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Annual Financial Statement (Unaudited)
BID #: N/A
DUE: 2/10/2025
VALUE: TBD
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Executive Summary
The document is the Annual Financial Statement (Unaudited) for the Borough of North Arlington, Bergen County, New Jersey, for the year 2024. It includes certifications by the Chief Financial Officer and Registered Municipal Accountant, along with detailed financial statements covering various funds such as Current Fund, Grant Funds, Trust Funds, and General Capital Fund. Key information includes cash balances, debt schedules, tax collections, and budgetary information. The report also highlights compliance with New Jersey Statutes Annotated 40A:5-12, as amended, and information required for budget certification by the Division of Local Government Services. Penalties apply for late filings, with deadlines of January 26, 2025, for counties and February 10, 2025, for municipalities.
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Document Text
--- Document: Annual Financial Statement (Unaudited) Document ---
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
214 Ridge Road
Sheet 1
201-991-6060
201-991-0140
ssanzari@northarlington.org
Examined By:
Preliminary Check
NORTH ARLINGTON
BERGEN
BOROUGH
Examined
plerch@lvhcpa.com
Registered Municipal Accountant
Stephen Sanzari
N-0546
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
16,457
0239
2,464,136,730
MUNICIPALITIES - FEBRUARY 10, 2025
BERGEN
NORTH ARLINGTON
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
17
day
, 2025
Lerch, Vinci & Bliss LLP
(Firm Name)
NORTH ARLINGTON
BOROUGH
April
Paul J. Lerch
(Registered Municipal Accountant)
Sheet 1a
(Address)
201-791-7100
17-17 Route 208N
(Address)
201-791-3035
(Phone Number)
(Fax Number)
Fair Lawn, NJ 07410
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)
2
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
N-0546
ssanzari@northarlington.org
Sheet 1b
CERTIFICATION OF NON-QUALIFYING MUNICIPALITY
BOROUGH OF NORTH ARLINGTON
Stephen Sanzari
BOROUGH OF NORTH ARLINGTON
4/17/25
Fiscal Year Ending:
(1)
(3)
Federal programs
Expended
Other Federal
(administered by
Programs
the state)
Expended
$
$
$
853,137.00
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.
4/17/25
Date
Report of Federal and State Financial Assistance
Expenditures of Awards
22-6002115
Fed I.D. #
BOROUGH OF NORTH ARLINGTON
Municipality
BERGEN
County
Sheet 1c
December 31, 2024
(2)
Programs
Expended
State
ssanzari@northarlington.org
Signature of Chief Financial Officer
TOTAL
137,950.00
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
BERGEN
BOROUGH OF NORTH ARLINGTON
COUNTY
IMPORTANT !
READ INSTRUCTIONS
MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2024
NORTH ARLINGTON
SIGNATURE OF TAX ASSESSOR
BERGEN
2,611,875,300.00
BOROUGH
Stephen Sanzari
CFO
George Reggo
Debit
Credit
CASH
14,269,010.00
INVESTMENTS
DUE FROM/TO STATE - VETERANS AND SENIOR CITIZENS
41,117.00
-
GRANTS RECEIVABLE
460,003.00
PREPAID PAYROLL
Receivables with Full Reserves:
TAXES RECEIVABLE:
PRIOR
134.00
CURRENT
631,492.00
SUBTOTAL
631,626.00
TAX TITLE LIENS RECEIVABLE
59,713.00
PROPERTY ACQUIRED FOR TAXES
-
CONTRACT SALES RECEIVABLE
-
MORTGAGE SALES RECEIVABLE
-
DUE FROM - ANIMAL CONTROL TRUST FUND
37,027.00
PREPAID PAYROLL
425,251.00
DEFERRED CHARGES:
EMERGENCY
49,500.00
SPECIAL EMERGENCY (40A:4-55)
-
DEFICIT
-
Page Totals:
15,973,247.00
-
(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
15,973,247.00
-
APPROPRIATION RESERVES
2,708,469.00
ENCUMBRANCES PAYABLE - CURRENT FUND
326,835.00
ENCUMBRANCES PAYABLE - GRANTFUND
169,519.00
CONTRACTS PAYABLE
41,445.00
TAX OVERPAYMENTS
10,165.00
PREPAID TAXES
335,628.00
DUE TO STATE:
FEES PAYABLE
21,204.00
LOCAL SCHOOL TAX PAYABLE
-
REGIONAL SCHOOL TAX PAYABLE
-
REGIONAL H.S.TAX PAYABLE
-
COUNTY TAX PAYABLE
-
DUE COUNTY - ADDED & OMMITTED
2,166.00
SPECIAL DISTRICT TAX PAYABLE
-
RESERVE FOR TAX APPEAL
1,929,974.00
338,249.00
537,290.00
218,973.00
315,638.00
615,390.00
PAGE TOTAL
15,973,247.00
7,570,945.00
(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
DUE TO - OTHER TRUST FUND
DUE TO - GENERAL CAPITAL FUND
DUE TO - PUBLIC LIBRARY
RESERVE FOR FEDERAL AND STATE GRANTS - UNAPPROPRIATED
RESERVE FOR FEDERAL AND STATE GRANTS - APPROPRIATED
Debit
Credit
TOTALS FROM PAGE 3a
15,973,247.00
7,570,945.00
SUBTOTAL
15,973,247.00
7,570,945.00
"C"
RESERVE FOR RECEIVABLES
1,153,617.00
DEFERRED SCHOOL TAX
-
DEFERRED SCHOOL TAX PAYABLE
-
FUND BALANCE
7,248,685.00
TOTALS
15,973,247.00
15,973,247.00
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
-
GRANTS RECEIVABLE
460,003.00
REPORTED IN CURRENT FUND
(460,003.00)
Encumbrance Payable
169,519.00
REPORTED IN CURRENT FUND
(1,100,547.00)
APPROPRIATED RESERVES
615,390.00
UNAPPROPRIATED RESERVES
315,638.00
TOTALS
-
-
Title of Account
(Do not crowd - add additional sheets)
Sheet 5
POST CLOSING TRIAL BALANCE
FEDERAL AND STATE GRANTS
AS AT DECEMBER 31, 2024
Debit
Credit
ANIMAL CONTROL TRUST FUND
CASH
53,013.00
DUE FROM STATE OF NJ
1,147.00
DUE TO CURRENT FUND
37,027.00
RESERVE FOR ANIMAL CONTROL TRUST FUND
17,133.00
FUND TOTALS
54,160.00
54,160.00
ASSESSMENT TRUST FUND
CASH
-
DUE TO -
RESERVE FOR:
FUND TOTALS
-
-
MUNICIPAL OPEN SPACE TRUST FUND
CASH
-
FUND TOTALS
-
-
LOSAP TRUST FUND
CASH
-
FUND TOTALS
-
-
Title of Account
Sheet 6
POST CLOSING
TRIAL BALANCE - TRUST FUNDS
AS AT DECEMBER 31, 2024
(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
3,425,833.00
DUE FROM CURRENT FUND
338,249.00
DUE FROM UNEMPLOYMENT TRUST FUND
116,461.00
MISCELLANEOUS RESERVES
3,782,796.00
RESERVE FOR LIBRARY EXPENDITURES
91,083.00
RESERVE FOR THIRD PARTY AMBULANCE BILLINGS
6,664.00
OTHER TRUST FUNDS PAGE TOTAL
3,880,543.00
3,880,543.00
Title of Account
(Do not crowd - add additional sheets)
Sheet 6.1
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
AS AT DECEMBER 31, 2024
(Assessment Section Must Be Separately Stated)
Debit
Credit
Previous Totals
3,880,543.00
3,880,543.00
OTHER TRUST FUNDS (continued)
UNEMPLOYMENT TRUST FUND
CASH
282,014.00
RESERVE FOR UNEMPLOYMENT
165,553.00
DUE TO OTHER TRUST FUND
116,461.00
TOTALS
4,162,557.00
4,162,557.00
Sheet 6.2
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)
Debit
Credit
Previous Totals
4,162,557.00
4,162,557.00
OTHER TRUST FUNDS (continued)
TOTALS
4,162,557.00
4,162,557.00
Sheet 6. TOTALS
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)
Amount
Dec. 31, 2023
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2024
Escrow Deposits
220,754.00
60,587.00
53,421.00
227,920.00
Premium on Tax Sale
328,700.00
39,500.00
108,648.00
259,552.00
William Swellick Memorial Fund
6,105.00
6,105.00
Domestic Partners
25.00
25.00
Lien Redemptions
97,302.00
691,844.00
691,844.00
97,302.00
P.O.A.A.
49,224.00
5,034.00
54,258.00
Municipal Alliance Donations
85,169.00
2,025.00
87,194.00
Fire Prevention - Fines and Penalties
16,153.00
16,153.00
Recreation
625.00
625.00
Accumulated Leave
1,439,824.00
1,439,824.00
Police - Fund Drive
15,278.00
82,818.00
56,984.00
41,112.00
Storm Trust
799,957.00
799,957.00
Community Development
25,000.00
25,000.00
-
Military Banners
5,214.00
2,700.00
2,988.00
4,926.00
Opioid Settlement
22,187.00
40,822.00
10,250.00
52,759.00
Miscellaneous
22,232.00
461.00
8,676.00
14,017.00
Library Expenditures
332,692.00
-
-
332,692.00
COAH
-
348,375.00
-
348,375.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
3,466,441.00
$
1,274,166.00
$
957,811.00
$
3,782,796.00
Sheet 6b
Purpose
SCHEDULE OF TRUST FUND RESERVES
Amount
Dec. 31, 2023
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2024
PREVIOUS PAGE TOTAL
3,466,441.00
1,274,166.00
957,811.00
3,782,796.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
3,466,441.00
$
1,274,166.00
$
957,811.00
$
3,782,796.00
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, 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
1,351,119.00
xxxxxxxxx
Bonds and Notes Authorized but Not Issued
xxxxxxxxx
1,351,119.00
CASH
10,077,206.00
DUE FROM - CURRENT FUND
537,290.00
FEDERAL AND STATE GRANTS RECEIVABLE
428,880.00
DEFERRED CHARGES TO FUTURE TAXATION:
FUNDED
3,114,000.00
UNFUNDED
9,288,218.00
PAGE TOTALS
24,796,713.00
1,351,119.00
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
24,796,713.00
1,351,119.00
BOND ANTICIPATION NOTES PAYABLE
8,030,000.00
GENERAL SERIAL BONDS
3,114,000.00
TYPE 1 SCHOOL BONDS
-
LOANS PAYABLE
-
CAPITAL LEASES PAYABLE
-
IMPROVEMENT AUTHORIZATIONS:
FUNDED
1,029,323.00
UNFUNDED
3,073,077.00
ENCUMBRANCES PAYABLE
4,334,224.00
1,208,203.00
RESERVE TO PAY BANS
CAPITAL IMPROVEMENT FUND
885,420.00
DOWN PAYMENTS ON IMPROVEMENTS
-
CAPITAL FUND BALANCE
1,771,347.00
24,796,713.00
24,796,713.00
RESERVE FOR PAYMENT OF DEBT
Sheet 8.1
POST CLOSING
TRIAL BALANCE -- GENERAL CAPITAL FUND
AS AT DECEMBER 31, 2024
Title of Account
(Do not crowd - add additional sheets)
Less Checks
Cash Book
*On Hand
On Deposit
Outstanding
Balance
452,984.00
14,726,699.00
910,673.00
14,269,010.00
-
140,157.00
87,144.00
53,013.00
-
-
-
-
620,460.00
2,860,732.00
55,359.00
3,425,833.00
-
155,903.00
10,183,354.00
262,051.00
10,077,206.00
282,014.00
282,014.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total
1,229,347.00
28,192,956.00
1,315,227.00
28,107,076.00
* 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
Stephen Sanzari
CFO
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
Trust - Unemployment
UTILITIES:
Current Fund
Valley National Bank - Checking
11,855,474.00
Valley National Bank - Grants
182,594.00
Valley National Bank - CDBG Grants
242,335.00
Valley National Bank - Merchant Services
2,394,328.00
Kearny Bank - Savings
51,968.00
General Capital Fund
Valley National Bank - Checking
10,183,354.00
Animal Control Trust Fund
Valley National Bank - Checking
140,157.00
Unemployment Trust Fund
Valley National Bank - Checking
282,014.00
Other Trust Fund
General Trust - Valley National Bank
2,191,422.00
Lien Redemption - Valley National Bank
116,011.00
Escrow - Valley National Bank
393,776.00
Payroll - Valley National Bank
47,865.00
Redevelopment - Valley National Bank
10,216.00
Bond Redemption - Kearny Bank
3,695.00
Library Checking - Valley National Bank
79,130.00
Library Savings CD - Valley National Bank
11,953.00
Valley National Bank - Ambulance Billing
6,664.00
PAGE TOTAL
28,192,956.00
Sheet 9a
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.
PREVIOUS PAGE TOTAL
28,192,956.00
TOTAL PAGE
28,192,956.00
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
Municipal Alliance
10,000.00
10,000.00
Bullet Proof Vest Partnership
9,847.00
9,847.00
Assistance to Firefighters
9,463.00
9,463.00
Fire Department Saver Grant
74,437.00
74,437.00
-
Bergen County Open Space - Daniel Morris and
-
Columbus Park Improvements
19,250.00
19,250.00
-
Body Worn Camera Grant
8,152.00
8,152.00
Municipal Alliance on Alcohol and Drug Abuse
4,507.00
4,007.00
500.00
-
CARES Act Grant Fire Dept
19,899.00
19,899.00
-
Municipal Alliance
-
-
State Share
4,507.00
4,507.00
Bergen County Open Space Grant-
-
-
Fischer Field
69,668.00
69,668.00
Child, Centennial Park
43,604.00
43,604.00
DMHAS Youth Leadership Grant
4,620.00
4,620.00
-
PAGE TOTALS
277,954.00
-
19,899.00
-
4,007.00
254,048.00
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
277,954.00
-
19,899.00
-
4,007.00
254,048.00
BC CDBG Beech & Argyle STS Tree Planting
17,115.00
17,115.00
River Road Redevelopment Project Parcel
188,840.00
188,840.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTALS
483,909.00
-
19,899.00
-
4,007.00
460,003.00
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
483,909.00
-
19,899.00
-
4,007.00
460,003.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TOTALS
483,909.00
-
19,899.00
-
4,007.00
460,003.00
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
Body Armor Fund
3,854.00
3,854.00
-
Drunk Driving Enforcement Fund
2,609.00
3,634.00
1,312.00
4,931.00
Alcohol Education and Rehabilitation Fund
17,960.00
17,960.00
Drive Sober or Get Pulled Over
5,500.00
5,500.00
Clean Communities
168,126.00
31,178.00
30,935.00
168,369.00
Body Worn Cameras
81,520.00
81,520.00
Recycling Tonnage Grant
58,167.00
22,268.00
35,899.00
Assistance to Firefighters
-
-
Grant
-
-
Match
238.00
238.00
Highway Safety Seat Belts
4,000.00
4,000.00
Strengthening Families
3,516.00
3,516.00
Municipal Alliance
-
-
State Share
4,507.00
4,007.00
500.00
Local Match
4,001.00
3,000.00
1,001.00
Fire Department Saver Grant
39,542.00
3,183.00
36,359.00
Fire Hydrants - PVSC
17,350.00
34,500.00
36,250.00
15,600.00
Emergency Management
10,000.00
10,000.00
Beech & Argyle STS Tree Planting - Bergen County
-
(8,665.00)
8,665.00
PAGE TOTALS
420,890.00
69,312.00
-
92,137.00
-
4,007.00
394,058.00
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
420,890.00
69,312.00
-
92,137.00
-
4,007.00
394,058.00
Bergen County Prosecutor - Police Radios
-
-
Arbor Day Grant - County
1,000.00
1,000.00
-
-
FEMA - CARES Act Grant
41,332.00
41,332.00
-
-
County Share
19,250.00
19,250.00
Local Match
19,250.00
19,250.00
Maintenance of Free Public Library - Local Share
-
-
NJ Library Construction Bond Act
64,320.00
28,600.00
35,720.00
DMHAS Youth Leadership Grant
4,620.00
4,620.00
River Road Redevelopment Project Parcel
188,840.00
188,840.00
-
Bergen County Open Space Grant-
-
Fischer Field
30,470.00
30,470.00
Child, Centennial Park
43,604.00
43,604.00
-
Storm Water Grant
15,000.00
15,000.00
CARES Act
8,438.00
8,438.00
Hazardious Waste Grant
32,347.00
32,347.00
State Library Aid
-
13,905.00
13,905.00
PAGE TOTALS
833,576.00
139,002.00
-
353,181.00
-
4,007.00
615,390.00
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
833,576.00
139,002.00
-
353,181.00
-
4,007.00
615,390.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTALS
833,576.00
139,002.00
-
353,181.00
-
4,007.00
615,390.00
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
833,576.00
139,002.00
-
353,181.00
-
4,007.00
615,390.00
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TOTALS
833,576.00
139,002.00
-
353,181.00
-
4,007.00
615,390.00
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
-
-
-
-
-
-
Body Armor
2,916.00
2,916.00
Clean Communities
31,178.00
31,178.00
35,413.00
35,413.00
Recycling Tonnage Grant
30,221.00
30,221.00
Alcohol Education and Rehabilitation
-
368.00
368.00
Distracted Driving Incentive
6,720.00
6,720.00
The Hampshire Fund
240,000.00
240,000.00
Drunk Driving Enforcement Fund
3,634.00
3,634.00
-
Storm Water
15,000.00
15,000.00
-
American Rescue Plan
841,516.00
841,516.00
-
CARES Act
8,438.00
8,438.00
-
Hazardous Waste Grant
32,347.00
32,347.00
-
-
-
-
-
-
-
-
TOTALS
932,113.00
932,113.00
-
315,638.00
-
315,638.00
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
30,884,196.00
Paid
30,884,196.00
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
30,884,196.00
30,884,196.00
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
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.
-
-
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
Due County for Added and Omitted Taxes
xxxxxxxxxxx
2024 Levy:
xxxxxxxxxxx
xxxxxxxxxx
General County
xxxxxxxxxxx
5,692,782.00
County Library
xxxxxxxxxxx
County Health
xxxxxxxxxxx
County Open Space Preservation
xxxxxxxxxxx
255,858.00
Due County for Added and Omitted Taxes
xxxxxxxxxxx
2,166.00
Paid
5,948,640.00
xxxxxxxxxx
Balance - December 31, 2024
xxxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxx
Due County for Added and Omitted Taxes
2,166.00
xxxxxxxxxx
5,950,806.00
5,950,806.00
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
4,277,766.00
4,277,766.00
-
Surplus Anticipated with Prior Written Consent of
Director of Local Government Services
-
Miscellaneous Revenue Anticipated:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Adopted Budget
5,578,440.00
6,668,144.00
1,089,704.00
Added by N.J.S.A. 40A:4-87 (List on 17a)
-
-
-
-
-
Total Miscellaneous Revenue Anticipated
5,578,440.00
6,668,144.00
1,089,704.00
Receipts from Delinquent Taxes
400,000.00
452,747.00
52,747.00
Amount to be Raised by Taxation:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
(a) Local Tax for Municipal Purposes
19,056,974.00
xxxxxxxxx
xxxxxxxxx
(b) Addition to Local District School Tax
xxxxxxxxx
xxxxxxxxx
(c) Minimum Library Tax
877,533.00
xxxxxxxxx
xxxxxxxxx
Total Amount to be Raised by Taxation
19,934,507.00
20,699,198.00
764,691.00
30,190,713.00
32,097,855.00
1,907,142.00
Debit
Credit
Current Taxes Realized in Cash (Total of Item 10 or 14 on Sheet 22)
xxxxxxxxx
56,109,200.00
Amount to be Raised by Taxation
xxxxxxxxx
xxxxxxxxx
Local District School Tax
30,884,196.00
xxxxxxxxx
Regional School Tax
-
xxxxxxxxx
Regional High School Tax
-
xxxxxxxxx
County Taxes
5,948,640.00
xxxxxxxxx
Due County for Added and Omitted Taxes
2,166.00
xxxxxxxxx
Special District Taxes
-
xxxxxxxxx
Municipal Open Space Tax
xxxxxxxxx
Municipal Arts and Culture Tax
xxxxxxxxx
Reserve for Uncollected Taxes
xxxxxxxxx
1,425,000.00
Deficit in Required Collection of Current Taxes (or)
xxxxxxxxx
-
Balance for Support of Municipal Budget (or)
20,699,198.00
xxxxxxxxx
*Excess Non-Budget Revenue (see footnote)
xxxxxxxxx
*Deficit Non-Budget Revenue (see footnote)
xxxxxxxxx
57,534,200.00
57,534,200.00
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
Stephen Sanzari
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
Stephen Sanzari
2024 Budget As Adopted
30,190,713.00
2024 Budget - Added by N.J.S.A. 40A:4-87
-
Appropriated for 2024 (Budget Statement Item 9)
30,190,713.00
Appropriated for 2024 by Emergency Appropriation (Budget Statement Item 9)
49,500.00
Total General Appropriations (Budget Statement Item 9)
30,240,213.00
Add: Overexpenditures (see footnote)
Total Appropriations and Overexpenditures
30,240,213.00
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
26,105,326.00
Paid or Charged - Reserve for Uncollected Taxes
1,425,000.00
Reserved
2,708,469.00
Total Expenditures
30,238,795.00
Unexpended Balances Canceled (see footnote)
1,418.00
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
1,089,704.00
Delinquent Tax Collections
xxxxxxxxx
52,747.00
xxxxxxxxx
Required Collection of Current Taxes
xxxxxxxxx
764,691.00
Unexpended Balances of 2024 Budget Appropriations
xxxxxxxxx
1,418.00
Miscellaneous Revenue Not Anticipated
xxxxxxxxx
557,714.00
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
1,454,449.00
Prior Years Interfunds Returned in 2024
xxxxxxxxx
37,027.00
PY Sr/Vets Disallowed
250.00
Cancelled of Prior Year Account Payable
41,000.00
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
37,027.00
xxxxxxxxx
PY Sr/Vets Allowed
4,500.00
Increase in Prepaid Expenses
425,251.00
Deficit Balance - To Trial Balance (Sheet 3)
xxxxxxxxx
-
Surplus Balance - To Surplus (Sheet 21)
3,532,222.00
xxxxxxxxx
3,999,000.00
3,999,000.00
Sheet 19
RESULTS OF 2024 OPERATIONS
CURRENT FUND
-
xxxxxxxxx
Amount Realized
PREVIOUS PAGE TOTALS
-
Police Admin
155,693.00
Library Refund PY
153,294.00
LOSAP Forfeitures
92,861.00
Worker's Compensation Refunds
49,440.00
Summer Camp Fees
28,090.00
Auction Proceeds
20,299.00
Insurance Claim Proceeds
18,865.00
Miscellanous
9,798.00
FEMA Reimbursement
8,002.00
Prior Year Refunds
4,290.00
Police Range Fees
3,150.00
Clothing Bin Fees
2,700.00
Bergen County Elections Reimbursement
2,419.00
PVMC Rebate
2,037.00
Newspaper Ad Fees
1,950.00
Road Inspection Fees
1,650.00
JIF Insurance Award
1,300.00
SR/VETS Admin Fee
960.00
PILOT
916.00
Total Amount of Miscellaneous Revenues Not Anticipated (Sheet 19)
557,714.00
SCHEDULE OF MISCELLANEOUS REVENUES
NOT ANTICIPATED
Source
Sheet 20 Totals
Debit
Credit
1.
Balance - January 1, 2024
xxxxxxxxx
7,994,229.00
2.
xxxxxxxxx
3.
Excess Resulting from 2024 Operations
xxxxxxxxx
3,532,222.00
4.
Amount Appropriated in the 2024 Budget - Cash
4,277,766.00
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
7,248,685.00
xxxxxxxxx
11,526,451.00
11,526,451.00
Cash
14,269,010.00
Investments
Grants Receivable/Prepaid Payroll
460,003.00
Sub Total
14,729,013.00
Deduct Cash Liabilities Marked with "C" on Trial Balance
7,570,945.00
Cash Surplus
7,158,068.00
Deficit in Cash Surplus
Other Assets Pledged to Surplus:*
41,117.00
Deferred Charges #
49,500.00
Cash Deficit #
Total Other Assets
90,617.00
* IN THE CASE OF A "DEFICIT IN CASH SURPLUS", "OTHER ASSETS"
7,248,685.00
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.J.S.A.
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 2024
ANALYSIS OF BALANCE AS AT DECEMBER 31, 2024
(FROM CURRENT FUND - TRIAL BALANCE)
1.
Amount of Levy as per Duplicate (Analysis) #
$
56,773,710.00
or
(Abstract of Ratables)
$
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.
$
20,534.00
5a.
Subtotal 2024 Levy
$
56,794,244.00
5b.
Reductions Due to Tax Appeals**
$
5c.
Total 2024 Tax Levy
$
56,794,244.00
6.
Transferred to Tax Title Liens
$
16,027.00
7.
Transferred to Foreclosed Property
$
8.
Remitted, Abated or Canceled
$
37,525.00
9.
Discount Allowed
$
10.
Collected in Cash: In 2023
$
184,841.00
In 2024*
$
55,872,359.00
Homestead Benefit Credit
$
State's Share of 2024 Senior Citizens
and Veterans Deductions Allowed
$
52,000.00
Total To Line 14
$
56,109,200.00
11.
Total Credits
$
56,162,752.00
12.
Amount Outstanding December 31, 2024
$
631,492.00
13.
Percentage of Cash Collections to Total 2024 Levy,
(Item 10 divided by Item 5c) is
98.79%
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
$
56,109,200.00
Less: Reserve for Tax Appeals Pending
State Division of Tax Appeals
$
To Current Taxes Realized in Cash (Sheet 17)
$
56,109,200.00
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)
$
56,109,200.00
LESS : Proceeds from Accelerated Tax Sale
Net Cash Collected
$
56,109,200.00
Line 5c (sheet 22) Total 2024 Tax Levy
$
56,794,244.00
Percentage of Collection Excluding Accelerated Tax Sale Proceeds
(Net Cash Collected divided by Item 5c) is
98.79%
(2) Utilizing Tax Levy Sale
Total of Line 10 Collected in Cash (sheet 22)
$
56,109,200.00
LESS : Proceeds from Tax Levy Sale (excluding premium)
Net Cash Collected
$
56,109,200.00
Line 5c (sheet 22) Total 2024 Tax Levy
$
56,794,244.00
Percentage of Collection Excluding Tax Levy Sale Proceeds
(Net Cash Collected divided by Item 5c) is
98.79%
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
42,327.00
xxxxxxxxx
Due To State of New Jersey
xxxxxxxxx
2.
Senior Citizens Deductions Per Tax Billings
6,500.00
xxxxxxxxx
3.
Veterans Deductions Per Tax Billings
45,000.00
xxxxxxxxx
4.
Deductions Allowed By Tax Collector
500.00
xxxxxxxxx
5.
Deductions Allowed By Tax Collector - Prior Year Taxes (2023)
250.00
6.
7.
Deductions Disallowed By Tax Collector
xxxxxxxxx
8.
Deductions Disallowed By Tax Collector - Prior Year Taxes (2023)
xxxxxxxxx
4,500.00
9.
Received in Cash from State
xxxxxxxxx
48,960.00
10.
11.
12.
Balance - December 31, 2024
xxxxxxxxx
xxxxxxxxx
Due From State of New Jersey
xxxxxxxxx
41,117.00
Due To State of New Jersey
-
xxxxxxxxx
94,577.00
94,577.00
Calculation of Amount to be included on Sheet 22, Item 10 -
2024 Senior Citizens and Veterans Deductions Allowed
Line 2
6,500.00
Line 3
45,000.00
Line 4
500.00
Sub - Total
52,000.00
Less: Line 7
-
To Item 10, Sheet 22
52,000.00
SCHEDULE OF DUE FROM / TO STATE OF NEW JERSEY
FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Sheet 23
Debit
Credit
Balance - January 1, 2024
xxxxxxxxxx
1,956,126.00
Taxes Pending Appeals
1,956,126.00
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)
26,152.00
xxxxxxxxx
Closed to Results of Operation
(Portion of Appeal won by Municipality, including Interest)
xxxxxxxxx
Balance - December 31, 2024
1,929,974.00
xxxxxxxxx
Taxes Pending Appeals*
1,929,974.00
xxxxxxxxx
xxxxxxxxx
Interest Earned on Taxes Pending Appeals
xxxxxxxxx
xxxxxxxxx
*Includes State Tax Court and County Board of Taxation
1,956,126.00
1,956,126.00
Appeals Not Adjusted by December 31, 2024
Apr-25
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)
Vibha Desai
T-1503
1.
Balance - January 1, 2024
665,665.00
xxxxxxxxx
A. Taxes
506,920.00
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
158,745.00
xxxxxxxxx
xxxxxxxxx
2.
Canceled:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
58,539.00
B. Tax Title Liens
xxxxxxxxx
115,189.00
3.
Transferred to Foreclosed Tax Title Liens:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
4.
Added Taxes
4,500.00
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
496,437.00
8.
Totals
670,165.00
670,165.00
9.
Balance Brought Down
496,437.00
xxxxxxxxx
10. Collected:
xxxxxxxxx
452,747.00
A. Taxes
452,747.00
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
xxxxxxxxx
11. Interest and Costs - 2024 Tax Sale
130.00
xxxxxxxxx
12. 2024 Taxes Transferred to Liens
16,027.00
xxxxxxxxx
13. 2024 Taxes
631,492.00
xxxxxxxxx
14. Balance - December 31, 2024
xxxxxxxxx
691,339.00
A. Taxes
631,626.00
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
59,713.00
xxxxxxxxx
xxxxxxxxx
15.
Totals
1,144,086.00
1,144,086.00
16. Percentage of Cash Collections to Adjusted Amount Outstanding
(Item No. 10 divided by Item No. 9) is
91.19%
17. Item No.14 multiplied by percentage shown above is
630,432.03
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*
$
$
$
49,500.00
$
49,500.00
Emergency Authorization -
Schools
$
$
$
$
-
Overexpenditure of Appropriations
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
TOTAL DEFERRED CHARGES
$
-
$
-
$
49,500.00
$
49,500.00
*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
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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
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
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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
Chief Financial Officer
2024
Debit
Outstanding - January 1, 2024
xxxxxxxxx
Issued
xxxxxxxxx
Paid
1,875,000.00
Outstanding - December 31, 2024
3,114,000.00
4,989,000.00
2025 Bond Maturities - General Capital Bonds
$
2025 Interest on Bonds*
$
92,560.00
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
4,989,000.00
1,880,000.00
xxxxxxxxx
92,560.00
xxxxxxxxx
-
xxxxxxxxx
xxxxxxxxx
4,989,000.00
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
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
-
-
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
LOAN
2025 Debt Service
Credit
xxxxxxxxx
xxxxxxxxx
Purpose
-
-
xxxxxxxxx
-
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
2304 Various Public Impvts and Acquisitions
2,800,000.00
11/12/20
914,750.00
08/01/25
4.5000%
Permanent Financin
41,163.75
08/01/25
2305 Various Interior Renovations
1,100,000.00
11/12/20
550,000.00
08/01/25
4.5000%
Permanent Financin
24,750.00
08/01/25
2310 Acq. Of New Pumper Fire Engine
600,000.00
11/12/20
200,000.00
08/01/25
4.5000%
Permanent Financin
9,000.00
08/01/25
2337 - Various Acquisitions
519,000.00
11/9/22
369,000.00
08/01/25
4.5000%
Permanent Financin
16,605.00
08/01/25
2345 - Various Interior Renovations
879,749.00
11/9/22
674,950.00
08/01/25
4.5000%
Permanent Financin
30,372.75
08/01/25
399,200.00
8/4/23
349,200.00
08/01/25
4.5000%
Permanent Financin
15,714.00
08/01/25
1,099,050.00
8/4/23
1,049,100.00
08/01/25
4.5000%
Permanent Financin
47,209.50
08/01/25
2,000,000.00
8/1/24
2,000,000.00
08/01/25
4.5000%
90,000.00
08/01/25
1,923,000.00
8/1/24
1,923,000.00
08/01/25
4.5000%
86,535.00
08/01/25
Page Totals
11,319,999.00
8,030,000.00
-
361,350.00
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
2361 - Various Public Improvements and
2365 - Fischer Field Playground and Park Imp
2380 - Various Public Improvements and Acq
2400 - Acq & Install Police Communications Sys
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
11,319,999.00
8,030,000.00
-
361,350.00
PAGE TOTALS
11,319,999.00
8,030,000.00
-
361,350.00
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
11,319,999.00
8,030,000.00
-
361,350.00
PAGE TOTALS
11,319,999.00
8,030,000.00
-
361,350.00
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
15-2162 - Various Public Improvements
664,571.00
37,211.00
701,782.00
-
17-2228 - Various Public Improvements and Acquisitions
543,632.00
543,632.00
-
19-2261 - Installation of Turf Fields
39,921.00
1,850.00
38,071.00
-
19-2277 - Various Improvements and Acquisitions
401,729.00
19,000.00
4,970.00
4,970.00
420,729.00
-
20-2291 - Purchase and Installation of Computer System
13,030.00
13,030.00
20-2304 - Various Public Improvements and Acquisitions
-
755,425.00
102,960.00
145,300.00
-
713,085.00
20-2305 - Various Interior Renovations
-
71,472.00
23,403.00
1,417.00
-
93,458.00
20-2306 - Purchase of one Police Sport Utility Vehicle
120.00
60.00
60.00
20-2310/23-2381 - Acquisition of a New Pumper Fire Engin
-
269,490.00
799,910.00
880,485.00
-
188,915.00
20-2314 - Acquisition of New Automotive Vehicles
-
8,823.00
20,649.00
22,564.00
6,408.00
500.00
21-2334 - New Roof Boro Hall & Senior Citizen Center
300.00
-
300.00
-
21-2336 - Various Interior Renovations
55,813.00
67,000.00
122,813.00
-
21-2337 - Various Acquisitions
-
43,125.00
1,902.00
-
41,223.00
22-2345 - Various Interior Renovations
-
65,188.00
19,583.00
20,070.00
-
64,701.00
22-2361 - Various Public Improvements and Acquisitions
-
25,409.00
114,963.00
73,253.00
-
67,119.00
22-2365 - Fisher Field Playground and Park Improvements
-
350,437.00
14,485.00
7,492.00
-
357,430.00
23-2380 - Various Public Improvements and Acquisitions
-
1,233,714.00
1,054,495.00
1,805,114.00
-
483,095.00
23-2388 - Public Safety 911 Call Station
13,736.00
261,264.00
261,264.00
13,736.00
Page Total
1,732,852.00
2,946,294.00
-
2,416,682.00
3,225,741.00
1,704,514.00
156,047.00
2,009,526.00
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
1,732,852.00
2,946,294.00
-
2,416,682.00
3,225,741.00
1,704,514.00
156,047.00
2,009,526.00
24-2400 - Acq & Install Police Communications System
-
2,383,000.00
2,000,916.00
-
382,084.00
24-2402 - Improvements to Macaluso Park
-
116,000.00
116,000.00
-
24-2408 - Improve ro Childrens Centennial Park
-
270,026.00
270,026.00
-
24-2409 - Allan Park Sports Field Lighting Improve
-
445,626.00
445,626.00
-
24-2417 - Purchase and install hydro defense system DPW
-
275,000.00
200,000.00
75,000.00
-
24-2419 - Purchase one hydraulic wood chipper w access
-
80,000.00
77,883.00
2,117.00
24-2427 - 2024 Road Improvement Program
-
916,000.00
234,533.00
681,467.00
PAGE TOTALS
1,732,852.00
2,946,294.00
4,485,652.00
2,416,682.00
5,774,566.00
1,704,514.00
1,029,323.00
3,073,077.00
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
1,732,852.00
2,946,294.00
4,485,652.00
2,416,682.00
5,774,566.00
1,704,514.00
1,029,323.00
3,073,077.00
PAGE TOTALS
1,732,852.00
2,946,294.00
4,485,652.00
2,416,682.00
5,774,566.00
1,704,514.00
1,029,323.00
3,073,077.00
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
1,732,852.00
2,946,294.00
4,485,652.00
2,416,682.00
5,774,566.00
1,704,514.00
1,029,323.00
3,073,077.00
GRAND TOTALS
1,732,852.00
2,946,294.00
4,485,652.00
2,416,682.00
5,774,566.00
1,704,514.00
1,029,323.00
3,073,077.00
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
1,733,672.00
Received from 2024 Budget Appropriation*
xxxxxxxxx
500,000.00
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
1,348,252.00
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2024
885,420.00
xxxxxxxxx
2,233,672.00
2,233,672.00
*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.
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
24-2400 - Acq & Install Police Communic
2,383,000.00
1,923,000.00
460,000.00
24-2402 - Improvements to Macaluso Pa
116,000.00
69,413.00
46,587.00
24-2408 - Improve ro Childrens Centenn
270,026.00
270,026.00
24-2409 - Allan Park Sports Field Lightin
445,626.00
222,813.00
222,813.00
24-2417 - Purchase and install hydro de
275,000.00
200,000.00
75,000.00
24-2419 - Purchase one hydraulic wood
80,000.00
80,000.00
24-2427 - 2024 Road Improvement Prog
916,000.00
870,000.00
46,000.00
Total
4,485,652.00
2,793,000.00
1,348,252.00
344,400.00
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 2024
AND DOWN PAYMENTS (N.J.S.A. 40A:2-11)
Purpose
Debit
Credit
Balance - January 1, 2024
xxxxxxxxx
1,295,572.00
Premium on Sale of Bonds
xxxxxxxxx
Funded Improvement Authorizations Canceled
xxxxxxxxx
421,029.00
Premium on Sale of Notes
54,746.00
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
Appropriated to 2024 Budget Revenue
xxxxxxxxx
Balance - December 31, 2024
1,771,347.00
xxxxxxxxx
1,771,347.00
1,771,347.00
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?
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)
-
2,166.00
2,271,769.76
55,415,792.00
56,794,244.00
56,794,244.00
39,755,970.80
56,109,200.00
Answer YES or NO
Answer YES or NO
Unpaid
Total
2024
NONE
Answer YES or NO
Sheet 39
2,216,631.68
2023
-
2,166.00
-
-
-
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
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