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Penns GroveRed Risk

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2016

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Executive Summary

The provided document is an Annual Financial Statement for the Borough of Penns Grove, Salem County, New Jersey, for the year 2016. It includes various financial schedules, trial balances, certifications, and analyses related to the municipality's financial activities, including current fund, trust funds, capital funds, and federal and state grants. The document also provides information on debt service, tax collections, and surplus accounts. Key certifications are required from the Chief Financial Officer and Registered Municipal Accountant.

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Document Text

--- Document: 2016 Document ---
        POPULATION LAST CENSUS
NET VALUATION TAXABLE 2016
MUNICODE
of
, County of
 SEE BACK COVER FOR INDEX AND INSTRUCTIONS.
DO NOT USE THESE SPACES
Date
     Examined By:
1
    Preliminary Check
2
    Examined
I hereby certify that the debt shown on Sheets 31 to 34a, 49 to 51a and 63 to 65a are complete, were computed by me and
can be supported upon demand by a register or other detailed analysis.
Signature
Name
Title
Email
(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 #
N-0416
, 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, 2016, completely in compliance with N.J.S. 40A:5-12, as amended.  I also give complete assurances as
to the veracity of required information included herein, needed prior to certification by the Director of Local Govern-
ment Services, including the verification of cash balances as of December 31, 2016.
Signature
Title
Address
Phone Number
Fax Number
Email
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.
856-299-8816
856-299-2788
slabb@pennsgrove-nj.org
Registered Municipal Accountant
fcaltabiano@bowmanllp.com
Borough
Chief Financial Officer
P.O. Box 527, Penns Grove, NJ 08069
Stephen Labb
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2016
5,147
171,688,600
1707
Borough
Penns Grove
Salem
 (UNAUDITED)
 FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2017
MUNICIPALITIES - FEBRUARY 10, 2017
Penns Grove
Salem
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.
Fred S. Caltabiano
Sheet 1


THE REQUIRED CERTIFICATION BY AN RMA IS AS FOLLOWS:
Preparation by Registered Municipal Accountant (Statement of Statutory Auditor Only)
I have prepared the post-closing trial balances, related statements 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 December 31, 2016
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. 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 endedDecember 31, 2016 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 the 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 munici-
pality/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 of
, 2017
Borough
Penns Grove
Fred S. Caltabiano
(856) 853-0440
fcaltabiano@bowmanllp.com
(856) 435-0440
Registered Municipal Accountant
(Fax Number)
(Email)
(Phone Number)
(Address)
(Address)
(Firm Name)
Bowman & Company LLP
6 North Broad Street, Suite 201
Woodbury, New Jersey 08096
Sheet 1a
Borough of Penns Grove, Muni Code: 1707


      MUNICIPAL BUDGET LOCAL EXAMINATION QUALIFICATION CERTIFICATION
BY
 CHIEF FINANCIAL OFFICER
One of the following Certifications must be signed by the Chief Financial Officer if
your municipality is eligible for local examination.
 CERTIFICATION OF QUALIFYING MUNICIPALITY
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" referendum.
10.
The municipality will not apply for Transitional Aid for 2017.
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:
 CERTIFICATION OF NON-QUALIFYING MUNICIPALITY
The undersigned certifies that
this municipality does not meet Item(s)# 3 & 10 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:
N-0416
Borough of Penns Grove
Stephen Labb
Sheet 1c
Borough of Penns Grove, Muni Code: 1707


                Fed I.D. #
              Municipality
                   County
 Report of Federal and State Financial Assistance
 Expenditures of Awards
Fiscal Year Ending:
December 31, 2016
(1)
(2)
(3)
Federal Programs
Expended
State
Other Federal
(administered by
Programs
Programs
the State)
Expended
Expended
TOTAL    $
1,500.00
          
$
372,236.74
          
$
-
               
Type of Audit required by OMB Uniform Guidance and N.J. Circular 15-08-OMB:
Single Audit
Program Specific Audit
X
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 OMB Uniform Guidance and N.J. Circular 15-08 OMB. 
The single audit threshold has been increased to $750,000 beginning with fiscal year starting 1/1/2015. 
(1)          Report expenditures from federal pass-through programs received directly from state governments.
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 governments.
 Signature Of Chief Financial Officer
              Date
Borough of Penns Grove
21-6000999
Salem
Sheet 1d
Borough of Penns Grove, Muni Code: 1707


            IMPORTANT!
            READ INSTRUCTIONS
INSTRUCTION
The following certification is to be used ONLY in the event there is NO municipality oper-
ated utility.
If there is a utility operated by the municipality or 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 docu-
ment.
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
Borough
of
,
County of
during the year 2016 and that sheets 40 to 68 are unnecessary.
I have therefore removed from this statement the sheets pertaining only to utilities
Signature
Name
Title
     (This must be signed by the Chief Financial Officer, Comptroller, Auditor or Registered Munici-
pal Accountant.)
NOTE:
When removing the utility sheets, please be sure to refasten the "index" sheet (the last sheet
in the statement) in order to provide a protective cover sheet to the back of the document.
      MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2016
Certification is hereby made that the Net Valuation Taxable of property liable to taxation for
the tax year 2017 and filed with the County Board of Taxation on January 10, 2017 in accordance
with the requirement of N.J.S.A. 54:4-35, was in the amount of
$
170,375,100.00
                     
.
    SIGNATURE OF TAX ASSESSOR
          MUNICIPALITY
                 COUNTY
Penns Grove
Salem
Borough of Penns Grove
Salem
Fred S. Caltabiano
Registered Municipal Accountant
Sheet 2
Borough of Penns Grove, Muni Code: 1707


          NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
          POST CLOSING
          TRIAL BALANCE - CURRENT FUND
                   AS AT DECEMBER 31, 2016
   Cash Liabilities Must be Subtotaled and Subtotal Must be Marked With "C" - Taxes Receivable Must Be Subtotaled
 Title of Account
Debit
Credit
Cash
1,044,048.33
            
Investments
Due from State of NJ - Senior Citizens & Veterans Deductions
844.92
                      
Receivables with Full Reserves:
Delinquent Taxes
501,146.30
               
Tax Title Liens
934,064.15
               
Property Acquired by Taxes
603,300.00
               
Contract Sales Receivable
-
                            
Mortgage Sales Receivable
-
                            
Due from Atlantic City Electric
30,201.55
                 
Due from Trust -- Animal Control Fund
1,499.58
                   
Revenue Accounts Receivable
5,090.51
                   
Sub-total Receivables with Full Reserves
2,075,302.09
            
Deferred Charges (Sheets 28, 29 & 30)
-
                            
Deferred School Taxes (Sheets 13 & 14)
-
                            
Sub-total
3,120,195.34
            
-
                            
                            (Do not crowd - add additional sheets)
Sheet 3
Borough of Penns Grove, Muni Code: 1707


         NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
           POST CLOSING
   TRIAL BALANCE - CURRENT FUND (CONT'D)
                   AS AT DECEMBER 31, 2016
   Cash Liabilities Must be Subtotaled and Subtotal Must be Marked With "C" - Taxes Receivable Must Be Subtotaled
 Title of Account
Debit
Credit
Totals from Sheet 3
3,120,195.34
            
-
                            
Cash Liabilities:
Appropriation Reserves
105,467.00
               
Due to State of New Jersey - Senior Citizens & Veterans Deductions
-
                            
Local District School Tax Payable
-
                            
Regional School Tax Payable
567,458.00
               
Regional High School Tax Payable
-
                            
County Taxes Payable
-
                            
Due County for Added and Omitted Taxes
-
                            
Special District Taxes Payable
-
                            
State Library Aid  ( See Sheet 16 )
-
                            
Reserve for Encumbrances
35,044.05
                 
Accounts Payable
10,931.80
                 
Prepaid Taxes
82,614.29
                 
Tax Overpayments
222.36
                      
Due to Federal and State Grant Fund
60,363.12
                 
Due to Trust Other
51,842.46
                 
Due to General Capital Fund
42,902.15
                 
Reserve for Tax Map Revisions
10,000.00
                 
Reserve for Revaluation
7,190.80
                   
Sub-total Cash Liabilities
C
974,036.03
               
Reserve for Receivables
2,075,302.09
            
School Taxes Deferred (Sheets 13& 14)
-
                            
Fund Balance
70,857.22
                 
Total
3,120,195.34
            
3,120,195.34
            
                            (Do not crowd - add additional sheets)
Sheet 3a
Borough of Penns Grove, Muni Code: 1707


           POST CLOSING
 TRIAL BALANCE - PUBLIC ASSISTANCE FUND
                   Accounts #1 and #2*
                   AS AT DECEMBER 31, 2016
 Title of Account
Debit
Credit
Cash Public Assistance #1
-
                          
Cash Public Assistance #2
-
                          
Total
-
                          
-
                          
                            (Do not crowd - add additional sheets)
* To be prepared in compliance with Department of Human Services Municipal Audit Guide,
Public Welfare, General Assistance Program.
Sheet 4
Borough of Penns Grove, Muni Code: 1707


           POST CLOSING TRIAL BALANCE -
          FEDERAL AND STATE GRANTS
                   AS AT DECEMBER 31, 2016
 Title of Account
Debit
Credit
Cash
219,942.82
             
Federal and State Grants Receivable
498,896.09
             
Due from Current Fund
60,363.12
               
Loans Receivable
25,617.01
               
Appropriated Reserves for Federal and State Grants
565,986.43
             
Unappropriated Reserves for Federal and State Grants
2,126.00
                 
Due to General Capital Fund
40,000.00
               
Reserve for Receivables
25,617.01
               
Reserve for Program Income
171,089.60
             
Total
804,819.04
             
804,819.04
             
                            (Do not crowd - add additional sheets)
Sheet 5
Borough of Penns Grove, Muni Code: 1707


           POST CLOSING
          TRIAL BALANCE - TRUST FUNDS
                     (Assessment Section Must be Separately Stated)
                   AS AT DECEMBER 31, 2016
 Title of Account
Debit
Credit
Trust Assessment Fund
Cash
-
                            
Deferred Charges
-
                            
Assessment Bonds
-
                            
Assessment Notes
-
                            
Fund Balance
-
                            
Total Trust Assessment Fund
-
                            
-
                            
Animal Control Fund
Cash
6,152.18
                   
Deferred Charges
-
                            
Due to Current Fund
1,499.58
                   
Due to State of New Jersey Board of Health
499.80
                      
Reserve for Animal Control Fund Expenditures
4,152.80
                   
Total Animal Control Fund
6,152.18
                   
6,152.18
                   
                            (Do not crowd - add additional sheets)
Sheet 6
Borough of Penns Grove, Muni Code: 1707


           POST CLOSING
          TRIAL BALANCE - TRUST FUNDS
                     (Assessment Section Must be Separately Stated)
                   AS AT DECEMBER 31, 2016
 Title of Account
Debit
Credit
Trust Other Fund
Cash
294,877.17
               
Deferred Charges
-
                            
Due from Current Fund
51,842.46
                 
Reserve for:
Dedicated Uniform Fire Fees
1,912.00
                   
Forfeiture
340.94
                      
Builders Deposits
42,019.97
                 
Compensated Balances
82.66
                        
Payroll
41,087.49
                 
Public Defender Fees
9,717.31
                   
POAA
508.00
                      
Outside Employment of Officers
4,922.43
                   
Tax Title Lien
65,004.19
                 
Tax Sale Premium
179,000.00
               
Recreation
2,124.64
                   
Sub-total
346,719.63
               
346,719.63
               
                            (Do not crowd - add additional sheets)
Sheet 6i
Borough of Penns Grove, Muni Code: 1707


Municipal Public Defender Expended Prior Year 2015: ………………………………..
(1)
$
8,867.39
                 
x
25%
(2)
$
2,216.85
                 
Municipal Public Defender Trust Cash Balance December 31, 2016:
…………………(3)
$
9,717.31
                 
Note:  If the amount of money in a dedicated fund established pursuant to this section exceeds by more than 25%
the amount which the municipality expended during the prior year providing the services of a municipal public
defender, the amount in excess of the amount expended shall be forwarded to the Criminal Disposition and
Review Collection Fund administered by the Victims of Crime Compensation Board (P.O. Box 084, Trenton, N.J. 08625).
Amount in excess of the amount expended: 3 - (1 +2) = ………………………………………….
$
NONE
The undersigned certifies that the municipality has complied
with the regulations governing Municipal Public Defender
as required under Public Law 1998, C. 256.
Chief Financial Officer:
Signature:
Certificate #:
Date:
Stephen Labb
N-0416
MUNICIPAL PUBLIC DEFENDER
CERTIFICATION
Public Law 1998, C. 256
Sheet 6a
Borough of Penns Grove, Muni Code: 1707


Amount
Dec. 31, 2015
Balance
per Audit
as at
Purpose
Report
Receipts
Disbursements
Dec. 31, 2016
1.
Dedicated Uniform Fire Fees
$
1,662.00
                
$
250.00
                   
$
-
                         
$
1,912.00
                
2.
Forfeiture
6.81
                       
334.13
                   
-
                         
340.94
                   
3.
Builder Deposits
24,657.08
              
34,525.32
              
17,162.43
              
42,019.97
              
4.
Compensated Balances
34,633.24
              
49.42
                     
34,600.00
              
82.66
                     
5.
Payroll
37,998.76
              
2,118,213.95
         
2,115,125.22
         
41,087.49
              
6.
Public Defender Fees
8,303.31
                
1,414.00
                
-
                         
9,717.31
                
7.
POAA
500.00
                   
8.00
                       
-
                         
508.00
                   
8.
Outside Employment of Officers
369.32
                   
81,774.20
              
77,221.09
              
4,922.43
                
9.
Tax Title Lien Redemptions
121,853.49
            
429,693.20
            
486,542.50
            
65,004.19
              
10. Tax Sale Premium
139,800.00
            
99,100.00
              
59,900.00
              
179,000.00
            
11. Recreation
2,509.47
                
536.09
                   
920.92
                   
2,124.64
                
12.
-
                         
13.
-
                         
14.
-
                         
15.
-
                         
16.
-
                         
17.
-
                         
18.
-
                         
19.
-
                         
20.
-
                         
21.
-
                         
22.
-
                         
23.
-
                         
24.
-
                         
25.
-
                         
26.
-
                         
27.
-
                         
28.
-
                         
29.
-
                         
30.
-
                         
Totals:
$
372,293.48
         
2,765,898.31
      
2,791,472.16
      
$
346,719.63
         
Schedule of Trust Fund Reserves
Sheet 6b
Borough of Penns Grove, Muni Code: 1707


Audit
 Title of Liability to which Cash
Balance
Assessments
Current
Disbursements
Balance
 and Investments are Pledged
Dec. 31, 2015
and Liens
Budget
Dec. 31, 2016
Assessment Serial Bond Issues:
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
-
                          
-
                          
-
                          
-
                          
-
                          
Assessment Bond Anticipation Note Issues:
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
-
                          
-
                          
-
                          
-
                          
Other Liabilities
-
                          
Trust Surplus
-
                          
Less Assets "Unfinanced"
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
XXXXX
-
                          
-
                          
-
                          
Total
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
 ANALYSIS OF TRUST ASSESSMENT CASH AND INVESTMENTS PLEDGED TO
 LIABILITIES AND SURPLUS
 RECEIPTS
Sheet 7
Sheet 7
Borough of Penns Grove, Muni Code: 1707


           POST CLOSING
                   AS AT DECEMBER 31, 2016
 Title of Account
Debit
Credit
Est. Proceeds Bonds and Notes Authorized
236,900.00
           
XXXXXXXX
Bonds and Notes Authorized but Not Issued
XXXXXXXX
236,900.00
           
Cash
47,236.82
             
Deferred Charges
-
                        
    Funded
380,995.39
           
    Unfunded
1,060,420.00
        
Grants Receivable
748,512.24
           
Due from Current Fund
42,902.15
             
Due from Federal and State Grant Fund
40,000.00
             
General Capital Bonds
-
                        
Assessment Serial Bonds
-
                        
Bond Anticipation Notes
823,520.00
           
Assessment Notes
-
                        
Loans Payable
380,995.39
           
Loans Payable
-
                        
Improvement Authorizations - Funded
816,105.95
           
Improvement Authorizations - Unfunded
290,249.43
           
Capital Improvement Fund
9,195.83
               
Down Payments on Improvements
-
                        
Capital Surplus
-
                        
Total
2,556,966.60
        
2,556,966.60
        
                            (Do not crowd - add additional sheets)
          TRIAL BALANCE - GENERAL CAPITAL FUND
Sheet 8
Borough of Penns Grove, Muni Code: 1707


        Cash
Cash Book
*On Hand
On Deposit
Balance
Current 
1,064,108.58
              
1,044,048.33
      
Trust - Assessment 
-
                      
Trust - Dog License
6,296.88
                     
6,152.18
             
Trust - Other
333,389.72
                 
294,877.17
         
Capital - General 
47,236.82
                   
47,236.82
           
Water - Operating 
Utility Operating
-
                      
Water - Capital 
Utility Capital
-
                      
Utility Operating
-
                      
Utility Capital
-
                      
Public Assistance #1**
-
                      
Public Assistance #2**
-
                      
Garbage District
-
                      
Federal and State Grant Fund
219,942.82
                 
219,942.82
         
Municipal Open Space Trust Fund
-
                      
Assessment Trust
-
                      
Water Assessment Trust
-
                      
-
                      
-
                      
-
                      
-
                      
-
                      
-
                      
-
                      
-
                      
-
                      
-
                      
Total
1,670,974.82
              
1,612,257.32
      
* - Include Deposits In Transit
** - Be sure to include a Public Assistance 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, 2016.
                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 passbooks at December 31, 2016.
                All "Certificates of Deposit", "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:
Registered Municipal Accountant
Less Checks
Outstanding
78,319.72
              
19,602.22
                
CASH RECONCILIATION DECEMBER 31, 2016
18,491.28
                
6.02
                         
1,104.92
                  
38,551.53
              
150.72
                   
39,617.47
              
Sheet 9
Borough of Penns Grove, Muni Code: 1707


  CASH RECONCILIATION DECEMBER 31, 2016(cont'd.)
    LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
FULTON BANK
Capital Account - General Capital Fund
47,236.82
                   
Animal Control Fund
6,296.88
                     
HUD Special - Federal and State Grant Fund
216,577.63
                 
Drunk Driving - Federal and State Grant Fund
3,365.19
                     
Treasurer - Current Fund
885,938.81
                 
Tax Collector - Current Fund
178,169.77
                 
Trust Other:
Dedicated Uniform Fire Fees
1,662.00
                     
Forfeiture
340.94
                        
Compensated Balances
82.66
                          
Payroll
78,212.44
                   
Public Defender Fees
9,717.31
                     
Outside Employment of Officers
4,981.65
                     
Tax Title Lien
11,270.31
                   
Tax Sale Premium
179,023.89
                 
Recreation
2,124.64
                     
Builders Deposits
45,973.88
                   
Total
1,670,974.82
              
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
Borough of Penns Grove, Muni Code: 1707


Balance
Grant
Dec. 31, 2016
Small Cities CDBG Grant
-
                          
    Installation of Wind Turbine at Sewerage Authority
400,000.00
             
Drive Sober or Get Pulled Over
200.00
                    
Clean Communities
-
                          
Body Armor Replacement
-
                          
NJ Senior Citizen and Disabled Transportation
98,696.09
               
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
Totals
498,896.09
             
Sheet 10
5,000.00
                
11,225.22
              
55,387.77
              
5,200.00
                
68,130.11
              
 MUNICIPALITIES AND COUNTIES
 FEDERAL AND STATE GRANTS RECEIVABLE
Unappropriated
Canceled
1,762.91
                
Transferred
from 
Realized
Received
Balance
Jan. 1, 2016
2016 Budget
Revenue
71,612.99
              
-
                         
1,762.91
                
473,330.11
            
11,225.22
              
1,762.91
                
85,953.75
              
400,000.00
            
98,941.88
              
Sheet 10
Borough of Penns Grove, Muni Code: 1707


 SCHEDULE OF APPROPRIATED RESERVES FOR
 FEDERAL AND STATE GRANTS
Balance
Grant
Dec. 31, 2016
-
                          
Installation of Wind Turbine at Sewerage Authorit
400,000.00
             
Drive Sober or Get Pulled Over
2,450.00
                 
-
                          
Clean Communities
1,819.78
                 
Recycling Tonnage
6,609.26
                 
Body Armor Replacement
6,571.06
                 
NJ Senior Citizen and Disabled Transportation
124,362.78
             
Municipal Court Alcohol Education & Rehabilitation
1,327.15
                 
Drunk Driving Enforcement
3,353.77
                 
Hazardous Discharge Site - Tyrone Street
9,225.05
                 
Hazardous Discharge Site - Broad Street School
8,792.23
                 
Domestic Violence Training
1,475.35
                 
-
                          
-
                          
-
                          
Total
565,986.43
             
Canceled
Sheet 11
98,941.88
              
-
                            
-
                         
67,639.74
              
-
                         
85,953.75
              
47,618.79
              
-
                         
5,679.29
                
1,762.91
                
3,025.23
                
534,684.29
            
1,500.00
                
9,225.05
                
8,792.23
                
1,475.35
                
410.99
                   
11,225.22
              
9,816.43
                
4,808.15
                
86,027.82
              
1,327.15
                
9,033.06
                
400,000.00
            
3,950.00
                
Balance
Jan. 1, 2016
 Transferred from 2016
 Budget Appropriations
Budget
Appropriation
By 40A:4-87
Expended
9,634.49
                
Sheet 11


 SCHEDULE OF UNAPPROPRIATED RESERVES FOR
 FEDERAL AND STATE GRANTS
Balance
Grant
Dec. 31, 2016
Municipal Court Alcohol Education & Rehab
423.02
                    
Body Armor Replacement
1,702.98
                 
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
Totals
2,126.00
                 
Sheet 12
1,762.91
                
-
                         
2,126.00
                
-
                         
-
                         
-
                         
1,702.98
                
423.02
                   
1,762.91
                
1,762.91
                
1,762.91
                
 Transferred from 2016
Balance
 Budget Appropriations
By 40A:4-87
Jan. 1, 2016
Budget
Appropriation
Receipts
Sheet 12
Borough of Penns Grove, Muni Code: 1707


 *LOCAL DISTRICT SCHOOL TAX
Debit
Credit
Balance January 1, 2016
XXXXXXXX
XXXXXXXX
School Tax Payable #
85001-00
XXXXXXXX
School Tax Deferred
(Not in excess of 50% of Levy - 2015 - 2016)
85002-00
XXXXXXXX
Levy School Year July 1, 2016 - June 30, 2017
XXXXXXXX
Levy Calendar Year 2016
XXXXXXXX
Paid
XXXXXXXX
Balance December 31, 2016
XXXXXXXX
XXXXXXXX
School Tax Payable #
85003-00
-
                       
XXXXXXXX
School Tax Deferred
(Not in excess of 50% of Levy - 2016 - 2017)
85004-00
-
                       
XXXXXXXX
* Not including Type 1 school debt service, emergency authorizations-schools, transfer to
-
                       
-
                     
Board of Education for use of local schools
# Must include unpaid requisitions
MUNICIPAL OPEN SPACE TAX
Debit
Credit
Balance January 1, 2016
85045-00
XXXXXXXX
2016 Levy
85105-00
XXXXXXXX
Added and Omitted Levy
XXXXXXXX
Interest Earned
XXXXXXXX
Expenditures
XXXXXXXX
Balance December 31, 2016
85046-00
-
                       
XXXXXXXX
-
                       
-
                     
Sheet 13
Borough of Penns Grove, Muni Code: 1707


 REGIONAL SCHOOL TAX
(Provide a separate statement for each Regional District involved)
Debit
Credit
Balance January 1, 2016
XXXXXXXX
XXXXXXXX
School Tax Payable #
85031-00
XXXXXXXX
259,619.10
       
School Tax Deferred
(Not in excess of 50% of Levy - 2015 - 2016)
85032-00
XXXXXXXX
Levy School Year July 1, 2016 - June 30, 2017
XXXXXXXX
Levy Calendar Year 2016
XXXXXXXX
2,196,699.00
    
Transferred from Budget Appropriation
XXXXXXXX
26,240.00
         
Paid
1,915,100.10
        
XXXXXXXX
Balance December 31, 2016
XXXXXXXX
XXXXXXXX
School Tax Payable #
85033-00
567,458.00
          
XXXXXXXX
School Tax Deferred
(Not in excess of 50% of Levy - 2016 - 2017)
85034-00
-
                       
XXXXXXXX
# Must include unpaid requisitions
2,482,558.10
        
2,482,558.10
    
 REGIONAL HIGH SCHOOL TAX
Debit
Credit
Balance January 1, 2016
XXXXXXXX
XXXXXXXX
School Tax Payable #
85041-00
XXXXXXXX
School Tax Deferred
(Not in excess of 50% of Levy - 2015 - 2016)
85042-00
XXXXXXXX
Levy School Year July 1, 2016 - June 30, 2017
XXXXXXXX
Levy Calendar Year 2016
XXXXXXXX
Paid
XXXXXXXX
Balance December 31, 2016
XXXXXXXX
XXXXXXXX
School Tax Payable #
85043-00
-
                       
XXXXXXXX
School Tax Deferred
(Not in excess of 50% of Levy - 2016 - 2017)
85044-00
-
                       
XXXXXXXX
# Must include unpaid requisitions
-
                       
-
                   
Sheet 14
Borough of Penns Grove, Muni Code: 1707


 COUNTY TAXES PAYABLE
Debit
Credit
Balance January 1, 2016
XXXXXXXX
XXXXXXXX
County Taxes
80003-01
XXXXXXXX
Due County for Added and Omitted Taxes
80003-02
XXXXXXXX
2016 Levy
XXXXXXXX
XXXXXXXX
General County
80003-03
XXXXXXXX
1,450,102.31
      
County Library
80003-04
XXXXXXXX
County Health
XXXXXXXX
County Open Space Preservation
XXXXXXXX
27,635.26
           
Due County for Added and Omitted Taxes
80003-05
XXXXXXXX
671.06
                
Paid
1,478,408.63
        
XXXXXXXX
Balance December 31, 2016
XXXXXXXX
XXXXXXXX
County Taxes
-
                        
XXXXXXXX
Due County for Added and Omitted Taxes
-
                        
XXXXXXXX
1,478,408.63
        
1,478,408.63
      
 SPECIAL DISTRICT TAXES
Debit
Credit
Balance January 1, 2016
80003-06
XXXXXXXX
2016 Levy: (List Each Type of District Tax Separately - see Footnote)
XXXXXXXX
XXXXXXXX
Fire -
81108-00
XXXXXXXX
XXXXXXXX
Sewer -
81111-00
XXXXXXXX
XXXXXXXX
Water -
81112-00
XXXXXXXX
XXXXXXXX
Garbage -
81109-00
XXXXXXXX
XXXXXXXX
Open Space -
81105-00
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
Total 2016 Levy
80003-07
XXXXXXXX
-
                     
Paid
80003-08
XXXXXXXX
Balance December 31, 2016
80003-09
-
                        
-
                        
-
                     
Footnote: Please state the number of districts in each instance
Sheet 15
Borough of Penns Grove, Muni Code: 1707


 STATE LIBRARY AID
RESERVE FOR MAINTENANCE OF FREE PUBLIC LIBRARY WITH STATE AID
Debit
Credit
Balance January 1, 2016
80004-01
State Library Aid Received in 2016
80004-02
Expended
80004-09
Balance December 31, 2016
80004-10
 RESERVE FOR EXPENSE OF PARTICIPATION IN FREE COUNTY LIBRARY WITH STATE AID
Balance January 1, 2016
80004-03
State Library Aid Received in 2016
80004-04
Expended
80004-11
Balance December 31, 2016
80004-12
  RESERVE FOR AID TO LIBRARY OR READING ROOM WITH STATE AID (N.J.S.A. 40:54-35)
Balance January 1, 2016
80004-05
State Library Aid Received in 2016
80004-06
Expended
80004-13
Balance December 31, 2016
80004-14
 RESERVE FOR LIBRARY SERVICES WITH FEDERAL AID
Balance January 1, 2016
80004-07
State Library Aid Received in 2016
80004-08
Expended
80004-15
Balance December 31, 2016
80004-16
-
                         
-
                         
-
                         
-
                         
-
                         
XXXXXXXX
-
                         
XXXXXXXX
XXXXXXXX
XXXXXXXX
-
                         
-
                         
-
                         
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
-
                         
-
                         
XXXXXXXX
XXXXXXXX
XXXXXXXX
-
                         
XXXXXXXX
Sheet 16
Borough of Penns Grove, Muni Code: 1707


     STATEMENT OF GENERAL BUDGET REVENUES 2016
Source
Budget
Realized
Excess or Deficit*
-01
-02
-03
Surplus Anticipated
80101-
-
                        
Surplus Anticipated with Prior Written Consent of
Director of Local Government
80102-
-
                       
Miscellaneous Revenue Anticipated:
XXXXXXXXX
Adopted Budget
15,536.20
              
Added by N.J.S. 40A:4-87: (List on 17a)
XXXXXXXXX
-
                        
-
                        
Total Miscellaneous Revenue Anticipated
80103-
15,536.20
              
Receipts from Delinquent Taxes
80104-
(2,102.05)
              
-
                        
Amount to be Raised by Taxation:
XXXXXXXXX
(a) Local Tax for Municipal Purposes
80105-
XXXXXXXXX
(b) Addition to Local District School Tax
80106-
XXXXXXXXX
(c) Minimum Library Tax
80121-
XXXXXXXXX
Total Amount to be Raised by Taxation
80107-
(13,656.78)
            
(222.63)
                 
         ALLOCATION OF CURRENT TAX COLLECTIONS
Debit
Credit
Current Taxes Realized in Cash (Total of Item 10 or 14 on Sheet 22)
80108-00
5,845,912.32
         
Amount to be Raised by Taxation
XXXXXXXXX
Local District School Tax
80109-00
XXXXXXXXX
Regional School Tax
80119-00
XXXXXXXXX
Regional High School Tax
80110-00
XXXXXXXXX
County Taxes
80111-00
XXXXXXXXX
Due County for Added and Omitted Taxes
80112-00
XXXXXXXXX
Special District Taxes
80113-00
XXXXXXXXX
Municipal Open Space Tax
80120-00
XXXXXXXXX
Reserve for Uncollected Taxes
80114-00
826,925.97
            
Deficit in Required Collection of Current Taxes (or)
80115-00
  
Balance for Support of Municipal Budget (or)
80116-00
XXXXXXXXX
*Excess Non-Budget Revenue (see footnote)
80117-00
XXXXXXXXX
*Deficit Non-Budget Revenue (see footnote)
80118-00
* These items are applicable only when there is no "Amount to be Raised by Taxation" in the "Budget"
6,672,838.29
         
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.
XXXXXXXX
6,672,838.29
         
2,196,699.00
         
-
                         
1,477,737.57
         
671.06
                   
-
                         
-
                         
XXXXXXXX
XXXXXXXX
2,997,730.66
         
XXXXXXXX
XXXXXXXX
XXXXXXXX
-
                         
XXXXXXXX
XXXXXXXX
2,997,730.66
         
6,428,445.69
         
6,428,668.32
         
XXXXXXXX
2,843,817.08
         
XXXXXXXX
-
                         
2,843,817.08
         
547,897.95
            
XXXXXXXX
550,000.00
            
XXXXXXXX
3,011,387.44
         
3,011,387.44
         
2,828,280.88
         
39,000.00
              
39,000.00
              
XXXXXXXX
2,828,280.88
         
XXXXXXXX
-
                         
Sheet 17
Borough of Penns Grove, Muni Code: 1707


            STATEMENT OF GENERAL BUDGET REVENUES 2016
(Continued)
 MISCELLANEOUS REVENUES ANTICIPATED: ADDED BY N.J.S. 40A:4-87
Source
Budget
Realized
Excess or Deficit
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
Total (Sheet 17)
-
                          
-
                          
-
                          
CFO Signature:______________________________________________________________________
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.
Sheet 17a
Borough of Penns Grove, Muni Code: 1707


  STATEMENT OF GENERAL BUDGET APPROPRIATIONS 2016
2016 Budget as Adopted
80012-01
6,428,668.32
      
2016 Budget - Added by N.J.S. 40A:4-87
80012-02
Appropriated for 2016 (Budget Statement Item 9)
80012-03
6,428,668.32
      
Appropriated for 2016 Emergency Appropriation (Budget Statement Item 9)
80012-04
Total General Appropriations (Budget Statement Item 9)
80012-05
6,428,668.32
      
Add: Overexpenditures (see footnote)
80012-06
Total Appropriations and Overexpenditures
80012-07
6,428,668.32
      
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
80012-08
5,496,273.54
      
Paid or Charged - Reserve for Uncollected Taxes
80012-09
826,925.97
         
Reserved
80012-10
105,467.00
         
Total Expenditures
80012-11
6,428,666.51
      
Unexpended Balances Canceled (see footnote)
80012-12
1.81
                    
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".
    SCHEDULE OF EMERGENCY APPROPRIATIONS FOR LOCAL
DISTRICT SCHOOL PURPOSES
 (EXCEPT FOR TYPE I SCHOOL DEBT SERVICE)
2016 Authorizations
XXXXXXXX
N.J.S. 40A:4-46 (After adoption of Budget)
N.J.S. 40A:4-20 (Prior to adoption of Budget)
Total Authorizations
XXXXXXXX
-
                      
Deduct Expenditures:
XXXXXXXX
Paid or Charged
Reserved
Total Expenditures
-
                      
Sheet 18
Borough of Penns Grove, Muni Code: 1707


RESULTS OF 2016 OPERATION
 CURRENT FUND
Debit
Credit
Excess of Anticipated Revenues:
XXXXXXXX
XXXXXXXX
Miscellaneous Revenues Anticipated
80013-01
XXXXXXXX
15,536.20
               
Delinquent Tax Collections
80013-02
XXXXXXXX
  
XXXXXXXX
Required Collection of Current Taxes
80013-03
XXXXXXXX
  
Unexpended Balances of 2016 Budget Appropriations
80013-04
XXXXXXXX
1.81
                        
Miscellaneous Revenue Not Anticipated
81113-
XXXXXXXX
28,460.94
               
Miscellaneous Revenue Not Anticipated:
Proceeds of Sale of Foreclosed Property (Sheet 27)
81114-
XXXXXXXX
-
                          
Payments in Lieu of Taxes on Real Property
81120-
XXXXXXXX
Sale of Municipal Assets
XXXXXXXX
Unexpended Balances of 2015 Appropriation Reserves
80013-05
XXXXXXXX
34,690.14
               
Prior Years Interfunds Returned in 2016
80013-06
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
Deferred School Tax Revenue:  (See School Taxes, Sheets 13 & 14)
XXXXXXXX
XXXXXXXX
Balance January 1, 2016
80013-07
-
                          
XXXXXXXX
Balance December 31, 2016
80013-08
XXXXXXXX
-
                          
Deficit in Anticipated Revenues:
XXXXXXXX
XXXXXXXX
Miscellaneous Revenues Anticipated
80013-09
  
XXXXXXXX
Delinquent Tax Collections
80013-10
2,102.05
                 
XXXXXXXX
XXXXXXXX
Required Collection of Current Taxes
80013-11
13,656.78
               
XXXXXXXX
Interfund Advances Originating in 2016
80013-12
30,201.55
               
XXXXXXXX
Prior Year Disallowed Senior Citizen Deductions
1,373.29
                 
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
Deficit Balance - To Trial Balance (Sheet 3)
80013-13
XXXXXXXX
  
Surplus Balance - To Surplus (Sheet 21)
80013-14
31,355.42
               
XXXXXXXX
78,689.09
               
78,689.09
               
Sheet 19
Borough of Penns Grove, Muni Code: 1707


     SCHEDULE OF MISCELLANEOUS REVENUES
                NOT ANTICIPATED
Source
Amount Realized
Interest on Investments and Deposits - Current Fund Account
1,076.62
                   
Interest on Investments and Deposits - General Capital Fund Account
8.88
                          
Interest on Invesments and Depositis - TTL & Premiums
266.90
                      
Interest on Investments and Deposits - Federal and State Grant Fund
11.42
                        
Miscellaneous
1,081.10
                   
Interest on Investments and Deposits - Tax Collector
32.40
                        
Tax Collector Miscellaneous
25,857.32
                 
Interest on Investments and Deposits - Trust -- Other Funds
126.30
                      
Total Amount of Miscellaneous Revenues Not Anticipated (Sheet 19)
28,460.94
                 
Sheet 20
Borough of Penns Grove, Muni Code: 1707


             SURPLUS - CURRENT FUND
             YEAR 2016
Debit
Credit
1. Balance January 1, 2016
80014-01
XXXXXXXX
78,501.80
           
2.
XXXXXXXX
3. Excess Resulting from 2016 Operations
80014-02
XXXXXXXX
31,355.42
           
4. Amount Appropriated in the 2016 Budget - Cash
80014-03
39,000.00
               
XXXXXXXX
5. Amount Appropriated in the 2016 Budget - with Prior Writ-
ten Consent of Director of Local Government Services
80014-04
-
                          
XXXXXXXX
6.
XXXXXXXX
7. Balance December 31, 2016
80014-05
70,857.22
               
XXXXXXXX
109,857.22
             
109,857.22
         
      (FROM CURRENT FUND - TRIAL BALANCE)
Cash
80014-06
1,044,048.33
      
Investments
80014-07
-
                      
State Aid Receivable - Transitional Aid
Sub Total
1,044,048.33
      
Deduct Cash Liabilities Marked with "C" on Trial Balance
80014-08
974,036.03
         
Cash Surplus
80014-09
70,012.30
           
Deficit in Cash Surplus
80014-10   
Other Assets Pledged to Surplus: *
(1) Due from State of N.J. Senior
  Citizens and Veterans Deduction
80014-16
844.92
                    
Deferred Charges #
80014-12
-
                          
Cash Deficit #
80014-13
  
Total Other Assets
80014-14
844.92
                
* IN THE CASE OF A "DEFICIT IN CASH SURPLUS", "OTHER ASSETS
80014-15
70,857.22
           
         WOULD ALSO BE PLEDGED TO CASH LIABILITIES.
# MAY NOT BE ANTICIPATED AS NON-CASH SURPLUS IN 2017 BUDGET.
(1) MAY BE ALLOWED UNDER CERTAIN CONDITIONS.
NOTE: Deferred charges for authorizations under N.J.S. 40A:4-55 (Tax Map, etc.), N.J.S. 40A:4-55 (Flood Damage, etc.), N.J.S.
40A:4-55.1 (Roads and Bridges, etc.) and N.J.S. 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.
ANALYSIS OF BALANCE DECEMBER 31, 2016
Sheet 21
Borough of Penns Grove, Muni Code: 1707


 (FOR MUNICIPALITIES ONLY)
 CURRENT TAXES - 2016 LEVY
1. Amount of Levy as per Duplicate (Analysis) #
82101-00
6,687,274.75
$      
or
         (Abstract of Ratables)
82113-00
2. Amount of Levy Special District Taxes
82102-00
3. Amount Levied for Omitted Taxes under
N.J.S.A. 54:4-63.12 et. seq.
82103-00
4. Amount Levied for Added Taxes under
82104-00
3,032.26
               
N.J.S.A. 54:4-63.1 et. seq.
5a. Subtotal 2016 Levy
6,690,307.01
    
5b.Reductions due to tax appeals **
5c. Total 2016 Tax Levy
82106-00
6,690,307.01
        
6 Transferred to Tax Title Liens
82107-00
318,841.52
           
7. Transferred to Foreclosed Property
82108-00
8. Remitted, Abated or Canceled
82109-00
28,625.48
             
9. Discount Allowed
82110-00
10.Collected in Cash:  In 2015
82121-00    
102,729.96
       
            In 2016 *
82122-00    
5,647,033.89
    
Homestead Benefit Revenue
 82124-00    
71,628.61
         
State's Share of 2016 Senior Citizens
  and Veterans Deductions Allowed
82123-00    
24,519.86
         
      Total to Line 14
82111-00    
5,845,912.32
    
11.Total Credits
6,193,379.32
        
12.Amount Outstanding December 31, 2016
83120-00
496,927.69
           
13.Percentage of Cash Collections to Total 2016 Levy,
(Item 10 divided by Item 5c) is
87.38%
82112-00
Note:If municipality conducted Accelerated Tax Sale or Tax Levy Sale check here ___ & Complete Sheet 22a
14.Calculation of Current Taxes Realized in Cash:
Total of Line 10
5,845,912.32
        
Less:  Reserve for Tax Appeals Pending
            State Division of Tax Appeals
-
                        
To Current Taxes Realized in Cash (Sheet 17)
5,845,912.32
        
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 / $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 2016 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. (N.J.S.A. 40A:4-41)
Sheet 22
Borough of Penns Grove, Muni Code: 1707


 SCHEDULE OF DUE FROM/TO STATE OF NEW JERSEY
 FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Debit
Credit
1.
Balance January 1, 2016
XXXXXXXX
XXXXXXXX
Due From State of New Jersey
1,344.92
                 
XXXXXXXX
Due To State of New Jersey
XXXXXXXX
2.
Sr. Citizens Deductions Per Tax Billings
18,250.00
               
XXXXXXXX
3.
Veterans Deductions Per Tax Billings
8,000.00
                 
XXXXXXXX
4.
Sr. Citizens Deductions Allowed By Tax Collector
XXXXXXXX
5.
6.
7.
Sr. Citizens Deductions Disallowed By Tax Collector
XXXXXXXX
1,730.14
                 
8.
Sr. Citizens Deductions Disallowed By Tax Collector 2015 Taxes
XXXXXXXX
1,373.29
                 
9.
Received in Cash from State
XXXXXXXX
23,646.57
               
10.
11.
12. Balance December 31, 2016
XXXXXXXX
XXXXXXXX
Due From State of New Jersey
XXXXXXXX
844.92
                    
Due To State of New Jersey
-
                          
XXXXXXXX
27,594.92
               
27,594.92
               
Calculation of Amount to be included on Sheet 22, Item 10-
2016 Senior Citizens and Veterans Deductions Allowed
Line 2
18,250.00
           
Line 3
8,000.00
             
Line 4
-
                      
Sub-Total
26,250.00
           
Less: Line 7
1,730.14
             
To Item 10, Sheet 22
24,519.86
           
Sheet 23
Borough of Penns Grove, Muni Code: 1707


  SCHEDULE OF RESERVE FOR TAX APPEALS PENDING
                           (N.J.S.A. 54:3-27)
Debit
Credit
Balance January 1, 2016
XXXXXXXX
-
                          
Taxes Pending Appeals
XXXXXXXX
XXXXXXXX
Interest Earned on Taxes Pending Appeals
XXXXXXXX
XXXXXXXX
Contested Amount of 2016 Taxes Collected which
are Pending State Appeal (Item 14, Sheet 22)
XXXXXXXX
Interest Earned on Taxes Pending State Appeals
XXXXXXXX
Cash Paid to Appellants (Including 5% Interest from Date of Payment)
XXXXXXXX
Closed to Results of Operations
(Portion of Appeal won by Municipality, including Interest)
XXXXXXXX
Balance December 31, 2016
-
                          
XXXXXXXX
Taxes Pending Appeals*
-
                      
XXXXXXXX
XXXXXXXX
Interest Earned on Taxes Pending Appeals
-
                      
XXXXXXXX
XXXXXXXX
* Includes State Tax Court and County Board of Taxation
-
                          
-
                          
  Appeals Not Adjusted by December 31, 2016
 Signature of Tax Collector
License #
Date
Sheet 24
Borough of Penns Grove, Muni Code: 1707


                 COMPUTATION OF APPROPRIATION:
           RESERVE FOR UNCOLLECTED TAXES AND
               AMOUNT TO BE RAISED BY TAXATION
                         IN 2017 MUNICIPAL BUDGET
1. Total General Appropriations for 2017 Municipal Budget Statement
Item 8 (L) (Exclusive of Reserve for Uncollected Taxes
80015-
2. Local District School Tax -
Actual
80016-
Estimate**
80017-
3. Regional School District Tax - Actual
80025-
Estimate*
80026-
4. Regional High School Tax -
Actual
80018-
          School Budget
Estimate*
80019-
5. County Tax
Actual
80020-
Estimate*
80021-
6. Special District Taxes
Actual
80022-
Estimate*
80023-
7. Municipal Open Space Tax
Actual
80027-
Estimate*
80028-
8. Total General Appropriations & Other Taxes
80024-01
9. Less: Total Anticipated Revenues from 2017 in
       Municipal Budget (Item 5)
80024-02
10. Cash Required from 2017 Taxes to Support
       Local Municipal Budget and Other Taxes
80024-03
11. Amount of item 10 Divided by
[820034-04]
Equals Amount to be Raised by Taxation (Percentage
used must not exceed the applicable percentage
shown by Item 13, Sheet 22)
80024-05
Analysis of Item 11:
    Local District School Tax
    *     Must not be stated in an amount less than
          (Amount Shown on Line 2 Above)
            ''actual'' Tax of year 2016.
   Regional School District Tax
          (Amount Shown on Line 3 Above)
    **   May not be stated in an amount less than
    Regional High School Tax
             proposed budget submitted by the Local
          (Amount Shown on Line 4 Above)
             Board of Education to the Commissioner
    County Tax
             of Education on January 15, 2017 (Chap.
          (Amount Shown on Line 5 Above)
             136, P.L. 1978).  Consideration must be
    Special District Tax
             given to calendar year calculation.
          (Amount Shown on Line 6 Above)
    Municipal Open Space Tax
          (Amount Shown on Line 7 Above)
Tax in Local Municipal Budget
Total Amount (see Line 11)
12. Appropriation:  Reserve for Uncollected Taxes (Budget
      Statement, Item 8 (M) (Item 11, Less Item 10)
80024-06
Computation of "Tax in Local Municipal Budget"
  Note:
       Item 1 - Total General Appropriations
  The amount of
  anticipated rev-
      Item 12 - Appropriation: Reserve for Uncollected Taxes
  enues (Item 9)
  may never exceed
Sub-Total
  the total of Items 1
  and 12.
       Less:  Item 9 - Total Anticipated Revenues
Amount to be Raised by Taxation in Municipal Budget   80024-07
YEAR 2017
YEAR 2016
-
                         
-
                           
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
-
                           
2,196,699.00
           
-
                           
1,477,737.57
           
-
                           
XXXXXXXX
-
                         
-
                         
-
                         
-
                         
-
                         
-
                         
-
                         
-
                         
-
                         
Sheet 25
Borough of Penns Grove, Muni Code: 1707


 SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS
Debit
Credit
1.
Balance January 1, 2016
1,365,186.68
          
XXXXXXXX
A.  Taxes
83102-00
443,872.93
             
XXXXXXXX
XXXXXXXX
B.  Tax Title Liens
83103-00
921,313.75
             
XXXXXXXX
XXXXXXXX
2.
Canceled:
XXXXXXXX
XXXXXXXX
A.  Taxes
83105-00
XXXXXXXX
(2,504.31)
               
B.  Tax Title Liens
83106-00
XXXXXXXX
223,406.09
             
3.
Transferred to Foreclosed Tax Title Liens:
XXXXXXXX
XXXXXXXX
A.  Taxes
83108-00
XXXXXXXX
B.  Tax Title Liens
83109-00
XXXXXXXX
4.
Added Taxes
83110-00
XXXXXXXX
5.
Added Tax Title Liens
83111-00
XXXXXXXX
6.
Adjustment between Taxes (Other than current year)
XXXXXXXX
XXXXXXXX
and Tax Title Liens:
XXXXXXXX
A.  Taxes - Transfers to Tax Title Liens
83104-00
XXXXXXXX
14,623.05
               
B.  Tax Title Liens - Transfers from Taxes
83107-00
14,623.05
               
XXXXXXXX
7.
Balance Before Cash Payments
XXXXXXXX
1,144,284.90
          
8.
Totals
1,379,809.73
          
1,379,809.73
          
9.
Balance Brought Down
1,144,284.90
          
XXXXXXXX
10.
Collected:
XXXXXXXX
547,897.95
             
A.  Taxes
83116-00
427,535.58
             
XXXXXXXX
XXXXXXXX
B.  Tax Title Liens
83117-00
120,362.37
             
XXXXXXXX
XXXXXXXX
11.
Interest and Costs - 2016 Tax Sale
83118-00
23,054.29
               
XXXXXXXX
12.
2016 Taxes Transferred to Liens
83119-00
318,841.52
             
XXXXXXXX
13.
2016 Taxes
83123-00
496,927.69
             
XXXXXXXX
14.
Balance December 31, 2016
XXXXXXXX
1,435,210.45
          
A.  Taxes
83121-00
501,146.30
             
XXXXXXXX
XXXXXXXX
B.  Tax Title Liens
83122-00
934,064.15
             
XXXXXXXX
XXXXXXXX
15.
      Totals
1,983,108.40
          
1,983,108.40
          
16.
Percentage of Cash Collections to Adjusted Amount Outstanding
(Item No. 10 divided by Item No. 9) is
47.88%
17.
Item No. 14 multiplied by percentage shown above is
687,196.75
             
  and represents the
maximum amount that may be anticipated in 2017.
83125-00
(See Note A on Sheet 22 - Current Taxes)
(1) These amounts will always be the same.
Sheet 26
Borough of Penns Grove, Muni Code: 1707


            SCHEDULE OF FORECLOSED PROPERTY
                            (PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION)
Debit
Credit
1.
Balance January 1, 2016
84101-00
603,300.00
             
XXXXXXXX
2.
Foreclosed or Deeded in 2016
XXXXXXXX
XXXXXXXX
3.
Tax Title Liens
84103-00
XXXXXXXX
4.
Taxes Receivable
84104-00
XXXXXXXX
5A.
84102-00
XXXXXXXX
5B.
84105-00
XXXXXXXX
6.
Adjustment to Assessed Valuation
84106-00
XXXXXXXX
7.
Adjustment to Assessed Valuation
84107-00
XXXXXXXX
8.
Sales
XXXXXXXX
XXXXXXXX
9.
Cash *
84109-00
XXXXXXXX
10.
Contract
84110-00
XXXXXXXX
11.
Mortgage
84111-00
XXXXXXXX
12.
Loss on Sales
84112-00
XXXXXXXX
13.
Gain on Sales
84113-00
XXXXXXXX
14. Balance December 31, 2016
84114-00
XXXXXXXX
603,300.00
             
603,300.00
             
603,300.00
             
                           CONTRACT SALES
Debit
Credit
15. Balance January 1, 2016
84115-00
XXXXXXXX
16. 2016 Sales from Foreclosed Property
84116-00
XXXXXXXX
17. Collected *
84117-00
XXXXXXXX
18.
84118-00
XXXXXXXX
19. Balance December 31, 2016
84119-00
XXXXXXXX
-
                          
-
                          
-
                          
                         MORTGAGE SALES
Debit
Credit
20. Balance January 1, 2016
84120-00
XXXXXXXX
21. 2016 Sales from Foreclosed Property
84121-00
XXXXXXXX
22. Collected *
84122-00
XXXXXXXX
23.
84123-00
XXXXXXXX
24. Balance December 31, 2016
84124-00
XXXXXXXX
-
                          
Analysis of Sale of Property:        $
-
                                          
-
                          
-
                          
* Total Cash Collected in 2016
(84125-00)
Realized in 2016 Budget
-
                                          
To Results of Operation (Sheet 19)
-
                                          
Sheet 27
Borough of Penns Grove, Muni Code: 1707


 DEFERRED CHARGES
 - MANDATORY CHARGES ONLY -
 CURRENT, TRUST, AND GENERAL CAPITAL FUNDS
 (Do not include the emergency authorizations pursuant to N.J.S. 40A:4-55,
 N.J.S. 40A:4-55.1 or N.J.S. 40A:4-55.13 listed on Sheets 29 and 30.)
Amount
Caused By
Dec. 31, 2015
Amount in
Amount
Balance
per Audit
2016
Resulting
as at
Report
Budget
from 2016
Dec. 31, 2016
1.
Emergency Authorization -
Municipal*
$
$
$
$
-
                      
2.
Emergency Authorizations -
Schools
$
$
$
$
-
                      
3.
Deficit from Operations
$
$
$   
$
-
                      
4.
$
$
$
$
-
                      
   Sub-total Current Fund
$
-
                   
$
-
                   
$
-
                   
$
-
                      
5.
Capital - 
$
$
$
$
-
                      
6.
Trust Assessment
$
$
$
$
-
                      
7.
Animal Control Fund
$
$
$
$
-
                      
8.
Trust Other
$
$
$
$
-
                      
9.
$
$
$
$
-
                      
          *Do not include items funded or refunded as listed below.
 EMERGENCY AUTHORIZATIONS UNDER N.J.S. 40A:4-47 WHICH HAVE BEEN
 FUNDED OR REFUNDED UNDER N.J.S. 40A:2-3 OR N.J.S. 40A:2-51
Date
Purpose
Amount
1.
$
2.
$
3.
$
4.
$
5.
$
 JUDGEMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED
Appropriated for
in Budget of
In Favor of
On Account of
Date Entered
Amount
Year 2017
1.
$
2.
$
3.
$
4.
$
Sheet 28
Borough of Penns Grove, Muni Code: 1707


N.J.S. 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; MUNICI-
PAL CONSOLIDATION ACT; FLOOD OR HURRICANE DAMAGE.
Date
Balance
Dec. 31, 2016
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
Totals
-
                          
80025-00
80026-00
It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S. 40A:4-53 et seq. and
are recorded on this page
                 Chief Financial Officer
* Not less than one-fifth (1/5) of amount authorized but not more than the amount shown in the column Balance Dec. 31, 2016 must be entered here and then raised in the 2017 budget.
Sheet 29
-
                         
-
                         
-
                         
-
                         
-
                         
 REDUCED IN 2016
By 2016
Budget
Canceled
by Resolution
Dec. 31, 2015
Balance
Purpose
Not Less Than
1/5 of Amount
Authorized*
Amount
Authorized
Sheet 29
Borough of Penns Grove, Muni Code: 1707


                     N.J.S. 40A:4-55.1, ET SEQ., SPECIAL EMERGENCY - DAMAGE CAUSED TO ROADS OR BRIDGES BY SNOW, ICE, FROST OR FLOOD
                    N.J.S. 40A:4-55.13, ET SEQ., SPECIAL EMERGENCY - PUBLIC EXIGENCIES CAUSED BY CIVIL DISTURBANCES
Date
Balance
Dec. 31, 2016
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
-
                          
Totals
-
                          
80027-00
80028-00
It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S. 40A:4-55.1 et seq. and N.J.S.A. 40A:4-55.13 et seq
are recorded on this page
                 Chief Financial Officer
* Not less than one-third (1/3) of amount authorized but not more than the amount shown in the column ''Balance Dec. 31, 2015'' must be entered here and then raised in the 2016 budget.
Sheet 30
-
                         
-
                         
-
                         
-
                         
-
                         
Authorized
Purpose
Amount
Not Less Than
Budget
by Resolution
Authorized*
Dec. 31, 2015
By 2016
Canceled
 REDUCED IN 2016
1/3 of Amount
Balance
Sheet 30
Borough of Penns Grove, Muni Code: 1707


 SCHEDULE OF BONDS ISSUED AND OUTSTANDING
 AND 2017 DEBT SERVICE FOR BONDS
(MUNICIPAL) GENERAL CAPITAL BONDS
Debit
Outstanding January 1, 2016
80033-01
XXXXXXXX
Issued
80033-02
XXXXXXXX
Paid
80033-03
Outstanding December 31, 2016
80033-04
-
                          
-
                          
2017 Bond Maturities - General Capital Bonds
80033-05
$
2017 Interest on Bonds *
80033-06
               ASSESSMENT SERIAL BONDS
Outstanding January 1, 2016
80033-07
XXXXXXXX
Issued
80033-08
XXXXXXXX
Paid
80033-09
Outstanding December 31, 2016
80033-10
-
                          
-
                          
2017 Bond Maturities - Assessment Bonds
80033-11
$
2017 Interest on Bonds 
80033-12
Total "Interest on Bonds - Debt Service" (*Items)
80033-13
$
                          LIST OF BONDS ISSUED DURING 2016
2017 Maturity
Date of
Interest
Issue
Rate
Total
-
                          
80033-14
80033-15
-
                         
XXXXXXXX
-
                         
XXXXXXXX
-
                                 
Purpose
Amount Issued
2017 Debt
Service
Credit
-
                         
XXXXXXXX
XXXXXXXX
Sheet 31
Borough of Penns Grove, Muni Code: 1707


SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2017 DEBT SERVICE FOR LOANS
(MUNICIPAL) GREEN TRUST LOAN
Debit
Outstanding January 1, 2016
80033-01
XXXXXXXX
Issued
80033-02
XXXXXXXX
Paid
80033-03
34,285.41
                 
Outstanding December 31, 2016
80033-04
380,995.39
               
415,280.80
               
2017 Loan Maturities
80033-05
$
2017 Interest on Loans
80033-06
$
Total 2017 Debt Service for                                                 Loan
80033-13
$
                                              LOAN
Outstanding January 1, 2016
80033-07
XXXXXXXX
Issued
80033-08
XXXXXXXX
Paid
80033-09
Outstanding December 31, 2016
80033-10
-
                            
-
                            
2017 Loan Maturities
80033-11
$
2017 Interest on Loans
80033-12
$
Total 2017 Debt Service for                                                 Loan
80033-13
$
                         LIST OF LOANS ISSUED DURING 2016
2017 Maturity
Date of
Interest
Issue
Rate
Total
-
                            
80033-14
80033-15
-
                         
XXXXXXXX
-
                         
XXXXXXXX
-
                                 
Purpose
Amount Issued
2017 Debt
Credit
Service
34,974.54
                      
7,445.91
                        
42,420.45
                      
415,280.80
            
415,280.80
            
XXXXXXXX
XXXXXXXX
Sheet 31a
Borough of Penns Grove, Muni Code: 1707


    SCHEDULE OF BONDS ISSUED AND OUTSTANDING
      AND 2017 DEBT SERVICE FOR BONDS
      TYPE I SCHOOL TERM BONDS
Outstanding January 1, 2016
80034-01
Paid
80034-02
Outstanding December 31, 2016
80034-03
2017 Bond Maturities - Term Bonds
80034-04
$
2017 Interest on Bonds *
80034-05
$
               TYPE I SCHOOL SERIAL BOND
Outstanding January 1, 2016
80034-06
Issued
80034-07
Paid
80034-08
Outstanding December 31, 2016
80034-09
2017 Interest on Bonds *
80034-10
$
2017 Bond Maturities - Serial Bonds
80034-11
$
Total "Interest on Bonds - Type I School Debt Service" (*Items)
80034-12
$
Date of
Interest
-01
-02
Issue
Rate
Total
80035-
Outstanding
Dec. 31, 2016
1. Emergency Notes
80036-
$
$
2. Special Emergency Notes
80037-
$
$
3. Tax Anticipation Notes
80038-
$
$
4. Interest on Unpaid State and County Taxes  80039-
$
$
5.
$
$
6.
$
$
2017 Interest
Requirement
8,500.00
                            
-
                         
-
                         
-
                         
-
                         
XXXXXXXX
XXXXXXXX
-
                         
XXXXXXXX
XXXXXXXX
-
                         
XXXXXXXX
XXXXXXXX
-
                                 
2017 INTEREST REQUIREMENT - CURRENT FUND DEBT ONLY
2017 Debt
Service
Debit
Credit
LIST OF BONDS ISSUED DURING 2016
Purpose
2017 Maturity
Amount Issued
XXXXXXXX
-
                         
-
                         
Sheet 32
Borough of Penns Grove, Muni Code: 1707


Amount
Date
Rate
Interest
of Note
of
of
Computed to
Outstanding
Maturity
Interest
(Insert Date)
Dec. 31, 2016
1.
Construction of Riverfront Walk
81,700.00
               
5/3/2017
1.46%
5/2/2017
2.
Construction of Riverfront Walk
13,000.00
               
5/3/2017
1.46%
5/2/2017
3.
Acquisition of Refuse Truck
58,100.00
               
5/3/2017
1.46%
5/2/2017
4.
Const of Municipal Building Fire Stairs
87,500.00
               
5/3/2017
1.46%
5/2/2017
5.
Repair/Improvements Pump Stations
247,000.00
             
5/3/2017
1.46%
5/2/2017
6.
Redevelopment Agency Refunding Bond
336,220.00
             
5/3/2017
1.029%
5/2/2017
7.
8.
9.
10.
11.
12.
13.
14.
Total
823,520.00
             
80051-01
80051-02
Memo:  Type I School Notes should be separately listed and totaled.
Memo:  Refunding Bond Anticipation 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 2014 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2017 or
written intent of permanent financing submitted with statement.
** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.
             (Do not crowd - add additional sheets)
Sheet 33
1,675,000.00
         
177,200.00
            
10,574.28
              
3,459.70
                
189.80
                   
848.26
                   
1,277.50
                
3,606.20
                
53,500.00
              
9/23/2015
5/25/2007
5/14/2012
5/13/2013
5/8/2014
 DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
2017 Budget Requirement
For Principal
For Interest
**
Original
Date of
Issue*
Title or Purpose of Issue
Amount
Issued
Original
1,192.82
                
535,000.00
            
228,000.00
            
500,000.00
            
75,000.00
              
90,000.00
              
13,000.00
              
247,000.00
            
5/25/2007
81,700.00
              
13,000.00
              
8,500.00
                
7,500.00
                
Sheet 33
Borough of Penns Grove, Muni Code: 1707


Amount
Date
Rate
Interest
of Note
of
of
Computed to
Outstanding
Maturity
Interest
(Insert Date)
Dec. 31, 2016
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"
80051-01
80051-02
           Assessment Notes with an original date of issue of December 31, 2014 or prior must be appropriated in full in the 2017 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)
-
                         
-
                         
-
                         
Sheet 34
Date of
 DEBT SERVICE SCHEDULE FOR ASSESSMENT NOTES
For Interest
**
Issued
Issue*
For Principal
2017 Budget Requirement
Title or Purpose of Issue
Amount
Original
Original
Sheet 34
Borough of Penns Grove, Muni Code: 1707


Leases approved by LFB after July 1, 2007
1
2.
3.
4.
5.
Sub-total
Leases approved by LFB prior to July 1, 2007
1
2.
3.
4.
5.
Sub-total
Total
80051-01
80051-02
             (Do not crowd - add additional sheets)
Sheet 34a
-
                                     
-
                                     
-
                                                       
Outstanding
Dec. 31, 2016
For Principal
For Interest/Fees
SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS
Purpose
Amount
of Obligation
2017 Budget Requirement
Sheet 34a
Borough of Penns Grove, Muni Code: 1707


               SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND)
IMPROVEMENTS
Specify each authorization by purpose.  Do
not merely designate by a code number.
Funded
Unfunded
Acquisition of Refuse Truck
42,100.00
               
Straughen Lane Drainage Improvement
58,444.56
               
Reconstruction of Mill Street and Barber Avenue
23,227.74
               
Construction of Municipal Building Fire Stairs
84,501.27
               
Repairs/Improvements Pump Stations
110,111.43
             
Storm Sewer Project Iona
27,888.43
               
Reconstruction of East Griffith Street
60,553.59
               
Mill Street Pump Station
69,291.63
               
Demolition & Removal of Condemned Propertie
52,800.00
               
Refunding Bond Ordinance
736.73
                    
Delaware Ave Pumping Station
411,700.00
             
Reconstruction of Penn Street
165,000.00
             
                Total                              70000-
816,105.95
             
290,249.43
             
                                          Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization
Sheet 35
306,113.27
            
585,000.00
            
-
                         
369,872.21
            
585,114.32
            
165,000.00
            
-
                         
420,000.00
            
8,300.00
                
345,708.37
            
15,863.84
              
125,975.27
            
52,800.00
              
736.73
                   
27,888.43
              
60,553.59
              
415,000.00
            
58,444.56
              
23,227.74
              
Balance - December 31, 2016
Expended
Authorizations
Canceled
Balance - January 1, 2016
Funded
Unfunded
2016
Authorizations
84,501.27
              
42,100.00
              
Sheet 35
Borough of Penns Grove, Muni Code: 1707


Debit
Balance January 1, 2016
80031-01
XXXXXXXX
Received from 2016 Budget Appropriation *
80031-02
XXXXXXXX
XXXXXXXX
Improvement Authorizations Canceled
(financed in whole by the Capital Improvement Fund) 80031-03
XXXXXXXX
List by Improvements - Direct Charges Made for Preliminary Costs:
XXXXXXXX
Appropriated to Finance Improvement Authorizations
80031-04
23,008.00
               
Balance December 31, 2016
80031-05
9,195.83
                 
32,203.83
               
* The full amount of the 2016 budget appropriation should be transferred to this account unless the balance of
the appropriation is to be permitted to lapse.
XXXXXXXX
XXXXXXXX
XXXXXXXX
32,203.83
              
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
 GENERAL CAPITAL FUND
Credit
12,203.83
              
20,000.00
              
XXXXXXXX
XXXXXXXX
XXXXXXXX
 SCHEDULE OF CAPITAL IMPROVEMENT FUND
XXXXXXXX
XXXXXXXX
XXXXXXXX
XXXXXXXX
Sheet 36
Borough of Penns Grove, Muni Code: 1707


Debit
Balance January 1, 2016
80030-01
XXXXXXXX
Received from 2016 Budget Appropriation *
80030-02
XXXXXXXX
Received from 2016 Emergency Appropriation *
80030-03
XXXXXXXX
Appropriated to Finance Improvement Authorizations
80030-04
Balance December 31, 2016
80030-05
-
                         
-
                         
*The full amount of the 2016 appropriation should be transferred to this account unless the balance of the
               appropriation is permitted to lapse.
Down Payment
Provided by
Grants
Delaware Ave Pumping Station
399,398.00
            
162,594.00
            
Total  80032-00
561,992.00
            
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.
Reconstruction of Penn Street
23,008.00
                      
2,406.00
                        
-
                        
Years
585,000.00
             
-
                        
-
                        
XXXXXXXX
420,000.00
             
165,000.00
             
Authorized
-
                                
XXXXXXXX
XXXXXXXX
Appropriated
20,602.00
                      
GENERAL CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
Credit
Payment in Budget
of 2016 or Prior
Amount of Down
Purpose
Total
Obligations
CAPITAL IMPROVEMENTS AUTHORIZED IN 2016
AND DOWN PAYMENTS (N.J.S. 40A:2-11)
GENERAL CAPITAL FUND ONLY
Amount
Sheet 37
Borough of Penns Grove, Muni Code: 1707


Debit
Balance January 1, 2016
80029-01
XXXXXXXX
Premium on Sale of Bonds
XXXXXXXX
Funded Improvement Authorizations Canceled
XXXXXXXX
Appropriated to Finance Improvement Authorizations
80029-02
Appropriated to 2016 Budget Revenue
80029-03
Balance December 31, 2016
80029-04
-
                          
-
                          
                               BONDS ISSUED WITH A COVENANT OR COVENANTS
1. Amount of Serial Bonds Issued Under Provisions of Chapter 233,
P.L. 1944, Chapter 268, P.L. 1944, Chapter 428, P.L. 1943 or
Chapter 77, Article VI-A, P.L. 1945, with Covenant or Covenants;
Outstanding December 31, 2016
2. Amount of Cash in Special Trust Fund as of December 31, 2016 (Note A)
3. Amount of Bonds Issued Under Item 1
Maturing in 2017
4. Amount of Interest on Bonds with a
Covenant - 2017 Requirement
5.
   Total of 3 and 4 - Gross Appropriation
-
                             
6. Less Amount of Special Trust Fund to be Used
7. Net Appropriation Required
-
                  
NOTE A - This amount to be supported by confirmation from bank or banks
Footnote:  Any formula other than the one shown above and required to be used by covenant or covenants is to be attached hereto
Item 5 must be shown as an item of appropriation, short extended, with Item 6 shown directly following as a deduction and with the
amount of Item 7 extended into the 2017 appropriation column.
-
                         
XXXXXXXX
XXXXXXXX
XXXXXXXX
GENERAL CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
YEAR - 2016
Credit
Sheet 38
Borough of Penns Grove, Muni Code: 1707


A.
1.
Total Tax Levy for the Year 2016 was
$
6,690,307.01
    
2.
Amount of Item 1 Collected in 2016 (*)
$
5,845,912.32
      
3.
Seventy (70) percent of Item 1
$
4,683,214.91
    
(*) Including prepayments and overpayments applied.
B.
1.
Did any maturities of bonded obligations or notes fall due during the year 2016?
Answer YES or NO
YES
2.
Have payments been made for all bonded obligations or notes due on or before
December 31, 2016?
Answer YES or NO:
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 2017 budget for the liquidation of all
bonded obligations or notes exceed 25% of the total of appropriations for operating purposes in the
budget for the year just ended?
Answer YES or NO:
No
D.
1.
Cash Deficit 2015
$
2.
4% of 2015 Tax Levy for all purposes:
Levy - -    
=
$
-
                    
3.
Cash Deficit 2016
$   
4.
4% of 2016 Tax Levy for all purposes:
Levy - -    
=
$
-
                    
E.
Unpaid
2015
2016
Total
    1. State Taxes
$
$
$
-
                    
    2. County Taxes
$
$
-
                       
$
-
                    
    3. Amounts due Special Districts
$
$
-
                       
$
-
                    
    4. Amounts due School Districts for Local 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)
Sheet 39
Borough of Penns Grove, Muni Code: 1707


          The arrangement of the schedules is shown by the index appearing at the bottom hereof.  The statement
is prepared on a full cash basis.  Any variations from a full cash basis must be taken up with the Division in 
advance of the preparation of the statement and the budget.
          Summary statements only of debt service are required.  The use of summarized forms is permitted to 
conserve time.  Responsibility for the supporting detail is placed on the chief financial officer who must be in a 
position to support the summarized figures.
          No sheets should be eliminated, except utility fund sheets under the conditions stipulated on Sheet 2. 
Those sheets not filed in should be marked "Not Applicable".
1 & 1a, 1b, 1c
Certification and Affidavit
1d
Report of Federal & State Financial Assistance Expenditures of Awards
2.
Instructions and Certification
3 & 3a
Trial Balance--Current Fund
4.
Trial Balance--Public Assistance Fund
5.
Trial Balance--Federal and State Fund
6. & 6b.
Trial Balance--Trust Funds / Schedule of Trust Fund Deposits and Reserves
6a.
Municipal Public Defender Certification - P.L. 1997, C.256
7.
Analysis of Trust Assessment Cash and Investments Pledged to Liabilities and Surplus
8.
Trial Balance--Capital Fund
9, 9a, 9b, 9c
Cash Reconciliation 
10.
Federal and State Grants Receivable
11 &11a.
Appropriated Reserves for Federal and State Grants
12.
Unappropriated Reserves for Federal and State Grants
13.
Local District School Tax - Municipal Open Space Tax
14.
Regional School Tax - Regional High School Tax
15.
County Taxes Payable - Special District Tax
16.
Reserves for State and Federal Aid for Library Services
17 & 17a.
General Budget Revenues
17.
Allocation of Current Tax Collections
18.
General Budget Appropriations
18.
Emergency Appropriations for Local District School Purposes
19.
Results of 2016 Operations--Current Fund
20.
Schedule of Miscellaneous Revenues Not Anticipated
21.
Surplus Account and Analysis of Balance
22.
Current Tax Levy
22a.
"Accelerated Tax Sale/Tax Levy Sale Chapter 99 to Calculate Underlying Tax Collection Rate for 2011
23.
Due from/to State of New Jersey for Senior Citizens and Veterans Deductions
24.
Reserve for Tax Appeals Pending - N.J. Division of Tax Appeals (N.J.S.A. 54:3-37)
25.
Municipal Budget - Computation of "Reserve for Uncollected Taxes" and "Amount to be Raised by  Taxation"
25a.
26.
Delinquent Taxes and Tax Title Liens
27.
Foreclosed Property; Contract Sales; Mortgage Sales
28.
Deferred Charges and List of Judgments - Current
29.
Emergency - Tax Map; Revaluation; Master Plan; Revisions and Codification of Ordinance; Drainage
  Maps for Flood Control; Preliminary Studies, etc. for Sanitary Sewer Systems, Municipal 
  Consolidation Act; Flood or Hurricane Damage
30
Emergency - Damage to Roads and Bridges by Snow, Ice, etc.; Public Exigencies Caused by Civil Disturbances
31, 31a
Summary Statement of Debt Service Requirements - Municipal
32.
Summary Statement of Debt Service Requirements - School - Type I and Current
33.
Debt Service for Notes (Other than Assessment Notes)
34.
Debt Service for Assessment Notes
34a.
Schedule of Capital Lease Program Obligations
35 & 35a.
Improvement Authorizations
36.
Capital Improvement Fund
37.
Down Payment
37.
Capital Improvements Authorized in 2016
38.
General Capital Surplus, Bond Covenants
39.
Required Information (N.J.S.A. 52:27BB-55 as amended by Chap. 211, P.L. 1981)
UTILITIES ONLY
40.
Instructions
41 & 55.
Trial Balance - Utility Fund
42 & 56.
Trial Balance - Utility Assessment Trust Funds
43 & 57.
Analysis of Utility Assessment Trust Cash and Investments Pledged to Liabilities and Surplus
44 & 58.
Utility Revenues and Appropriations
45 & 59.
2016 Utility Operations
46 & 60.
Results of Operations, Operating Surplus and Analysis
47 & 61.
Utility Accounts Receivable; Utility Liens
48 & 62.
Deferred Charges and List of Judgments - Utility
49 & 63.
Summary Statement of Debt Service Requirements
49a & 63a
Summary Statement of Loan Requirements
50 & 64.
Debt Service for Utility Notes (Other than Utility Assessment Notes)
51 & 65.
Debt Service for Utility Assessment Notes
51a. & 65a.
Schedule of Capital Lease Program Obligations
52 & 66.
Improvement Authorizations (Utility Capital)
53 & 67.
Capital Improvement Fund and Down Payments
54 & 68.
Utility Capital Improvements Authorized in 2016; Utility Capital Surplus
Accelerated Tax Sale - Chapter 99. Calculation to Utilize Proceeds in Current Budget as Deduction to Reserve for Uncollected Tax 
Appropriation
INSTRUCTIONS IN PREPARATION OF
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2016
INDEX
Sheet 69
Borough of Penns Grove, Muni Code: 1707