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Executive Summary
The document is the Annual Financial Statement for the year 2023 (unaudited) for the Township of Little Egg Harbor, County of Ocean. It includes various financial schedules, trial balances for different funds (Current, Public Assistance, Trust, General Capital), and reconciliations of cash and investments. The statement is required to be filed under New Jersey Statutes Annotated 40A:5-12, as amended, and is combined with information needed prior to the certification of budgets by the Director of the Division of Local Government Services. The financial statement was certified on 7/22/2024.
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Document Text
--- Document: 2023 Annual Financial Statement Document ---
POPULATION LAST CENSUS
NET VALUATION TAXABLE 2023
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, 2023, 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, 2023.
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.
DO NOT USE THESE SPACES
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2023
(UNAUDITED)
FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2024
20,784
1516
2,371,082,098
MUNICIPALITIES - FEBRUARY 10, 2024
OCEAN
LITTLE EGG HARBOR
TOWNSHIP
Rodney R. Haines
Examined By:
Preliminary Check
LITTLE EGG HARBOR
OCEAN
TOWNSHIP
Examined
Rhaines@leht.com
DMFO
RODNEY HAINES
N-1714
CMFO
665 RADIO ROAD
Sheet 1
609-294-3040
609-294-3040
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, 2023 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, 2023 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
day
, 2024
Sheet 1a
(Address)
(Address)
(Phone Number)
(Fax Number)
(Firm Name)
LITTLE EGG HARBOR
TOWNSHIP
NO ENTRY
(Registered Municipal Accountant)
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 2024.
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:
Sheet 1b
CERTIFICATION OF NON-QUALIFYING MUNICIPALITY
TOWNSHIP OF LITTLE EGG HARBOR
Rodney R, Haines
N1714
Rodney R. Haines
TOWNSHIP OF LITTLE EGG HARBOR
7/22/2024
MUNICIPAL BUDGET LOCAL EXAMINATION QUALIFICATION CERTIFICATION
BY
CHIEF FINANCIAL OFFICER
CERTIFICATION OF QUALIFYING MUNICIPALITY
N-1714
Rhaines@leht.com
Rhaines@leht.com
7/22/2024
Fiscal Year Ending:
(1)
(3)
Federal programs
Expended
Other Federal
(administered by
Programs
the state)
Expended
$
$
$
Type of Audit required by Title 2 U.S. Code of Federal Regulations
(CFR) (Uniform Requirements) and OMB 15-08.
x
Single Audit
Program Specific Audit
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.
Date
Sheet 1c
December 31, 2023
(2)
Programs
Expended
State
Rhaines@leht.com
Signature of Chief Financial Officer
TOTAL
Report of Federal and State Financial Assistance
Expenditures of Awards
21-0732629
Fed I.D. #
TOWNSHIP OF LITTLE EGG HARBOR
Municipality
OCEAN
County
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 2023 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 2024 and filed with the County Board of Taxation on January 10, 2024 in accordance
with the requirement of N.J.S.A. 54:4-35, was in the amount of $
IMPORTANT !
READ INSTRUCTIONS
MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2023
LITTLE EGG HARBOR
SIGNATURE OF TAX ASSESSOR
OCEAN
TOWNSHIP
Rodney R. Haines
CMFO
Mjohnson@leht.com
Sheet 2
MUNICIPALITY
OCEAN
TOWNSHIP OF LITTLE EGG HARBOR
COUNTY
Debit
Credit
CASH
9,960,707.43
INVESTMENTS
DUE FROM/TO STATE - VETERANS AND SENIOR CITIZENS
212,414.68
-
Receivables with Full Reserves:
TAXES RECEIVABLE:
PRIOR
44,807.45
CURRENT
10,964.74
SUBTOTAL
55,772.19
TAX TITLE LIENS RECEIVABLE
827,995.47
PROPERTY ACQUIRED FOR TAXES
5,757,700.00
CONTRACT SALES RECEIVABLE
-
MORTGAGE SALES RECEIVABLE
-
REVENUE ACCOUNTS RECEIVABLE
5,210.76
DUE FROM TRUST
35,526.39
DUE FROM PAYROLL
87,193.37
DUE FROM GENERAL CAPITAL
943,106.20
DEFERRED CHARGES:
EMERGENCY
SPECIAL EMERGENCY (40A:4-55)
-
DEFICIT
-
EXPENDITURE WITHOUT APPROPRIATION
APPROPRIATION RESERVE OVEREXPENDITURE
Page Totals:
17,885,626.49
-
(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, 2023
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
Debit
Credit
TOTALS FROM PAGE 3
17,885,626.49
-
APPROPRIATION RESERVES
692,363.55
ENCUMBRANCES PAYABLE
178,971.50
CONTRACTS PAYABLE
21,356.61
TAX OVERPAYMENTS
191,307.45
PREPAID TAXES
846,848.12
RESERVE FOR MUNICIPAL RELIEF FUND
67,809.86
DUE TO STATE:
MARRIAGE LICENCE
DCA TRAINING FEES
12,448.30
LOCAL SCHOOL TAX PAYABLE
2,533,805.00
REGIONAL SCHOOL TAX PAYABLE
-
REGIONAL H.S.TAX PAYABLE
-
COUNTY TAX PAYABLE
-
DUE COUNTY - ADDED & OMMITTED
79,072.69
SPECIAL DISTRICT TAX PAYABLE
-
RESERVE FOR TAX APPEAL
-
837,256.99
994,326.72
465,359.03
2,716.40
79,541.49
RESERVE INSURANCE PROCEEDS
2,419.00
RESERVE FOR REASSESSMENT
100,047.00
RESERVE FOR CLOSED ESCROW ACCOUNTS
54,052.92
RESERVE FOR RETAIL MERCANTILE LICENSE
350.00
RESERVE FOR FEMA PROCEEDS
3,722.78
RESERVE FOR LIQUOR LICENSE DEPOSIT
904,100.00
PAGE TOTAL
17,885,626.49
8,067,875.41
(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, 2023
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
Title of Account
DUE TO GRANT FUND
DUE TO PAYROLL
DUE TO TRUST ASSESSMENT
DUE TO OPEN SPACE TRUST
DUE TO CAPITAL
DUE TO BASS RIVER - CONSTRUCTION FEES
RESRVE FOR NATIONAL OPIOD SETTLEMENT
Debit
Credit
TOTALS FROM PAGE 3a
17,885,626.49
8,067,875.41
SUBTOTAL
17,885,626.49
8,067,875.41
"C"
RESERVE FOR RECEIVABLES
7,712,504.38
DEFERRED SCHOOL TAX
5,236,297.00
DEFERRED SCHOOL TAX PAYABLE
5,236,297.00
FUND BALANCE
2,105,246.70
TOTALS
23,121,923.49
23,121,923.49
(Do not crowd - add additional sheets)
Sheet 3a.1
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, 2023
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
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, 2023
Debit
Credit
CASH
128,332.39
GRANTS RECEIVABLE
2,847,177.29
DUE FROM/TO CURRENT FUND
837,256.99
DUE FROM/TO GENERAL CAPITAL FUND
601,951.13
ENCUMBRANCES PAYABLE
92,329.59
APPROPRIATED RESERVES
2,968,051.00
UNAPPROPRIATED RESERVES
150,434.95
TOTALS
3,812,766.67
3,812,766.67
Title of Account
(Do not crowd - add additional sheets)
Sheet 5
POST CLOSING TRIAL BALANCE
FEDERAL AND STATE GRANTS
AS AT DECEMBER 31, 2023
Debit
Credit
ANIMAL CONTROL TRUST FUND
CASH
-
DUE TO -
DUE TO STATE OF NJ
RESERVE FOR ANIMAL CONTROL TRUST FUND
FUND TOTALS
-
-
ASSESSMENT TRUST FUND
CASH
54,096.41
DUE TO -
CAPITAL FUND
137,509.28
DUE TO CURRENT FUND
994,326.72
ASSESSMENTS RECEIVABLE
1,854,254.08
RESERVE FOR:
PROSPECTIVE ASSESSMENT FUNDED
140,167.93
ASSESSMENT BONDS PAYABLE
2,625,000.00
FUND TOTALS
2,902,677.21
2,902,677.21
MUNICIPAL OPEN SPACE TRUST FUND
CASH
1,227,167.16
DUE FROM CURRENT FUND
465,359.03
RESERVE FOR OPEN SPACE TRUST
1,642,165.91
DUE TO CAPITAL FUND
50,360.28
FUND TOTALS
1,692,526.19
1,692,526.19
LOSAP TRUST FUND
CASH
-
FUND TOTALS
-
-
Title of Account
Sheet 6
POST CLOSING
TRIAL BALANCE - TRUST FUNDS
AS AT DECEMBER 31, 2023
(Assessment Section Must Be Separately Stated)
(Do not crowd - add additional sheets)
Debit
Credit
CDBG TRUST FUND
CASH
-
DUE TO -
FUND TOTALS
-
-
ARTS AND CULTURAL TRUST FUND
CASH
-
FUND TOTALS
-
-
OTHER TRUST FUNDS
CASH
2,362,335.76
OTHER TRUST FUNDS PAGE TOTAL
2,362,335.76
-
Title of Account
(Do not crowd - add additional sheets)
Sheet 6.1
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
AS AT DECEMBER 31, 2023
(Assessment Section Must Be Separately Stated)
Debit
Credit
Previous Totals
2,362,335.76
-
OTHER TRUST FUNDS (continued)
RESERVE FOR TAX SALE CERTIFICATES
606,275.87
RESERVE FOR ESCROW DEPOSITS
1,420,029.88
RESERVE FOR FORFEITED PROPERTY
64,137.40
RESERVE FOR RECREATION
2,057.05
RESERVE FOR COMMUNITY CENTER
4,276.48
RESERVE FOR FEDERAL FORFEITURE FUNDS
10,932.14
RESERVE FOR SICK AND VACATION TRUST
12,901.01
RESERVE FOR COAH FUNDS
174,687.74
RESERVE FOR POLICE EQUIPMENT DONATIONS
12,601.00
RESERVE FOR DIV OF FIRE SAFETY - DEDICATED PENALTY
10,000.00
RESERVEFOR POLICE EVIDENCE DEPOSITS
3,352.80
RESERVE FOR VETERANS PARK
4,910.00
RESERVE FOR POAA FUNDS
648.00
DUE TO CURRENT - TRUST
13,074.79
DUE TO CURRENT ESCROW
22,451.60
TOTALS
2,362,335.76
2,362,335.76
Sheet 6.2
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
(Assessment Section Must Be Separately Stated)
AS AT DECEMBER 31, 2023
Title of Account
(Do not crowd - add additional sheets)
Debit
Credit
Previous Totals
2,362,335.76
2,362,335.76
OTHER TRUST FUNDS (continued)
TOTALS
2,362,335.76
2,362,335.76
Sheet 6. TOTALS
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
(Assessment Section Must Be Separately Stated)
AS AT DECEMBER 31, 2023
Title of Account
(Do not crowd - add additional sheets)
Amount
Dec. 31, 2022
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2023
RESERVE FOR TAX SALE CERTIFICA
1,592,166.91
985,891.04
606,275.87
RESERVE FOR ESCROW DEPOSITS
1,679,428.38
442,996.29
702,394.79
1,420,029.88
RESERVE FOR FORFEITED PROPER
66,855.93
5,699.44
8,417.97
64,137.40
-
RESERVE FOR RECREATION
2,057.05
2,057.05
RESERVE FOR COMMUNITY CENTER
3,582.88
3,474.84
2,781.14
4,276.58
RESERVE FOR FEDERAL FORFEITU
23,266.17
318.48
12,652.51
10,932.14
RESERVE FOR SICK AND VACATION
11,013.78
275,000.00
273,112.77
12,901.01
RESERVE FOR COAH FUNDS
159,967.09
53,899.65
39,179.00
174,687.74
-
RESERVE FOR POLICE EQUIPMENT
12,601.00
12,601.00
RESERVEFOR POLICE EVIDENCE DE
3,352.80
3,352.80
RESERVE FOR VETERANS PARK
4,910.00
4,910.00
RESERVE FOR POAA FUNDS
648.00
648.00
RESERVE FOR FIRE SAFETY - DEDIC
10,000.00
10,000.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
3,557,248.99
$
793,989.70
$
2,024,429.22
$
2,326,809.47
Sheet 6b
Purpose
SCHEDULE OF TRUST FUND RESERVES
Amount
Dec. 31, 2022
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2023
PREVIOUS PAGE TOTAL
3,557,248.99
793,989.70
2,024,429.22
2,326,809.47
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
3,557,248.99
$
793,989.70
$
2,024,429.22
$
2,326,809.47
Sheet 6b TOTAL
SCHEDULE OF TRUST FUND RESERVES (CONT'D)
Purpose
Audit
Title of Liability to which Cash
Balance
Balance
and Investments are Pledged
Dec. 31, 2022
Assessments
Current
Disbursements
Dec. 31, 2023
and Liens
Budget
Assessment Serial Bond Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
2021 Assessment Bonds
3,000,000.00
375,000.00
2,625,000.00
-
-
-
-
Assessment Bond Anticipation Note Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
Due to Capital Fund
137,509.28
137,509.28
Prospective Assessments Funded
211,619.51
26,048.42
97,500.00
140,167.93
Other Liabilities
-
Trust Surplus
-
*Less Assets "Unfinanced"
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Assessments receivable
(2,253,649.06)
399,394.98
(1,854,254.08)
Due from Current Fund
(1,041,383.32)
47,056.60
(994,326.72)
-
-
54,096.41
472,500.00
-
-
-
-
472,500.00
54,096.41
*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
12,081,910.05
xxxxxxxxx
Bonds and Notes Authorized but Not Issued
xxxxxxxxx
12,081,910.05
CASH
225,255.25
DUE FROM GRANT FUND
601,951.13
DUE FROM -TRUST ASSESSMENT
137,509.28
DUE FROM/TO - CURRENT
943,106.20
DUE FROM OPEN SPACE TRUST
50,360.28
DEFERRED CHARGES TO FUTURE TAXATION:
FUNDED
21,699,215.95
UNFUNDED
18,499,160.05
FEDERAL AND STATE GRANTS RECEIVABLE
DUE TO - OCEAN COUNTY DCBG
3,722.00
PROSPECTIVE ASSESSMENT TO BE RAISED BY TAXATION
10,075,000.00
PAGE TOTALS
63,370,361.99
13,028,738.25
Title of Account
(Do not crowd - add additional sheets)
Sheet 8
POST CLOSING
TRIAL BALANCE -- GENERAL CAPITAL FUND
AS AT DECEMBER 31, 2023
Debit
Credit
PREVIOUS PAGE TOTALS
63,370,361.99
13,028,738.25
BOND ANTICIPATION NOTES PAYABLE
6,417,250.00
GENERAL SERIAL BONDS
18,155,000.00
TYPE 1 SCHOOL BONDS
-
LOANS PAYABLE
3,544,215.95
CAPITAL LEASES PAYABLE
-
RESERVE FOR CAPITAL PROJECTS
10,075,000.00
IMPROVEMENT AUTHORIZATIONS:
FUNDED
575,279.27
UNFUNDED
11,270,088.01
ENCUMBRANCES PAYABLE
15,480.95
RESERVE TO PAY BANS
CAPITAL IMPROVEMENT FUND
128,544.00
DOWN PAYMENTS ON IMPROVEMENTS
-
157,579.03
CAPITAL FUND BALANCE
3,186.53
63,370,361.99
63,370,361.99
Sheet 8.1
POST CLOSING
TRIAL BALANCE -- GENERAL CAPITAL FUND
AS AT DECEMBER 31, 2023
Title of Account
(Do not crowd - add additional sheets)
RESERVE FOR PROSPECTIVE ASSESSMENT TO BE
RAISED BBY TAXATION
RESERVE TO PAY DEBT
Less Checks
Cash Book
*On Hand
On Deposit
Outstanding
Balance
649,966.76
10,314,348.21
1,003,607.54
9,960,707.43
134,407.79
6,075.40
128,332.39
-
-
-
54,096.41
54,096.41
1,227,167.16
1,227,167.16
-
-
2,500,710.68
138,374.92
2,362,335.76
-
977,665.85
752,410.60
225,255.25
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total
649,966.76
15,208,396.10
1,900,468.46
13,957,894.40
* 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, 2023.
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, 2023.
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:
CASH RECONCILIATION DECEMBER 31, 2023
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:
CMFO
Grant Fund
Rhaines@leht.com
OceanFirst Bank
xxx2678
Capital Fund
977,665.85
xxx3106
Developers Escrow
812,956.10
xxx2744
Dedicated Sick and Vacation Trust
12,901.01
xxx2686
Affordable Housing Trust
174,687.74
xxx2801
Open Space Trust
1,227,167.16
xxx2694
Community Center Trust
4,276.58
xxx2702
Escrow
23,266.41
xxx2777
Trust
578,445.98
xxx2736
Recreation Trust
2,057.05
xxx2835
Federal Forefeit
11,867.04
xxx2843
Special Law Enforcement Trust
64,137.40
xxx3015
Cell Tower Escrow
209,839.50
xxx2793
TTL
606,275.87
xxx2785
Trust Assessment
54,096.41
xxx2769
Treasurer
2,418,776.42
xxx2751
Collector
7,895,571.79
xxx2728
Grant
134,407.79
PAGE TOTAL
15,208,396.10
Sheet 9a
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
CASH RECONCILIATION DECEMBER 31, 2023 (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.
PREVIOUS PAGE TOTAL
15,208,396.10
TOTAL PAGE
15,208,396.10
CASH RECONCILIATION DECEMBER 31, 2023 (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
2023
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2023
Revenue
Dec. 31, 2023
Realized
NJOEM Grant
6,203.35
6,203.35
CDBG - 2015
19,226.71
19,226.71
966 REIMBURSEMENT
9,376.42
9,376.42
Neighborhood Community Revitalization Grant
2,464.22
2,464.22
Child Restraint Grant
2,500.00
2,500.00
Bulletproof Vest Partnership Grant
6,207.81
6,207.81
NJDEP Living Shore Grant
127,213.36
42,110.25
85,103.11
NJOEM Grant
638.49
638.49
Post Sandy Planning Assistance Grant
93,854.18
93,854.18
Safe and Secure Communities
32,400.00
32,400.00
50,511.00
14,289.00
NJDOT - Sea Breeze
86,975.00
86,975.00
NJ Clean Smart Start Program \
283,800.00
283,800.00
Sustainable Jersey Small Grant
2,500.00
2,500.00
American Rescue Plan
-
CDBG 2020
35,000.00
35,000.00
-
Recycling Tonnage
-
NJDOT - Stage Road
405,000.00
303,750.00
101,250.00
Local Recreation Grant
75,000.00
75,000.00
-
-
PAGE TOTALS
1,188,359.54
32,400.00
506,371.25
-
-
714,388.29
MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE
Sheet 10
Grant
2023
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2023
Revenue
Dec. 31, 2023
Realized
PREVIOUS PAGE TOTALS
1,188,359.54
32,400.00
506,371.25
-
-
714,388.29
BODY WORN CAMERA GRANT
101,900.00
61,140.00
40,760.00
CLEAN COMMUNITIES
56,108.30
56,108.30
-
NJ BODY ARMOR GRANT
3,200.84
3,200.84
-
BODY ARMOR GRANT
2,688.00
2,688.00
-
RECYCLING TONNAGE GRANT
31,839.12
31,839.12
-
STORMWATER ASSISTANCE GRANT
25,000.00
15,000.00
10,000.00
LOCAL RECREATION GRANT 2023
70,000.00
70,000.00
COMCAST FRANCHISE RENEWAL GRANT
116,500.00
116,500.00
-
FY22 PATRICK LEHY BULLETPROOF VEST GRANT
8,589.00
8,589.00
FY22 SRTS GRANT
815,000.00
815,000.00
OCEAN WIND GRANT
719,250.00
719,250.00
CLEAN COMMUNITIES GRANT
64,812.93
64,812.93
-
NJDOT - OAK LANE
460,390.00
460,390.00
LEAD GRANT ASSISTANCE PROGRAM
8,800.00
8,800.00
-
-
-
-
PAGE TOTALS
1,188,359.54
2,516,478.19
857,660.44
-
-
2,847,177.29
MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE (cont'd)
Sheet
10.1
Grant
2023
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2023
Revenue
Dec. 31, 2023
Realized
PREVIOUS PAGE TOTALS
1,188,359.54
2,516,478.19
857,660.44
-
-
2,847,177.29
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TOTALS
1,188,359.54
2,516,478.19
857,660.44
-
-
2,847,177.29
MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE (cont'd)
Grant
Sheet 10
Totals
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
Alcohol Education & Rehabilitation
1,631.95
1,631.95
NJOEM
20.95
20.95
DDEF
497.95
497.95
-
NJ Municipal Aid - 2014
188,119.25
188,119.25
Recycling Tonnage
35,920.75
9,022.54
26,898.21
Local Recreation Grant
75,000.00
75,000.00
-
Child Restraint Grant
2,500.00
2,500.00
Safe and Secure Communities
44,940.00
32,400.00
77,340.00
966 Reimbursement
15,582.77
15,582.77
Coastal Zone Management
2,211.97
2,211.97
Municipal Access Plan
15,000.00
15,000.00
Post Sandy Planning Assistance
48,073.26
48,073.26
NJDEP Living Shoreline
40,879.38
40,011.45
867.93
Department of Justice Grant
625.25
625.25
NJDOT Iowa Court
12,048.32
12,048.32
-
Clean Communities 2019
45,732.86
42,039.80
3,693.06
-
PAGE TOTALS
528,784.66
32,400.00
-
166,073.79
-
-
395,110.87
Sheet
11
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Grant
Transferred from 2023
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
528,784.66
32,400.00
-
166,073.79
-
-
395,110.87
NJOEM Grant
638.49
638.49
Body Armor Grant 2020
1,880.32
1,194.20
686.12
Safe and Secure Comm
5,400.00
5,400.00
Clean Communities - 2020
52,720.73
52,720.73
Safe and Secure Communities 2021
-
NJDOT - Sea Breeze
0.45
0.45
-
Recycling Tonnage
-
NJ Clean Smart Start Program \
283,800.00
283,800.00
Sustainable Jersey Small Grant
5,000.00
5,000.00
Body Worn Camera Grant
12,744.00
101,900.00
3,402.14
48,179.00
63,062.86
NJDOT Stage Road
405,000.00
405,000.00
-
American Rescue Plan
1,370,491.83
1,320,491.83
50,000.00
National Wildlife Refuge
4,670.00
4,670.00
CDBG 2014
31,062.15
31,062.15
-
CDBG 2015
30,493.42
30,493.42
CDBG 2020
35,000.00
35,000.00
-
-
PAGE TOTALS
2,767,686.05
134,300.00
-
1,931,161.96
-
48,179.45
922,644.64
Sheet
11.1
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
2,767,686.05
134,300.00
-
1,931,161.96
-
48,179.45
922,644.64
Refuge Revenue Sharing Act
2,202.00
2,202.00
-
-
BODY WORN CAMERA GRANT
-
CLEAN COMMUNITIES
56,108.30
56,108.30
NJ BODY ARMOR GRANT
3,200.84
3,200.84
BODY ARMOR GRANT
2,688.00
2,688.00
RECYCLING TONNAGE GRANT
31,839.12
31,839.12
STORMWATER ASSISTANCE GRANT
25,000.00
25,000.00
LOCAL RECREATION GRANT 2023
70,000.00
70,000.00
COMCAST FRANCHISE RENEWAL GRANT
116,500.00
116,500.00
-
FY22 PATRICK LEHY BULLETPROOF VEST GRANT
8,589.00
8,589.00
-
FY22 SRTS GRANT
815,000.00
815,000.00
OCEAN WIND GRANT
719,250.00
213,884.83
505,365.17
CLEAN COMMUNITIES GRANT
64,812.93
64,812.93
NJDOT - OAK LANE
460,390.00
460,390.00
LEAD GRANT ASSISTANCE PROGRAM
8,800.00
8,800.00
-
PAGE TOTALS
2,769,888.05
2,516,478.19
-
2,270,135.79
-
48,179.45
2,968,051.00
Sheet
11.2
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
2,769,888.05
2,516,478.19
-
2,270,135.79
-
48,179.45
2,968,051.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TOTALS
2,769,888.05
2,516,478.19
-
2,270,135.79
-
48,179.45
2,968,051.00
Sheet 11
Totals
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Balance
Received
Other
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
-
-
-
-
-
-
Department of Justince Grant
3,245.00
3,245.00
Recycling Tonnage Grant
31,839.12
31,839.12
37,602.06
37,602.06
AERF
250.06
250.06
State of NJ Body Armor
5,225.99
3,200.84
2,025.15
Body Worn Camera Grant
61,140.00
61,140.00
-
Clean Communities
113,893.39
56,108.30
57,785.09
Body Armor
5,551.56
2,688.00
2,863.56
Clean Communities 2022
-
Bulletproof Vest Program 2022
3,540.00
3,540.00
Comcast Grant
116,500.00
116,500.00
-
County Recycling Residual Revenue
39,808.55
39,808.55
Body Armor 2023
3,315.48
3,315.48
-
-
-
-
-
-
TOTALS
380,993.67
271,476.26
-
40,917.54
-
150,434.95
Sheet 12
Totals
SCHEDULE OF UNAPPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
2,256,061.98
School Tax Deferred
(Not in excess of 50% of Levy - 2022 - 2023)
xxxxxxxxxxx
5,236,297.00
Levy School Year July 1, 2023 - June 30, 2024
xxxxxxxxxxx
Levy Calendar Year 2023
xxxxxxxxxxx
14,883,524.00
Paid
14,605,780.98
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
2,533,805.00
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
5,236,297.00
xxxxxxxxxx
* Not including Type 1 school debt service, emergency authorizations-schools, transfer to
22,375,882.98
22,375,882.98
Board of Education for use of local schools.
# Must include unpaid requisitions.
Sheet 13
*LOCAL DISTRICT SCHOOL TAX
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2022 - 2023)
xxxxxxxxxxx
Levy School Year July 1, 2023 - June 30, 2024
xxxxxxxxxxx
18,109,882.00
Levy Calendar Year 2023
xxxxxxxxxxx
Paid
18,109,882.00
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
-
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
xxxxxxxxxx
# Must include unpaid requisitions.
18,109,882.00
18,109,882.00
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2022 - 2023)
xxxxxxxxxxx
Levy School Year July 1, 2023 - June 30, 2024
xxxxxxxxxxx
Levy Calendar Year 2023
xxxxxxxxxxx
Paid
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
-
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
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, 2023
xxxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxxx
Due County for Added and Omitted Taxes
xxxxxxxxxxx
2023 Levy:
xxxxxxxxxxx
xxxxxxxxxx
General County
xxxxxxxxxxx
9,897,244.09
County Library
xxxxxxxxxxx
936,891.49
County Health
xxxxxxxxxxx
543,489.70
County Open Space Preservation
xxxxxxxxxxx
393,256.81
Due County for Added and Omitted Taxes
xxxxxxxxxxx
79,072.69
Paid
11,770,882.09
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxx
Due County for Added and Omitted Taxes
79,072.69
xxxxxxxxxx
11,849,954.78
11,849,954.78
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
2023 Levy: (List Each Type of District Tax Separately - See Footnote)
xxxxxxxxxxx
xxxxxxxxxx
Fire -
1,686,224.57
xxxxxxxxxxx
xxxxxxxxxx
Sewer -
xxxxxxxxxxx
xxxxxxxxxx
Water -
xxxxxxxxxxx
xxxxxxxxxx
Garbage -
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
Total 2023 Levy
xxxxxxxxxxx
1,686,224.57
Paid
1,686,224.57
xxxxxxxxxx
Balance - December 31, 2023
-
xxxxxxxxxx
1,686,224.57
1,686,224.57
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
1,875,135.00
1,875,135.00
-
Surplus Anticipated with Prior Written Consent of
Director of Local Government Services
-
Miscellaneous Revenue Anticipated:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Adopted Budget
5,931,079.67
5,969,522.72
38,443.05
Added by N.J.S.A. 40A:4-87 (List on 17a)
-
-
-
-
-
Total Miscellaneous Revenue Anticipated
5,931,079.67
5,969,522.72
38,443.05
Receipts from Delinquent Taxes
50,000.00
97,024.30
47,024.30
Amount to be Raised by Taxation:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
(a) Local Tax for Municipal Purposes
20,694,154.21
xxxxxxxxx
xxxxxxxxx
(b) Addition to Local District School Tax
xxxxxxxxx
xxxxxxxxx
(c) Minimum Library Tax
xxxxxxxxx
xxxxxxxxx
Total Amount to be Raised by Taxation
20,694,154.21
21,285,135.74
590,981.53
28,550,368.88
29,226,817.76
676,448.88
Debit
Credit
Current Taxes Realized in Cash (Total of Item 10 or 14 on Sheet 22)
xxxxxxxxx
67,723,147.24
Amount to be Raised by Taxation
xxxxxxxxx
xxxxxxxxx
Local District School Tax
14,883,524.00
xxxxxxxxx
Regional School Tax
18,109,882.00
xxxxxxxxx
Regional High School Tax
-
xxxxxxxxx
County Taxes
11,770,882.09
xxxxxxxxx
Due County for Added and Omitted Taxes
79,072.69
xxxxxxxxx
Special District Taxes
1,686,224.57
xxxxxxxxx
Municipal Open Space Tax
238,724.86
xxxxxxxxx
Municipal Arts and Culture Tax
xxxxxxxxx
Reserve for Uncollected Taxes
xxxxxxxxx
330,298.71
Deficit in Required Collection of Current Taxes (or)
xxxxxxxxx
-
Balance for Support of Municipal Budget (or)
21,285,135.74
xxxxxxxxx
*Excess Non-Budget Revenue (see footnote)
xxxxxxxxx
*Deficit Non-Budget Revenue (see footnote)
xxxxxxxxx
68,053,445.95
68,053,445.95
Source
STATEMENT OF GENERAL BUDGET REVENUES 2023
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 2023
(Continued)
Miscellaneous Revenues Anticipated: Added By N.J.S.A. 40A:4-87
Source
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 2023
(Continued)
Miscellaneous Revenues Anticipated: Added By N.J.S.A. 40A:4-87
Source
2023 Budget As Adopted
28,550,368.88
2023 Budget - Added by N.J.S.A. 40A:4-87
-
Appropriated for 2023 (Budget Statement Item 9)
28,550,368.88
Appropriated for 2023 by Emergency Appropriation (Budget Statement Item 9)
Total General Appropriations (Budget Statement Item 9)
28,550,368.88
Add: Overexpenditures (see footnote)
Total Appropriations and Overexpenditures
28,550,368.88
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
27,527,705.42
Paid or Charged - Reserve for Uncollected Taxes
330,298.71
Reserved
692,363.55
Total Expenditures
28,550,367.68
Unexpended Balances Canceled (see footnote)
1.20
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".
2023 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 2023
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
38,443.05
Delinquent Tax Collections
xxxxxxxxx
47,024.30
xxxxxxxxx
Required Collection of Current Taxes
xxxxxxxxx
590,981.53
Unexpended Balances of 2023 Budget Appropriations
xxxxxxxxx
1.20
Miscellaneous Revenue Not Anticipated
xxxxxxxxx
446,822.34
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 2022 Appropriation Reserves
xxxxxxxxx
300,856.61
Prior Years Interfunds Returned in 2023
xxxxxxxxx
Deferred School Tax Revenue: (See School Taxes, Sheets 13 & 14)
xxxxxxxxx
xxxxxxxxx
Balance - January 1, 2023
5,236,297.00
xxxxxxxxx
Balance - December 31, 2023
xxxxxxxxx
5,236,297.00
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 2023
1,067,506.53
xxxxxxxxx
Deficit Balance - To Trial Balance (Sheet 3)
xxxxxxxxx
-
Surplus Balance - To Surplus (Sheet 21)
356,622.50
xxxxxxxxx
6,660,426.03
6,660,426.03
Sheet 19
RESULTS OF 2023 OPERATIONS
CURRENT FUND
-
xxxxxxxxx
Amount Realized
PREVIOUS PAGE TOTALS
-
TRASH AND RECYCLING CONTAINERS
15,285.00
INSURANCE REIMB
1,800.00
SALE OF EQUIP
78,432.53
SALE OF PROPERTY
15,000.00
RECYCLING WHITE GOODS
14,254.05
RENT
2,141.00
TAX ASSESSOR SEARCH
874.00
VITAL STATISTICS
5,562.00
BOARD OF ADJUSTMENT
4,050.00
ROAD OPENINGS
20,650.00
POLICE REPORTS
24,591.15
PLANNING BOARD
5,200.00
MISC CLERK
1,485.60
STREET VACATION
250.00
BULK PICK UP
500.00
MISCELLANEOUS
16,429.25
TAX MAP
300.00
INTEREST
240,017.76
Total Amount of Miscellaneous Revenues Not Anticipated (Sheet 19)
446,822.34
SCHEDULE OF MISCELLANEOUS REVENUES
NOT ANTICIPATED
Source
Sheet 20 Totals
Debit
Credit
1.
Balance - January 1, 2023
xxxxxxxxx
3,623,759.20
2.
xxxxxxxxx
3.
Excess Resulting from 2023 Operations
xxxxxxxxx
356,622.50
4.
Amount Appropriated in the 2023 Budget - Cash
1,875,135.00
xxxxxxxxx
5.
Amount Appropriated in 2023 Budget - with Prior
Written Consent of Director of Local Government Services
-
xxxxxxxxx
6.
xxxxxxxxx
7.
Balance - December 31, 2023
2,105,246.70
xxxxxxxxx
3,980,381.70
3,980,381.70
Cash
9,960,707.43
Investments
Sub Total
9,960,707.43
Deduct Cash Liabilities Marked with "C" on Trial Balance
8,067,875.41
Cash Surplus
1,892,832.02
Deficit in Cash Surplus
Other Assets Pledged to Surplus:*
212,414.68
Deferred Charges #
Cash Deficit #
Total Other Assets
212,414.68
* IN THE CASE OF A "DEFICIT IN CASH SURPLUS", "OTHER ASSETS"
2,105,246.70
WOULD ALSO BE PLEDGED TO CASH LIABILITIES.
# MAY NOT BE ANTICIPATED AS NON-CASH SURPLUS IN 2024 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.J.
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 issued
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 2023
ANALYSIS OF BALANCE AS AT DECEMBER 31, 2023
(FROM CURRENT FUND - TRIAL BALANCE)
1.
Amount of Levy as per Duplicate (Analysis) #
$
or
(Abstract of Ratables)
$
65,744,362.79
2.
Amount of Levy - Special District Taxes
$
1,686,224.57
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.
$
427,235.23
5a. Subtotal 2023 Levy
$
67,857,822.59
5b. Reductions Due to Tax Appeals**
$
5c. Total 2023 Tax Levy
$
67,857,822.59
6.
Transferred to Tax Title Liens
$
106,675.86
7.
Transferred to Foreclosed Property
$
8.
Remitted, Abated or Canceled
$
17,034.75
9.
Discount Allowed
$
10. Collected in Cash: In 2022
$
859,430.32
In 2023*
$
66,597,977.89
Homestead Benefit Credit
$
State's Share of 2023 Senior Citizens
and Veterans Deductions Allowed
$
265,739.03
Total To Line 14
$
67,723,147.24
11. Total Credits
$
67,846,857.85
12. Amount Outstanding December 31, 2023
$
10,964.74
13. Percentage of Cash Collections to Total 2023 Levy,
(Item 10 divided by Item 5c) is
99.80%
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
$
67,723,147.24
Less: Reserve for Tax Appeals Pending
State Division of Tax Appeals
$
To Current Taxes Realized in Cash (Sheet 17)
$
67,723,147.24
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 2023 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 - 2023 LEVY
Sheet 22
(1) Utilizing Accelerated Tax Sale
Total of Line 10 Collected in Cash (sheet 22)
$
67,723,147.24
LESS : Proceeds from Accelerated Tax Sale
Net Cash Collected
$
67,723,147.24
Line 5c (sheet 22) Total 2023 Tax Levy
$
67,857,822.59
Percentage of Collection Excluding Accelerated Tax Sale Proceeds
(Net Cash Collected divided by Item 5c) is
99.80%
(2) Utilizing Tax Levy Sale
Total of Line 10 Collected in Cash (sheet 22)
$
67,723,147.24
LESS : Proceeds from Tax Levy Sale (excluding premium)
Net Cash Collected
$
67,723,147.24
Line 5c (sheet 22) Total 2023 Tax Levy
$
67,857,822.59
Percentage of Collection Excluding Tax Levy Sale Proceeds
(Net Cash Collected divided by Item 5c) is
99.80%
Sheet 22a
ACCELERATED TAX SALE / TAX LEVY SALE - CHAPTER 99
To Calculate Underlying Tax Collection Rate for 2023
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, 2023
xxxxxxxxx
xxxxxxxxx
Due From State of New Jersey
220,574.70
xxxxxxxxx
Due To State of New Jersey
xxxxxxxxx
2.
Senior Citizens Deductions Per Tax Billings
40,250.00
xxxxxxxxx
3.
Veterans Deductions Per Tax Billings
223,250.00
xxxxxxxxx
4.
Deductions Allowed By Tax Collector
2,750.00
xxxxxxxxx
5.
Deductions Allowed By Tax Collector - Prior Year Taxes (2022)
6.
7.
Deductions Disallowed By Tax Collector
xxxxxxxxx
510.97
8.
Deductions Disallowed By Tax Collector - Prior Year Taxes (2022)
xxxxxxxxx
3,780.82
9.
Received in Cash from State
xxxxxxxxx
270,118.23
10.
11.
12. Balance - December 31, 2023
xxxxxxxxx
xxxxxxxxx
Due From State of New Jersey
xxxxxxxxx
212,414.68
Due To State of New Jersey
-
xxxxxxxxx
486,824.70
486,824.70
Calculation of Amount to be included on Sheet 22, Item 10 -
2023 Senior Citizens and Veterans Deductions Allowed
Line 2
40,250.00
Line 3
223,250.00
Line 4
2,750.00
Sub - Total
266,250.00
Less: Line 7
510.97
To Item 10, Sheet 22
265,739.03
SCHEDULE OF DUE FROM / TO STATE OF NEW JERSEY
FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Sheet 23
Debit
Credit
Balance - January 1, 2023
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, 2023
-
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, 2023
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 2023 Taxes Collected which are
Pending State Appeal (Item 14, Sheet 22)
1. Balance - January 1, 2023
843,359.20
xxxxxxxxx
A. Taxes
55,293.85
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
788,065.35
xxxxxxxxx
xxxxxxxxx
2. Canceled:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
5,332.79
B. Tax Title Liens
xxxxxxxxx
3. Transferred to Foreclosed Tax Title Liens:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
4. Added Taxes
xxxxxxxxx
5. Added Tax Title Liens
21,724.59
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
859,751.00
8.
Totals
865,083.79
865,083.79
9. Balance Brought Down
859,751.00
xxxxxxxxx
10. Collected:
xxxxxxxxx
97,024.30
A. Taxes
5,153.61
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
91,870.69
xxxxxxxxx
xxxxxxxxx
11. Interest and Costs - 2023 Tax Sale
3,400.36
xxxxxxxxx
12. 2023 Taxes Transferred to Liens
106,675.86
xxxxxxxxx
13. 2023 Taxes
10,964.74
xxxxxxxxx
14. Balance - December 31, 2023
xxxxxxxxx
883,767.66
A. Taxes
55,772.19
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
827,995.47
xxxxxxxxx
xxxxxxxxx
15.
Totals
980,791.96
980,791.96
16. Percentage of Cash Collections to Adjusted Amount Outstanding
(Item No. 10 divided by Item No. 9) is
11.28%
17. Item No.14 multiplied by percentage shown above is
99,688.99
and represents the
maximum amount that may be anticipated in 2024.
(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, 2023
5,757,700.00
xxxxxxxxx
2. Foreclosed or Deeded in 2023
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, 2023
xxxxxxxxx
5,757,700.00
5,757,700.00
5,757,700.00
Debit
Credit
15. Balance - January 1, 2023
xxxxxxxxx
16. 2023 Sales from Foreclosed Property
xxxxxxxxx
17. Collected*
xxxxxxxxx
18.
xxxxxxxxx
19. Balance - December 31, 2023
xxxxxxxxx
-
-
-
Debit
Credit
20. Balance - January 1, 2023
xxxxxxxxx
21. 2023 Sales from Foreclosed Property
xxxxxxxxx
22. Collected*
xxxxxxxxx
23.
xxxxxxxxx
24. Balance - December 31, 2023
xxxxxxxxx
-
-
-
Analysis of Sale of Property:
$
-
*Total Cash Collected in 2023
Realized in 2023 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, 2022
Amount in
Amount
Balance
per Audit
2023
Resulting from
as at
Report
Budget
2023
Dec. 31, 2023
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 2023
1.
$
2.
$
3.
$
4.
$
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
Sheet 28
JUDGMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED
On Account of
In Favor of
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, 2022
By 2023
Canceled
Dec. 31, 2023
Authorized*
Budget
By Resolution
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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, 2023' must be entered here and then raised in the 2024 budget.
Chief Financial Officer
2023
REDUCED IN
Sheet 29
Date
Purpose
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, 2022
By 2023
Canceled
Dec. 31, 2023
Authorized*
Budget
By Resolution
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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, 2023' must be entered here and then raised in the 2024 budget.
Chief Financial Officer
2023
REDUCED IN
Sheet 30
Date
Purpose
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
1,775,000.00
Outstanding - December 31, 2023
18,155,000.00
19,930,000.00
2024 Bond Maturities - General Capital Bonds
$
2024 Interest on Bonds*
$
697,545.98
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Bond Maturities - Assessment Bonds
$
2024 Interest on Bonds*
$
Total "Interest on Bonds - Debt Service" (*Items)
$
2024 Maturity
Interest
Rate
2023 General Obligation Bonds
1,125,000.00
4.00%
Total
1,125,000.00
Purpose
Amount Issued
Sheet 31
LIST OF BONDS ISSUED DURING 2023
11,855,000.00
8/22/2023
11,855,000.00
Date of
Issue
xxxxxxxxx
xxxxxxxxx
19,930,000.00
ASSESSMENT SERIAL BONDS
2,495,000.00
xxxxxxxxx
697,545.98
xxxxxxxxx
-
11,855,000.00
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR BONDS
GENERAL CAPITAL BONDS
2024 Debt Service
Credit
8,075,000.00
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
29,293.06
Refunded
Outstanding - December 31, 2023
67,906.83
97,199.89
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for GREEN TRUST Loan
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
85,100.24
Outstanding - December 31, 2023
3,476,309.12
3,561,409.36
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for NJEIT Loan
$
2024 Maturity
Interest
Rate
Total
-
114,546.75
xxxxxxxxx
1,716,704.36
Purpose
77,972.04
1,209.73
31,091.80
97,199.89
xxxxxxxxx
1,844,705.00
29,882.07
3,561,409.36
xxxxxxxxx
NJEIT LOAN
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
GREEN TRUST LOAN
2024 Debt Service
Credit
97,199.89
xxxxxxxxx
Date of
Issue
Amount Issued
192,518.79
Sheet 31a
LIST OF LOANS ISSUED DURING 2023
-
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Refunded
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
2024 Maturity
Interest
Rate
Total
-
Sheet 31a.1
-
-
LIST OF LOANS ISSUED DURING 2023
Purpose
Amount Issued
Date of
Issue
-
LOAN
xxxxxxxxx
xxxxxxxxx
-
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
LOAN
Credit
2024 Debt Service
xxxxxxxxx
xxxxxxxxx
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Refunded
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
2024 Maturity
Interest
Rate
Total
-
Sheet 31a.2
-
-
LIST OF LOANS ISSUED DURING 2023
Purpose
Amount Issued
Date of
Issue
-
LOAN
xxxxxxxxx
xxxxxxxxx
-
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
LOAN
Credit
2024 Debt Service
xxxxxxxxx
xxxxxxxxx
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Bond Maturities - Term Bonds
$
2024 Interest on Bonds
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Interest on Bonds
$
2024 Bond Maturities - Term Bonds
$
Total "Interest on Bonds - Type I School Debt Service" (*Items)
$
2024 Maturity
-01
Interest
Rate
Total
-
Outstanding
Dec. 31, 2023
1.
Emergency Notes
$
$
2.
Special Emergency Notes
$
$
3.
Tax Anticipation Notes
$
$
4.
Interest on Unpaid State & County Taxes
$
$
5.
$
$
6.
$
$
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR BONDS
TYPE I SCHOOL TERM BONDS
2024 Debt Service
Credit
xxxxxxxxx
LIST OF BONDS ISSUED DURING 2023
-
-
TYPE I SCHOOL SERIAL BONDS
-
xxxxxxxxx
xxxxxxxxx
2024 INTEREST REQUIREMENT - CURRENT FUND DEBT ONLY
Purpose
Date of
Issue
xxxxxxxxx
Amount Issued
-02
-
2024 Interest
Sheet 32
Requirement
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, 2023
361,000.00
7/12/2021
361,000.00
01/24/24
4.7500%
19,000.00
17,147.50
01/24/24
209,000.00
7/12/2021
209,000.00
01/24/24
4.7500%
5,400.00
9,927.50
01/24/24
2,802,500.00
8/11/2021
2,802,500.00
01/24/24
4.7500%
96,700.00
132,272.02
01/24/24
432,250.00
7/12/2021
432,250.00
01/24/24
4.7500%
15,000.00
20,531.88
01/24/24
712,500.00
7/12/2021
712,500.00
01/24/24
4.7500%
40,550.00
33,843.75
01/24/24
1,900,000.00
8/11/2021
1,900,000.00
01/24/24
4.7500%
65,600.00
90,250.00
01/24/24
Page Totals
6,417,250.00
6,417,250.00
242,250.00
303,972.65
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 2021 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2024 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
2024 Budget Requirements
19-11 Preliminary Dredging Expenses
20-2 Paving and Improvements Various Streets
20-9 Beach Replenishment Project
20-14 Township Wide Dredging Projects
21-02 Acq of Var PW Equipment
21-6 Improvements to Rec Fields
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, 2023
PREVIOUS PAGE TOTALS
6,417,250.00
6,417,250.00
242,250.00
303,972.65
PAGE TOTALS
6,417,250.00
6,417,250.00
242,250.00
303,972.65
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 2021 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2024 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)
2024 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, 2023
PREVIOUS PAGE TOTALS
6,417,250.00
6,417,250.00
242,250.00
303,972.65
PAGE TOTALS
6,417,250.00
6,417,250.00
242,250.00
303,972.65
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 2021 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2024 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)
2024 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, 2023
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 2021 or prior must be appropriated in full in the 2024 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
2024 Budget Requirements
Amount
Lease Obligation Outstanding
Dec. 31, 2023
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
2024 Budget Requirements
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
807,225.13
65,128.41
742,096.72
440,893.68
317,949.64
122,944.04
184,108.25
29,000.00
155,108.25
222,957.99
37,483.92
185,474.07
73,534.58
10,725.70
62,808.88
14,642.25
219.98
14,422.27
42,638.51
10,000.00
32,638.51
2020-02 Paving and Improve Var Roads
15,268.68
127.90
15,140.78
2020-03 Improvements to Community Center
30,710.46
19,216.39
11,494.07
2020-09 Beach Replenishment
1,714,085.94
1,714,085.94
-
2020-10 Mystic Drainage Impr Phase II
42,990.99
42,990.99
-
2020-14 Twp-wide Drainage Projects
56,925.04
29,761.66
27,163.38
2021-02 Acq of Var PW Equipment
83,988.45
68,571.68
15,416.77
2021-06 Improvements to Rec Fields
242,239.45
90,952.68
151,286.77
2021-09 Mystic West Phase 1 Dredging
1,782,992.72
1,782,992.72
-
2021-10 Atlantis Dredging
284,845.08
98,166.85
186,678.23
2021-16 Acquisition of Property
35,217.44
35,217.44
2021-18 Mystic Drainage Improvements Phase II
236,000.00
130,703.89
105,296.11
Page Total
776,392.46
5,534,872.18
-
-
4,448,078.35
-
408,717.12
1,454,469.17
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND)
Sheet 35
IMPROVEMENTS
Specify each authorization by purpose. Do
not merely designate by a code number.
Balance - January 1, 2023
Balance - December 31, 2023
2014-10 Various Capital Improvements
2016-05 Various Capital Improvements
2017-08 Various Capital Improvements
2018-13 Various General Improvements
2019-08 Additional improvements Veterans Park
2019-11 Preliminary Dredging Expenses
2019-12 Improvements Little Treasurers Park
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
776,392.46
5,534,872.18
-
-
4,448,078.35
-
408,717.12
1,454,469.17
2022-07 various Road Improvements
946,681.41
373,637.06
573,044.35
2023-03 PW EQUIP.
1,000,000.00
50,000.00
950,000.00
2023-17 Rec Complex Impr.
1,600,000.00
363,425.51
1,236,574.49
2023-29 Paving Road Impr.
2,000,000.00
100,000.00
1,900,000.00
2023-30 Impr Oak Lane
900,000.00
900,000.00
2023-31 Drainage Projects
480,000.00
7,437.85
16,562.15
456,000.00
2023-33 Mystic Drainage Phase 3
3,800,000.00
3,800,000.00
PAGE TOTALS
776,392.46
6,481,553.59
9,780,000.00
-
5,192,578.77
-
575,279.27
11,270,088.01
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, 2023
Balance - December 31, 2023
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
776,392.46
6,481,553.59
9,780,000.00
-
5,192,578.77
-
575,279.27
11,270,088.01
PAGE TOTALS
776,392.46
6,481,553.59
9,780,000.00
-
5,192,578.77
-
575,279.27
11,270,088.01
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, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
776,392.46
6,481,553.59
9,780,000.00
-
5,192,578.77
-
575,279.27
11,270,088.01
GRAND TOTALS
776,392.46
6,481,553.59
9,780,000.00
-
5,192,578.77
-
575,279.27
11,270,088.01
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, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
207,544.00
Received from 2023 Budget Appropriation*
xxxxxxxxx
125,000.00
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
204,000.00
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2023
128,544.00
xxxxxxxxx
332,544.00
332,544.00
*The full amount of the 2023 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, 2023
xxxxxxxxx
Received from 2023 Budget Appropriation*
xxxxxxxxx
Received from 2023 Emergency Appropriation*
xxxxxxxxx
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2023
-
xxxxxxxxx
-
-
*The full amount of the 2023 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
2023-03 PW EQUIP.
1,000,000.00
950,000.00
50,000.00
2023-17 Rec Complex Impr.
1,600,000.00
1,570,000.00
30,000.00
2023-29 Paving Road Impr.
2,000,000.00
1,900,000.00
100,000.00
2023-30 Impr Oak Lane
900,000.00
900,000.00
2023-31 Drainage Projects
480,000.00
456,000.00
24,000.00
2023-33 Mystic Drainage Phase 3
3,800,000.00
3,800,000.00
Total
9,780,000.00
9,576,000.00
204,000.00
-
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
Sheet 37
CAPITAL IMPROVEMENTS AUTHORIZED IN 2023
AND DOWN PAYMENTS (N.J.S.A. 40A:2-11)
Purpose
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
3,186.53
Premium on Sale of Bonds
xxxxxxxxx
Funded Improvement Authorizations Canceled
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
Appropriated to 2023 Budget Revenue
xxxxxxxxx
Balance - December 31, 2023
3,186.53
xxxxxxxxx
3,186.53
3,186.53
GENERAL CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
Sheet 38
YEAR - 2023
A.
1.
Total Tax Levy for Year 2023 was
$
2.
Amount of Item 1 Collected in 2023 (*)
$
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 2023?
2.
Have payments been made for all bonded obligations or notes due on or before
December 31, 2023?
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 2024 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?
D.
1.
Cash Deficit 2022
$
2.
4% of 2022 Tax Levy for all purposes:
Levy --
$
=
$
3.
Cash Deficit 2023
$
4.
4% of 2023 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
$
$
$
Sheet 39
2022
2,533,805.00
79,072.69
-
-
-
Answer YES or NO
Answer YES or NO
Unpaid
Total
2023
Answer YES or NO
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)
2,533,805.00
79,072.69
67,857,822.59
47,500,475.81
67,723,147.24
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"...FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2024
MUNICIPALITIES - FEBRUARY 10, 2024..."
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