Supplemental Debt Statement

BID #: N/A

ISSUED: 3/22/2022

DUE: TBD

VALUE: TBD

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Executive Summary

This document is a Supplemental Debt Statement for Riverdale Borough, New Jersey, as of March 22, 2022, for the budget year ending December 31, 2022. The statement outlines the borough's net debt, including bonds and notes for various purposes, and calculates the net debt as a percentage of the equalized valuation basis. The document also includes computations related to indebtedness for municipal public utilities and school indebtedness, as well as borrowing power available under specific New Jersey statutes.

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--- Document: Supplemental Debt Statement Document ---
Filed 
State of New Jersey
Department of Community Affairs
Supplemental Debt Statement
Local Government:
Riverdale Borough
Prepared As Of:
3/22/2022
Budget Year Ending
December 31
(Month D-D)
2022
(Year)
Name:
Chris Battaglia
Phone:
Title:
Email:
ChrisB@ttaglia.com
Address:
CFO Cert #:
N-0894
Chris Battaglia, Being duly sworn, deposes and says:  Deponent is the Chief Financial Officer of  Riverdale Borough here and in the statement 
hereinafter mentioned called the local unit.  The Supplemental Debt Statement annexed hereto and hereby made a part hereof is a true 
statement of the debt condition of the local unit as of the date therein stated and is computed as provided by the Local Bond Law of New Jersey.
Decrease
Increase
Net Debt as per Annual 
Debt Statement
(Since December 31, last past)
Net Debt
Bonds and Notes for School 
Purposes
$0.00
$
$
$0.00
Bonds and Notes for Self- 
Liquidating Purposes
$0.00
$
$
$0.00
Other Bonds and Notes
$5,080,227.84
$0.00
$0.00
$5,080,227.84
2 Net Debt at the time of this statement is ………………………………………………………………………………………
$5,080,227.84
The amounts and purposes separately itemized of the obligations about to be authorized, and any deductions which may be made on account of each such item are: (see 
Note "C" below)
Bond Ordinance
Purposes
Amount
Deduction
Net
Independence Park Retaining 
Wall
$380,900.00
$
$380,900.00
Road Improvements
$1,300,000.00
$
$1,300,000.00
$1,680,900.00
$0.00
$1,680,900.00
4
The net debt of the local unit determined by the addition of the net debt amounts stated in items 2 and 3 above is:
$6,761,127.84
5
Equalized valuation basis (the average of the equalized valuations of real estate, including improvements and the assessed 
valuation of class II railroad property of the local unit for the last 3 preceding years) as stated in the Annual Debt 
Statement or the revision thereof last filed.
Year
(1)
2019
Equalized Valuation Real Property with Improvements plus assessed valuation of Class 
II RR Property
$896,633,479.00
(2)
2020
Equalized Valuation Real Property with Improvements plus assessed valuation of Class 
II RR Property
$932,914,468.00
(3)
2021
Equalized Valuation Real Property with Improvements plus assessed valuation of Class 
II RR Property
$980,822,593.00
6
Equalized Valuation Basis – Average of (1), (2) and (3)…………………………………………………
$936,790,180.00
7
Net Debt (Line 4 Above) expressed as a percentage of such equalized valuation basis (Line 6 above) is:
0.722%
Notes
A
If authorization of bonds or notes is permitted by an exception to the debt limit, specify the particular paragraph of N.J.S.A. 40A:2-7 or other section of 
law providing such exception.
B
This form is also to be used in the bonding of separate (not Type I) school districts as required by N.J.S.A. 18A:24-16, and filed before the school district 
election.  In such case pages 3 and 4 should be completed to set forth the computation supporting any deduction in line 3 above.
C
Only the account of bonds or notes about to be authorized should be entered.  The amount of the "down payment" provided in the bond ordinance should 
not be included nor shown as a deduction.


Page 2 of 5
COMPUTATION AS TO INDEBTEDNESS FOR IMPROVEMENT OR EXTENSION OF AN
EXISTING MUNICIPAL PUBLIC UTILITY, N.J.S.A. 40A:2-7(h); NJSA 40A:2-47(a)
1. Annual Debt Statement, excess in revenues of utility
2. Less Interest and principal computed as provided in N.J.S.A. 40A:2-47(a) for all obligations authorized but not issued to the extent not already charged to income in the annual debt 
statement.
3. Excess revenue prior to authorizing proposed obligations = (column 1 minus column 2)
4. Interest and principal calculated for proposed obligations N.J.S.A. 40A:2-47(a)
(a) Interest for one year at 4 1/2% 
(b) First installment of serial bonds legally issuable
(c) Total charges (Items (a) and (b))
1
2
3
4(a)
4(b)
4(c)
Municipal Public Utility
ADS Excess in 
Revenues of Utility
Less Interest and 
Principal
Excess Revenue
Interest for One Year
1st Installment of 
Serial Bonds 
Legally Issuable
Total Charges
Note: If line 3 equals or exceeds line 4, obligations may be authorized under the provisions of N.J.S.A. 40A:2-7(h) as limited by N.J.S.A. 40A:2-47(a).


Page 3 of 5
COMPUTATION OF SCHOOL INDEBTEDNESS AND DEDUCTIONS 
UNDER PROVISIONS OF N.J.S.A. 18A: 24-17
N.J.S.A. 18A:24-19 (Lines 1 to 7)
1
Average of equalized valuations (page 1, line 3) 
$936,790,180.00
2
Gross School District Debt outstanding and authorized but not issued (not including 
proposed issue)
$
3
Less: Sinking funds held for payment of School Debt, by Sinking Fund Commission 
$
4
Net debt for school purposes (line 2, minus line 3) 
$0.00
5
Debt deduction for school purposes’ % (as per line below) 
%
$
(a) 2½% Kindergarten or Grade 1 through Grade 6 
(b) 3 % Kindergarten or Grade 1 through Grade 8
(c) 3½% Kindergarten or Grade 1 through Grade 9 
(d) 4 % Kindergarten or Grade 1 through Grade 12 
6
Available debt deduction (excess, if any, of line 5 over line 4) 
$0.00
7
School Bonds about to be authorized 
$
Note: Omit lines 8 to 13, if line 6 equals or exceeds line 7. or if shown on line 17
N.J.S.A. 18A:24-22 (Lines 8 to 13)
8
Excess of line 7 over line 6
$0.00
9
Municipal Debt Limit (3½% of line 1 above) 
$32,787,656.30
10
Net Debt
$5,080,227.84
11
Available Municipal Borrowing Margin (excess, if any, of line 9 over line 10) 
$27,707,428.46
12
Use of Municipal Borrowing Margin (line 8 not exceeding line 11) 
$0.00
13
Remaining Municipal Borrowing Margin after authorization of proposed School Bonds (line 
11 minus line 12) 
$27,707,428.46
Note: Omit lines 14 to 16, if line 11 equals or exceeds line 8, or if shown on line 17
N.J.S.A. 18A:24-24 (lines 14 to 16)
14
Amount of line 7 
$
15
Amount of Deduction:
(a) Amount of line 6
$0.00
(b) Amount of line 11 
$27,707,428.46
Total 
$27,707,428.46
16
Excess of line 14 over line 15
$0.00


Page 4 of 5
Computation of Regional School Indebtedness
1
2
3
4
5
Average Equalized Valuations 40A:2-43
Municipality
Amount
Percentage
Apportionment of Previous 
Bonds Issued or Authorized
Amount Apportionment of 
Proposed Bond Issue
Total Apportionment of 
Previous Bonds Issued or 
Authorized plus Apportionment 
Proposed Bond Issue 
(Column 3 plus 4)
%
Totals
%


Page 5 of 5
SPECIAL DEBT STATEMENT 
BORROWING POWER AVAILABLE UNDER N.J.S.A. 40A:2-7(f)
1
Amount of accumulated debt incurring capacity under RS 40:1-16(d) as shown 
on the latest Annual Debt Statement. 
$
2
Obligations heretofore authorized in excess of debt limitation and pursuant to:
(a) N.J.S.A. 40A:2-7(d)
$
(b) N.J.S.A. 40A:2-7(f) 
$
(c) N.J.S.A. 40A:2-7(g)
$
Total 
$0.00
3
Available debt incurring capacity (N.J.S.A. 40A:2-7(f)) 
$
4
Obligations about to be authorized pursuant to N.J.S.A. 40A :2-7(f) (If item 3 
equals or exceeds item 4, obligations may be authorized)
$
BORROWING POWER AVAILABLE UNDER N.J.S.A. 40A:2-7(g)
1
Total appropriations made in local unit budget for current fiscal year for payment 
of obligations of local unit included in Annual Debt Statement or revision thereof 
last filed as of preceding December 31, 2021
$
2
Less the amount of such obligations which constitute utility and assessment 
obligations: 
$
3
Excess of item 1 over item 2: 
$0.00
4
Amount raised in the tax levy of the current fiscal year by the local unit for the 
payment of bonds or notes of any school district 
$
5
Amount equal to 2/3 of the sum of item 3 and item 4 
$0.00
6
(a) Amount of obligations heretofore authorized under N.J.S.A. 40A:2-7(g) in 
current fiscal year
$
(b) Amount of authorizations included in 6(a) which were heretofore repealed 
$
(c) Excess of item 6(a) over item 6(b) 
$0.00
7
Excess of item 5 over item 6(c) 
$0.00
8
Obligations about to be authorized 
$
9
Borrowing capacity still remaining after proposed authorization
$0.00
(item 7 less item 8) (If item 7 equals or exceeds item 8, obligations may be authorized)