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Executive Summary
This is an audit report for the City of Port Republic, Atlantic County, New Jersey, for the year ended December 31, 2012. The audit was conducted by Ford-Scott & Associates LLC. The report includes comparative balance sheets, statements of operations, and statements of revenues and expenditures for various funds, prepared on a regulatory basis of accounting as prescribed by the New Jersey Division of Local Government Services.
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--- Document: 2012 Audit Document --- CITY OF PORT REPUBLIC ATLANTIC COUNTY NEW JERSEY AUDIT REPORT FOR THE YEAR ENDED DECEMBER 31, 2012 PART 1 Independent Auditor's Report CURRENT FUND CITY OF PORT REPUBLIC TABLE OF CONTENTS Exhibit Page 1-4 Comparative Balance Sheet - Regulatory Basis A 5-6 Comparative Statement of Operations and Change in Fund Balance - Regulatory Basis A-1 7-8 Statement of Revenues -Regulatory Basis A-2 9-12 Statement of Expenditures - Regulatory Basis A-3 13-20 TRUST FUND Comparative Balance Sheet - Regulatory Basis B 21-22 CAPITAL FUND Comparative Balance Sheet - Regulatory Basis Schedule of Fund Balance - Regulatory Basis C C-1 23 24 GENERAL FIXED ASSETS ACCOUNT GROUP Balance Sheet - Regulatory Basis NOTES TO FINANCIAL STATEMENTS SUPPLEMENTARY DATA G 25 26-38 Independent Auditor's Report - Government Auditing Standards Schedule of Expenditures of Federal and State Awards 39-40 41 CURRENT FUND Schedule of Cash - Treasurer A-4 42 Schedule of Taxes Receivable and Analysis of Property Tax Levy A-5 43-44 Schedule of Tax Title Liens Schedule of Revenue Accounts Receivable Schedule of Appropriation Reserves A-6 45 A-7 46 A-8 47 CITY OF PORT REPUBLIC TABLE OF CONTENTS Exhibit Page Schedule of Local District School Tax A-9 48 Schedule of State Grants Receivable A-10 49 Schedule of Reserve for State Grants - Appropriated A-11 50 Schedule of Reserve for State Grants - Unappropriated A-12 51 TRUST FUNDS Schedule of Cash - Treasurer B-2 52 Schedule of Reserve for Dog Expenditures B-3 53 Schedule of Amount Due to/(from) Current Fund - Dog License Fund B-4 54 Schedule of Amount Due to State of New Jersey - Department of Health B-5 54 Schedule of Reserve for Unemployment Compensation B-6 55 Schedule of Contractors Deposits B-7 55 Schedule of Reserve for Sanitary Landfill Closure B-8 56 Schedule of Reserve for Recycling Trust B-9 56 Schedule of Reserve for LOSAP B-10 57 Schedule of Due to Current Fund B-11 58 Schedule of Reserve for Celebration Trust B-12 58 Schedule of Reserve for Open Space Trust Schedule of Reserve for Recreation Trust B-13 59 B-14 59 CAPITAL FUNDS Schedule of Due from Current Fund C-2 60 Analysis of Cash C-3 61 Schedule of Deferred Charges to Future Taxation - Unfunded C-4 62 Schedule of Bond Anticipation Notes C-5 63 Statement of Improvement Authorizations C-6 64 Schedule of Capital Improvement Fund C-7 65 PART II General Comments Findings and Recommendations Status of Prior Recommendations Recommendations 66-68 69 70 70 CITY OF PORT REPUBLIC PART I REPORT ON AUDIT OF FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA YEAR ENDED DECEMBER 31, 2012 FORD-SCOTT & ASSOCIATES LLC. CERTIFIED PUBLIC ACCOUNTANTS 1535 HAVEN AVENUE PO BOX 538 OCEAN CITY, NJ 08226-0538 PHONE 609.399.6333 FAX 609.399.3710 www.ford-scott.com The Honorable Mayor and Independent Auditor's Report Members of City Council City of Port Republic, New Jersey Report on the Financial Statements We have audited the accompanying balance sheets - regulatory basis of the various funds and account group of the City of Port Republic, as of December 31, 2012 and 2011, the related statement of operations and changes in fund balance - regulatory basis for the years then ended, and the related statement of revenues - regulatory basis and statement of expenditures - regulatory basis of the various funds for the year ended December 31, 2012, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with the basis of accounting prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatements, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, the audit requirements prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey (the "Division"), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. 1 An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Basis for Adverse Opinion on U.S Generally Accepted Accounting Principles. As described in Note 1 of the financial statements, the financial statements are prepared by the City of Port Republic on the basis of the financial reporting provisions prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, which is a basis of accounting other than accounting principles generally accepted in the United States of America, to meet the requirements of New Jersey. The effects on the financial statements of the variances between the regulatory basis of accounting described in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material. Adverse Opinion on U.S. Generally Accepted Accounting Principles In our opinion, because of the significance of the matter discussed in the "Basis for Adverse Opinion on U.S Generally Accepted Accounting Principles" paragraph, the financial statements referred to above do not present fairly, in accordance with accounting principles generally accepted in the the United States of America, the financial position of each fund of the City of Port Republic as of December 31, 2012 and 2011, or changes in financial position for the years then ended. Basis for Qualified Opinion on Regulatory Basis of Accounting As described in Note 16 of the financial statements, the City participates in a Length of Service Award Program (LOSAP) for its volunteer fire and rescue personnel. The amount reflected in the trust fund statements of $117,954 and $120,582 for 2012 and 2011 respectively were not audited and, therefore, we express no opinion on the LOSAP program. 2 Qualified Opinion on Regulatory Basis of Accounting In our opinion, except for the effects of the matter described in the "Basis for Qualified Opinion on Regulatory Basis of Accounting" paragraph, the financial statements referred to above present fairly, in all material respects, the regulatory basis balances sheets and account group as of December 31, 2012 and 2011, the regulatory basis statements of operations for the years then ended and the regulatory basis statements of revenues and expenditures for the year ended December 31, 2012 in accordance with the basis of financial reporting prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey as described in Note 1. Other Matters Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Port Republic's basic financial statements. The supplementary information listed in the table of contents and schedule of expenditures of federal awards, as required by Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations and the schedule of expenditures of state financial assistance as required by NJ OMB 04-04 and the letter of comments and recommendations section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The supplemental information listed in the table of contents and the schedule of expenditures of federal awards, as required by Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, the schedule of and the schedule of expenditures of state financial assistance as required by NJ OMB 04-04 are the responsibility of management and were derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplemental information listed in the table of contents, schedule of expenditures of federal awards, as required by Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and the schedule of expenditures of state financial assistance as required by NJ OMB 04-04 are fairly stated, in all material respects, in relation to the basic financial statements as a whole. 3 The letter of comments and recommendations section has not been subject to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated February 22, 2013 on our consideration of the City of Port Republic's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City of Port Republic's internal control over financial reporting and compliance. Kenneth Moore Kenneth Moore, CPA, RMA #231 Ford Scott & Associates, LLC Ford Scott & Associates, LLC February 22, 2013 4 CURRENT FUND COMPARATIVE BALANCE SHEET - REGULATORY BASIS AS OF DECEMBER 31, Assets Regular Fund: Cash: Treasurer Change Fund Exhibit A Sheet 1 Ref. 2012 2011 A-4 $ 1,838,518 $ 1,907,259 100 25 1,838,618 1,907,284 Receivables and Other Assets with Full Reserves: Delinquent Property Taxes Receivable A-5 118,363 71,354 Tax Title Liens Receivable A-6 20,369 15,378 Property Acquired for Taxes-Assessed Valuation 923,101 923,101 Property Deeded to the City 386,300 386,300 Revenue Accounts Receivable Municipal Court A-7 1,439 2,620 Due From: Grant Fund A 60,730/ 87,999 Dog Trust B 1,620 1,111 Open Space Trust B 18,671 13,041 Other Trust Funds B 4,402/ 1,875 1,534,995 1,502,779 Deferred Charges: Special Emergency Overexpenditures of Appropriations Federal and State Grant Fund: State Grants Receivable 27,683 36,911 11,433 27,683 48,344 3,401,296 3,458,407 A-10 342,457 639,415 342,457 639,415 $ 3,743,753 $ 4,097,822 See Accompanying Notes to Financial Statements 5 CURRENT FUND COMPARATIVE BALANCE SHEET - REGULATORY BASIS AS OF DECEMBER 31, Liabilities, Reserves and Fund Balance Regular Fund: Liabilities: Ref. 2012 Exhibit A Sheet 2 2011 Appropriation Reserves A-3:A-8 $ 72,833 $ 59,989 Reserve for Encumbrances 24,154 11,557 Prepaid Taxes 37,722 37,913 Tax Overpayments 89 94 County of Atlantic - Added Taxes 1,766 363 Local School District Tax Payable A-9 296,789 287,126 Due to State of New Jersey - Construction Training Fees 864 Veterans and Senior Citizens 13,649 13,649 Marriage License Fees 150 Due to: General Capital C 912,638 1,036,609 1,359,640 1,448,314 Reserves for Receivables and Other Assets Fund Balance A A-1 1,534,995 1,502,779 506,661 507,314 3,401,296 3,458,407 Federal and State Grant Fund: Reserve for Encumbrances 170 Due to Current Fund 60,730 87,999 Reserve for State Grants Appropriated A-11 277,902 548,969 Unappropriated A-12 3,825 2,277 342,457 639,415 $ 3,743,753 $ 4,097,822 See Accompanying Notes to Financial Statements 6 CURRENT FUND COMPARATIVE STATEMENT OF OPERATIONS AND CHANGE IN FUND BALANCE - REGULATORY BASIS FOR THE YEARS ENDED DECEMBER 31, Revenue and Other Income Realized Ref. Exhibit A-1 Sheet 1 2012 2011 Fund Balance Utilized A-2 $ 100,000 $ 94,000 Miscellaneous Revenue Anticipated A-2 287,081 466,737 Receipts from Delinquent Taxes A-2 63,550 73,223 Receipts from Current Taxes A-2 2,463,896 2,469,350 Non Budget Revenue A-2 49,233 91,947 Other Credits to Income: Interfund Returned 21,795 Unexpended Balance of Approp Reserves A-8 57,903 56,461 Total Income 3,043,458 3,251,718 Expenditures Budget and Emergency Appropriations: Operations: Salaries and Wages A-3 266,981 287,087 Other Expenses A-3 500,100 498,828 Deferred Charges and Statutory Expenditures A-3 70,834 167,329 Capital Improvements A-3 13,000 110,000 Debt Service 32,437 County Tax 527,590 522,623 County Share of Added Taxes 1,766 363 Municipal Open Space Taxes 15,559 15,559 Local District School Tax A-8 1,513,583 1,494,257 Interfund Created 2,261 54,380 Refund of Prior Year Revenue 392 Total Expenditures Excess in Revenue 2,944,111 3,150,818 $ 99,347 $ 100,900 See Accompanying Notes to Financial Statements 7 CURRENT FUND COMPARATIVE STATEMENT OF OPERATIONS AND CHANGE IN FUND BALANCE - REGULATORY BASIS FOR THE YEARS ENDED DECEMBER 31, (CONTINUED) Adjustments to Income before Fund Balance: Exhibit A-1 Sheet 2 Ref. 2012 2011 Expenditures included above which are by Statute deferred Charges to Budget of Succeeding Year $ $ 11,433 Statutory Excess to Fund Balance 99,347 112,333 Fund Balance January 1 A 507,314 488,981 606,661 601,314 Decreased by: Utilization as Anticipated Revenue A-1:A-2 100,000 94,000 Balance December 31 A $ 506,661 $ 507,314 See Accompanying Notes to Financial Statements 8 CURRENT FUND STATEMENT OF REVENUES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 Fund Balance Anticipated Miscellaneous Revenues: Section A: Local Revenues Exhibit A-2 Sheet 1 Anticipated Special Ref. Budget N.J.S. 40A:4-87 Realized Excess or (Deficit) A-1 $ 100,000 $ $ 100,000 $ Fines and Costs: Municipal Court A-7 29,000 21,293 (7,707) Interest and Costs on Taxes A-7 12,500 11,037 (1,463) Interest on Investments and Deposits A-7 5,000 6,531 1,531 Communication Tower Rental - Bell Atlantic Nynex & Sprint A-7 60,000 61,531 1,531 Total Section A 106,500 100,392 (6,108) 9 Section B: State Aid Without Offsetting Appropriations Energy Receipts Tax A-7 176,307 176,307 176,307 176,307 Total Section B Section F: Special Items of General Revenue Anticipated with Prior Written Consent of Dir. of Local Government Services - Public and Private Revenues offset with Appropriations: Clean Communities Program A-10 Alcohol Education, Rehabilitation and Enforcement Fund A-10 Municipal Alliance on Alcohol and Drug Abuse A-10 4,000 4,000 378 378 6,004 6,004 Total Section F See Accompanying Notes to Financial Statements 10,382 10,382 CURRENT FUND STATEMENT OF REVENUES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Total Miscellaneous Revenues Exhibit A-2 Sheet 2 Anticipated Special Ref. Budget N.J.S. 40A:4-87 Realized Excess or (Deficit) A-1 $ 282,807 $ 10,382 $ 287,081 $ (6,108) A-1:A-2 70,500 63,550 (6,950) A-2 513,123 498,732 (14,391) 513,123 498,732 (14,391) 966,430 10,382 949,363 (27,449) A-2 49,233 49,233 $ 966,430 $ 10,382 $ 998,596 $ 21,784 Ref. A-3 A-3 10 Receipts from Delinquent Taxes Amount to be Raised by Taxes for Support of Municipal Budget a) Local Tax for Municipal Purposes Total Amount to Be Raised by Taxes Budget Totals Non-Budget Revenues: Other Non-Budget Revenue See Accompanying Notes to Financial Statements CURRENT FUND STATEMENT OF REVENUES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Analysis of Realized Revenues Exhibit A-2 Sheet 3 Ref. Allocation of Current Tax Collections: Revenue from Collections A-1:A-5 $ 2,463,896 Allocated to: School, County Taxes, Muni Open Spaces 2,058,498 Balance for Support of Municipal Budget Appropriations 405,398 Increased by: Appropriation "Reserve for Uncollected Taxes" A-3 93,334 Amount for Support of Municipal Budget Appropriations A-2 498,732 Receipts from Delinquent Taxes: Delinquent Tax Collections A-5 63,550 $ 63,550 See Accompanying Notes to Financial Statements 11 CURRENT FUND STATEMENT OF REVENUES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Analysis of Non-Budget Revenue Miscellaneous Revenue not Anticipated: Building Permits Tax Collector Reimbursement Treasurer FEMA Ref. Exhibit A-2 Sheet 4 $ 12,993 3,164 16,828 14,340 1,908 A-1:A-2 $ 49,233 See Accompanying Notes to Financial Statements 12 CURRENT FUND STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 Appropriations Budget Budget After Modification Exhibit A-3 Sheet 1 Paid or Charged Expended Unexpended Encumbered Reserved Balance Canceled Over- expended 4,200 $ 1,608 4,200 $ 1,607 $ $ $ 1 GENERAL GOVERNMENT: Mayor and Council Salaries and Wages Other Expenses $ 4,200 $ 1,500 Municipal Clerk Salaries And Wages 96,500 91,800 90,799 43,250 31,250 27,007 3,442 1,001 801 Other Expenses Financial Administration Salaries and Wages 4,450 4,450 4,171 18,800 11,200 9,127 2,002 279 71 Other Expenses Audit Service Other Expenses 23,500 23,500 21,500 2,000 Revenue Administration (Tax Collector) Salaries and Wages 10,760 10,760 10,760 Other Expenses 5,825 3,825 3,623 202 Assessment of Taxes Salaries and Wages Other Expenses 10,457 10,457 10,456 1,695 1,695 712 127 1 856 Liquidation of Tax Title Liens Other Expenses 100 100 100 Legal Services and Costs Salaries and Wages 10,455 10,455 10,455 Other Expenses 26,000 34,000 28,673 1,686 3,641 Engineering Services and Costs Other Expenses 6,250 16,250 15,856 394 13 See Accompanying Notes to Financial Statements CURRENT FUND STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Appropriations Budget After Budget Modification Paid or Charged Exhibit A-3 Sheet 2 Expended Encumbered Reserved Unexpended Balance Canceled Over- expended $ 19,000 $ 19,000 $ 15,847 $ 3,153 $ 9,175 9,175 3,946 242 4,987 Municipal Court Salaries & Wages Other Expenses Public Defender Other Expenses 750 750 750 LAND USE ADMINISTRATION: Municipal Land Use Law (N.J.S.A. 40:55D-1) Planning Board Salaries and Wages Other Expenses 1,000 1,000 433 567 1,000 1,535 1,535 INSURANCE: Disability Insurance 400 400 185 215 Liability Insurance 40,600 40,600 38,770 1,830 Group Insurance Plan for Employees 67,000 67,000 58,194 8,806 PUBLIC SAFETY: Police Department 911 Service 2,000 2,000 2,000 Emergency Management Service Salaries and Wages 400 4,745 3,958 787 Other Expenses 5,000 2,400 2,321 79 Aid to Volunteer Fire Companies 25,000 25,000 25,000 Aid to Volunteer Fire Companies - Insurance 3,000 3,000 3,000 First Aid Organization - Contribution 10,000 10,000 10,000 14 See Accompanying Notes to Financial Statements CURRENT FUND STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Municipal Prosecutor Salaries and Wages Appropriations Exhibit A-3 Sheet 3 Expended Budget After Budget Modification Paid or Charged Encumbered Reserved Unexpended Balance Canceled Over- expended $ 6,461 $ 6,461 $ 5,922 $ $ 539 $ $ Other Expenses PUBLIC WORKS: Streets and Road Maintenance Salaries and Wages 71,100 66,100 59,423 6,677 Other Expenses 20,000 19,600 10,544 3,606 5,450 Garbage and Trash Removal Salaries and Wages 6,600 7,243 Other Expenses 92,000 88,876 7,243 78,574 9,079 1,223 Building and Grounds Salaries and Wages Other Expenses 2,281 2,233 15,000 17,884 2,233 16,999 885 Gypsy Moth Program Other Expenses 1 1 1 HEALTH AND HUMAN SERVICES: Animal Control Service (Dog Regulation) Other Expenses 2,000 2,055 1,321 734 Aid to Outreach 2,000 2,000 2,000 PARKS AND RECREATION: Parks and Playgrounds Salaries and Wages 8,600 7,348 7,347 1 Other Expenses: Miscellaneous Other Expenses 1,500 1,500 1,342 158 15 See Accompanying Notes to Financial Statements CURRENT FUND STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Appropriations Exhibit A-3 Sheet 4 Budget After Budget Modification Paid or Charged Expended Unexpended Encumbered Reserved Balance Canceled Over- expended STATE UNIFORM CONSTRUCTION CODE Construction Official Salaries and Wages $ 11,445 $ 12,145 $ Other Expenses 100 554 12,144 $ 554 $ 1 $ $ Plumbing Inspector Salaries and Wages 2,601 2,601 2,601 Building Inspector Salaries and Wages 2,601 2,601 2,601 Electrical Inspector Salaries and Wages 3,382 3,382 3,381 1 Fire Protection Official Salaries and Wages UNCLASSIFIED: Celebration of Public Events 5,200 5,200 5,128 72 UTILITY EXPENSES AND BULK PURCHASES: Electricity 5,600 7,100 6,259 566 275 Street lighting 23,000 23,000 18,849 Telephone 4,151 8,500 8,500 6,718 727 1,055 Heating Oil 7,000 7,000 882 1,058 Gasoline 5,060 6,200 6,700 6,563 137 16 TOTAL OPERATIONS WITHIN "CAPS" 751,239 742,239 656,513 24,154 61,572 Contingent TOTAL OPERATIONS INCLUDING CONTINGENT 751,239 742,239 656,513 24,154 61,572 See Accompanying Notes to Financial Statements CURRENT FUND STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Appropriations Exhibit A-3 Sheet 5 Budget After Budget Modification Paid or Charged Expended Encumbered Reserved Unexpended Balance Canceled Over- expended Detail: Salaries and Wages Other Expenses $ 272,293 $ 266,981 $ 253,974 $ $ 478,946 475,258 402,539 24,154 13,007 $ 48,565 $ DEFERRED CHARGES AND STATUTORY EXPENDITURES: Overexpenditures 11,433 11,433 11,433 STATUTORY EXPENDITURES: Contribution to: Public Employees' Retirement System 25,433 25,433 25,433 Social Security 22,400 22,400 18,386 4,014 Unemployment Compensation Insurance 2,000 2,000 2,000 Defined Contribution Retirement 340 340 279 61 TOTAL DEFERRED CHARGES AND STATUTORY EXPENDITURES 61,606 61,606 55,531 6,075 TOTAL GENERAL APPROPRIATIONS FOR MUNICIPAL PURPOSES WITHIN "CAPS" 812,845 803,845 712,044 24,154 67,647 OPERATIONS - EXCLUDED FROM "CAPS" LOSAP 12,000 12,000 7,475 4,525 17 Total Other Operations - Excluded from "CAPS" 12,000 12,000 7,475 See Accompanying Notes to Financial Statements 4,525 CURRENT FUND STATEMENT OF EXPENDITURES - REGULATORY BASIS FOR THE YEAR ENDED DECEMBER 31, 2012 (CONTINUED) Appropriations Budget Budget After Modification Paid or Charged Exhibit A-3 Sheet 6 Expended Unexpended Encumbered Reserved Balance
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