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Executive Summary
This document is the audit report for Middlesex Borough, New Jersey, for the year ending December 31, 2019. The audit includes an independent auditor's report, financial statements for various funds (Current Fund, Trust Fund, General Capital Fund, Swimming Pool Utility Fund), and notes to those financial statements. It also includes reports on internal control over financial reporting and compliance based on an audit of financial statements performed in accordance with Government Auditing Standards.
The document contains detailed statements of assets, liabilities, reserves, and fund balances, statements of operations and changes in fund balance, and statements of revenues and expenditures. Supplementary exhibits include schedules of cash, change funds, taxes receivable, nonbudget revenues, interfunds, appropriation reserves, sewer flow charges receivable, and various payables and reserves.
The audit expresses an adverse opinion on accounting principles generally accepted in the United States of America (GAAP) and an unmodified opinion on the regulatory basis of accounting.
Web Content
Automated discovery link found on Middlesex website.
Document Text
--- Document: 2019 Middlesex Borough Municipal Audit Document ---
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NOW THEREFORE, BE IT RESOLVED, that if said taxes are deemed to be delinquent for non-
payment of taxes, the Tax Collector shall charge eight (8%) percent per annum on the first
$1,500.00 of the delinquency, and eighteen (18%) percent per annum on any amount in excess of
$1,500.00; and
BE IT FURTHER RESOLVED, by the Borough Council of the Borough of Council, that the Tax
Collector shall allow that no interest will be charged on payments received and made by the tenth
calendar day following the date upon which the same became payable; and
BE IT FURTHER RESOLVED, by the Borough Council of the Borough of Middlesex, that the Tax
Collector shall charge, in addition to the interest for delinquent taxes, as noted above, a penalty
of six (6%) percent of the amount of the delinquency in taxes in excess of $10,000.00 to a
taxpayer who fails to pay the delinquency prior to the end of the calendar year.
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