAL EMERGENCY - PUBLIC EXIGENCIES CAUSED BY CIVIL DISTURBANCES
Amount
Not Less Than
Balance
Balance
Authorized
1/3 of Amount
Dec. 31, 2023
By 2024
Canceled
Dec. 31, 2024
Authorized*
Budget
By Resolution
NONE
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Totals
-
-
-
-
-
-
It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S.A. 40A:4-55.1 et seq. and
N.J.S.A. 40A:4-55.13 et seq. and are recorded on this page
* Not less than one-third (1/3) of amount authorized but not more than the amount in the column 'Balance Dec. 31, 2024' must be entered here and then raised in the 2025 budget.
REDUCED IN
Sheet 30
Date
Purpose
cfo@hightstownborough.com
Chief Financial Officer
2024
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
480,000.00
Outstanding - December 31, 2024
2,800,000.00
3,280,000.00
2025 Bond Maturities - General Capital Bonds
$
2025 Interest on Bonds*
$
79,200.00
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Bond Maturities - Assessment Bonds
$
2025 Interest on Bonds*
$
Total "Interest on Bonds - Debt Service" (*Items)
$
2025 Maturity
Interest
Rate
Total
-
-
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR BONDS
GENERAL CAPITAL BONDS
2025 Debt Service
Credit
3,280,000.00
480,000.00
xxxxxxxxx
79,200.00
xxxxxxxxx
-
xxxxxxxxx
xxxxxxxxx
3,280,000.00
ASSESSMENT SERIAL BONDS
Sheet 31
LIST OF BONDS ISSUED DURING 2024
-
Date of
Issue
Purpose
Amount Issued
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
8,764.74
Refunded
Outstanding - December 31, 2024
51,451.79
60,216.53
2025 Loan Maturities
$
2025 Interest on Loans
$
Total 2025 Debt Service for Green Acres Loan
$
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Loan Maturities
$
2025 Interest on Loans
$
Total 2025 Debt Service for Loan
$
2025 Maturity
Interest
Rate
Total
-
-
Sheet 31a
LIST OF LOANS ISSUED DURING 2024
-
Date of
Issue
Amount Issued
LOAN
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR LOANS
GREEN ACRES LOAN
2025 Debt Service
Credit
60,216.53
-
xxxxxxxxx
xxxxxxxxx
Purpose
985.00
9,925.92
60,216.53
xxxxxxxxx
8,940.92
-
xxxxxxxxx
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Refunded
Outstanding - December 31, 2024
-
-
2025 Loan Maturities
$
2025 Interest on Loans
$
Total 2025 Debt Service for Loan
$
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Loan Maturities
$
2025 Interest on Loans
$
Total 2025 Debt Service for Loan
$
2025 Maturity
Interest
Rate
Total
-
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR LOANS
LOAN
Credit
2025 Debt Service
xxxxxxxxx
xxxxxxxxx
-
LOAN
xxxxxxxxx
xxxxxxxxx
-
-
LIST OF LOANS ISSUED DURING 2024
Purpose
Amount Issued
Date of
Issue
Sheet 31a.1
-
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Refunded
Outstanding - December 31, 2024
-
-
2025 Loan Maturities
$
2025 Interest on Loans
$
Total 2025 Debt Service for Loan
$
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Loan Maturities
$
2025 Interest on Loans
$
Total 2025 Debt Service for Loan
$
2025 Maturity
Interest
Rate
Total
-
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR LOANS
LOAN
Credit
2025 Debt Service
xxxxxxxxx
xxxxxxxxx
-
LOAN
xxxxxxxxx
xxxxxxxxx
-
-
LIST OF LOANS ISSUED DURING 2024
Purpose
Amount Issued
Date of
Issue
Sheet 31a.2
-
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Bond Maturities - Term Bonds
$
2025 Interest on Bonds
$
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Interest on Bonds
$
2025 Bond Maturities - Term Bonds
$
Total "Interest on Bonds - Type I School Debt Service" (*Items)
$
2025 Maturity
-01
Interest
Rate
Total
-
Outstanding
Dec. 31, 2024
1.
Emergency Notes
$
$
2.
Special Emergency Notes
$
$
3.
Tax Anticipation Notes
$
$
4.
Interest on Unpaid State & County Taxes
$
$
5.
$
$
6.
$
$
2025 Interest
Sheet 32
Requirement
xxxxxxxxx
2025 INTEREST REQUIREMENT - CURRENT FUND DEBT ONLY
Purpose
Date of
Issue
xxxxxxxxx
Amount Issued
-02
-
xxxxxxxxx
LIST OF BONDS ISSUED DURING 2024
-
-
TYPE I SCHOOL SERIAL BONDS
-
xxxxxxxxx
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR BONDS
TYPE I SCHOOL TERM BONDS
2025 Debt Service
Credit
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2024
12/30/2020
11,250.00
03/25/25
4.5000%
685.00
378.27
03/25/25
12/30/2020
9,300.00
03/25/25
4.5000%
553.00
312.71
03/25/25
12/30/2020
228,000.00
03/25/25
4.5000%
12,633.00
7,666.50
03/25/25
12/30/2020
284,200.00
03/25/25
4.5000%
7,895.00
9,556.23
03/25/25
12/30/2020
295,200.00
03/25/25
4.5000%
17,369.00
9,926.10
03/25/25
12/30/2020
163,900.00
03/25/25
4.5000%
8,296.00
5,511.14
03/25/25
12/30/2020
89,400.00
03/25/25
4.5000%
5,264.00
3,006.08
03/25/25
12/30/2020
443,000.00
03/25/25
4.5000%
16,414.00
14,895.88
03/25/25
12/30/2020
159,000.00
3/25/2025
4.5000%
13,009.00
5,346.38
03/25/25
Page Totals
-
1,683,250.00
82,118.00
56,599.29
Memo: Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate of 20% of the original amount issued annually.
Memo: Type 1 School Notes should be separately listed and totaled.
*"Original Date of Issue" refers to the date when the first money was borrowed for a particular improvement, not the renewal date of subsequent notes which were issued.
All notes with an original date of issue of 2022 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2025 or
written intent of permanent financing submitted with statement.
(Do not crowd - add additional sheets)
** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
Sheet 33
Title or Purpose of Issue
2025 Budget Requirements
13-23/15-06 Road Imps to Park Ave, Greenly St,
and Glen Brook Place
15-07 Road Imps to Park Way, Grant St,
and Hutchinson St.
15-15/17-15/22-24 Imps to Stockton St and
and Joseph St.
17-09/21-10 Retaining Wall, First Ave Imps
17-17/19-07 Imps to Maple Ave and Sunset Ave
18-18 Various Cap Imp - Public Safety
18-20 Imps to Lincoln Ave, Hagemont Ave and
Rocky Brook Ct.
19-10 Design Costs - Municipal Complex
19-20 Various Cap Imps - Police, Fire and DPW
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2024
PREVIOUS PAGE TOTALS
-
1,683,250.00
82,118.00
56,599.29
20-05 Springcrest, Spruce Court
and Glenn Dr.
9/29/2022
357,750.00
03/25/25
4.5000%
18,829.00
12,029.34
03/25/25
20-15 Crosswalk Signal & Fire Dept Equip
9/29/2022
100,000.00
03/25/25
4.5000%
9,561.00
3,362.50
03/25/25
21-02 Imprs to Various Rds - Hauser Ave,
Bennet Pl, Railroad Ave and Dey St
9/29/2022
500,000.00
03/25/25
4.5000%
26,316.00
16,812.50
03/25/25
22-11 Imps to Various Rds - Orchard,
Clover and South Main
9/29/2022
390,000.00
03/25/25
4.5000%
4,737.00
13,113.75
03/25/25
22-21 Public Safety Imps Police and Fire,
Parks & Rec, and E. Ward St Bridge
9/27/2023
600,000.00
03/25/25
4.5000%
20,175.00
03/25/25
23-02 Imps to Maxwell Avenue
9/27/2023
100,000.00
03/25/25
4.5000%
3,362.50
03/25/25
23-12 Various Capital Imps
9/27/2023
350,000.00
03/25/25
4.5000%
11,768.75
03/25/25
PAGE TOTALS
-
4,081,000.00
141,561.00
137,223.63
Memo: Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate of 20% of the original amount issued annually.
Memo: Type 1 School Notes should be separately listed and totaled.
*"Original Date of Issue" refers to the date when the first money was borrowed for a particular improvement, not the renewal date of subsequent notes which were issued.
All notes with an original date of issue of 2022 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2025 or
written intent of permanent financing submitted with statement.
(Do not crowd - add additional sheets)
** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
2025 Budget Requirements
Title or Purpose of Issue
Sheet 33.1
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2024
PREVIOUS PAGE TOTALS
-
4,081,000.00
141,561.00
137,223.63
PAGE TOTALS
-
4,081,000.00
141,561.00
137,223.63
Memo: Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate of 20% of the original amount issued annually.
Memo: Type 1 School Notes should be separately listed and totaled.
*"Original Date of Issue" refers to the date when the first money was borrowed for a particular improvement, not the renewal date of subsequent notes which were issued.
All notes with an original date of issue of 2022 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2025 or
written intent of permanent financing submitted with statement.
(Do not crowd - add additional sheets)
** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
2025 Budget Requirements
Title or Purpose of Issue
Sheet 33
Totals
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2024
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
Total
-
-
-
-
MEMO: *See Sheet 33 for clarification of "Original Date of Issue"
Assessment Notes with an original date of issue of 2022 or prior must be appropriated in full in the 2025 Dedicated Assessment Budget or written intent of permanent financing
submitted with statement.
**Interest on Assessment Notes must be included in the Current Fund Budget appropriation "Interest on Notes".
(Do not crowd - add additional sheets)
DEBT SERVICE SCHEDULE FOR ASSESSMENT NOTES
Sheet 34
Title or Purpose of Issue
2025 Budget Requirements
Amount
Lease Obligation Outstanding
Dec. 31, 2024
For Principal
For Interest/Fees
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
Total
-
-
-
(Do not crowd - add additional sheets)
SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS
Sheet 34a
Purpose
2025 Budget Requirements
2024
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
04-17
Acquisition of Capacity Rights - JCP&L
16,784.33
16,784.33
05-04/09-13:
Mercer Street Revitalization Project
17,182.52
17,182.52
05-24
Peddie Lake Dam Improvements
318.74
318.74
05-34
Streetscape/Main St. Redevelopment Area
11,936.46
11,936.46
07-26
Police Department Equipment
618.17
618.17
08-01
Waterlea Avenue Improvements
2,062.34
2,062.34
09-20
Stockton Street Historic District Imps
1,677.82
16,899.57
1,677.82
16,899.57
10-02
Reconstruction of Leshin Lane
640.46
13,000.00
640.46
13,000.00
10-16
Summit Street Sidewalk Improvements
258.74
258.74
11-05
Milling and Paving Various Roads
6,886.61
6,886.61
12-13
Various Capital Improvements
28,946.23
500.00
26,382.60
26,382.60
28,946.23
500.00
12-15
Comm Equip - Fire Dept and First Aid
1,100.00
1,100.00
13-07/15-14/19-04:
Imps to Peddie Lake Dam Walking Bridge
27,579.74
27,579.74
13-22
Public Safety Equipment
11,048.00
11,048.00
13-23/15-06 Road Imps to Park Ave, Greeley St,
and Green Brook Pl
17,253.29
17,253.29
Page Total
91,996.33
82,696.69
-
26,382.60
26,382.60
-
91,996.33
82,696.69
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND)
Sheet 35
IMPROVEMENTS
Specify each authorization by purpose. Do
not merely designate by a code number.
Balance - January 1, 2024
Balance - December 31, 2024
2024
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
91,996.33
82,696.69
-
26,382.60
26,382.60
-
91,996.33
82,696.69
14-06
Various Capital Imps Including Doc Rest
14,887.37
9,334.00
14,887.37
9,334.00
14-13
Various Capital Improvements
3,342.67
3,342.67
15-07
Road Imps to Park Way, Grant St
and hutchinson St.
27,670.80
27,670.80
15-11/15-15/17-15:
Acquisition of Arial Ladder Truck
953.22
300.00
953.22
300.00
22-24
Imps to Stockton St and Joseph St
2,471.00
8,403.07
8,702.90
2,171.17
15-20
Acquisition of Automated Garbage Truck
6,181.10
6,181.10
16-08
Police Vehicles, Public Safety Equipment
5,624.53
5,624.53
16-12
Rehabilitation of East Ward Street
39,026.59
90,000.00
39,026.59
90,000.00
17-09/21-10Retaining Wall, First Avenue Improvements
78,731.24
38,394.03
52,141.56
64,983.71
17-12/17-17Police, Fire, DPW Court Equipment
10,392.41
40.00
10,392.41
40.00
19-07
Imps to Maple Avenue and Sunset Avenue
22,256.18
500.00
21,756.18
18-12
Acquisition of Land - YCMA
26,993.50
26,993.50
18-18
Various Capital Imps - Public Safety
8,422.11
500.00
8,122.11
18-20
Imps to Lincoln Ave, Hagemount Ave
Bennet Pl, Railroad Ave and Dey St
95,357.51
95,357.51
PAGE TOTALS
199,397.72
417,279.53
-
73,179.70
88,227.06
-
199,397.72
402,432.17
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND) (cont.)
Sheet 35.1
IMPROVEMENTS
Specify each authorization by purpose. Do
not merely designate by a code number.
Balance - January 1, 2024
Balance - December 31, 2024
2024
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
199,397.72
417,279.53
-
73,179.70
88,227.06
-
199,397.72
402,432.17
19-10
Design Costs - Municipal Complex
2,534.01
55,700.78
56,200.78
2,034.01
19-20
Var Capital Imps - Police, Fire and DPW
19,680.04
200.00
19,480.04
20-05
Springcrest, Spruce Court and Glenn Dr
4,748.14
698.00
4,050.14
20-15
Crosswalk Signal and Fire Dept Equip
61,886.22
300.00
61,586.22
21-02
Imps to Various Roads - Hauser Ave,
Bennet Pl, Railroad Ave and Dey St
156,171.02
142,679.88
(176,037.54)
474,888.44
22-11
Imps to Various Roads:
Orchard, Clover and South Main
499,314.70
650,000.00
937,821.24
211,493.46
22-21
Public Safety Imps Police and Fire, Parks
and Recreation and E. Ward St. Bridge
247,289.31
448,912.07
469,764.18
226,437.20
23-02
Improvements to Maxwell Avenue
594,432.50
233,730.00
2,762.50
41,996.25
555,198.75
233,730.00
23-12
Various Capital Improvements
115,534.39
167,994.34
186,321.06
97,207.67
23-22
Improvements to the Sluice Gate
3,200.00
61,800.00
600.00
2,600.00
61,800.00
24-04
Improvements to Summit Street
855,000.00
600.00
478,110.00
376,290.00
24-12
Various Capital Improvements
400,400.00
259,933.84
140,466.16
24-16
Dawes Park Recreation Improvements
521,000.00
10,336.25
117,363.75
393,300.00
PAGE TOTALS
1,296,344.92
1,970,652.66
1,776,400.00
891,229.27
1,876,961.12
-
1,352,670.22
2,705,195.51
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 35.2
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND) (cont.)
Balance - January 1, 2024
Balance - December 31, 2024
IMPROVEMENTS
Specify each authorization by purpose. Do
2024
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,296,344.92
1,970,652.66
1,776,400.00
891,229.27
1,876,961.12
-
1,352,670.22
2,705,195.51
GRAND TOTALS
1,296,344.92
1,970,652.66
1,776,400.00
891,229.27
1,876,961.12
-
1,352,670.22
2,705,195.51
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 35 Totals
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND) (cont.)
Balance - January 1, 2024
Balance - December 31, 2024
IMPROVEMENTS
Specify each authorization by purpose. Do
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
220,922.50
Received from 2024 Budget Appropriation*
xxxxxxxxx
15,000.00
xxxxxxxxx
Improvement Authorizations Canceled
(financed in whole by the Capital Improvement Fund)
List by Improvements - Direct Charges Made for Preliminary Costs:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
19,200.00
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2024
216,722.50
xxxxxxxxx
235,922.50
235,922.50
*The full amount of the 2024 budget appropriation should be transferred to this account unless the
balance of the appropriation is to be permitted to lapse.
GENERAL CAPITAL FUND
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Sheet 36
xxxxxxxxx
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
Received from 2024 Budget Appropriation*
xxxxxxxxx
Received from 2024 Emergency Appropriation*
xxxxxxxxx
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2024
-
xxxxxxxxx
-
-
*The full amount of the 2024 budget appropriation should be transferred to this account unless the
balance of the appropriation is to be permitted to lapse.
Amount
Total
Down Payment
Additional Funding
Appropriated
Obligations
Provided by
Sources
Authorized
Ordinance
Ord. 24-04
Improvements to Summit Street
855,000.00
376,290.00
-
478,710.00
Ord. 24-12
Various capital Improvements
400,400.00
381,200.00
19,200.00
-
Ord. 24-16
Dawes Park Recreation Imps
521,000.00
393,300.00
-
127,700.00
Total
1,776,400.00
1,150,790.00
19,200.00
606,410.00
NOTE - Where amount in column "Down Payment Provided by Ordinance" is LESS than 5% of amount in
column "Total Obligations Authorized", explanation must be made part of or attached to this sheet.
GENERAL CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
CAPITAL IMPROVEMENTS AUTHORIZED IN 2024
AND DOWN PAYMENTS (N.J.S.A. 40A:2-11)
Purpose
Sheet 37
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
9,811.68
Premium on Sale of Bonds
xxxxxxxxx
Funded Improvement Authorizations Canceled
xxxxxxxxx
Premium on Sale of Notes
1,633.47
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
Appropriated to 2024 Budget Revenue
xxxxxxxxx
Balance - December 31, 2024
11,445.15
xxxxxxxxx
11,445.15
11,445.15
GENERAL CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
Sheet 38
YEAR - 2024
A.
1.
Total Tax Levy for Year 2024 was
$
2.
Amount of Item 1 Collected in 2024 (*)
$
3.
Seventy (70) percent of Item 1
$
(*) Including prepayments and overpayments applied.
B.
1.
Did any maturities of bonded obligations or notes fall due during the year 2024?
YES
2.
Have payments been made for all bonded obligations or notes due on or before
December 31, 2024?
YES
If answer is "NO" give details
NOTE: If answer to Item B1 is YES, then Item B2 must be answered
C.
Does the appropriation required to be included in the Calendar Year 2025 budget for the liquidation of all bonded
obligations or notes exceed 25% of the total appropriations for operating purpose in the budget for the year
just ended?
NO
D.
1.
Cash Deficit 2023
$
2.
4% of 2023 Tax Levy for all purposes:
Levy --
$
=
$
3.
Cash Deficit 2024
$
4.
4% of 2024 Tax Levy for all purposes:
Levy --
$
=
$
E.
1.
State Taxes
$
$
$
2.
County Taxes
$
$
$
3.
Amounts due Special Districts
$
$
$
4.
Amount due School Districts for School Tax
$
$
$
MUNICIPALITIES ONLY
IMPORTANT !!
This Sheet Must Be Completely Filled in or the Statement Will Be Considered Incomplete
(N.J.S.A. 52:27BB-55 as Amended by Chap. 211, P.L. 1981)
(41,771.00)
3,374.86
-
19,355,292.87
13,548,705.01
19,137,066.75
Answer YES or NO
Answer YES or NO
Unpaid
Total
2024
Answer YES or NO
Sheet 39
2023
(2,899.00)
(44,670.00)
3,374.86
-
-
-
Note:
If no "utility fund" existed on the books of account and if no utility was
owned and operated by the municipality during the year Year 2024, please observe
instructions of Sheet 2.
UTILITIES ONLY
Sheet 40
Debit
Credit
Cash
642,209.14
Investments
Due from - Trust Fund Other
12,307.42
Due from - General Capital Fund
400,000.00
Due from - Water-Sewer Utility Capital Fund
95,109.61
Receivables Offset with Reserves:
Consumer Accounts Receivable
144,668.47
Liens Receivable
-
Deferred Charges (Sheet 48)
Deficit in Operations (Prior Year)
595.27
Cash Liabilities:
Appropriation Reserves
236,474.00
Encumbrances Payable
40,659.67
Accrued Interest on Bonds and Notes
55,437.55
Accounts Payable
28,437.00
Due to Current Fund
655,691.91
Deposits
500.00
Prepaid Water-Sewer Rents
29,602.03
Water-Sewer Rent Overpayments
3,651.60
Subtotal - Cash Liabilities
1,050,453.76
"C"
Reserve for Consumer Accounts and Lien Receivable
144,668.47
Fund Balance
99,767.68
Total
1,294,889.91
1,294,889.91
Title of Account
(Do not crowd - add additional sheets)
Operating and Capital Sections
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Bonds and Notes Authorized but Not Issued must be disclosed in this Utility Capital
POST CLOSING
TRIAL BALANCE - WATER-SEWER UTILITY FUND
AS AT DECEMBER 31, 2024
Section in the same manner as set forth in General Capital Fund on Sheet 8
Sheet 41
Debit
Credit
CAPITAL SECTION:
Est. Proceeds Bonds and Notes Authorized
7,198,541.00
xxxxxxxxx
Bonds and Notes Authorized but Not Issued
xxxxxxxxx
7,198,541.00
CASH
782,537.06
DUE FROM CURRENT FUND
FIXED CAPITAL:
COMPLETED
15,336,516.65
AUTHORIZED AND UNCOMPLETED
18,525,500.00
GRANT RECEIVABLE
74,642.56
DEFERRED CHARGE - OVEREXPENDITURE OF ORDINANCE
63,601.50
PAGE TOTALS
41,981,338.77
7,198,541.00
Operating and Capital Sections
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Title of Account
(Do not crowd - add additional sheets)
Bonds and Notes Authorized but Not Issued must be disclosed in this Utility Capital
POST CLOSING
TRIAL BALANCE - WATER-SEWER UTILITY FUND (cont'd)
AS AT DECEMBER 31, 2024
Section in the same manner as set forth in General Capital Fund on Sheet 8
Sheet 41a
Debit
Credit
PREVIOUS PAGE TOTALS
41,981,338.77
7,198,541.00
BONDS PAYABLE
845,000.00
LOANS PAYABLE
3,533,370.58
CAPITAL LEASES PAYABLE
-
BOND ANTICIPATION NOTES
1,278,000.00
IMPROVEMENT AUTHORIZATIONS:
FUNDED
106,261.51
UNFUNDED
7,036,866.82
ENCUMBRANCES
379,325.12
DUE TO WATER-SEWER OPERATING
RESERVE FOR AMORTIZATION
18,450,515.85
RESERVE FOR DEFERRED AMORTIZATION
1,787,845.44
RESERVE FOR DEBT SERVICE
4,631.21
RESERVE FOR GRANTS
74,642.56
RESERVE FOR N.J. I-BANK ADVANCE
82,272.23
DUE TO - CURRENT FUND
518,451.18
DUE TO - FEDERAL AND STATE GRANT FUND
4,755.80
DUE TO - GENERAL CAPITAL FUND
545,339.66
DUE TO - WATER-SEWER UTILITY OPERATING FUND
95,109.61
DOWN PAYMENTS ON IMPROVEMENTS
200.00
CAPITAL IMPROVEMENT FUND
39,692.95
CAPITAL FUND BALANCE
517.25
TOTALS
41,981,338.77
41,981,338.77
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Title of Account
(Do not crowd - add additional sheets)
Operating and Capital Sections
Bonds and Notes Authorized but Not Issued must be disclosed in this Utility Capital
Section in the same manner as set forth in General Capital Fund on Sheet 8
POST CLOSING
TRIAL BALANCE - WATER-SEWER UTILITY FUND (cont'd)
AS AT DECEMBER 31, 2024
Sheet 41a.1
Debit
Credit
CASH
ASSESSMENT NOTES
-
ASSESSMENT SERIAL BONDS
-
FUND BALANCE
-
TOTALS
-
-
IF MORE THAN ONE UTILITY
EACH ASSESSMENT SECTION MUST BE SEPARATELY STATED
POST CLOSING TRIAL BALANCE -
UTILITY ASSESSMENT TRUST FUNDS
AS AT DECEMBER 31, 2024
Title of Account
(Do not crowd - add additional sheets)
Sheet 42
Audit
Title of Liability to which Cash
Balance
Balance
and Investments are Pledged
Dec. 31, 2023
Assessments
Operating
Disbursements
Dec. 31, 2024
and Liens
Budget
Assessment Serial Bond Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
Assessment Bond Anticipation Note Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
Other Liabilities
-
Trust Surplus
-
Less Assets "Unfinanced"*
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
-
-
-
-
-
-
-
*Show as red figure
ANALYSIS OF WATER-SEWER UTILITY ASSESSMENT TRUST CASH AND INVESTMENTS
PLEDGED TO LIABILITIES AND SURPLUS
RECEIPTS
Sheet 43
Budget
Received
Excess or
in Cash
Deficit*
Operating Surplus Anticipated
48,000.00
48,000.00
-
Operating Surplus Anticipated with Consent of
Director of Local Government
-
Rents
2,830,000.00
2,895,641.12
65,641.12
Miscellaneous
70,000.00
149,341.51
79,341.51
-
-
-
Reserve for Debt Service
-
Capital Fund Balance
Added by N.J.S.A. 40A:4-87:(List)
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
Subtotal
2,948,000.00
3,092,982.63
144,982.63
Deficit (General Budget) **
361,157.00
-
(361,157.00)
3,309,157.00
3,092,982.63
(216,174.37)
** Amount in "Received in Cash" column for "Deficit (General Budget)" and amount expended for "Surplus (General Budget)" must
agree with amounts shown for such items on Sheet 45.
Appropriations:
xxxxxxxxx
Adopted Budget
3,309,157.00
Added by N.J.S.A. 40A:4-87
-
Emergency
-
Total Appropriations
3,309,157.00
Add: Overexpenditures (See Footnote)
-
Total Appropriations and Overexpenditures
3,309,157.00
Deduct Expenditures:
Paid or Charged
2,918,646.10
Reserved
236,474.00
Surplus (General Budget)**
-
Total Expenditures
3,155,120.10
Unexpended Balance Canceled (See Footnote)
154,036.90
FOOTNOTES: - RE: OVEREXPENDITURES:
Every appropriation overexpended in the budget document must be marked with an * and must agree in aggregate with
this item.
RE: UNEXPENDED BALANCES CANCELED:
Are not to be shown as "Paid or Charged" in the budget document. In all instances "Total Appropriations" and
"Overexpenditures" must equal the sum of "Total Expenditures" and "Unexpended Balances Canceled"
Source
SCHEDULE OF WATER-SEWER UTILITY BUDGET - 2024
Sheet 44
BUDGET REVENUES
STATEMENT OF BUDGET APPROPRIATIONS
NOTE: Section 1 of this sheet is required to be filled out ONLY IF the 2024 Water-Sewer Utility Budget contained
either an item of revenue "Deficit (General Budget)" or an item of appropriation "Surplus (General
Budget)"
Section 2 should be filled out in every case.
SECTION 1:
Revenue Realized:
xxxxxxxxx
Budget Revenue (Not Including "Deficit (General Budget)")
3,092,982.63
Miscellaneous Revenue Not Anticipated
2023 Appropriation Reserves Canceled in 2024
176,461.92
Cancelled Water-Sewer Overpayments
7,221.81
Refund of Prior Year Expenditures
1,200.00
Total Revenue Realized
3,277,866.36
Expenditures:
xxxxxxxxx
Appropriations (Not Including "Surplus (General Budget)")
xxxxxxxxx
Paid or Charged
2,918,646.10
Reserved
236,474.00
Expended Without Appropriation
Cash Refund of Prior Year's Revenue
Total Expenditures
3,155,120.10
Less:
Deferred Charges Included in
Above "Total Expenditures"
Total Expenditures - As Adjusted
3,155,120.10
Excess
122,746.26
Budget Appropriation - Surplus (General Budget)**
Balance of Results of 2024 Operation
("Excess in Operations" - Sheet 46)
122,746.26
Deficit
-
Anticipated Revenue - Deficit (General Budget)**
-
Balance of Results of 2024 Operation
("Operating Deficit - to Trial Balance" - Sheet 46)
-
SECTION 2:
The following Item of '2023 Appropriation Reserves Canceled in 2024' is Due to the Current
fund TO THE EXTENT OF the amount received and Due from the General Budget of 2023 for an
Anticipated Deficit in the Water-Sewer Utility for 2023
2023 Appropriation Reserves Canceled in 2024
176,461.92
Less:
-
* Excess (Revenue Realized)
176,461.92
** Items must be shown in same amounts on Sheet 44.
Anticipated Deficit in 2023 Budget - Amount Received and Due
from Current Fund - If none, enter 'None '
STATEMENT OF 2024 OPERATION
WATER-SEWER UTILITY
Remainder =
Remainder =
Sheet 45
Debit
Credit
Excess in Anticipated Revenues
xxxxxxxxx
-
Unexpended Balances of Appropriations
xxxxxxxxx
154,036.90
Miscellaneous Revenues Not Anticipated
xxxxxxxxx
-
Unexpended Balances of 2023 Appropriation Reserves*
xxxxxxxxx
176,461.92
Other
8,421.81
Deficit in Anticipated Revenues
216,174.37
xxxxxxxxx
xxxxxxxxx
Operating Deficit - to Trial Balance
xxxxxxxxx
-
Excess in Operations - to Operating Surplus
122,746.26
xxxxxxxxx
* See restriction in amount on Sheet 45, SECTION 2
338,920.63
338,920.63
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
25,021.42
Excess in Results of 2024 Operations
xxxxxxxxx
122,746.26
Amount Appropriated in the 2024 Budget - Cash
48,000.00
xxxxxxxxx
Amount Appropriated in 2024 Budget with Prior Written
Consent of Director of Local Government Services
Balance - December 31, 2024
99,767.68
xxxxxxxxx
147,767.68
147,767.68
Cash
642,209.14
Investments
Interfund Accounts Receivable
507,417.03
Subtotal
1,149,626.17
Deduct Cash Liabilities Marked with "C" on Trial Balance
1,050,453.76
Operating Surplus Cash or (Deficit in Operating Surplus Cash)
99,172.41
Other Assets Pledged to Surplus:*
595.27
Operating Deficit #
Total Other Assets
595.27
# MAY NOT BE ANTICIPATED AS NON-CASH SURPLUS IN 2024 BUDGET.
99,767.68
*In the case of a "Deficit in Operating Surplus Cash",
"other Assets" would be also pledged to cash liabilities.
RESULTS OF 2024 OPERATIONS - WATER-SEWER UTILITY
Deferred Charges #
OPERATING SURPLUS - WATER-SEWER UTILITY
ANALYSIS OF BALANCE DECEMBER 31, 2024
(FROM WATER-SEWER UTILITY - TRIAL BALANCE)
xxxxxxxxx
Sheet 46
Balance December 31, 2023
$
121,402.84
Increased by:
Rents Levied
$
2,918,906.75
Decreased by:
Collections
$
2,895,641.12
Overpayments applied
$
-
Transfer to Liens
$
-
Other
$
-
$
2,895,641.12
Balance December 31, 2024
$
144,668.47
Balance December 31, 2023
$
Increased by:
Transfers from Accounts Receivable
$
Penalties and Costs
$
Other
$
$
-
Decreased by:
Collections
$
Other
$
$
-
Balance December 31, 2024
$
-
SCHEDULE OF WATER-SEWER UTILITY ACCOUNTS RECEIVABLE
SCHEDULE OF WATER-SEWER UTILITY LIENS
Sheet 47
Amount
Dec. 31, 2023
Amount in
Amount
Balance
per Audit
2024
Resulting
as at
Report
Budget
2024
Dec. 31, 2024
1.
Emergency Authorization -
Municipal*
$
$
$
$
-
2.
$
$
$
$
-
3.
$
$
$
$
-
4.
$
$
$
$
-
5.
$
$
$
$
-
Deficit in Operations
$
595.27
$
-
$
-
$
595.27
Total Operating
$
595.27
$
-
$
-
$
595.27
6.
Overexpenditure of Ordinance
$
63,601.50
$
-
$
-
$
63,601.50
7.
$
$
$
$
-
Total Capital
$
63,601.50
$
-
$
-
$
63,601.50
*Do not include items funded or refunded as listed below.
Amount
1.
$
2.
$
3.
$
4.
$
5.
$
Appropriated for
in Budget of
Date Entered
Amount
2024
1.
$
2.
$
3.
$
4.
$
Sheet 48
JUDGMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED
In Favor of
On Account of
DEFERRED CHARGES
EMERGENCY AUTHORIZATIONS UNDER N.J.S.A. 40A:4-47 WHICH HAVE BEEN
FUNDED OR REFUNDED UNDER N.J.SA.. 40A:2-3 OR N.J.S.A. 40A:2-51
Date
Purpose
- MANDATORY CHARGES ONLY -
WATER-SEWER UTILITY FUND
(Do not include the emergency authorizations pursuant to N.J.S.A. 40A:4-55, listed on Sheet 29)
Caused By
Amount
Not Less Than
Balance
Balance
Authorized
1/5 of Amount
Dec. 31, 2023
By 2024
Canceled
Dec. 31, 2024
Authorized*
Budget
By Resolution
NONE
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Totals
-
-
-
-
-
-
It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S.A. 40A:4-53 et seq. and
are recorded on this page
cfo@hightstownborough.com
Chief Financial Officer
UTILITY SPECIAL EMERGENCY
Purpose
REDUCED IN 2024
Sheet 48a
Date
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Bond Maturities - Assessment Bonds
$
2025 Interest on Bonds
$
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
180,000.00
Outstanding - December 31, 2024
845,000.00
1,025,000.00
2025 Bond Maturities - Capital Bonds
$
2025 Interest on Bonds
$
24,279.90
2025 Interest on Bonds (*Items)
$
24,279.90
Less: Interest Accrued to 12/31/2024 (Trial Balance)
$
8,056.55
Subtotal
$
16,223.35
Add: Interest to be Accrued as of 12/31/2025
$
6,005.05
Required Appropriation 2025
$
2025 Maturity
Interest
Rate
-
Sheet 49
-
Purpose
1,025,000.00
Date of
Issue
Amount Issued
LIST OF BONDS ISSUED DURING 2024
xxxxxxxxx
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR BONDS
WATER-SEWER UTILITY ASSESSMENT BONDS
2025 Debt Service
Credit
xxxxxxxxx
xxxxxxxxx
1,025,000.00
xxxxxxxxx
-
-
WATER-SEWER UTILITY CAPITAL BONDS
INTEREST ON BONDS - WATER-SEWER UTILITY BUDGET
22,228.40
175,000.00
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Principal Savings Credits
2,000.00
Paid
287,503.80
Outstanding - December 31, 2024
3,247,391.58
3,536,895.38
2025 Loan Maturities
$
2025 Interest on Loans
$
42,018.60
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
-
Outstanding - December 31, 2024
285,979.00
285,979.00
2025 Loan Maturities
$
2025 Interest on Loans
$ None
2025 Interest on Loans (*Items)
$
#VALUE!
Less: Interest Accrued to 12/31/2024 (Trial Balance)
$
17,507.75
Subtotal
$
#VALUE!
Add: Interest to be Accrued as of 12/31/2025
$
16,257.72
Required Appropriation 2025
$
2025 Maturity
Interest
Rate
NJ I-Bank Construction Loan
None
NIL
-
3,536,895.38
-
3,536,895.38
Purpose
292,930.17
285,979.00
Date of
Issue
Amount Issued
LIST OF LOANS ISSUED DURING 2024
xxxxxxxxx
xxxxxxxxx
-
xxxxxxxxx
285,979.00
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR LOANS
WATER-SEWER UTILITY NJ I-BANK LOAN LOAN
2025 Debt Service
Credit
285,979.00
WATER-SEWER UTILITY CONSTRUCTION LOAN LOAN
INTEREST ON LOANS - WATER-SEWER UTILITY BUDGET
#VALUE!
1/24/2024
285,979.00
None
xxxxxxxxx
Sheet 49a
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Loan Maturities
$
2025 Interest on Loans
$
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2024
-
-
2025 Loan Maturities
$
2025 Interest on Loans
$
2025 Interest on Loans (*Items)
$
-
Less: Interest Accrued to 12/31/2024 (Trial Balance)
$
Subtotal
$
-
Add: Interest to be Accrued as of 12/31/2025
$
Required Appropriation 2025
$
2025 Maturity
Interest
Rate
-
Purpose
Amount Issued
Date of
Issue
-
LIST OF LOANS ISSUED DURING 2024
WATER-SEWER UTILITY LOAN
xxxxxxxxx
xxxxxxxxx
-
INTEREST ON LOANS - WATER-SEWER UTILITY BUDGET
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2025 DEBT SERVICE FOR LOANS
WATER-SEWER UTILITY LOAN
Credit
2025 Debt Service
xxxxxxxxx
xxxxxxxxx
-
Sheet 49a.1
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest
(Insert Date)
Dec. 31, 2024
1.
17-11 Secondary Clarifier
12/21/2531
12/30/2020
225,165.00
3/25/2025
4.50%
2,923.00
7,571.17
3/25/2025
2.
18-21 Water-Sewer Imp. Lincoln,
3.
Hagemount and Rocky Brook Ct.
6/10/2365
12/30/2020
168,113.00
3/25/2025
4.50%
2,153.00
5,652.80
3/25/2025
4.
19-19 Water-Sewer Improvements
9/19/2132
12/30/2020
79,222.00
3/25/2025
4.50%
5,394.00
2,663.84
3/25/2025
5.
20-06 Drainage Improvements
11/14/4418
9/30/2021
513,000.00
3/25/2025
4.50%
17,249.62
3/25/2025
6.
22-12 Water-Sewer Improvements
1/27/2364
9/27/2023
169,500.00
3/25/2025
4.50%
1,513.00
5,699.44
3/25/2025
7.
8.
23-13 Various Water-Sewer Utility Imps
123,000.00
6/26/2024
123,000.00
3/25/2025
4.50%
4,135.88
3/25/2025
9.
TOTAL
1,698,324.00
1,278,000.00
11,983.00
42,972.75
Important: If there is more than one utility in the municipality, identify each note.
Memo:
Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate
of 20% of the original amount issued annually.
* See Sheet 33 for clarifications of "Original Date of Issue".
All notes with an original date of issue of 2022 or prior require one legally payable installment to be budgeted if
it is contemplated that such notes will be renewed in 2025 or written intent of permanent financing submitted.
** If interest on note is financed by ordinance, designate same, otherwise an amount must be included in this
column.
(Do not crowd - add additional sheets)
Sheet 50
DEBT SERVICE FOR WATER-SEWER UTILITY NOTES (OTHER THAN UTILITY ASSESSMENT NOTES)
2025
Title or Purpose of Issue
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest
(Insert Date)
Dec. 31, 2024
1.
2.
3.
4.
5.
6.
7.
8.
9.
TOTAL
1,698,324.00
1,278,000.00
11,983.00
42,972.75
Important: If there is more than one utility in the municipality, identify each note.
Memo:
Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate
2025 Interest on Notes
$
42,972.75
of 20% of the original amount issued annually.
Less: Interest Accrued to 12/31/2024 (Trial Balance)
$
29,873.25
* See Sheet 33 for clarifications of "Original Date of Issue".
Subtotal
$
13,099.50
All notes with an original date of issue of 2022 or prior require one legally payable installment to be budgeted if
Add: Interest to be Accrued as of 12/31/2025
$
45,514.80
it is contemplated that such notes will be renewed in 2025 or written intent of permanent financing submitted.
Required Appropriation 2025
$
58,614.30
** If interest on note is financed by ordinance, designate same, otherwise an amount must be included in this
column.
(Do not crowd - add additional sheets)
INTEREST ON NOTES - WATER-SEWER UTILITY BUDGET
DEBT SERVICE FOR WATER-SEWER UTILITY NOTES (OTHER THAN UTILITY ASSESSMENT NOTES)
Sheet 50
Title or Purpose of Issue
2025
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest
(Insert Date)
Dec. 31, 2024
**
-
-
-
-
Important: If there is more than one utility in the municipality, identify each note.
MEMO:* See Sheet 33 for clarification of "Original Date of Issue"
Utility Assessment Notes with an original date of issue of December 31, 2022 or prior must be appropriated in full in the 2026 Dedicated Utility Assessment Budget or written intent of
permanent financing submitted.
** Interest on Utility Assessment Notes must be included in the Utility Fund Budget appropriation "Interest on Notes".
DEBT SERVICE SCHEDULE FOR WATER-SEWER UTILITY ASSESSMENT NOTES
Sheet 51
Title or Purpose of Issue
2025
Amount
Lease Obligation Outstanding
Dec. 31, 2024
For Prinicpal
For Interest/Fees
Total
-
-
-
SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS WATER-SEWER UTILITY
Sheet 51a
Purpose
2025 Budget Requirements
2024
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
09-15 Water Main Extension
5,190.12
3,750.00
-
5,190.12
3,750.00
11-03 Water-Sewer Improvements
3,236.48
4,365.00
4,365.00
3,236.48
11-04 Refurbishment of Water Tanks
15,000.00
-
15,000.00
12-14 Mitigation Water Plant/Roof Replacement
41,532.53
-
41,532.53
13-19 Water-Sewer Imps - Grape Run Rd
-
and Pershing Ave.
6,801.19
6,000.00
-
6,801.19
6,000.00
16-14 Improvements to Water-Sewer Plants
27,327.67
226,398.00
3,025.00
3,025.00
27,327.67
226,398.00
17-10/19-09 Water Mains, Sewer Imp
Stockton, Forman, and First Ave.
277,161.69
10,799.48
266,362.21
17-11 Secondary Clarifier
19,949.18
-
19,949.18
17-16 Water-Sewer Imp. Maple Ave. Sunset Dr.
102,151.00
-
102,151.00
18-21 Water-Sewer Imp. Lincoln, Hagemount
-
and Rocky Brook Ct.
59,769.05
215.73
59,553.32
19-19 Various Water-Sewer Improvements
24,058.28
-
24,058.28
20-06/21-08 Drainage Improvements
459,105.69
2,848.24
456,257.45
20-16 Various Water-Sewer Improvements
47,598.06
47,598.06
-
21-03 Water-Sewer Improvements - Hauser,
Bennet, Prospect, Railroad and Dey
566,255.12
504,819.87
61,435.25
PAGE TOTALS
95,851.51
1,795,432.55
-
-
573,671.38
7,390.00
95,851.51
1,229,151.17
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER-SEWER (UTILITY CAPITAL FUND)
Sheet 52
IMPROVEMENTS
Specify each authorization by purpose. Do
not merely designate by a code number.
Balance - January 1, 2024
Balance - December 31, 2024
2024
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
95,851.51
1,795,432.55
-
-
573,671.38
7,390.00
95,851.51
1,229,151.17
22-07 Water Tank Painting and Repairs
595,293.15
5,938.69
589,354.46
22-12 Various Water-Sewer Improvements
308,063.62
309,873.75
1,910.00
99.87
22-22 Water Meters Replacements and Upgrades
to Water-Sewer Utility
2,650.00
58,245.00
58,045.00
2,450.00
23-03 Water-Sewer Imps to Maxwell Ave.
1,289,400.00
8,896.25
1,280,503.75
23-05 Improvements to Sludge Tank and Drywell
1,608,410.00
18,298.75
1,590,111.25
23-06 Replacement of Water-Sewer Lines
4,400.00
100,000.00
-
4,400.00
100,000.00
23-07 Engineer Costs for the Lead Line Water
-
Service Replacement
94,982.02
94,982.02
23-09 Improvements to the Anaerobic Digester
495,210.00
405.00
494,805.00
23-13 Various Water-Sewer Improvements
68,300.00
102,390.70
42,400.00
8,309.30
23-23 Rebuilding of the Rotopress
5,700.00
112,300.00
600.00
5,100.00
112,300.00
24-05 Water-Sewer Imps to Summit Street
1,345,000.00
600.00
1,344,400.00
24-13 Acq of a Closed Circuit TV System for
Water-Sewer Utility
28,000.00
28,000.00
-
24-17 Repl of Water Main at the
Water Treatment Plant
200,000.00
8,690.00
910.00
190,400.00
PAGE TOTALS
105,951.51
6,470,041.34
1,573,000.00
-
1,115,609.52
109,745.00
106,261.51
7,036,866.82
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 52.1
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER-SEWER (UTILITY CAPITAL FUND)
Balance - January 1, 2024
Balance - December 31, 2024
IMPROVEMENTS
Specify each authorization by purpose. Do
2024
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
105,951.51
6,470,041.34
1,573,000.00
-
1,115,609.52
109,745.00
106,261.51
7,036,866.82
PAGE TOTALS
105,951.51
6,470,041.34
1,573,000.00
-
1,115,609.52
109,745.00
106,261.51
7,036,866.82
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 52.2
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER-SEWER (UTILITY CAPITAL FUND)
Balance - January 1, 2024
Balance - December 31, 2024
IMPROVEMENTS
Specify each authorization by purpose. Do
2024
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
105,951.51
6,470,041.34
1,573,000.00
-
1,115,609.52
109,745.00
106,261.51
7,036,866.82
PAGE TOTALS
105,951.51
6,470,041.34
1,573,000.00
-
1,115,609.52
109,745.00
106,261.51
7,036,866.82
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 52.3
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER-SEWER (UTILITY CAPITAL FUND)
Balance - January 1, 2024
Balance - December 31, 2024
IMPROVEMENTS
Specify each authorization by purpose. Do
2024
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
105,951.51
6,470,041.34
1,573,000.00
-
1,115,609.52
109,745.00
106,261.51
7,036,866.82
TOTALS
105,951.51
6,470,041.34
1,573,000.00
-
1,115,609.52
109,745.00
106,261.51
7,036,866.82
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 52.4
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER-SEWER (UTILITY CAPITAL FUND)
Balance - January 1, 2024
Balance - December 31, 2024
IMPROVEMENTS
Specify each authorization by purpose. Do
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
30,692.95
Received from 2024 Budget Appropriation
xxxxxxxxx
20,000.00
xxxxxxxxx
Improvement Authorizations Canceled
(financed in whole by the Capital Improvement Fund)
List by Improvements - Direct Charges Made for Preliminary Costs:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
11,000.00
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2024
39,692.95
xxxxxxxxx
50,692.95
50,692.95
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
200.00
Received from 2024 Budget Appropriation*
xxxxxxxxx
Received from 2024 Emergency Appropriation*
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2024
200.00
xxxxxxxxx
200.00
200.00
*The full amount of the 2024 budget appropriation should be transferred to this account unless the balance
of the appropriation is to be permitted to lapse.
WATER-SEWER UTILITY CAPITAL FUND
SCHEDULE OF CAPITAL IMPROVEMENT FUND
WATER-SEWER UTILITY CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
xxxxxxxxx
Sheet 53
Amount of Down
Amount
Total
Down Payment
Payment in Budget
Appropriated
Obligations
Provided by
of 2024 or
Authorized
Ordinance
Prior Years
Ord. 24-05
Water-Sewer Imps to Summit St.
1,345,000.00
1,345,000.00
-
-
Ord. 24-13
Acq of a Closed Circuit TV Sys for
Water-Sewer Utility
28,000.00
26,600.00
1,400.00
-
Ord. 24-17
Replacement of Water Main at the
Water Treatment Plant
200,000.00
190,400.00
9,600.00
-
1,573,000.00
1,562,000.00
11,000.00
-
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
5.72
Premium on Sale of Bonds
xxxxxxxxx
Funded Improvement Authorizations Canceled
xxxxxxxxx
Premium on Sale of Notes
511.53
Appropriated to Finance Improvement Authorization
xxxxxxxxx
Appropriation to 2024 Budget Reserve
xxxxxxxxx
Balance - December 31, 2024
517.25
xxxxxxxxx
517.25
517.25
WATER-SEWER UTILITY FUND
WATER-SEWER UTILITY CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
2024
Sheet 54
CAPITAL IMPROVEMENTS AUTHORIZED IN 2024
AND DOWN PAYMENTS (N.J.S.A. 40A:2-11)
Purpose
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"...FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2025
MUNICIPALITIES - FEBRUARY 10, 2025..."
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