2013 Middlesex Borough Municipal Audits

This document presents the financial statements and supplementary data for the Borough of Middlesex, New Jersey, for the years ended December 31, 2013, and 2012, along with the report of independent auditors, Hodulik & Morrison, P.A. The audit encompasses various funds, including the Current Fund, Trust Fund, General Capital Fund, and Swimming Pool Utility Fund, examining their respective balance sheets, statements of operations, revenues, and expenditures on a regulatory basis. It expresses an adverse opinion on U.S. Generally Accepted Accounting Principles due to the regulatory basis of accounting employed, which focuses on compliance with legal provisions and budgetary restrictions rather than presenting financial position and results of operations in accordance with GAAP. A qualified opinion is provided on the regulatory basis of accounting with exception of the omission of a statement of governmental fixed assets.