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Executive Summary
The document provided is the Annual Financial Statement (Unaudited) for the City of Port Republic, Atlantic County, New Jersey, for the year 2017. It includes financial data such as population, net valuation taxable, and certifications by the Chief Financial Officer and Registered Municipal Accountant. The statement also details the municipality's budget revenues, appropriations, fund balances, debt, and other financial activities for the fiscal year ending December 31, 2017. It also contains a note about a penalty of five dollars per day for filings after February 10, 2018 for municipalities.
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--- Document: 2017 Annual Financial Statement Document ---
Page 1 of 74
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2017
(UNAUDITED)
POPULATION LAST CENSUS
1,037
NET VALUATION TAXABLE 2017
113,866,000
MUNICODE
0120
FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES – JANUARY 26, 2018
MUNICIPALITIES - FEBRUARY 10, 2018
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 SERVICE
City
of
Port Republic
County of
Atlantic
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:
Title:
(This must be signed by Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.)
REQUIRED CERTIFICATION BY THE CHIEF FINANCIAL OFFICER:
I hereby certify that I am responsible for filing this verified Annual Financial Statement, 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 Gina Simon am the Chief Financial Officer, License #N1540, of the City of Port Republic,
County of Atlantic 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, 2017, 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 Government Services, including the verification of cash balances as of December 31, 2017.
Prepared by Chief Financial Officer:
No
Signature
Title
Address
Phone 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.
Page 2 of 74
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 City Of Port
Republic as of December 31, 2017 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 no matters came to my attention that
caused me to believe that the Annual Financial Statement for the year end December 31, 2017 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 municipality/county, taken as a whole.
Listing of agreed-upon procedures not performed and/or matters coming to my attention of which the Director
should be informed:
Registered Municipal Accountant
Ford Scott & Associates, LLC
Firm Name
Address
Phone Number
Email
Certified by me
Page 3 of 74
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 2018.
The undersigned certifies that this municipality has compiled 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:
Port Republic
Chief Financial Officer:
Signature:
Certificate #:
Date:
CERTIFICATION OF NON-QUALIFYING MUNICIPALITY
The undersigned certifies that this municipality does not meet Item(s) # N/A 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:
Port Republic
Chief Financial Officer:
Signature:
Certificate #:
Date:
Page 4 of 74
21-6001026
Fed I.D. #
Port Republic
Municipality
Atlantic
County
Report of Federal and State Financial Assistance
Expenditures of Awards
Fiscal Year Ending: December 31, 2017
(1)
(2)
(3)
Federal Programs
Expended
(administered by
the State)
State Programs
Expended
Other Federal
Programs Expended
Total
$
$13,744.08
$
Type of Audit required by OMB Uniform Guidance and
N.J. Circular 15-08-OMB:
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
Page 5 of 74
IMPORTANT!
READ INSTRUCTIONS
INSTRUCTION
The following certification is to be used ONLY in the event there is NO municipality operated utility.
If there is a utility operated by the municipality 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 document.
CERTIFICATION
I hereby certify that there was no "utility fund" on the books of account and there was no utility owned
and operated by the City of Port Republic, County of Atlantic during the year 2017.
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 Municipal
Accountant.)
MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2017
☐ Certification is hereby made that the Net Valuation Taxable of property liable to taxation for the
tax year 2018 and filed with the County Board of Taxation on January 10, 2018 in accordance with the
requirement of N.J.S.A. 54:4-35, was in the amount of
$115,174,700
SIGNATURE OF TAX ASSESSOR
Port Republic
MUNICIPALITY
Atlantic
COUNTY
Page 6 of 74
NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
POST CLOSING
TRIAL BALANCE - CURRENT FUND
AS OF DECEMBER 31, 2017
Cash Liabilities Must be Subtotaled and Subtotal Must be Marked With "C" - Taxes Receivable Must Be
Subtotaled
Title of Account
Debit
Credit
Receivables with Full Reserves
Property Deeded to City
386,300.00
Due from Other Trusts
4,495.88
Due from Dog
2,908.13
Revenue Accounts Receivable
2,011.64
Due from Federal and State Grant Fund
53,023.42
Delinquent Taxes
83,258.90
Tax Title Liens
6,678.94
Property Acquired by Taxes
923,101.00
Contract Sales Receivable
0.00
Mortgage Sales Receivable
0.00
Subtotal Receivables with Full Reserves
1,461,777.91
0.00
Cash Liabilities
Due to Capital
20,780.52
Due to Municipal Open Space
66,641.17
Reserve for Reval
3,469.20
Reserve for Tax Map
700.00
Encumbrances Payable
16,757.16
Prepaid Taxes
242,597.44
Tax Overpayments
896.72
Appropriation Reserves
62,721.07
Due to State of New Jersey - Senior Citizens & Veterans
Deductions
13,862.15
Local District School Tax Payable
408,103.04
Regional School Tax Payable
0.00
Regional High School Tax Payable
0.00
County Taxes Payable
0.00
Due County for Added and Omitted Taxes
5,973.38
Special District Taxes Payable
State Library Aid
0.00
Subtotal Cash Liabilities
0.00
842,501.85
Current Fund Total
Reserve for Gravel
0.17
Cash
1,454,152.11
Due from State of NJ - Senior Citizens & Veterans
Deductions
0.00
Deferred Charges
47,527.00
Deferred School Taxes
460,000.00
Reserve for Receivables
1,461,777.91
School Taxes Deferred
460,000.00
Fund Balance
659,177.43
Investments
Total
3,423,457.19
3,423,457.19
Page 7 of 74
POST CLOSING
TRIAL BALANCE - PUBLIC ASSISTANCE FUND
Accounts #1 and #2*
AS OF DECEMBER 31, 2017
Title of Account
Debit
Credit
Cash Public Assistance #1
0.00
Cash Public Assistance #2
0.00
Total
0.00
0.00
Page 8 of 74
POST CLOSING TRIAL BALANCE –
FEDERAL AND STATE GRANTS
AS OF DECEMBER 31, 2017
Title of Account
Debit
Credit
Due to Current Fund
53,023.42
Cash
0.00
Federal and State Grants Receivable
465,373.17
Appropriated Reserves for Federal and State Grants
409,356.71
Unappropriated Reserves for Federal and State Grants
2,993.04
465,373.17
465,373.17
Page 9 of 74
POST CLOSING
TRIAL BALANCE - TRUST FUNDS
(Assessment Section Must be Separately Stated)
AS OF DECEMBER 31, 2017
Title of Account
Debit
Credit
Trust Assessment Fund
Cash
0.00
Deferred Charges
0.00
Assessment Bonds
0.00
Assessment Notes
Fund Balance
0.00
Total Trust Assessment Fund
0.00
0.00
Animal Control Fund
Due from State
32.40
Due to Current Fund
2,908.13
Reserve for Animal Control
898.57
Cash
3,774.30
Deferred Charges
0.00
Total Animal Control Fund
3,806.70
3,806.70
Trust Other Fund
Reserve for Oscar Halldorson Escrow
1,400.11
Due to Current Fund
4,495.88
Reserve for LOSAP
170,614.44
Reserve for Unemployment
6,100.79
Reserve for Escrow
15.78
Reserve for Recycling
2,749.95
Reserve for Recreation
244.83
Reserve for Celebration
4.71
Reserve for Historical
1,177.50
Reserve for Holly Creek Construction Escrow
12,672.96
Reserve for Quality Properties Escrow
5,459.84
Reserve for Gravel Security Deposit
1,500.25
Reserve for Glenn Marienski Tenant
330.73
Cash
206,767.77
Deferred Charges
0.00
Total
206,767.77
206,767.77
Municipal Open Space Trust Fund
Due from Current Fund
66,641.17
Reserve for Future Use
141,938.42
Cash
75,297.25
Total Municipal Open Space Trust Fund
141,938.42
141,938.42
Page 10 of 74
MUNICIPAL PUBLIC DEFENDER
CERTIFICATION
Public Law 1998, C. 256
Municipal Public Defender Expended Prior Year 2016:
(1)
$
X
%
(2)
$0.00
Municipal Public Defender Trust Cash Balance December 31, 2017:
(3)
$
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) =
$
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:
Gina Simon
Signature:
Gina Simon
Certificate #:
Date:
Page 11 of 74
SCHEDULE OF TRUST FUND RESERVES
Purpose
Amount Dec. 31, 2016 Per
Audit Report
Receipts
Disbursements
Balance as of Dec. 31, 2017
LOSAP
$170,614.44
$
$170,614.44
Unemployment Compensation
$5,594.40
$598.05
91.66
$6,100.79
Escrow
$15.78
$
$15.78
Recycling
$2,743.72
$6.23
$2,749.95
Recreation
$244.32
$0.51
$244.83
Celebration
$88.60
$0.11
84.00
$4.71
Historical
$1,174.83
$2.67
$1,177.50
Holly Creek Construction Escrow
$12,669.19
$3.77
$12,672.96
Quality Properties Escrow
$5,458.21
$1.63
$5,459.84
Gravel Security
$0.00
$1,500.25
$1,500.25
Glenn Marienski Tenant
$0.00
$330.73
$330.73
Oscar Halldorson Escrow
$
$1,400.11
$1,400.11
Totals
$198,603.49
$3,844.06
$175.66
$202,271.89
Page 12 of 74
ANALYSIS OF TRUST ASSESSMENT CASH AND INVESTMENTS PLEDGED TO
LIABILITIES AND SURPLUS
Receipts
Title of Liability to which Cash and Investments are Pledged
Audit Balance Dec. 31,
2016
Assessments
and Liens
Current Budget
Disbursements
Balance Dec. 31, 2017
Assesment Serial Bond Issues
Assessment Bond Anticipation Note Issues
Other Liabilitites
Trust Surplus
Trust Surplus
0.00
Less Assets “Unfinanced”
Totals
0.00
0.00
0.00
0.00
0.00
Page 13 of 74
POST CLOSING
TRIAL BALANCE - GENERAL CAPITAL FUND
AS OF DECEMBER 31, 2017
Title of Account
Debit
Credit
Deferred Charges to Future Taxation Unfunded
336,249.00
Due from Current Fund
20,780.52
Estimated Proceeds from Notes Auth Not Issued
36,249.00
Notes Authorized but Not Issued
36,249.00
Cash
173.24
Deferred Charges
0.00
General Capital Bonds
0.00
Assessment Serial Bonds
0.00
Bond Anticipation Notes
300,000.00
Assessment Notes
Loans Payable
0.00
Loans Payable
0.00
Improvement Authorizations - Funded
9,772.50
Improvement Authorizations - Unfunded
59.26
Capital Improvement Fund
17,454.00
Down Payments on Improvements
0.00
Capital Surplus
29,917.00
Total
393,451.76
393,451.76
Page 14 of 74
CASH RECONCILIATION DECEMBER 31, 2017
Cash
On Hand
On Deposit
Less Checks
Outstanding
Cash Book Balance
Current
57,975.86
1,426,912.93
30,736.68
1,454,152.11
Federal and State Grant Fund
0.00
Trust - Dog License
3,782.10
7.80
3,774.30
Trust - Other
207,593.38
825.61
206,767.77
Municipal Open Space Trust Fund
75,297.25
75,297.25
Capital - General
0.00
173.24
0.00
173.24
Total
57,975.86
1,713,758.90
31,570.09
1,740,164.67
* - 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,
2017.
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, 2017.
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:
Page 15 of 74
CASH RECONCILIATION DECEMBER 31, 2017 (CONT'D)
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
Bank
Amount
Oscar Halldorson Escrow
1,400.11
Current Checking
1,421,946.01
Payroll
4,784.25
Board of Election Clerk
182.67
Dog Trust
3,782.10
TTL Redemption
228.14
General Capital
173.24
Recycling
2,749.95
NJ Unemployment
8,846.08
Celebration Account
46.71
Open Space
75,297.25
Recreation Account
244.83
Historical
1,177.50
Quality Properties Escrow
5,459.84
Holly Creek Construction Escrow
12,672.96
Gravel Security
1,500.25
Planning Board
2,321.84
Glenn Marienski Tenant
330.73
LOSAP
170,614.44
Total
1,713,758.90
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.
Page 16 of 74
MUNICIPALITIES AND COUNTIES FEDERAL AND STATE GRANTS RECEIVABLE
Grant
Balance Jan. 1, 2017
2017 Budget
Revenue Realized
Received
Canceled
Balance Dec. 31,
2017
Other Grant
Receivable Amount
Other Grant Receivable
Description
Clean Communities
4,000.00
4,000.00
0.00
NJDOT - Church Street
88,383.50
88,383.50
NJDOT Mill Road
7,088.11
7,088.11
NJDOT - Blake Lane
93,392.50
93,392.50
CDBG
38,600.00
38,600.00
HAVA Grant
8,575.00
8,575.00
Municipal Alliance
8,788.56
7,742.00
7,742.00
8,788.56
Wetlands Preservation Park
6,508.00
6,508.00
County Open Space
61,804.00
61,804.00
County Open Space - 6
2,983.50
2,983.50
County Open Space 8
147,545.00
147,545.00
DEP Storm Water
1,705.00
1,705.00
Recycling Tonnage
1,592.25
1,592.25
0.00
Total
465,373.17
13,334.25
13,334.25
0.00
465,373.17
Page 17 of 74
SCHEDULE OF APPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS
Transferred from 2017 Budget
Appropriations
Grant
Balance Jan. 1,
2017
Budget
Appropriation By
40A:4-87
Expended
Cancelled
Other
Balance Dec. 31
2017
Other Grant Receivable
Description
Clean Communities
7,752.58
4,000.00
3,951.45
7,801.13
Municipal Alliance
23,638.56
7,742.00
9,792.63
21,587.93
Municipal Alliance - Local Share
21,526.00
2,581.00
24,107.00
Recycling Tonnage
9,510.50
1,592.25
11,102.75
County Open Space - 3 & 4
30,992.41
30,992.41
County Open Space 9
139,625.00
139,625.00
HAVA Grant
8,575.00
8,575.00
CDBG
37,075.00
37,075.00
DEP Storm Grant
4,444.31
4,444.31
Comcast Technology Grant
3,059.33
3,059.33
Alcohol Education Rehab
6,654.25
6,654.25
NJDOT - Mill Road
7,088.11
7,088.11
NJDOT - Church Street
43,510.24
43,510.24
NJDOT - Blake Lane
63,734.25
63,734.25
Total
407,185.54
2,581.00
13,334.25
13,744.08
0.00
409,356.71
Page 18 of 74
SCHEDULE OF UNAPPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS
Transferred from 2017 Budget
Appropriations
Grant
Balance Jan. 1,
2017
Budget
Appropriation By
40A:4-87
Receipts
Grants Receivable
Other
Balance Dec. 31,
2017
Other Grant Receivable
Description
Municipal Alliance
0.00
2,050.63
2,050.63
Recycling Tonnage
942.41
942.41
Total
0.00
0.00
0.00
2,993.04
0.00
2,993.04
Page 19 of 74
LOCAL DISTRICT SCHOOL TAX
Debit
Credit
Balance January 1, 2017
School Tax Payable #
85001-00
392,730.06
School Tax Deferred
(Not in excess of 50% of Levy - 2016 -2017)
85002-00
460,000.00
Prepaid Beginning Balance
Levy School Year July 1, 2017- June 30, 2018
1,736,210.00
Levy Calendar Year 2017
Paid
1,720,837.02
Balance December 31, 2017
School Tax Payable #
85003-00
408,103.04
School Tax Deferred
(Not in excess of 50% of Levy - 2017 -2018)
85004-00
460,000.00
Prepaid Ending Balance
Total
2,588,940.06
2,588,940.06
Amount Deferred at during year
* 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, 2017
118,789.28
2017 Levy
85105-00
22,773.20
Added and Omitted Levy
204.90
Interest Earned
171.04
Expenditures
Balance December 31, 2017
85046-00
141,938.42
Total
141,938.42
141,938.42
Page 20 of 74
REGIONAL SCHOOL TAX
Debit
Credit
Balance January 1, 2017
School Tax Payable
85031-00
School Tax Deferred
(Not in excess of 50% of Levy - 2016 -2017)
85032-00
Prepaid Beginning Balance
Levy School Year July 1, 2017- June 30, 2018
Levy Calendar Year 2017
Paid
Balance December 31, 2017
School Tax Payable
85033-00
0.00
School Tax Deferred
(Not in excess of 50% of Levy - 2017 -2018)
85034-00
0.00
Prepaid Ending Balance
Total
0.00
0.00
Amount Deferred at during Year
# Must include unpaid requisitions
REGIONAL HIGH SCHOOL TAX
Debit
Credit
Balance January 1, 2017
School Tax Payable
85041-00
School Tax Deferred
(Not in excess of 50% of Levy - 2016 - 2017 )
85042-00
Prepaid Beginning Balance
Levy School Year July 1, 2017- June 30, 2018
Levy Calendar Year 2017
Paid
Balance December 31, 2017
School Tax Payable
85043-00
0.00
School Tax Deferred
(Not in excess of 50% of Levy - 2017 -2018)
85044-00
0.00
Prepaid Ending Balance
Total
0.00
0.00
Amount Deferred at during year
# Must include unpaid requisitions
Page 21 of 74
COUNTY TAXES PAYABLE
Debit
Credit
Balance January 1, 2017
County Taxes
80003-01
Due County for Added and Omitted Taxes
80003-02
1,251.65
2017Levy
General County
80003-03
593,595.95
County Library
80003-04
41,079.60
County Health
25,917.46
County Open Space Preservation
1,670.33
Due County for Added and Omitted Taxes
80003-05
5,973.38
Paid
663,514.99
Balance December 31, 2017
County Taxes
0.00
Due County for Added and Omitted Taxes
5,973.38
Total
669,488.37
669,488.37
Paid for Regular County Levies
662,263.34
Paid for Added and Omitted Taxes
1,251.65
SPECIAL DISTRICT TAXES
Debit
Credit
Balance January 1, 2017
80003-06
2017 Levy: (List Each Type of District Tax
Separately - see Footnote)
Total 2017 Levy
80003-07
Paid
80003-08
Balance December 31, 2017
80003-09
Total
Footnote: Please state the number of districts in each instance
Page 22 of 74
STATE LIBRARY AID
RESERVE FOR MAINTENANCE OF FREE PUBLIC LIBRARY WITH STATE AID
Debit
Credit
Balance Jan 1, CY (Credit)
State Library Aid Received in CY (Credit)
Expended (Debit)
Balance December 31, 2017
0.00
Total
0.00
0.00
RESERVE FOR EXPENSE OF PARTICIPATION IN FREE COUNTY LIBRARY WITH STATE AID
Balance January 1, CY (Credit)
State Library Aid Received in CY (Credit)
Expended (Debit)
Balance December 31, 2017
0.00
Total
0.00
0.00
RESERVE FOR AID TO LIBRARY OR READING ROOM WITH STATE AID (N.J.S.A 40:54-35)
Balance January 1, CY (Credit)
State Library Aid Received in CY (Credit)
Expended (Debit)
Balance December 31, 2017
0.00
Total
0.00
0.00
RESERVE FOR LIBRARY SERVICES WITH FEDERAL AID
Balance January 1, CY (Credit)
State Library Aid Received in CY (Credit)
Expended (Debit)
Balance December 31, 2017
0.00
Total
0.00
0.00
Page 23 of 74
STATEMENT OF GENERAL BUDGET REVENUES 2017
Source
Budget -01
Realized -02
Excess or Deficit
-03
Surplus Anticipated
80101-
190,000.00
190,000.00
0.00
Surplus Anticipated with Prior Written Consent of
Director of Local Government
80102-
Adopted Budget
385,662.00
401,708.07
16,046.07
Added by NJS40A:4-87
13,334.25
13,334.25
0.00
Total Miscellaneous Revenue Anticipated
80103-
398,996.25
415,042.32
16,046.07
Receipts from Delinquent Taxes
80104-
65,000.00
68,864.46
3,864.46
Amount to be Raised by Taxation:
(a) Local Tax for Municipal Purposes
80105-
580,081.00
(b) Addition to Local District School Tax
80106-
(c) Minimum Library Tax
80107-
County Only: Total Raised by Taxation
Total Amount to be Raised by Taxation
80107-
580,081.00
606,914.52
26,833.52
Total
1,234,077.25
1,280,821.30
46,744.05
ALLOCATION OF CURRENT TAX COLLECTIONS
Debit
Credit
Current Taxes Realized in Cash
80108-00
2,941,739.34
Amount to be Raised by Taxation
Local District School Tax
80109-00
1,736,210.00
Regional School Tax
80119-00
Regional High School Tax
80110-00
County Taxes
80111-00
662,263.34
Due County for Added and Omitted Taxes
80112-00
5,973.38
Special District Taxes
80113-00
Municipal Open Space Tax
80120-00
22,978.10
Reserve for Uncollected Taxes
80114-00
92,600.00
Deficit in Required Collection of Current Taxes (or)
80115-00
Balance for Support of Municipal Budget (or)
80116-00
606,914.52
*Excess Non-Budget Revenue (see footnote)
80117-00
*Deficit Non-Budget Revenue (see footnote)
80118-00
Total
3,034,339.34
3,034,339.34
* These items are applicable only when there is no "Amount to be Raised by Taxation" in the "Budget"
column of the statement at the top of this sheet. In such instances, any excess or deficit in the above
allocation would apply to "Non-Budget Revenue" only.
Page 24 of 74
STATEMENT OF GENERAL BUDGET REVENUES 2017
MISCELLANEOUS REVENUES ANTICIPATED: ADDED BY N.J.S. 40A:4-87
Source
Budget
Realized
Excess of Deficit
Municipal Alliance
7,742.00
7,742.00
0.00
Recycling Tonnage
1,592.25
1,592.25
0.00
Clean Communities
4,000.00
4,000.00
0.00
13,334.25
13,334.25
0.00
I hereby certify that the above list of Chapter 159 insertions of revenue have been realized in cash or I
have received written notification of the award of public or private revenue. These insertions meet the
statutory requirements of N.J.S.A. 40A:4-87 and matching funds have been provided if applicable.
CFO Signature
Page 25 of 74
STATEMENT OF GENERAL BUDGET APPROPRIATIONS 2017
2017 Budget as Adopted
80012-01
1,220,743.00
2017 Budget - Added by N.J.S. 40A:4-87
80012-02
13,334.25
Appropriated for 2017 (Budget Statement Item 9)
80012-03
1,234,077.25
Appropriated for 2017 Emergency Appropriation
(Budget Statement Item 9)
80012-04
Total General Appropriations (Budget Statement
Item 9)
80012-05
1,234,077.25
Add: Overexpenditures (see footnote)
80012-06
Total Appropriations and Overexpenditures
80012-07
1,234,077.25
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
80012-08
1,078,756.18
Paid or Charged - Reserve for Uncollected Taxes
80012-09
92,600.00
Reserved
80012-10
62,721.07
Total Expenditures
80012-11
1,234,077.25
Unexpended Balances Cancelled (see footnote)
80012-12
0.00
FOOTNOTES - RE: OVEREXPENDITURES
Every appropriation overexpended in the budget document must be marked with an * and must agree
in the aggregate with this item.
RE: UNEXPENDED BALANCES CANCELED:
Are not to be shown as "Paid or Charged" in the budget document. In all instances "Total
Appropriations" and "Overexpenditures" must equal the sum of "Total Expenditures" and "Unexpended
Balances Canceled".
SCHEDULE OF EMERGENCY APPROPRIATIONS FOR LOCAL
DISTRICT SCHOOL PURPOSES
(EXCEPT FOR TYPE I SCHOOL DEBT SERVICE)
2017 Authorizations
N.J.S. 40A:4-46 (After adoption of Budget)
N.J.S. 40A:4-20 (Prior to adoption of Budget)
Total Authorizations
Deduct Expenditures:
Paid or Charged
Reserved
Total Expenditures
Page 26 of 74
RESULTS OF 2017 OPERATION
CURRENT FUND
Debit
Credit
Unexpended Balances of CY Budget Appropriations
0.00
Excess of Anticipated Revenues: Miscellaneous
Revenues Anticipated
16,046.07
Excess of Anticipated Revenues: Delinquent Tax
Collections
3,864.46
Excess of Anticipated Revenues: Required Collection of
Current Taxes
26,833.52
Miscellaneous Revenue Not Anticipated
52,246.09
Miscellaneous Revenue Not Anticipated: Proceeds of
Sale of Foreclosed Property
0.00
Deferred School Tax Revenue: Balance January 1, CY
460,000.00
Sale of Municipal Assets (Credit)
Deferred School Tax Revenue: Balance December 31,
CY
460,000.00
Unexpended Balances of PY Appropriation Reserves
(Credit)
78,541.08
Deficit in Anticipated Revenues: Miscellaneous
Revenues Anticipated
Prior Years Interfunds Returned in CY (Credit)
5,164.21
Deficit in Anticipated Revenues: Delinquent Tax
Collections
Cancelation of Reserves for Federal and State Grants
(Credit)
Deficit in Anticipated Revenues: Required Collection of
Current Taxes
0.00
Statutory Excess in Reserve for Dog Fund Expenditures
(Credit)
Interfund Advances Originating in CY (Debit)
Cancellation of Federal and State Grants Receivable
(Debit)
Senior Citizen Deductions Disallowed - Prior Year
Taxes (Debit)
Refund of Prior Year Revenue (Debit)
Surplus Balance
182,695.43
Deficit Balance
642,695.43
642,695.43
Page 27 of 74
SCHEDULE OF MISCELLANEOUS REVENUES NOT ANTICIPATED
Source
Amount Realized
Miscellaneous
250.40
Miscellaneous
23,361.57
Reimbursements
9,246.12
Building Permits
18,838.00
Planning Board
550.00
Total Amount of Miscellaneous Revenues Not Anticipated
52,246.09
Page 28 of 74
SURPLUS – CURRENT FUND
YEAR 2017
Debit
Credit
Miscellaneous Revenue Not Anticipated: Payments in Lieu of
Taxes on Real Property (Credit)
Excess Resulting from CY Operations
182,695.43
Amount Appropriated in the CY Budget - Cash
190,000.00
Amount Appropriated in the CY Budget - with Prior Written
Consent of Director of Local Government Services
Balance January 1, CY (Credit)
666,482.00
Balance December 31, 2017 80014-05
659,177.43
849,177.43
849,177.43
ANALYSIS OF BALANCE DECEMBER 31, 2017
(FROM CURRENT FUND – TRIAL BALANCE)
Cash
1,454,152.11
Investments
Sub-Total
1,454,152.11
Deduct Cash Liabilities Marked with “C”
on Trial Balance
80014-08
842,501.85
Cash Surplus
80014-09
611,650.26
Deficit in Cash Surplus
80014-10
Other Assets Pledged to Surplus
Due from State of N.J. Senior Citizens
and Veterans Deduction
80014-16
0.00
Deferred Charges #
80014-12
47,527.00
Cash Deficit
80014-13
0.00
Total Other Assets
80014-14
47,527.00
80014-15
659,177.26
Page 29 of 74
(FOR MUNICIPALITIES ONLY)
CURRENT TAXES – 2017 LEVY
1.
Amount of Levy as per Duplicate
(Analysis) #
82101-00
2,998,057.00
(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
31,364.00
N.J.S.A. 54:4-63.1 et. seq.
5a.
Subtotal 2017 Levy
3,029,421.00
5b.
Reductions due to tax appeals **
5c.
Total 2017 Tax Levy
82106-00
3,029,421.00
6.
Transferred to Tax Title Liens
82107-00
1,051.76
7.
Transferred to Foreclosed Property
82108-00
8.
Remitted, Abated or Canceled
82109-00
3,371.00
9.
Discount Allowed
82110-00
0.00
10.
Collected in Cash: In 2016
82121-00
56,302.00
In 2017 *
82122-00
2,821,785.34
Homestead Benefit Revenue
82124-00
49,365.00
State's Share of 2017 Senior Citizens
and Veterans Deductions Allowed
82123-00
14,287.00
Total to Line 14
82111-00
2,941,739.34
11.
Total Credits
2,946,162.10
12.
Amount Outstanding December 31, 2017
83120-00
83,258.90
13.
Percentage of Cash Collections to Total
2017 Levy,
(Item 10 divided by Item 5c) is
97.11
82112-00
Note: Did Municipality Conduct Accelerated Tax Sale or Tax Levy Sale?
No
14.
Calculation of Current Taxes Realized in
Cash:
Total of Line 10
2,941,739.34
Less: Reserve for Tax Appeals Pending
State Division of Tax Appeals
To Current Taxes Realized in Cash
2,941,739.34
Note A: In showing the above percentage the following should be noted:
Where Item 5 shows $3,029,421.00, and Item 10 shows $2,941,739.34, the percentage represented by
the cash collections would be $2,941,739.34 / $3,029,421.00 or 97.11. The correct percentage to be
shown as Item 13 is 97.11%.
# 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 2017 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)
Page 30 of 74
ACCELERATED TAX SALE/TAX LEVY SALE – CHAPTER 99
To Calculate Underlying Tax Collection Rate for 2017
Utilize this sheet only if you conducted an Accelerated Tax Sale or Tax Levy Sale pursuant to Chapter 99, P.L. 1997
(1)Utilizing Accelerated Tax Sale
Total of Line 10 Collected in Cash
LESS: Proceeds from Accelerated Tax Sale
NET Cash Collected
Line 5c Total 2017 Tax Levy
Percentage of Collection Excluding Accelerated Tax Sale Proceeds
(Net Cash Collected divided by Item 5c) is
(2)Utilizing Tax Levy Sale
Total of Line 10 Collected in Cash
LESS: Proceeds from Tax Levy Sale (excluding premium)
NET Cash Collected
Line 5c Total 2017 Tax Levy
Percentage of Collection Excluding Accelerated Tax Sale Proceeds
(Net Cash Collected divided by Item 5c) is
Page 31 of 74
SCHEDULE OF DUE FROM/TO STATE OF NEW JERSEY
FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Debit
Credit
Balance Jan 1, CY: Due From State of New Jersey (Debit)
Balance Jan 1, CY: Due To State of New Jersey (Credit)
13,149.00
Sr. Citizens Deductions Per Tax Billings (Debit)
12,500.00
Veterans Deductions Per Tax Billings (Debit)
1,750.00
Sr. Citizen & Veterans Deductions Allowed by Collector
(Debit)
250.00
Sr. Citizen & Veterans Deductions Disallowed by Collector
(Credit)
213.15
Sr. Citizens Deductions Disallowed By Tax Collector PY Taxes
(Credit)
Received in Cash from State (Credit)
15,000.00
Balance December 31, 2017
13,862.00
28,362.00
28,362.00
Calculation of Amount to be included on Sheet 22, Item
10- 2017 Senior Citizens and Veterans Deductions
Allowed
Line 2
12,500.00
Line 3
1,750.00
Line 4
250.00
Sub-Total
14,500.00
Less: Line 7
213.00
To Item 10
14,287.00
Page 32 of 74
SCHEDULE OF RESERVE FOR TAX APPEALS PENDING
(N.J.S.A. 54:3-27)
Debit
Credit
Balance January 1, 2017
Taxes Pending Appeals
Interest Earned on Taxes Pending
Appeals
Contested Amount of 2017 Taxes
Collected which are Pending State Appeal
Interest Earned on Taxes Pending State
Appeals
Cash Paid to Appellants (Including 5%
Interest from Date of Payment
Closed to Results of Operations (Portion
of Appeal won by Municipality, including
Interest)
Balance December 31, 2017
Taxes Pending Appeals*
Interest Earned on Taxes Pending
Appeals
*Includes State Tax Court and County Board of Taxation
Appeals Not Adjusted by December 31, 2017
Signature of Tax Collector
License #
Date
Page 33 of 74
COMPUTATION OF APPROPRIATION:
RESERVE FOR UNCOLLECTED TAXES AND
AMOUNT TO BE RAISED BY TAXATION
IN 2018 MUNICIPAL BUDGET
Year 2018
Year 2017
1. Total General Appropriations for 2018
Municipal Budget
Item 8 (L) (Exclusive of Reserve for Uncollected
Taxes Statement
80015-
2. Local District School Tax -
Actual
80016-
Estimate
80017-
3. Regional School District Tax -
Actual
80025-
Estimate
80026-
4. Regional High School Tax –
School Budget
Actual
80018-
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 2018 in
Municipal Budget (Item 5)
80024-02
10. Cash Required from 2018 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
(Amount Shown on Line 2 Above)
Regional School District Tax
(Amount Shown on Line 3 Above)
Regional High School Tax
(Amount Shown on Line 4 Above)
County Tax
(Amount Shown on Line 5 Above)
Special District Tax
(Amount Shown on Line 6 Above)
Municipal Open Space Tax
* Must not be stated in an
amount less than "actual" Tax of
year2017.
** May not be stated in an
amount less than proposed
budget submitted by the Local
Board of Education to the
Commissioner of Education on
January 15, 2018 (Chap. 136, P.L.
1978). Consideration must be
given to calendar year
calculation.
(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" Item 1 - Total General Appropriations
Item 12 - Appropriation: Reserve for Uncollected Taxes
Amount to be Raised by Taxation in Municipal Budget
80024-07
Page 34 of 74
ACCELERATED TAX SALE - CHAPTER 99
Calculation To Utilize Proceeds In Current Budget As Deduction
To Reserve For Uncollected Taxes Appropriation
A.
Reserve for Uncollected Taxes (sheet 25, Item 12)
$
B.
Reserve for Uncollected Taxes Exclusion
Outstanding Balance of Delinquent Taxes
(sheet 26, Item 14A) x % of Collection (Item 16)
$76,598.19
C.
TIMES: % of increase of Amount to be
Raised by Taxes over Prior Year
[(2018 Estimated Total Levy - 2017 Total
Levy)/2017 Total Levy]
%
D.
Reserve for Uncollected Taxes Exclusion Amount
[(B x C) + B]
$153,196.38
E
Net Reserve for Uncollected Taxes
Appropriation in Current Budget
$-153,196.38
(A-D)
2018 Reserve for Uncollected Taxes Appropriation Calculation (Actual)
1.
Subtotal General Appropriations (item8(L) budget
sheet 29
2.
Taxes not Included in the budget (AFS 25, items 2
thru 7)
$
Total
$
3.
Less: Anticipated Revenues (item 5, budget sheet
11)
4.
Cash Required
$
5.
Total Required at
$-153,196.38
(items 4+6)
$-153,196.38
6.
Reserve for Uncollected Taxes (item E above)
-153,196.38
Page 35 of 74
SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS
Debit
Credit
1.
Balance January 1, 2017
74,491.64
A. Taxes
83102-00
68,864.46
B. Tax Title Liens
83103-00
5,627.18
2.
Cancelled
A. Taxes
83105-00
B. Tax Title Liens
83106-00
3.
Transferred to Foreclosed
Tax Title Liens:
A. Taxes
83108-00
B. Tax Title Liens
83109-00
4.
Added Taxes
83110-00
5.
Added Tax Title Liens
83111-00
6.
Adjustment between Taxes
(Other than current year)
A. Taxes - Transfers to Tax
Title Liens
83104-00
B. Tax Title Liens - Transfers
from Taxes
83107-00
7.
Balance Before Cash
Payments
74,491.64
8.
Totals
74,491.64
74,491.64
9.
Collected:
68,864.46
A. Taxes
83116-00
68,864.46
B. Tax Title Liens
83117-00
10.
Interest and Costs - 2017 Tax
Sale
83118-00
11.
2017 Taxes Transferred to
Liens
83119-00
1,051.76
12.
2017 Taxes
83123-00
83,258.90
13.
Balance December 31, 2017
89,937.84
A. Taxes
83121-00
83,258.90
B. Tax Title Liens
83122-00
6,678.94
14.
Totals
158,802.30
158,802.30
15.
Percentage of Cash Collections to Adjusted
Amount Outstanding
(Item No. 9 divided by Item
No. 7) is
0.92
16.
Item No. 14 multiplied by percentage
shown above is
82,742.81
And represents the
maximum amount that may be anticipated
in 2018.
(See Note A on Sheet 22 - Current Taxes)
(1) These amounts will always be the same.
Page 36 of 74
SCHEDULE OF FORECLOSED PROPERTY
(PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION)
Debit
Credit
Balance January 1, CY (Debit)
923,101.00
Foreclosed or Deeded in CY: Tax Title Liens (Debit)
Foreclosed or Deeded in CY: Taxes Receivable (Debit)
Adjustment to Assessed Valuation (Debit)
Adjustment to Assessed Valuation (Credit)
Sales: Cash* (Credit)
Sales: Contract (Credit)
Sales: Mortgage (Credit)
Sales: Loss on Sales (Credit)
Sales: Gain on Sales (Debit)
Balance December 31, 2017
923,101.00
923,101.00
923,101.00
CONTRACT SALES
Debit
Credit
Balance January 1, CY (Debit)
CY Sales from Foreclosed Property (Debit)
Collected * (Credit)
Balance December 31, 2017
0.00
0.00
0.00
MORTGAGE SALES
Debit
Credit
Balance January 1, CY (Debit)
CY Sales from Foreclosed Property (Debit)
Collected * (Credit)
Balance December 31, 2017
0.00
0.00
0.00
Analysis of Sale of Property:
$0.00
*Total Cash Collected in 2017
(84125-00)
Realized in 2017 Budget
To Results of Operation
0.00
Page 37 of 74
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.)
Caused By
Amount Dec.
31, 2016 per
Audit Report
Amount in
2017 Budget
Amount
Resulting from
2017
Balance as at
Dec. 31, 2017
Deficit from Operations
$
$
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
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
$
JUDGEMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED
In Favor Of
On Account Of
Date Entered
Amount
Appropriated for in
Budget of Year
2018
$
Page 38 of 74
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.
Reduced in 2017
Date
Purpose
Amount
Authorized
Not Less Than 1/5 of
Amount Authorized
Balance Dec. 31,
2016
By 2017 Budget
Cancelled by
Resolution
Balance Dec. 31,
2017
6/17/2014
Tax Map
29,000.00
5,800.00
17,327.00
5,800.00
11,527.00
12/8/2015
Revaluation
60,000.00
12,000.00
48,000.00
12,000.00
36,000.00
Totals
89,000.00
17,800.00
65,327.00
17,800.00
0.00
47,527.00
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, 2017 must be entered here
and then raised in the 2018 budget.
Page 39 of 74
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
Reduced in 2017
Date
Purpose
Amount
Authorized
Not Less Than 1/3 of
Amount Authorized
Balance Dec. 31,
2016
By 2017 Budget
Cancelled by
Resolution
Balance Dec. 31,
2017
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 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, 2017 must be entered here
and then raised in the 2018 budget.
Page 40 of 74
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2018 DEBT SERVICE FOR BONDS
MUNICIPAL GENERAL CAPITAL BONDS
Debit
Credit
2018 Debt Service
Outstanding January 1, CY (Credit)
Issued (Credit)
Paid (Debit)
Cancelled (Debit)
Outstanding Dec. 31, 2017 80033-04
0.00
0.00
0.00
2018 Bond Maturities – General Capital Bonds
80033-05
2018 Interest on Bonds
80033-06
ASSESSMENT SERIAL BONDS
Outstanding January 1, CY (Credit)
Issued (Credit)
Paid (Debit)
Outstanding Dec. 31, 2017 80033-10
0.00
0.00
0.00
2018 Bond Maturities – General Capital Bonds
8003-11
2018 Interest on Bonds
80033-12
LIST OF BONDS ISSUED DURING 2017
Purpose
2018 Maturity
Amount Issued
Date of
Issue
Interest
Rate
Total
80033-14
8033-15
Page 41 of 74
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2018 DEBT SERVICE FOR LOANS
MUNICIPAL GREEN ACRES TRUST LOAN
Debit
Credit
2018 Debt Service
Outstanding January 1, CY (Credit)
Issued (Credit)
Paid (Debit)
Outstanding Dec. 31,2017 80033-04
0.00
0.00
0.00
2018 Loan Maturities
80033-05
2018 Interest on Loans
80033-06
Total 2018 Debt Service for Loan
80033-13
GREEN ACRES TRUST LOAN
Outstanding January 1, CY (Credit)
Issued (Credit)
Paid (Debit)
Outstanding Dec. 31,2017 80033-10
0.00
0.00
0.00
2018 Loan Maturities
80033-11
2018 Interest on Loans
80033-12
Total 2018 Debt Service for Loan
8033-13
LIST OF LOANS ISSUED DURING 2017
Purpose
2018 Maturity
Amount Issued
Date of
Issue
Interest
Rate
Total
80033-14
80033-15
Page 42 of 74
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND DEBT SERVICE FOR LOANS
Debit
Credit
Debt Service
Outstanding January 1,
Issued
Paid
Outstanding December 31,
Loan Maturities
Interest on Loans
Total Debt Service for Loan
Page 43 of 74
Page 44 of 74
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2018 DEBT SERVICE FOR BONDS
TYPE I SCHOOL TERM BONDS
Debit
Credit
2018 Debt Service
Outstanding January 1, CY (Credit)
Paid (Debit)
Outstanding Dec. 31, 2017 80034-03
0.00
0.00
0.00
2018 Bond Maturities – Term Bonds
80034-04
2018 Interest on Bonds
80034-05
Type 1 School Serial Bond
Outstanding January 1, CY (Credit)
Issued (Credit)
Paid (Debit)
Outstanding Dec. 31, 2017 80034-09
0.00
0.00
0.00
2018 Interest on Bonds
80034-10
2018 Bond Maturities – Serial Bonds
80034-11
Total “Interest on Bonds – Type 1 School Debt Service”
80034-12
LIST OF BONDS ISSUED DURING 2017
Purpose
2018 Maturity -01
Amount Issued -02
Date of
Issue
Interest
Rate
Total
2018 INTEREST REQUIREMENT – CURRENT FUND DEBT ONLY
Outstanding Dec.
31, 2017
2018 Interest
Requirement
$
$
Page 45 of 74
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
2018 Budget Requirement
Title or Purpose of Issue
Original Amount
Issued
Original Date of
Issue
Amount of Note
Outstanding
Dec. 31, 2017
Date of Maturity
Rate of Interest
For Principal
For Interest
Interest
Computed to
(Insert Date)
New Municipal Building and
Backhoe
950,000.00
9/28/2011
300,000.00
9/18/2018
1.75
16,102.00
5,250.00
9/18/2018
950,000.00
300,000.00
16,102.00
5,250.00
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 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2018 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.
Page 46 of 74
DEBT SERVICE SCHEDULE FOR ASSESSMENT NOTES
2018 Budget Requirement
Title or Purpose of Issue
Original Amount
Issued
Original Date of
Issue
Amount of
Note
Outstanding
Dec. 31, 2017
Date of
Maturity
Rate of Interest
For Principal
For Interest
Interest
Computed to
(Insert Date)
80051-01
80051-02
Assessment Notes with an original date of issue of December 31, or prior must be appropriated in full in the 2018 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)
Page 47 of 74
SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS
2018 Budget Requirement
Purpose
Amount of Obligation
Outstanding Dec. 31, 2017
For Principal
For Interest/Fees
Leases approved by LFB after July 1, 2007
Subtotal
Leases approved by LFB prior to July 1, 2007
Subtotal
Total
80051-01
80051-02
Page 48 of 74
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND)
Balance – January 1, 2017
Balance – December 31, 2017
IMPROVEMENTS Specify each
authorization by purpose. Do not merely
designate by a code number.
Funded
Unfunded
2017
Authorizations
Refunds
Expended
Authorizations
Canceled
Funded
Unfunded
01-02 - Construction of Park and Landfill
Closure
9,772.50
9,772.50
05-14 - Computer Equipment
59.26
59.26
Total
9,772.50
59.26
0.00
0.00
0.00
0.00
9,772.50
59.26
Page 49 of 74
GENERAL CAPITAL FUND
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Debit
Credit
Balance January 1, CY (Credit)
12,454.00
Received from CY Budget Appropriation * (Credit)
5,000.00
Improvement Authorizations Canceled (financed in
whole by the Capital Improvement Fund) (Credit)
Appropriated to Finance Improvement
Authorizations (Debit)
Balance December 31, 2017
80031-05
17,454.00
17,454.00
17,454.00
* The full amount of the 2017 budget appropriation should be transferred to this account unless the
balance of the appropriation is to be permitted to lapse.
Page 50 of 74
GENERAL CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
Debit
Credit
Balance January 1, CY (Credit)
Received from CY Budget Appropriation * (Credit)
Received from CY Emergency Appropriation *
(Credit)
Appropriated to Finance Improvement
Authorizations (Debit)
Balance December 31, 2017
80030-05
0.00
0.00
0.00
*The full amount of the 2017 appropriation should be transferred to this account unless the balance of
the appropriation is permitted to lapse.
CAPITAL IMPROVEMENTS AUTHORIZED IN 2017
AND DOWN PAYMENTS (N.J.S. 40A:2-11) GENERAL CAPITAL FUND ONLY
Purpose
Amount
Appropriated
Total
Obligations
Authorized
Down Payment
Provided by
Ordinance
Amount of
Down Payment
in Budget of
2017 or Prior
Years
Total
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.
Page 51 of 74
GENERAL CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS YEAR – 2017
Debit
Credit
Balance January 1, CY (Credit)
29,917.00
Premium on Sale of Bonds (Credit)
Funded Improvement Authorizations Canceled
(Credit)
Miscellaneous - Premium on Sale of Serial Bonds
(Credit)
Appropriated to Finance Improvement
Authorizations (Debit)
Appropriated to CY Budget Revenue (Debit)
Balance December 31, 2017
80029-04
29,917.00
29,917.00
29,917.00
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, 2017
2.
Amount of Cash in Special Trust Fund as of December 31, 2017(Note A)
3.
Amount of Bonds Issued Under Item 1
Maturing in 2018
4.
Amount of Interest on Bonds with a
Covenant - 2018 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 here to 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
2018 appropriation column.
Page 52 of 74
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)
A.
1. Total Tax Levy for the Year 2017 was
3,029,421.00
2. Amount of Item 1 Collected in 2017 (*)
2,941,739.34
3. Seventy (70) percent of Item 1
2,120,594.70
(*) Including prepayments and overpayments applied.
B.
1. Did any maturities of bonded obligations or notes fall due during the year 2017?
Answer YES or NO:
No
2. Have payments been made for all bonded obligations or notes due on or before December
31,2017?
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 2018 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 2016
2. 4% of 2016 Tax Levy for all purposes:
Levy
3. Cash Deficit 2017
4. 4% of 2017 Tax Levy for all purposes:
Levy
121,176.84
E.
Unpaid
2016
2017
Total
1. State Taxes
$
$
$
2. County Taxes
$1,252.00
$5,973.38
$7,225.38
3. Amounts due Special Districts
$392,730.00
$
$
Amounts due School Districts for
Local School Tax
$
$408,103.04
$800,833.04
Page 53 of 74
Page 54 of 74
UTILITIES ONLY
Note:
If no "utility fund" existed on the books of account and if no utility was owned and operated by the municipality during the year , please observe instructions of Sheet 2.
Page 55 of 74
Bonds and Notes Authorized but Not Issued must be disclosed in this Utility Capital Section in the same manner as set forth in General Capital Fund on Sheet 8
Post Closing
Trial Balance - Utility Fund
AS OF DECEMBER 31,
Operating and Capital Sections
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Title of Account
Debit
Credit
Utility Operating Fund
Cash Liabilities
Subtotal Cash Liabilities
Receivables Offset with Reserves
Total Operating Fund
Page 56 of 74
Bonds and Notes Authorized but Not Issued must be disclosed in this Utility Capital Section in the same manner as set forth in General Capital Fund on Sheet 8
Post Closing
Trial Balance - Utility Fund
AS OF DECEMBER 31,
Operating and Capital Sections
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Title of Account
Debit
Credit
Utilities Capital Fund
Total Capital Fund
Page 57 of 74
Post-Closing Trial Balance
Utility Assessment Trust Funds
IF MORE THAN ONE UTILITY
EACH ASSESSMENT SECTION MUST BE SEPARATELY STATED
AS OF DECEMBER 31,
Title of Account
Debit
Credit
Total Trust Assessment Fund
Page 58 of 74
Analysis of Utility Assessment Trust Cash and Investments
Pledged to Liabilities and Surplus
Receipts
Title of Liability to which Cash and Investments are Pledged
Audit Balance Dec. 31,
Assessments and
Liens
Operating Budget
Disbursements
Balance Dec. 31,
Assessment Serial Bond Issues:
Assessment Bond Anticipation Notes
Other Liabilities
Trust Surplus
Less Assets “Unfinanced”
Total
Page 59 of 74
Schedule of Utility Budget -
Budget Revenues
Source
Budget
Received in Cash
Excess or Deficit
Operating Surplus Anticipated 91301
Operating Surplus Anticipated with Consent of
Director of Local Govt. Services
91302
Rents
91303
Miscellaneous Revenue Anticipated
91304
Miscellaneous
Added by N.J.S. 40A:4-87: (List)
Subtotal Additional Miscellaneous Revenues
Subtotal
Deficit (General Budget)
91306
91307
Statement of Budget Appropriations
Appropriations
Total Appropriations
Add: Overexpenditures
Total Overexpenditures
Total Appropriations & Overexpenditures
Page 60 of 74
Deduct Expenditures
Surplus
Total Surplus
Total Expenditure & Surplus
Unexpected Balance Cancelled
Page 61 of 74
Statement of Operation
Utility
NOTE: Section 1 of this sheet is required to be filled out ONLY IF the budget year Utility Budget contained either an item of revenue “Deficit (General Budget)” or an item of appropriation “Surplus (General
Budget)”
Section 2 should be filled out in every case.
Section 1:
Revenue Realized
Miscellaneous Revenue Not Anticipated
Appropriation Reserves Canceled
Total Revenue Realized
Expenditures
Expended Without Appropriation
Cash Refund of Prior Year's Revenue
Overexpenditure of Appropriation Reserves
Total Expenditures
Less: Deferred Charges Included in Above "Total Expenditures"
Total Expenditures - As Adjusted
Excess
Balance of "Results of 2015 Operation"
Remainder= ("Excess in Operations")
Deficit
Balance of "Results of 2015 Operation" Remainder= ("Operating Deficit - to Trial Balance")
Section 2:
Page 62 of 74
The following Item of Appropriation Reserves Canceled in Is Due to the Current Fund TO THE EXTENT OF the amount Received and Due from the
General Budget of for an Anticipated Deficit in the Utility for:
Appropriation Reserves Canceled in
Less: Anticipated Deficit in Budget - Amount Received and Due from Current Fund - If none, check "None" ☐
*Excess (Revenue Realized)
Page 63 of 74
Results of Operations – Utility
Debit
Credit
Operating Excess
Operating Deficit
Total Results of Current Year Operations
Operating Surplus– Utility
Debit
Credit
Balance December 31,
Total Operating Surplus
Page 64 of 74
Schedule of Utility Accounts Receivable
Balance December 31,
$
Increased by:
Rents Levied
$
Decreased by:
Collections
$
Overpayments applied
Transfer to Utility Lien
Other
$
$
Balance December 31,
$
Schedule of Utility Liens
Balance December 31,
$
Increased by:
Transfers from Accounts Receivable
$
Penalties and Costs
$
Other
$
$
Decreased by:
Collections
$
Other
$
$
Balance December 31,
$
Page 65 of 74
Deferred Charges
- Mandatory Charges Only -
Utility Fund
(Do not include the emergency authorizations pursuant to N.J.S. 40A:4-55)
Caused by
Amount Dec. 31, per Audit
Report
Amount in Budget
Amount Resulting from
Balance as at Dec. 31,
$
$
$
$
Total Operating
$
$
$
$
$
$
$
$
Total Capital
$
$
$
$
*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
$
Judgements Entered Against Municipality and Not Satisfied
In Favor Of
On Account Of
Date Entered
Amount
Appropriated for in Budget
of Year
$
Page 66 of 74
Schedule of Bonds Issued and Outstanding
and Debt Service for Bonds
UTILITY ASSESSMENT BONDS
Debit
Credit
Debt Service
Outstanding December 31,
Bond Maturities – Assessment Bonds
Interest on Bonds
Utility Capital Bonds
Debit
Credit
Debt Service
Outstanding December 31,
Bond Maturities – Assessment Bonds
Interest on Bonds
Interest on Bonds – Utility Budget
Interest on Bonds (*Items)
Less: Interest Accrued to 12/31/ (Trial Balance)
Subtotal
Add: Interest to be Accrued as of 12/31/
Required Appropriation
List of Bonds Issued During
Purpose
Maturity
Amount Issued
Date of Issue
Interest Rate
Page 67 of 74
Schedule of Loans Issued and Outstanding
and Debt Service for Loans
UTILITY LOAN
Loan
Outstanding January 1,
Issued
Paid
Outstanding
December 31,
Interest on Loans – Utility Budget
Interest on Loans (*Items)
Less: Interest Accrued to 12/31/ (Trial Balance)
Subtotal
Add: Interest to be Accrued as of 12/31/
Required Appropriation
$
List of Loans Issued During
Purpose
Maturity
Amount Issued
Date of Issue
Interest Rate
Page 68 of 74
Debt Service Schedule for Utility Notes (Other than Utility Assessment Notes)
Budget Requirement
Title or Purpose of the Issue
Original Amount
Issued
Original Date of
Issue
Amount of Note
Outstanding Dec.
31,
Date of
Maturity
Rate of
Interest
For Principal
For Interest
Date Interest
Computed to
INTERST ON NOTES – UTILITY BUDGET
Interest on Notes
$
Less: Interest Accrued to 12/31/ (Trial Balance)
Subtotal
$
Add: Interest to be Accrued as of 12/31/
$
Important: If there is more than one utility in the municipality, identify each note.
All notes with an original date of issue of or prior require one legal payable installment to be
budgeted if it is contemplated that such notes will be renewed in or written intent of
permanent financing submitted.
** If interest on note is financed by ordinance, designate same, otherwise an amount must be
included in this column.
Required Appropriation -
$
Page 69 of 74
Debt Service Schedule for Utility Assessment Notes
Budget Requirement
Title or Purpose of Issue
Original Amount
Issued
Original Date of
Issue
Amount of Note
Outstanding Dec.
31,
Date of
Maturity
Rate of
Interest
For Principal
For Interest
Interest Computed
to (Insert Date)
Important: If there is more than one utility in the municipality, identify each note.
Utility Assessment Notes with an original date of issue of December 31, or prior require one legally payable installment to be budgeted in the Dedicated Utility Assessment Budget if it is contemplated that such
notes will be renewed in or written intent of permanent financing submitted with statement.
** Interest on Utility Assessment Notes must be included in the Utility Budget appropriation "Interest on Notes".
Page 70 of 74
Schedule of Capital Lease Program Obligations
Budget Requirement
Purpose
Amount of Obligation
Outstanding Dec. 31,
For Principal
For Interest/Fees
Leases approved by LFB after July 1, 2007
Subtotal
Leases approved by LFB prior to July 1, 2007
Subtotal
Total
Page 71 of 74
Schedule of Improvement Authorizations (Utility Capital Fund)
Balance - January 1,
Balance December 31,
IMPROVEMENTS
Specify each authorization by purpose. Do not
merely designate by a code number
Funded
Unfunded
Authorizations
Expended
Authorizations
Canceled
Funded
Unfunded
Total
Page 72 of 74
Utility Capital Fund
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Debit
Credit
Balance December 31,
Utility Capital Fund
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
Debit
Credit
Balance December 31,
*The full amount of the appropriation should be transferred to this account unless the balance of the appropriation is permitted to lapse.
Page 73 of 74
Utility Fund
CAPITAL IMPROVEMENTS AUTHORIZED IN
AND
DOWN PAYMENTS (N.J.S. 40A:2-11)
UTILITIES ONLY
Purpose
Amount Appropriated
Total Obligations
Authorized
Down Payment
Provided by
Ordinance
Amount of Down
Payment in Budget of
or Prior Years
Utility Capital Fund
Statement of Capital Surplus
YEAR
Debit
Credit
Balance December 31,
Page 74 of 74
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