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Annual Debt Statement 2025

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Executive Summary

The Annual Debt Statement for Little Egg Harbor Township, New Jersey, for the budget year ending December 31, 2025, details the township's debt condition as of that date. The statement includes information on gross debt, deductions, and net debt for local and regional school purposes, as well as municipal/county general obligations. The net debt expressed as a percentage of the equalized valuation basis is 0.899%.

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--- Document: Annual Debt Statement 2025 Document ---
ASEAL OF THE STATE OF NEW
THE
State of New Jersey
Department of Community Affairs
Annual Debt Statement
Little Egg Harbor Township
Tuni Code:
1516
Local Unit:
Budget Year Ending:
December
31
DCA
NI DEPARTMENT
CommunityAffairs
Ocean
County:
2025
(year)
Name: THOMAS LOMBARSKI
Title: CHIEF FINANCIAL OFFICER
CFO Cert. # N-0452
THOMAS LOMBARSKI, Being duly sworn, deposes and says:
Phone: 609-296-7241
Email: tlombarski@leht.com
Address: 665 RADIO RD.
LITTLE EGG HARBOR, NJ 08087
Deponent is the Chief Financial Officer of Little Egg Harbor Township, here and in the statement hereinafter mentioned
called the local unit.
The Annual Debt Statement annexed hereto and hereby made a part thereof is a true statement of the debt condition of
the local unit as of the date therein stated and is computed as provided by the Local Bond Law of New Jersey.
By checking this box, I am swearing that the above statement is true.
Gross Debt
Deduction
Net Debt
Total Bonds and Notes for Local School Purposes
$ 12,170,000.00 $ 12,170,000.00 $
Total Bonds and Notes for Regional School Purposes
$ 33,334,330.85 $ 33,334,330.85
$
$
$
$
$
$
$
$
$
$
$
$
$
Municipal/County General Obligations
$ 36,985,804.86 $ 143,592.47 $
36,842,212.39
2 Total
$ 82,490,135.71 $ 45,647,923.32 $
36,842,212.39
3
Equalized valuation basis (the average of the equalized valuations of real estate, including improvements and the assessed
valuation of class II railroad property of the local unit for the last 3 preceding years).
Year
Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR
2023 Property
Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR
2024 Property
Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR
2025 Property
4 Equalized Valuation Basis - Average of (1), (2) and (3)..
5 Net Debt expressed as a percentage of such equalized valuation basis is: %
$ 3,684,666,819.00
$
4,108,341,585.00
$
4,494,706,718.00
$
4,095,905,040.67
0.899%
Summary
Page 1
BONDS AND NOTES FOR LOCAL SCHOOL PURPOSES
If Municipality has no Local School District, check this box:
If Local School District has no debt, check this box:
Local School District Type (select one):
Type II
1 Term Bonds
2 Serial Bonds
(a) Issued
$
12,170,000.00
(b) Authorized but not issued
$
3 Temporary Notes
(a) Issued
(b) Authorized but not issued
$
$
4 Total Bonds and Notes
$ 12,170,000.00
DEDUCTIONS APPLICABLE TO BONDS AND NOTES - FOR SCHOOL PURPOSES
Amounts held or to be held for the sole purpose of paying bonds and notes included above.
Sinking funds on hand for bonds shown as Line 1 but not in excess of
5 such bonds.
runas om manu im most cases whitit suon munus camποι θς αινσιισα το
purposes other than the payment of bonds and notes included in Line
6 4.
Estimated proceeds of bonds and notes authorized but not issued
where such proceeds will be used for the sole purpose of paying
7 bonds and notes included in Line 4.
8% of average of equalized valuations
$
$
$
GA
$ 4,095,905,040.67 2.50% $ 102,397,626.02
Use applicable per centum as follows:
2.50% Kindergarten or Grade 1 through Grade 6
3.00% Kindergarten or Grade 1 through Grade 8
3.50% Kindergarten or Grade 1 through Grade 9
4.00% Kindergarten or Grade 1 through Grade 12
9 Additional State School Building Aid Bonds (NJSA 18A:58-33.4(d)) $
10 Total Potential Deduction
Total Allowable Deduction
Local School Debt
$ 102,397,626.02
S 12,170,000.00
Page 1
BONDS AND NOTES FOR REGIONAL SCHOOL PURPOSES 2
*Only utilize this page if the municipality is part of more than one regional school district.
If Regional School District has no debt, check this box:
Regional School District Name:
1 TERM BONDS
2 SERIAL BONDS
Π
Pinelands Regional School Distret
(a) Issued
(b) Authorized but not issued
3 TEMPORARY BONDS AND NOTES
(a) Issued
(b) Authorized but not issued
4 TOTAL OF REGIONAL SCHOOL BONDS AND NOTES
$
33,334,330.85
$
S
33,334,330.85
N.J.S.A. 40A:2-43 reads in part as follows: "Gross debt of a municipality shall also include that amount of the total of all the bonds and notes
issued and authorized but not issued by any school district including the area of the municipality, which results from the application to such total of
the ratio which the equalized valuation basis of the municipality bears to the sum of the equalized valuation basis of each municipality in any such
school district."
COMPUTATION OF REGIONAL AND/OR CONSOLIDATED SCHOOL DISTRICT DEBT
% OF VALUATIONS APPORTIONED TO EACH MUNICIPALITY
Average Equalized
APPORTIONMENT OF DEBT
December 31, 2025
Municipality
%
Valuations
Serial Bonds
Issued
Temp. Bond-
Authorized
Notes Issued
But not Issued
Bass River Township
Eagleswood Township
Little Egg Harbor Township
Tuckerton Borough
$
243,849,133.33 4.49451868% $
$ 359,989,458.00 6.63516544% $
1,984,554.72 $
$
2,929,757.30 $
$
$ 4,095,905,040.67 ########### $
33,334,330.85 $
$
$
725,734,620.33 ########### $
5,906,357.13 $
$
Totals
$ 5,425,478,252.33
100.00% $ 44,155,000.00
Regional School Debt 2
Page 1
OTHER BONDS, NOTES AND LOANS - Page 1
1 TERM BONDS (state purposes separately)
(1)
(2)
(3)
(4)
(5)
$
$
$
$
$
Total Term Bonds
2 SERIAL BONDS (state purposes separately)
(a) Issued
2023A GENERAL IMPROVEMENT BONDS
$
2,395,000.00
2023B SPECIAL ASSESSMENT BONDS
$
7,210,000.00
2017 GENERAL IMPROVEMENT BONDS
$
1,100,000.00
2019 GENERAL IMPROVEMENT BONDS
$
2,460,000.00
3
(9)
(10)
(11)
(12)
(13)
(14)
$
(15)
$
(16)
$
(17)
$
(18)
(19)
$
(20)
(21)
$
(22)
$
(23)
(24)
(25)
(26)
$
(27)
(28)
(29)
$$$$
(30)
$
(31)
$
(32)
(33)
(34)
$
(35)
(36)
$
(37)
(38)
$
(39)
(40)
$
(41)
$
(42)
(43)
(44)
(45)
$
(46)
(47)
(48)
(49)
$
(50)
(51)
(52)
GAGA GA
(53)
$
(54)
(55)
(56)
$
(57)
(58)
(59)
(60)
$
$
$
(61)
(62)
(63)
(64)
Total Serial Bonds Issued
Bonds Issued
60
$
$
13,165,000.00
OTHER BONDS, NOTES AND LOANS - Page la
(b) Bonds Authorized but not Issued
(1)
(2)
(4)
(5)
$
(8)
$
(9)
$
(10)
$
(11)
$
(12)
GA
$
(13)
69
$
(14)
GA
$
(15)
(16)
GA
$
$
(17)
(18)
SA
$
$
(19)
$
(20)
$
(21)
(22)
(23)
(24)
$
$
$
$$$$$
(25)
69
Total Serial Bonds Authorized but not Issued
3 Total Serial Bonds Issued and Authorized but not Issued
Bonds Authorized
1
$
$
13,165,000.00
Page 1
OTHER BONDS, NOTES AND LOANS - Page 2
4 BOND ANTICIPATION NOTES (state purposes separately)
(a) Issued
(1) 2019-11 PRELIMINARY EXPENSES DREDGING PROJECTS
$
323,000.00
(2) 2020-02 PAVING AND IMPROVEMENT VARIOUS ROADS
$
198,200.00
3) 2020-03 IMPROVEMENTS TO COMMUNITY CENTER
$
61,750.00
(4) 2020-09 BEACH REPLENISHMENT
$
2,609,100.00
(5) 2020-14 TOWNSHIP-WIDE DRAINAGE PROJECTS
$
402,250.00
(6) EQUIPMENT
$
631,600.00
2021-06 REVNOVATIONS & IMPROVEMENT REC COMPLEX
$
1,768,850.00
(8) 2022-07 VARIOUS ROAD IMPROVEMENTS
$
1,425,000.00
(9) EQUIPMENT
$
950,000.00
(10) COMPLEX
$
1,570,000.00
(11) 2023-29 VARIOUS ROAD IMPROVEMENTS
$
1,900,000.00
(12) 2023-30 PEDESTRIAN SAFETY IMPROVEMENTS
$
150,000.00
(13) 2023-31 DRAINAGE IMPROVEMENTS
$
456,000.00
(14) 2024-01 VARIOUS CAPITAL IMPROVEMENTS
$
760,000.00
(15) 2024-28 VARIOUS ROAD AND DRAINAGE PROJECTS
$
950,000.00
(16) EQUIP
$
1,000,000.00
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(38)
(39)
(40)
(41)
(42)
(43)
(44)
(45)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
(54)
(55)
(56)
(57)
(58)
(59)
Bond Anticipation Notes Issued
$
15,155,750.00
Notes Issued
Page 1
OTHER BONDS, NOTES AND LOANS - Page 3a
4 BOND ANTICIPATION NOTES (state purposes separately)
(b) Authorized but not issued
(1) 2013-14 VARIOUS CAPITAL IMPROVEMENTS
$
8,215.05
(2) 2014-10 VARIOUS CAPITAL IMPROVEMENTS
$
357,500.00
(3) 2018-13 VARIOUS CAPITAL IMPROVEMENTS
$
73,150.00
(4) 2020-10 MYSTIC DRAINAGE IMPROVEMENTS
(5) 2020-14 TOWNSHIP WIDE DRAINAGE PROJECTS
2021-02 VARIOUS PUBLIC WORKS EQUIPMENT
2021-06 RENVOVATIONS & IMPROVEMENT REC COMPLEX
$
1,714,000.00
$
236,000.00
$
200.00
$
50.00
(8) 2021-09 MYSTIC ISLAND PHASE 1 DREDGING
$
250,000.00
(9) 2021-10 ATLANTIS DREDGING
$
225,000.00
(10) 2023-30 PEDESTRIAN SAFETY IMPROVEMENTS
$
241,086.86
(11) 2024-28 VARIOUS ROAD & DRAINAGE IMPROVEMENTS
$
1,995,296.00
(12) EQUIP
$
391,750.00
(13)
(14)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(38)
(39)
(40)
(41)
(42)
(43)
(44)
(45)
Notes Authorized
Page 1
OTHER BONDS, NOTES AND LOANS - Page 3b
4 BOND ANTICIPATION NOTES (state purposes separately)
(b) Authorized but not issued (Continued)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
(54)
(55)
(56)
(57)
(58)
(59)
(60)
(61)
(62)
(63)
(64)
(65)
(66)
(67)
(68)
(69)
(70)
(71)
(72)
(73)
(74)
(75)
(76)
(77)
(78)
(79)
(80)
(81)
(82)
(83)
(84)
(85)
(86)
(87)
(88)
Bond Anticipation Notes Authorized but not Issued
5 Total Bond Anticipation Notes Issued and Authorized but not Issued
$
5,492,247.91
$
20,647,997.91
Notes Authorized 2
Page 1
OTHER BONDS, NOTES AND LOANS - Page 4
6 MISCELLANEOUS BONDS, NOTES AND LOANS
(not including Tax Anticipation Notes, Emergency Notes, Special Emergency Notes and Utility Revenue Notes)
(a) Issued
(1) Capital Notes (N.J.S.A. 40A:2-8)
(2)
Bonds issued by another Public Body Guaranteed by Municipality or County
(3)
Green Trust Loans
$
15,315.58
(4)
Infrastructure Trust
(5)
2021 NJEIT LOAN
$
1,456,403.64
(6)
2023 NJEIT LOAN
$
1,701,087.73
(7)
Miscellaneous Bonds, Notes and Loans Issued
(b) Authorized but not issued
(1)
Capital Notes (N.J.S.A. 40A:2-8)
(2)
Bonds issued by another Public Body Guaranteed by Municipality or County
(3)
(4)
(5)
45
Miscellaneous Bonds and Notes Authorized but not Issued
$
3,172,806.95
$
Total Miscellaneous Bonds, Notes and Loans Issued and Authorized but not Issued
$
3,172,806.95
Misc. Bonds, Notes, Loans
Page 1
DEDUCTIONS APPLICABLE TO OTHER BONDS AND NOTES
1. Amounts held or to be held for the sole purpose of paying general bonds and notes included
(a)
Sinking funds on hand for term bonds
(1)
$
(b)
Funds on hand (including proceeds of bonds and notes held to pay other
bonds and notes), in those cases where such funds cannot be diverted to
purposes other than the payment of bonds and notes
(1) RESERVE TO PAY DEBT
(2)
(3)
$
143,592.47
$
$
Estimated proceeds of bonds and notes authorized but not issued where
$
GA
$
(c)
such proceeds will be used for the sole purpose of paying bonds and
notes
(1)
$
(2)
$
(3)
$
$
(d)
Accounts receivable from other public authorities applicable only to the
payment of any part of the gross debt not otherwise deductible
(1)
(2)
(3)
$
$
2. Bonds authorized by another Public Body to be guaranteed by the municipality
$
Bonds issued and bonds authorized by not issued to meet cash grants-in-aid for
3. housing authority, redevelopment agency or municipality acting as its local public
agency [N.J.S.A. 55:14B-4.1(d)]
$
4.
Bonds issued and bonds authorized but not issued - Capital projects for County
Colleges (N.J.S.A. 18A:64A-22.1 to 18A:64A-22.8)
$
5. Refunding Bonds (N.J.S.A 40A:2-52)
(1)
(2)
Total Deductions Applicable to Other Bonds and Notes
143,592.47
$
$
$
$
143,592.47
Deductions
Page 1
Obligations NOT Included in Gross Debt
1 Capital Leases and Other Comittments
(1)
2020 GENERAL OBLIGATION ASSESSMENT BONDS
$
$$$$
$
$
$$
(7)
(8)
(9)
(10)
(11)
(12)
(13)
$
$
$
$
$
$
$
(14)
(15)
(16)
(17)
(18)
$
(19)
$
(20)
$
(21)
(22)
(23)
(24)
(25)
(26)
(27)
$
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
$
(38)
$
(39)
(40)
(41)
(42)
(43)
(44)
$
(45)
(46)
(47)
(48)
(49)
$$$$$
(50)
Total Leases and Other Comittments
1,875,000.00
$
1,875,000.00
Capital Leases - Not in Gross
Page 1