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Executive Summary
This document is the 2018 Annual Financial Statement (Unaudited) for the Borough of Riverton, Burlington County, New Jersey. It includes detailed financial information for the fiscal year ending December 31, 2018, covering various funds such as the Current Fund, Federal and State Grant Fund, Capital Fund, Trust Funds (Animal Control, CDBG, LOSAP, Open Space, and Other Trust), and Public Assistance Fund. The report is certified by Chief Financial Officer Dawn Bass and Registered Municipal Accountant Robert Inverso. It outlines assets, liabilities, reserves, fund balances, revenues, expenditures, and debt schedules.
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--- Document: 2018 Annual Finance Statement Document ---
Page 1 of 76
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2018
(UNAUDITED)
POPULATION LAST CENSUS
2,759
NET VALUATION TAXABLE 2018
$241,732,686.00
MUNICODE
0331
FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2019
MUNICIPALITIES - FEBRUARY 10, 2019
ANNUAL FINANCIAL STATEMENT REQUIRED TO BE FILED UNDER NEW JERSEY STATUTES ANNOTATED
40A:5-12, AS AMENDED, COMBINED WITH INFORMATION REQUIRED PRIOR TO CERTIFICATION OF
BUDGETS BY THE DIRECTOR OF THE DIVISION OF LOCAL GOVERNMENT SERVICES
Borough
of
Riverton
County of
Burlington
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:
Dawn Bass
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 Dawn Bass am the Chief Financial Officer, License #N-0707, of the Borough of Riverton,
County of Burlington 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, 2018, completely in compliance with N.J.S.A. 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, 2018.
Prepared by Chief Financial Officer:
No
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.
Signature
Dawn Bass
Title
Address
505A Howard Street
Riverton, NJ 08077
Phone Number
Email
dbass@riverton-nj.com
Page 2 of 76
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 Borough of Riverton as of December 31, 2018 and have applied certain agreed-upon procedures
thereon as promulgated by the Division of Local Government Services, solely to assist the Chief
Financial Officer in connection with the filing of the Annual Financial Statement for the year then ended
as required by N.J.S.A. 40A:5-12, as amended.
Because the agreed-upon procedures do not constitute an examination of accounts made in accordance
with generally accepted auditing standards, I do not express an opinion on any of the post-closing trial
balances, related statements and analyses. In connection with the agreed-upon procedures no matters
came to my attention that caused me to believe that the Annual Financial Statement for the year end
December 31, 2018 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:
Robert Inverso
Registered Municipal Accountant
Inverso & Stewart, LLC
Firm Name
651 Route 73 N Ste 402
Marlton, NJ 08053
Address
856-983-2244
Phone Number
rinverso@iscpasnj.com
Email
Certified by me
3/12/2019
Page 3 of 76
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 2019.
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:
Riverton
Chief Financial Officer:
Dawn Bass
Signature:
Dawn Bass
Certificate #:
Date:
3/12/2019
CERTIFICATION OF NON-QUALIFYING MUNICIPALITY
The undersigned certifies that this municipality does not meet item(s) # 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:
Riverton
Chief Financial Officer:
Signature:
Certificate #:
Date:
3/12/2019
Page 4 of 76
21-60001069
Fed I.D. #
Riverton
Municipality
Burlington
County
Report of Federal and State Financial Assistance
Expenditures of Awards
Fiscal Year Ending: December 31, 2018
(1)
(2)
(3)
Federal Programs
Expended
(administered by
the State)
State Programs
Expended
Other Federal
Programs
Expended
TOTAL
$
$7,036.55
$
Type of Audit required by OMB Uniform
Guidance and N.J. Circular 15-08-OMB:
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.
Dawn Bass
3/12/2019
Signature of Chief Financial Officer
Date
Page 5 of 76
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 Borough of Riverton, County of Burlington during the year 2018.
I have therefore removed from this statement the sheets pertaining only to utilities.
Signature:
Dawn Bass
Name:
Dawn Bass
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, 2018
☒ Certification is hereby made that the Net Valuation Taxable of property liable to taxation for the tax
year 2019 and filed with the County Board of Taxation on January 10, 2019 in accordance with the
requirement of N.J.S.A. 54:4-35, was in the amount of
$241,706,486
James Duda
SIGNATURE OF TAX ASSESSOR
Riverton
MUNICIPALITY
Burlington
COUNTY
Page 6 of 76
CURRENT FUND ASSETS
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Cash:
Cash
3,040,739.90
Change Fund
120.00
Sub Total Cash
3,040,859.90
Investments:
Investments
Sub Total Investments
Other Receivables
Due from State of NJ - Senior Citizens & Veterans Deductions
0.00
Sub Total Assets not offset by Reserve for Receivables
Receivables and Other Assets with Full Reserves
Delinquent Taxes
137,903.63
Tax Title Liens
Mortgage Sales Receivable
0.00
Property Acquired by Taxes
0.00
Sewer Rents Receivable
30,492.32
Revenue Accounts Recievable
5,147.44
Interfund Receivable - General Capital Fund
11,738.11
Due from Other Trust Fund
37,839.45
Due from Animal Control Fund
2,104.13
Sub Total Receivables and Other Assets with Reserves
225,225.08
Deferred Charges
Deferred Charges
Sub Total Deferred Charges
Total Assets
3,266,084.98
Page 7 of 76
CURRENT FUND LIABILITIES, RESERVES AND FUND BALANCE
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Liabilities:
Encumbrances Payable
44,877.68
Appropriation Reserves
238,532.79
Tax Overpayments
26,710.77
Local District School Tax Payable
1,847,748.41
County Taxes Payable
0.00
Due County for Added and Omitted Taxes
1,527.33
Special District Taxes Payable
0.00
Prepaid Taxes
55,041.00
Prepaid Sewer Rents
Sewer Overpayments
1,897.24
Due to State of New Jersey - Senior Citizens & Veterans Deductions
500.00
Due State of NJ - DCA Fees
579.43
Due to General Capital Fund
20,248.55
Due to Other Trust Fund
30,000.00
Due to Federal and State Grant Fund
14,464.55
State Library Aid
Total Liabilities
2,282,127.75
Total Liabilities, Reserves and Fund Balance:
Reserve for Receivables
225,225.08
Fund Balance
758,732.15
Total Liabilities, Reserves and Fund Balance
3,266,084.98
Page 8 of 76
FEDERAL AND STATE GRANT FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Assets
Cash
1,089.43
Federal and State Grants Receivable
64,248.00
Due From Current Fund
14,464.55
Due From General Capital Fund
23,600.00
Total Assets Federal and State Grant Fund
103,401.98
Liabilities
Appropriated Reserves for Federal and State Grants
102,963.08
Unappropriated Reserves for Federal and State Grants
438.90
Total Liabilities Federal and State Grant Fund
103,401.98
Page 9 of 76
CAPITAL FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Assets
Cash
727,513.98
Grants Receivable
59,500.00
Due From Current Fund
20,248.55
Deferred Charges
Deferred Charges to Future Taxation - Unfunded
146,423.32
Deferred Charges to Future Taxation - Funded
1,995,000.00
Deferred Charges
Total Deferred Charges
2,141,423.32
Total Assets General Capital Fund
2,948,685.85
Liabilities
Improvement Authorizations - Funded
762,196.58
Improvement Authorizations - Unfunded
120,393.22
General Capital Bonds
1,995,000.00
Bond Anticipation Notes
Loans Payable
0.00
Loans Payable
0.00
Encumbrances Payable
11,348.02
Reserve For Debt
5,674.28
Capital Improvement Fund
256.76
Down Payments on Improvements
0.00
Due to Current Fund
11,738.11
Due to Federal and State Grant Fund
23,600.00
Total Liabilities and Reserves
2,930,206.97
Fund Balance
Capital Surplus
18,478.88
Total General Capital Liabilities
2,948,685.85
Page 10 of 76
TRUST ASSESSMENT FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Cash:
Cash
Sub Total Cash
Investments
Sub Total Investments
Assets not offset by Receivables
Sub Total Assets not offset by Receivables
Assets offset by the Reserve for Receivables
Assets offset by the Reserve for Receivables
Deferred Charges
Deferred Charges
Sub Total Deferred Charges
Total Assets
Liabilities and Reserves
Assessment Notes
Total Liabilities and Reserves
Fund Balance
Fund Balance
Total Liabilities, Reserves, and Fund Balance
Page 11 of 76
OTHER TRUST FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Trust Animal Control Assets
Cash
2,567.73
Total Dog Trust Assets
2,567.73
Animal Control Trust Reserves
Accounts Payable
3.60
Due to Current Fund
2,104.13
Reserve for Animal Control Fund Expenditures
460.00
Total Dog Trust Reserves
2,567.73
CDBG Assets
Total CDBG Trust Assets
CDBG Reserves
Total CDBG Trust Reserves and Liabilities
LOSAP Trust Assets
Total LOSAP Trust Assets
LOSAP Trust Reserves
Total LOSAP Trust Reserves
Open Space Trust Assets
Total Open Space Trust Assets
Open Space Trust Reserves
Total Open Space Trust Reserves
0.00
Other Trust Assets
Cash
249,125.97
Due From Current Fund
30,000.00
Total Other Trust Assets
279,125.97
Other Trust Reserves
Accounts Payable
8,642.66
Accounts Payable
0.00
Due to Current Fund
37,839.45
Total Miscellaneous Trust Reserves (31-287)
103,517.41
Total Trust Escrow Reserves (31-286)
129,126.45
Total Other Trust Reserves and Liabilities
279,125.97
Page 12 of 76
PUBLIC ASSISTANCE FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Assets
Cash Public Assistance #1
737.03
Cash Public Assistance #2
Total Public Assistance Assets
737.03
Liabilities and Reserves
Reserve for Public Assistance Expenditures
737.03
Total Public Assistance Reserves and Liabilities
737.03
Page 13 of 76
SCHEDULE OF TRUST FUND RESERVES
Purpose
Amount Dec. 31, 2017 Per
Audit Report
Receipts
Disbursements
Balance as of
Dec. 31, 2018
Police Side Jobs
$16,020.00
$80,508.00
$56,160.00
$40,368.00
Dog Park
$150.00
$3,850.00
$4,000.00
$0.00
Uniform Fire Safety
$3,500.00
$
$2,628.50
$871.50
Compensated Absences
$30,000.00
$
$
$30,000.00
Developers Escrow Fund
$71,988.03
$58,038.21
$12,074.27
$117,951.97
Flexible Spending Account
$138.88
$999.96
$931.27
$207.57
Other Trust
$5,161.38
$0.00
$0.00
$5,161.38
POAA
$349.96
$1.52
$
$351.48
Police Forfeited Property
$3,248.72
$938.32
$
$4,187.04
Public Defender
$48.59
$6,596.00
$5,700.00
$944.59
Shade Tree Commission
$3,763.73
$1,500.00
$1,014.40
$4,249.33
Tax Sale Premiums
$43,025.12
$49.36
$31,900.00
$11,174.48
Unemployment Compensation
$14,175.91
$2,076.69
$51.20
$16,201.40
Veteran Affairs Fund
$1,115.12
$
$140.00
$975.12
Totals
$192,685.44
$154,558.06
$114,599.64
$232,643.86
Page 14 of 76
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, 2017
Assessments
and Liens
Current Budget
Other
Disbursements
Balance Dec. 31, 2018
Assessment Bond Anticipation Note Issues:
Other Liabilities
Trust Surplus
Trust Surplus
0.00
0.00
Less Assets “Unfinanced”
Totals
0.00
0.00
Page 15 of 76
CASH RECONCILIATION DECEMBER 31, 2018
Cash
On Hand
On Deposit
Less Checks
Outstanding
Cash Book Balance
Capital - General
49,000.00
713,479.87
34,965.89
727,513.98
Current
51,636.15
3,514,998.69
525,894.94
3,040,739.90
Federal and State Grant Fund
1,089.43
1,089.43
Municipal Open Space Trust Fund
Public Assistance #1**
737.03
737.03
Public Assistance #2**
Trust - Assessment
Trust - Dog License
2,567.73
2,567.73
Trust - Other
520.00
289,503.29
40,897.32
249,125.97
Total
101,156.15
4,522,376.04
601,758.15
4,021,774.04
* - 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,
2018.
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, 2018.
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:
Dawn Bass
Title:
Page 16 of 76
CASH RECONCILIATION DECEMBER 31, 2018 (CONT'D)
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
Bank
Amount
Unemployment Compensation CD
18,973.09
Animal Control Fund
2,567.73
Capital Fund
713,479.87
Current Fund
3,516,088.12
Development Fees
4,421.52
Flexable Spending Account
978.92
Payment in Lieu of Construction
99,880.48
Payroll Fund
66,709.70
POAA
351.48
Police Forfeited Property
4,187.04
Public Assistance #1
737.03
Public Defender
1,302.30
Register of Vital Statistics
88.62
Trust Other Account
81,057.00
Trust Premium Account
7,574.48
Unemployment Compensation
3,978.66
Total
4,522,376.04
Note: Sections N.J.S.A. 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 17 of 76
MUNICIPALITIES AND COUNTIES FEDERAL AND STATE GRANTS RECEIVABLE
Grant
Balance Jan. 1, 2018
2018 Budget
Revenue Realized
Received
Canceled
Other
Balance
Dec. 31, 2018
Other Grant Receivable
Description
Clean Communities
6,098.72
6,098.72
0.00
Drunk Driving Enforcement Fund
366.16
366.16
0.00
Burlington County Park Grant
55,000.00
55,000.00
2011 Road Program - Bank Ave
9,248.00
9,248.00
Burlington County Park Grant - 2014
0.00
Burlington County Park Grant - 2015
0.00
0.00
Total
9,248.00
61,464.88
6,464.88
0.00
0.00
64,248.00
Page 18 of 76
SCHEDULE OF APPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS
Transferred from 2018 Budget
Appropriations
Grant
Balance
Jan. 1, 2018
Budget
Appropriation by
40A:4-87
Expended
Cancelled
Other
Balance
Dec. 31 2018
Other Grant Receivable
Description
2011 Road Program
10,198.00
10,198.00
Alcohol Education & Rehab
3,817.23
3,817.23
Body Armor Grant
5,697.40
1,383.45
877.80
6,203.05
Bullet Proof Vest
438.90
438.90
Burlington County Park
Development
55,000.00
55,000.00
Clean Communities
824.05
6,098.72
2,188.05
4,734.72
Community Steward Incentive
325.00
325.00
County Park Development - 2014
0.00
County Park Development - 2015
0.00
Domestic Violence Grant
137.04
137.04
Drunk Driving Enforcement
5,406.53
366.16
447.10
5,325.59
Emergency Mgmt. Grant
823.59
823.59
Green Community
2,495.00
2,495.00
Motor Vehicle Aggressive Driver
Crack Down
8,076.94
8,076.94
NJ Forestry Services Grant
129.12
129.12
Recycling Tonnage
1,308.48
3,598.05
3,523.60
1,382.93
Stormwater Grant
3,875.97
3,875.97
Total
43,114.35
60,420.40
6,464.88
7,036.55
0.00
0.00
102,963.08
Page 19 of 76
SCHEDULE OF UNAPPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS
Transferred from 2018 Budget
Appropriations
Grant
Balance
Jan. 1, 2018
Budget
Appropriation By
40A:4-87
Receipts
Grants Receivable
Other
Balance
Dec. 31, 2018
Other Grant Receivable
Description
Body Armor
1,383.45
1,383.45
0.00
Bullet Proof Vest
438.90
438.90
438.90
438.90
Recycling Tonnage Grant
3,598.05
3,598.05
0.00
Total
5,420.40
5,420.40
0.00
438.90
0.00
0.00
438.90
Page 20 of 76
LOCAL DISTRICT SCHOOL TAX
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxx
1,767,607.45
School Tax Deferred
(Not in excess of 50% of Levy - 2017 -2018)
xxxxxxxxxx
848,766.00
Prepaid Beginning Balance
Levy School Year July 1, 2018- June 30, 2019
xxxxxxxxxx
5,393,027.00
Levy Calendar Year 2018
xxxxxxxxxx
Paid
5,312,886.04
xxxxxxxxxx
Balance December 31, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
1,847,748.41
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy -2018 -2019)
848,766.00
xxxxxxxxxx
Prepaid Ending Balance
xxxxxxxxxx
8,009,400.45
8,009,400.45
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, 2018
xxxxxxxxxx
0.00
2018 Levy
xxxxxxxxxx
Added and Omitted Levy
xxxxxxxxxx
Interest Earned
xxxxxxxxxx
Expenditures
xxxxxxxxxx
Balance December 31, 2018
0.00
xxxxxxxxxx
0.00
0.00
Page 21 of 76
REGIONAL SCHOOL TAX
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable
xxxxxxxxxx
0.00
School Tax Deferred
(Not in excess of 50% of Levy - 2017 -2018)
xxxxxxxxxx
0.00
Prepaid Beginning Balance
xxxxxxxxxx
Levy School Year July 1, 2018- June 30, 2019
xxxxxxxxxx
Levy Calendar Year 2018
xxxxxxxxxx
Paid
xxxxxxxxxx
Balance December 31, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable
0.00
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2018 -2019)
0.00
xxxxxxxxxx
Prepaid Ending Balance
xxxxxxxxxx
0.00
0.00
Amount Deferred at during Year
# Must include unpaid requisitions
REGIONAL HIGH SCHOOL TAX
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable
xxxxxxxxxx
0.00
School Tax Deferred
(Not in excess of 50% of Levy - 2017 - 2018 )
xxxxxxxxxx
0.00
Prepaid Beginning Balance
xxxxxxxxxx
Levy School Year July 1, 2018- June 30, 2019
xxxxxxxxxx
Levy Calendar Year 2018
xxxxxxxxxx
Paid
xxxxxxxxxx
Balance December 31, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable
0.00
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2018 -2019)
0.00
xxxxxxxxxx
Prepaid Ending Balance
xxxxxxxxxx
0.00
0.00
Amount Deferred at during year
# Must include unpaid requisitions
Page 22 of 76
COUNTY TAXES PAYABLE
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxx
Due County for Added and Omitted Taxes
xxxxxxxxxx
1,733.31
2018 Levy
xxxxxxxxxx
xxxxxxxxxx
General County
xxxxxxxxxx
964,424.87
County Library
xxxxxxxxxx
85,099.17
County Health
xxxxxxxxxx
County Open Space Preservation
xxxxxxxxxx
69,999.54
Due County for Added and Omitted Taxes
xxxxxxxxxx
1,527.33
Paid
1,121,256.89
xxxxxxxxxx
Balance December 31, 2018
xxxxxxxxxx
xxxxxxxxxx
County Taxes
0.00
xxxxxxxxxx
Due County for Added and Omitted Taxes
1,527.33
xxxxxxxxxx
1,122,784.22
1,122,784.22
Paid for Regular County Levies
1,119,523.58
Paid for Added and Omitted Taxes
1,733.31
SPECIAL DISTRICT TAXES
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
0.00
2018Levy (List Each Type of District Tax
Separately – see Footnote)
xxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxx
Total 2018 Levy
xxxxxxxxxx
Paid
xxxxxxxxxx
Balance December 31, 2018
0.00
xxxxxxxxxx
0.00
0.00
Footnote: Please state the number of districts in each instance.
Page 23 of 76
STATEMENT OF GENERAL BUDGET REVENUES 2018
Source
Budget -01
Realized -02
Excess or
Deficit -03
Surplus Anticipated
185,000.00
185,000.00
0.00
Surplus Anticipated with Prior Written Consent of Director
of Local Government
Adopted Budget
956,027.40
1,010,425.99
54,398.59
Added by N.J.S.A. 40A:4-87
6,464.88
6,464.88
0.00
Total Miscellaneous Revenue Anticipated
962,492.28
1,016,890.87
54,398.59
Receipts from Delinquent Taxes
130,000.00
140,615.31
10,615.31
Amount to be Raised by Taxation:
xxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxx
(a) Local Tax for Municipal Purposes
2,065,218.37
xxxxxxxxxx
xxxxxxxxxx
(b) Addition to Local District School Tax
xxxxxxxxxx
xxxxxxxxxx
(c) Minimum Library Tax
xxxxxxxxxx
xxxxxxxxxx
County Only: Total Raised by Taxation
xxxxxxxxxx
xxxxxxxxxx
Total Amount to be Raised by Taxation
2,065,218.37
2,103,826.46
38,608.09
3,342,710.65
3,446,332.64
103,621.99
ALLOCATION OF CURRENT TAX COLLECTIONS
Debit
Credit
Current Taxes Realized in Cash
xxxxxxxxxx
8,442,600.00
Amount to be Raised by Taxation:
xxxxxxxxxx
xxxxxxxxxx
Local District School Tax
5,393,027.00
xxxxxxxxxx
Regional School Tax
xxxxxxxxxx
Regional High School Tax
xxxxxxxxxx
County Taxes
1,119,523.58
xxxxxxxxxx
Due County for Added and Omitted Taxes
1,527.33
xxxxxxxxxx
Special District Taxes
xxxxxxxxxx
Municipal Open Space Tax
xxxxxxxxxx
Reserve for Uncollected Taxes
xxxxxxxxxx
175,304.37
Deficit in Required Collection of Current Taxes (or)
xxxxxxxxxx
Balance for Support of Municipal Budget (or)
2,103,826.46
xxxxxxxxxx
*Excess Non-Budget Revenue (see footnote)
xxxxxxxxxx
*Deficit Non-Budget Revenue (see footnote)
xxxxxxxxxx
8,617,904.37
8,617,904.37
* 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 76
STATEMENT OF GENERAL BUDGET REVENUES 2018
MISCELLANEOUS REVENUES ANTICIPATED: ADDED BY N.J.S.A. 40A:4-87
Source
Budget
Realized
Excess or (Deficit)
Body Armor
Clean Communites Program
6,098.72
6,098.72
0.00
Drunk Driving Enforcement Fund
366.16
366.16
0.00
TOTAL
6,464.88
6,464.88
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:
Dawn Bass
Page 25 of 76
STATEMENT OF GENERAL BUDGET APPROPRIATIONS 2018
2018 Budget as Adopted
3,336,245.77
2018 Budget - Added by N.J.S.A. 40A:4-87
6,464.88
Appropriated for 2018 (Budget Statement Item 9)
3,342,710.65
Appropriated for 2018 Emergency Appropriation (Budget Statement Item 9)
Total General Appropriations (Budget Statement Item 9)
3,342,710.65
Add: Overexpenditures (see footnote)
Total Appropriations and Overexpenditures
3,342,710.65
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
2,896,123.61
Paid or Charged - Reserve for Uncollected Taxes
175,304.37
Reserved
238,532.79
Total Expenditures
3,309,960.77
Unexpended Balances Cancelled (see footnote)
32,749.88
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)
2018 Authorizations
N.J.S.A. 40A:4-46 (After adoption of Budget)
N.J.S.A. 40A:4-20 (Prior to adoption of Budget)
Total Authorizations
Deduct Expenditures:
Paid or Charged
Reserved
Total Expenditures
Page 26 of 76
RESULTS OF 2018 OPERATION
CURRENT FUND
Debit
Credit
Cancelation of Reserves for Federal and State Grants
(Credit)
Cancellation of Federal and State Grants Receivable
(Debit)
Deferred School Tax Revenue: Balance December 31,
CY
848,766.00
Deferred School Tax Revenue: Balance January 1, CY
848,766.00
Deficit in Anticipated Revenues: Delinquent Tax
Collections
0.00
Deficit in Anticipated Revenues: Miscellaneous
Revenues Anticipated
Deficit in Anticipated Revenues: Required Collection
of Current Taxes
0.00
Excess of Anticipated Revenues: Delinquent Tax
Collections
10,615.31
Excess of Anticipated Revenues: Miscellaneous
Revenues Anticipated
54,398.59
Excess of Anticipated Revenues: Required Collection
of Current Taxes
38,608.09
Interfund Advances Originating in CY (Debit)
11,582.00
Miscellaneous Revenue Not Anticipated
41,223.91
Miscellaneous Revenue Not Anticipated: Proceeds of
Sale of Foreclosed Property
Prior Years Interfunds Returned in CY (Credit)
Refund of Prior Year Revenue (Debit)
Sale of Municipal Assets (Credit)
Senior Citizen Deductions Disallowed - Prior Year
Taxes (Debit)
250.00
Statutory Excess in Reserve for Dog Fund
Expenditures (Credit)
Unexpended Balances of 2017 Appropriation Reserves
60,642.64
Unexpended Balances of CY Budget Appropriations
32,749.88
Surplus Balance
226,406.42
xxxxxxxxxx
Deficit Balance
xxxxxxxxxx
1,087,004.42
1,087,004.42
Page 27 of 76
SCHEDULE OF MISCELLANEOUS REVENUES NOT ANTICIPATED
Source
Amount Realized
Prior Year Void
4,763.43
Tire Removal
110.00
Lawsuit Fees Recovered
10,313.23
Sale of Property
1,237.35
Application Fees
200.00
Cat Licences
33.00
Snow Removal
3,967.50
DMV Inspections
300.00
Fence/Sign Permits
1,492.00
Miscellaneous
801.34
Police Reports
418.00
Restitution
Selective Reimbursement
8,945.79
Sewer Interest Charges
6,178.27
Textile Recycling
644.00
Towing
300.00
Vet & SC Admin Fee
520.00
Yard Work - DPW
Zoning Variance
1,000.00
Total Amount of Miscellaneous Revenues Not Anticipated
$41,223.91
Page 28 of 76
SURPLUS – CURRENT FUND
YEAR 2018
Debit
Credit
Amount Appropriated in the CY Budget - Cash
185,000.00
Amount Appropriated in the CY Budget - with
Prior Written Consent of Director of Local
Government Services
Balance January 1, CY (Credit)
717,325.73
Excess Resulting from CY Operations
226,406.42
Miscellaneous Revenue Not Anticipated: Payments
in Lieu of Taxes on Real Property (Credit)
Surplus Balance - To Surplus
Balance December 31, 2018
758,732.15
xxxxxxxxxx
943,732.15
943,732.15
ANALYSIS OF BALANCE DECEMBER 31, 2018
(FROM CURRENT FUND – TRIAL BALANCE)
Cash
3,040,859.90
Investments
Sub-Total
3,040,859.90
Deduct Cash Liabilities Marked with “C” on Trial Balance
2,282,127.75
Cash Surplus
758,732.15
Deficit in Cash Surplus
Other Assets Pledged to Surplus
Due from State of N.J. Senior Citizens and Veterans
Deduction
0.00
Deferred Charges #
0.00
Cash Deficit
0.00
Total Other Assets
0.00
758,732.15
Page 29 of 76
(FOR MUNICIPALITIES ONLY)
CURRENT TAXES – 2018 LEVY
1.
Amount of Levy as per Duplicate (Analysis) #
$8,579,093.47
or
(Abstract of Ratables)
$
2.
Amount of Levy Special District Taxes
$
3.
Amount Levied for Omitted Taxes under N.J.S.A. 54:4-63.12 et. seq.
$
4.
Amount Levied for Added Taxes under
$11,677.99
N.J.S.A. 54:4-63.1 et. seq.
5a.
Subtotal 2018 Levy
$8,590,771.46
5b.
Reductions due to tax appeals **
$
5c.
Total 2018 Tax Levy
$8,590,771.46
6.
Transferred to Tax Title Liens
$
7.
Transferred to Foreclosed Property
$
8.
Remitted, Abated or Canceled
$12,727.64
9.
Discount Allowed
$
10.
Collected in Cash: In 2017
$398,471.30
In 2018*
$8,017,628.70
Homestead Benefit Revenue
$
State's Share of 2018 Senior Citizens and Veterans
Deductions Allowed
$26,500.00
Total to Line 14
$8,442,600.00
11.
Total Credits
$8,455,327.64
12.
Amount Outstanding December 31, 2018
$135,443.82
13.
Percentage of Cash Collections to Total 2018 Levy,
(Item 10 divided by Item 5c) is
98.2752
Note: Did Municipality Conduct Accelerated Tax Sale or Tax Levy
Sale?
No
14.
Calculation of Current Taxes Realized in Cash:
Total of Line 10
$8,442,600.00
Less: Reserve for Tax Appeals Pending
$
State Division of Tax Appeals
To Current Taxes Realized in Cash
$8,442,600.00
Note A: In showing the above percentage the following should be noted:
Where Item 5 shows $8,590,771.46, and Item 10 shows $8,442,600.00, the percentage represented by the
cash collections would be $8,442,600.00 / $8,590,771.46 or 98.2752. The correct percentage to be shown
as Item 13 is 98.2752%.
# 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 2018 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 76
ACCELERATED TAX SALE/TAX LEVY SALE – CHAPTER 99
To Calculate Underlying Tax Collection Rate for 2018
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 2018 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 2018 Tax Levy……………
Percentage of Collection Excluding Accelerated Tax Sale Proceeds
(Net Cash Collected divided by Item 5c) is……………………………………
Page 31 of 76
SCHEDULE OF DUE FROM/TO STATE OF NEW JERSEY
FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Debit
Credit
1
Balance Jan 1, CY: Due From State of New
Jersey (Debit)
1
Balance Jan 1, CY: Due To State of New
Jersey (Credit)
750.00
9
Received in Cash from State (Credit)
26,000.00
5
Sr Citizens Deductions Allowed By Tax
Collector – Prior Years (Debit)
4
Sr. Citizens Deductions Allowed By Tax
Collector (Debit)
250.00
7
Sr. Citizens Deductions Disallowed By Tax
Collector (Credit)
8
Sr. Citizens Deductions Disallowed By Tax
Collector PY Taxes (Credit)
250.00
2
Sr. Citizens Deductions Per Tax Billings
(Debit)
3,500.00
3
Veterans Deductions Per Tax Billings
(Debit)
22,750.00
Balance December 31, 2018
500.00
27,000.00
27,000.00
Calculation of Amount to be included on Sheet 22, Item
10- 2018 Senior Citizens and Veterans Deductions
Allowed
Line 2
3,500.00
Line 3
22,750.00
Line 4
250.00
Sub-Total
26,500.00
Less: Line 7
To Item 10
26,500.00
Page 32 of 76
SCHEDULE OF RESERVE FOR TAX APPEALS PENDING
(N.J.S.A. 54:3-27)
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
0.00
Taxes Pending Appeals
0.00
xxxxxxxxxx
xxxxxxxxxx
Interest Earned on Taxes Pending
Appeals
0.00
xxxxxxxxxx
xxxxxxxxxx
Contested Amount of 2018 Taxes Collected which are
Pending State Appeal
xxxxxxxxxx
Interest Earned on Taxes Pending State Appeals
xxxxxxxxxx
Budget Appropriation
xxxxxxxxxx
Cash Paid to Appellants
(Including 5% Interest from Date of Payment
xxxxxxxxxx
Closed to Results of Operations
(Portion of Appeal won by Municipality, including Interest)
xxxxxxxxxx
Balance December 31, 2018
xxxxxxxxxx
Taxes Pending Appeals*
xxxxxxxxxx
xxxxxxxxxx
Interest Earned on Taxes Pending
Appeals
xxxxxxxxxx
xxxxxxxxxx
*Includes State Tax Court and County Board of Taxation
Appeals Not Adjusted by December 31, 2018
DOLORES ROSSO
Signature of Tax Collector
T-8272
3/12/2019
License #
Date
Page 33 of 76
SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS
Debit
Credit
1.
Balance January 1, 2018
142,792.75
xxxxxxxxxx
A. Taxes
142,792.75
xxxxxxxxxx
xxxxxxxxxx
B. Tax Title Liens
0.00
xxxxxxxxxx
xxxxxxxxxx
2.
Cancelled
A. Taxes
xxxxxxxxxx
3.34
B. Tax Title Liens
xxxxxxxxxx
3.
Transferred to Foreclosed Tax Title Liens:
A. Taxes
xxxxxxxxxx
B. Tax Title Liens
xxxxxxxxxx
4.
Added Taxes
285.71
xxxxxxxxxx
5.
Added Tax Title Liens
xxxxxxxxxx
6.
Adjustment between Taxes (Other than current year)
A. Taxes - Transfers to Tax Title Liens
xxxxxxxxxx
B. Tax Title Liens - Transfers from
Taxes
xxxxxxxxxx
7.
Balance Before Cash Payments
xxxxxxxxxx
143,075.12
8.
Totals
143,078.46
143,078.46
9.
Collected:
xxxxxxxxxx
140,615.31
A. Taxes
140,615.31
xxxxxxxxxx
xxxxxxxxxx
B. Tax Title Liens
xxxxxxxxxx
xxxxxxxxxx
10.
Interest and Costs - 2018 Tax Sale
xxxxxxxxxx
11.
2018 Taxes Transferred to Liens
xxxxxxxxxx
12.
2018 Taxes
135,443.82
xxxxxxxxxx
13.
Balance December 31, 2018
xxxxxxxxxx
137,903.63
A. Taxes
137,903.63
xxxxxxxxxx
xxxxxxxxxx
B. Tax Title Liens
0.00
xxxxxxxxxx
xxxxxxxxxx
14.
Totals
278,518.94
278,518.94
15.
Percentage of Cash Collections to
Adjusted Amount Outstanding
(Item No. 9 divided by Item
No. 7) is
98.2808
16.
Item No. 14 multiplied by percentage
shown above is
135,532.79
and represents the
maximum amount that may be anticipated
in 2019.
(See Note A on Sheet 22 - Current Taxes)
(1) These amounts will always be the
same.
Page 34 of 76
SCHEDULE OF FORECLOSED PROPERTY
(PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION)
Debit
Credit
Adjustment to Assessed Valuation (Credit)
Adjustment to Assessed Valuation (Debit)
Balance January 1, CY (Debit)
0.00
Foreclosed or Deeded in CY: Tax Title Liens (Debit)
Foreclosed or Deeded in CY: Taxes Receivable
(Debit)
Sales: Cash* (Credit)
Sales: Contract (Credit)
Sales: Gain on Sales (Debit)
Sales: Loss on Sales (Credit)
Sales: Mortgage (Credit)
Balance December 31, 2018
xxxxxxxxxx
CONTRACT SALES
Debit
Credit
Balance January 1, CY (Debit)
0.00
Collected * (Credit)
CY Sales from Foreclosed Property (Debit)
Balance December 31, 2018
xxxxxxxxxx
MORTGAGE SALES
Debit
Credit
Balance January 1, CY (Debit)
0.00
Collected * (Credit)
CY Sales from Foreclosed Property (Debit)
Balance December 31, 2018
xxxxxxxxxx
Analysis of Sale of Property:
$
*Total Cash Collected in 2018
Realized in 2018 Budget
To Results of Operation
Page 35 of 76
DEFERRED CHARGES
- MANDATORY CHARGES ONLY -
CURRENT, TRUST, AND GENERAL CAPITAL FUNDS
(Do not include the emergency authorizations pursuant to
N.J.S.A. 40A:4-55, N.J.S.A. 40A:4-55.1 or N.J.S.A. 40A:4-55.13)
Caused By
Amount
Dec. 31, 2017
per Audit
Report
Amount in
2018 Budget
Amount
Resulting from
2018
Balance as at
Dec. 31, 2018
Animal Control Fund
$0.00
$
$
$
Capital -
$0.00
$
$
$
Trust Assessment
$0.00
$
$
$
Trust Other
$0.00
$
$
$
Subtotal Current Fund
$0.00
$
$
$
Subtotal Trust Fund
$0.00
$
$
$
Subtotal Capital Fund
$0.00
$
$
$
Total Deferred Charges
$0.00
$
$
$
EMERGENCY AUTHORIZATIONS UNDER N.J.S.A. 40A:4-47 WHICH
HAVE BEEN FUNDED OR REFUNDED UNDER N.J.S.A. 40A:2-3 OR
N.J.S.A. 40A:2-51
Date
Purpose
Amount
$
JUDGEMENTS ENTERED AGAINST MUNICIPALITY AND NOT
SATISFIED
In Favor Of
On Account Of
Date Entered
Amount
Appropriated for in
Budget of Year
2019
$
Page 36 of 76
N.J.S.A. 40A:4-53 SPECIAL EMERGENCY - TAX MAP; REVALUATION; MASTER PLAN; REVISION AND CODIFICATION OF ORDINANCES; DRAINAGE
MAPS FOR FLOOD CONTROL; PRELIMINARY ENGINEERING STUDIES, ETC. FOR SANITARY SEWER SYSTEM; MUNICI- PAL CONSOLIDATION ACT; FLOOD
OR HURRICANE DAMAGE.
Reduced in 2018
Date
Purpose
Amount
Authorized
Not Less Than 1/5
of Amount
Authorized*
Balance
Dec. 31, 2017
By 2018 Budget
Cancelled by
Resolution
Balance
Dec. 31, 2018
Totals
It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S.A.
40A:4-53 et seq. and are recorded on this page.
Dawn Bass
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, 2018 must be entered here and
then raised in the 2019 budget.
Page 37 of 76
N.J.S.A. 40A:4-55.1, ET SEQ., SPECIAL EMERGENCY - DAMAGE CAUSED TO ROADS/BRIDGES BY SNOW, ICE, FROST OR FLOOD
N.J.S.A. 40A:4-55.13, ET SEQ., SPECIAL EMERGENCY - PUBLIC EXIGENCIES CAUSED BY CIVIL DISTURBANCES
Reduced in 2018
Date
Purpose
Amount
Authorized
Not Less Than 1/3
of Amount
Authorized*
Balance
Dec. 31, 2017
By 2018 Budget
Cancelled by
Resolution
Balance
Dec. 31, 2018
Totals
It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S.A.
40A:4-55 et seq. and N.J.S.A 40A:4-55.13 et seq. are recorded on this page.
Dawn Bass
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, 2018 must be entered here and
then raised in the 2019 budget.
Page 38 of 76
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2019 DEBT SERVICE FOR BONDS
MUNICIPAL GENERAL CAPITAL BONDS
Debit
Credit
2019 Debt Service
Cancelled (Debit)
Issued (Credit)
1,995,000.00
Outstanding January 1, CY (Credit)
0.00
Paid (Debit)
Outstanding Dec. 31, 2018
1,995,000.00
xxxxxxxxxx
1,995,000.00
1,995,000.00
2019 Bond Maturities – General Capital Bonds
$135,000.00
2019 Interest on Bonds
87,072.92
ASSESSMENT SERIAL BONDS
Issued (Credit)
Outstanding January 1, CY (Credit)
0.00
Paid (Debit)
Outstanding Dec. 31, 2018
xxxxxxxxxx
2019 Bond Maturities – General Capital Bonds
$
2019 Interest on Bonds
LIST OF BONDS ISSUED DURING 2018
Purpose
2019 Maturity
Amount Issued
Date of
Issue
Interest
Rate
General Obligation Bonds
135,000.00
1,995,000.00
8/23/2018
4.00% -
5.00%
Total
135,000.00
1,995,000.00
Page 39 of 76
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2019 DEBT SERVICE FOR LOANS
MUNICIPAL GREEN ACRES TRUST LOAN
Debit
Credit
2019 Debt Service
Issued (Credit)
Outstanding January 1, CY (Credit)
0.00
Paid (Debit)
Outstanding Dec. 31,2018
xxxxxxxxxxx
2019 Loan Maturities
$
2019 Interest on Loans
$
Total 2019 Debt Service for Loan
$
GREEN ACRES TRUST LOAN
Issued (Credit)
Outstanding January 1, CY (Credit)
0.00
Paid (Debit)
Outstanding Dec. 31,2018
xxxxxxxxxx
2019 Loan Maturities
$
2019 Interest on Loans
$
Total 2019 Debt Service for Loan
$
LIST OF LOANS ISSUED DURING 2018
Purpose
2019 Maturity
Amount Issued
Date of
Issue
Interest
Rate
Total
Page 40 of 76
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2018 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 41 of 76
Page 42 of 76
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2019 DEBT SERVICE FOR BONDS
TYPE I SCHOOL TERM BONDS
Debit
Credit
2019 Debt Service
Outstanding January 1, CY (Credit)
0.00
Paid (Debit)
Outstanding Dec. 31, 2018
xxxxxxxxxx
2019 Bond Maturities – Term Bonds
$
2019 Interest on Bonds
$
TYPE I SCHOOL SERIAL BOND
Issued (Credit)
Outstanding January 1, CY (Credit)
0.00
Paid (Debit)
Outstanding Dec. 31, 2018
xxxxxxxxxx
2019 Interest on Bonds
2019 Bond Maturities – Serial Bonds
Total “Interest on Bonds – Type 1 School Debt
Service”
LIST OF BONDS ISSUED DURING 2018
Purpose
2019 Maturity -01
Amount Issued -02
Date of
Issue
Interest
Rate
Total
2019 INTEREST REQUIREMENT – CURRENT FUND DEBT ONLY
Outstanding
Dec. 31, 2018
2019 Interest
Requirement
$
$
Page 43 of 76
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
2019 Budget Requirement
Title or Purpose of Issue
Original Amount
Issued
Original Date of
Issue
Amount of Note
Outstanding
Dec. 31, 2018
Date of Maturity
Rate of Interest
For Principal
For Interest
Interest
Computed to
(Insert Date)
0.00
xxxxxxxxxx
0.00
xxxxxxxxxx
xxxxxxxxxx
0.00
0.00
xxxxxxxxxx
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 2016 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2019 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 44 of 76
DEBT SERVICE SCHEDULE FOR ASSESSMENT NOTES
2019 Budget Requirement
Title or Purpose of Issue
Original Amount
Issued
Original Date of
Issue
Amount of
Note
Outstanding
Dec. 31, 2018
Date of Maturity
Rate of Interest
For Principal
For Interest
Interest
Computed to
(Insert Date)
xxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxx
Assessment Notes with an original date of issue of December 31, 2016 or prior must be appropriated in full in the 2019 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 45 of 76
SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS
2019 Budget Requirement
Purpose
Amount of Obligation
Outstanding Dec. 31, 2018
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 46 of 76
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND)
Balance – January 1, 2018
Balance – December 31, 2018
IMPROVEMENTS
Specify each authorization by purpose.
Do not merely designate by a code
number
Funded
Unfunded
2018
Authorizations
Refunds,
Transfers, &
Encumbrances
Expended
Authorizations
Canceled
Funded
Unfunded
Ord. 2018-03 Multi-purpose
542,747.00
88,194.61
454,552.39
Ord 2002-4 Multipurpose
1,211.66
0.00
1,211.66
Ord 2007-3 Multipurpose
22,589.47
0.00
22,589.47
Ord 2009-5 Road Program
0.00
65,636.32
65,636.32
Ord 2010-4 Multipurpose
0.00
34,579.90
3,298.00
31,281.90
Ord 2011-8 Multipurpose
0.00
29,780.00
29,780.00
Ord 2013-5 Multipurpose
0.00
23,690.79
215.79
23,475.00
Ord 2014-8 Multipurpose
8,632.88
1,299.00
7,333.88
Ord 2015-2 Multipurpose
500.00
98,443.38
16,868.45
82,074.93
Ord 2016-4 Multipurpose
0.00
42,905.87
25,066.60
17,839.27
Ord 2017-8 Multipurpose
4,850.00
314,623.69
172,874.50
146,599.19
Total
29,151.13
618,292.83
542,747.00
0.00
307,601.16
0.00
762,196.58
120,393.22
Page 47 of 76
GENERAL CAPITAL FUND
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Debit
Credit
Appropriated to Finance Improvement Authorizations
27,137.00
Balance January 1, CY (Credit)
256.76
Improvement Authorizations Canceled (financed in whole by the
Capital Improvement Fund) (Credit)
Received from CY Budget Appropriation * (Credit)
27,137.00
Balance December 31, 2018
256.76
xxxxxxxxxx
27,393.76
27,393.76
* The full amount of the 2018 budget appropriation should be transferred to this account unless the
balance of the appropriation is to be permitted to lapse.
Page 48 of 76
GENERAL CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
Debit
Credit
Balance January 1, CY (Credit)
0.00
Received from CY Budget Appropriation * (Credit)
Received from CY Emergency Appropriation * (Credit)
Balance December 31, 2018
xxxxxxxxxx
*The full amount of the 2018 appropriation should be transferred to this account unless the balance of the
appropriation is permitted to lapse.
CAPITAL IMPROVEMENTS AUTHORIZED IN 2018
AND DOWN PAYMENTS (N.J.S.A. 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 2018 or
Prior Years
Ord. 2018-03 Multi-purpose
542,747.00
515,610.00
27,137.00
Total
542,747.00
515,610.00
27,137.00
0.00
NOTE - Where amount in column "Down Payment Provided by Ordinance" is LESS than 5% of amount
in column "Total Obligations Authorized", explanation must be made part of or attached to this sheet.
Page 49 of 76
GENERAL CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
YEAR – 2018
Debit
Credit
Appropriated to CY Budget Revenue (Debit)
Appropriated to Finance Improvement Authorizations (Debit)
Balance January 1, CY (Credit)
18,478.88
Funded Improvement Authorizations Canceled (Credit)
Miscellaneous - Premium on Sale of Serial Bonds (Credit)
Premium on Sale of Bonds (Credit)
Balance December 31, 2018
18,478.88
xxxxxxxxxx
18,478.88
18,478.88
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, 2018
2.
Amount of Cash in Special Trust Fund as of December 31, 2018(Note
A)
3.
Amount of Bonds Issued Under Item 1
Maturing in 2019
4.
Amount of Interest on Bonds with a
Covenant - 2019 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 2019
appropriation column.
Page 50 of 76
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 2018 was
8,590,771.46
2. Amount of Item 1 Collected in 2018 (*)
8,442,600.00
3. Seventy (70) percent of Item 1
6,013,540.02
(*) Including prepayments and overpayments applied.
B.
1. Did any maturities of bonded obligations or notes fall due during the year 2018?
Answer YES or NO:
Yes
2. Have payments been made for all bonded obligations or notes due on or before December 31, 2018?
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 2019 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 2017
0.00
2a. 2017 Tax Levy
2b. 4% of 2017 Tax Levy for all purposes:
3. Cash Deficit 2018
4. 4% of 2018 Tax Levy for all purposes:
0.00
E.
Unpaid
2017
2018
Total
1. State Taxes
$0.00
$
$
2. County Taxes
$
$1,527.33
$1,527.33
3. Amounts due Special
Districts
$0.00
$0.00
$
4. Amounts due School
Districts for Local School Tax
$
$1,847,748.41
$1,847,748.41
Page 51 of 76
Page 52 of 76
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 53 of 76
Balance Sheet - Utility Operating Fund Assets
AS OF DECEMBER 31,
Cash:
Investments:
Accounts Receivable:
Interfunds Receivable:
Deferred Charges
Page 54 of 76
Balance Sheet - Utility Operating Fund Liabilities, Reserves & Fund Balance
AS OF DECEMBER 31,
Liabilities:
Fund Balance:
Page 55 of 76
Balance Sheet - Utility Capital Fund Assets
AS OF DECEMBER 31,
Cash:
Accounts Receivable:
Page 56 of 76
Balance Sheet - Utility Capital Fund Liabilities, Reserves & Fund Balance
AS OF DECEMBER 31,
Liabilities:
Fund Balance:
Page 57 of 76
Balance Sheet - Utility Assessment Fund
AS OF DECEMBER 31,
Assets:
Liabilities and Reserves:
Liabilities, Reserves, and Fund Balance:
Page 58 of 76
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
Other
Disbursements
Balance Dec. 31,
Assessment Serial Bond Issues:
Assessment Bond Anticipation Notes
Other Liabilities
Trust Surplus
Less Assets “Unfinanced”
Total
Page 59 of 76
Schedule of Utility Budget -
Budget Revenues
Source
Budget
Received in Cash
Excess or Deficit
Operating Surplus Anticipated
Operating Surplus Anticipated with Consent of Director of Local
Govt. Services
Rents
Miscellaneous Revenue Anticipated
Miscellaneous
Added by N.J.S.A. 40A:4-87: (List)
Subtotal Additional Miscellaneous Revenues
Subtotal
Deficit (General Budget)
Page 60 of 76
Statement of Budget Appropriations
Appropriations
Total Appropriations
Add: Overexpenditures
Total Overexpenditures
Total Appropriations & Overexpenditures
Deduct Expenditures
Surplus
Total Surplus
Total Expenditure & Surplus
Unexpended Balance Cancelled
Page 61 of 76
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 2017 Operation"
Remainder= ("Excess in Operations")
Deficit
Balance of "Results of 2017 Operation" Remainder= ("Operating Deficit - to Trial Balance")
Page 62 of 76
Section 2:
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 76
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
Analysis of Balance December 31,
(From Utility – Trial Balance)
Cash
Investments
Interfund Accounts Receivable
Subtotal
Deduct Cash Liabilities Marked with "C" on Trial Balance
Page 64 of 76
Operating Surplus Cash or (Deficit in Operating Surplus Cash)
Other Assets Pledged to Operating Surplus*
Deferred Charges #
Operating Deficit #
Total Other Assets
Page 65 of 76
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 66 of 76
Deferred Charges
- Mandatory Charges Only -
Utility Fund
(Do not include the emergency authorizations pursuant to N.J.S.A. 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.A. 40A:4-47 Which Have Been
Funded or Refunded Under N.J.S.A. 40A:2-3 OR N.J.S.A. 40A:2-51
Date
Purpose
Amount
Judgements Entered Against Municipality and Not Satisfied
In Favor Of
On Account Of
Date Entered
Amount
Appropriated for in Budget
of Year
Page 67 of 76
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
Page 68 of 76
List of Bonds Issued During
Purpose
Maturity
Amount Issued
Date of Issue
Interest Rate
Page 69 of 76
Schedule of Loans Issued and Outstanding
and Debt Service for Loans
UTILITY LOAN
Loan
Outstanding
January 1,
Issued
Paid
Other
Description
Other Debit
Other Credit
Outstanding
December 31,
Loan Maturities
Interest on Loans
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 70 of 76
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 71 of 76
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 72 of 76
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 73 of 76
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
Refunds, Transfers
and Encumbrances
Expended
Authorizations
Canceled
Funded
Unfunded
Total
Page 74 of 76
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 75 of 76
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 76 of 76
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"...FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2019
MUNICIPALITIES - FEBRUARY 10, 2019..."
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Chief Financial Officer
hidden@email.com
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Tax Collector
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Apr 2, 2026
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