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2023 Annual Financial Statement
BID #: N/A
DUE: 2/10/2024
VALUE: TBD
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Executive Summary
The provided text is the Annual Financial Statement for the Borough of Rockaway (Morris County) for the year 2023. It includes certifications from the Chief Financial Officer and Registered Municipal Accountant regarding the accuracy and compliance of the financial statements with New Jersey statutes. The document also details various financial aspects of the borough, including fund balances, debt, revenues, and expenditures, spanning multiple funds such as the Current Fund, Trust Funds, and General Capital Fund. A preliminary check was conducted by Kathryn L. Mantell of Nisivoccia, LLP.
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Document Text
--- Document: 2023 Annual Financial Statement Document ---
POPULATION LAST CENSUS
NET VALUATION TAXABLE 2023
MUNICODE
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.
of
, County of
Date
1
2
I hereby certify that the debt shown on Sheets 31 to 34, 49 to 51 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,
(which I have prepared) or
(which I have not prepared)
[eliminate one]
and information required also included herein and that this Statement is an
exact copy of the original on file with the clerk of the governing body, that all calculations, extensions and additions
are correct, that no transfers have been made to or from emergency appropriations and all statements contained herein
are in proof; I further certify that this statement is correct insofar as I can determine from all the books and records
kept and maintained in the Local Unit.
Further, I do hereby certify that I,
, am the Chief Financial
Officer, License #
, of the
of
, County of
and that the
statements annexed hereto and made a part hereof are true statements of the financial condition of the Local Unit as at
December 31, 2023, completely in compliance with N.J.S.A. 40A:5-12, as amended. I also give complete assurance 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, 2023.
Signature
Title
Address
Phone Number
Fax Number
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.
DO NOT USE THESE SPACES
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2023
(UNAUDITED)
FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
COUNTIES - JANUARY 26, 2024
6,598
1434
792,615,487
MUNICIPALITIES - FEBRUARY 10, 2024
MORRIS
ROCKAWAY
BOROUGH
cfo@rockawayborough.org
Examined By:
Preliminary Check
ROCKAWAY
MORRIS
BOROUGH
Examined
kmantell@nisivoccia.com
RMA/Borough Auditor
Patricia Reiche
N-0901
Chief Financial Officer
1 East Main Street, Rockaway, NJ 07866
Sheet 1
973-627-2000
973-627-8294
THE REQUIRED CERTIFICATION BY AN RMA IS AS FOLLOWS:
Preparation by Registered Municipal Account (Statement of Statutory Auditor Only)
I have prepared the post-closing trial balances, related statement and analyses included in the
accompanying Annual Financial Statement from the books of account and records made
available to me by the
of
as of as of December 31, 2023 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,
(except for circumstances as set forth below, no matters)
or
(no matters)
[eliminate one]
came to my attention that caused me to believe that the Annual
Financial Statement for the year ended December 31, 2023 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 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:
Certified by me
this
27
day
, 2024
Sheet 1a
(Address)
973-298-8500
200 Valley Road Suite 300
(Address)
973-298-8501
(Phone Number)
(Fax Number)
Mount Arlington, NJ 07856
Nisivoccia, LLP
(Firm Name)
ROCKAWAY
BOROUGH
January
Kathryn L. Mantell - kmantell@nisivoccia.com
(Registered Municipal Accountant)
One of the following Certifications must be signed by the Chief Financial Officer if
your municipality is eligible for local examination.
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" waiver.
10.
The municipality has not applied for Transitional Aid for 2024.
11.
The municipality did not adopt a Special Emergency ordinance for COVID-related
expenses or loss of revenue (N.J.S.A. 40A:4-53 (l) and (m)).
The undersigned certifies that this municipality has complied in full in meeting ALL of the
above criteria in determining its qualification for local examination of its Budget in accordance
with N.J.A.C. 5:30-7.5.
Municipality:
Chief Financial Officer:
Signature:
Certificate #:
Date:
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:
Chief Financial Officer:
Signature:
Certificate #:
Date:
Sheet 1b
CERTIFICATION OF NON-QUALIFYING MUNICIPALITY
BOROUGH OF ROCKAWAY
Patricia Reiche
N-0901
BOROUGH OF ROCKAWAY
MUNICIPAL BUDGET LOCAL EXAMINATION QUALIFICATION CERTIFICATION
BY
CHIEF FINANCIAL OFFICER
CERTIFICATION OF QUALIFYING MUNICIPALITY
cfo@rockawayborough.org
27-Jan-24
Fiscal Year Ending:
(1)
(3)
Federal programs
Expended
Other Federal
(administered by
Programs
the state)
Expended
$
356,793.19
$
$
Type of Audit required by Title 2 U.S. Code of Federal Regulations
(CFR) (Uniform Requirements) and OMB 15-08.
Single Audit
Program Specific Audit
X
Financial Statement Audit Performed in Accordance
With Government Auditing Standards (Yellow Book)
Note:
All local governments, who are recipients of federal and state awards (financial assistance), must
report the total amount of federal and state funds expended during its fiscal year and the type of audit
required to comply with Title 2 U.S. Code of Federal Regulations (CFR) OMB 15-08. (Uniform
Guidance) and OMB 15-08. The single audit threshold has been been increased to $750,000
beginning with Fiscal Year ending after 1/1/15. Expenditures are defined in Title 2 U.S. Code of
Federal Regulations (CFR) (Uniform Guidance).
(1)
Report expenditures from federal pass-through programs received directly from state government.
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 government.
January 27, 2024
Date
Sheet 1c
December 31, 2023
(2)
Programs
Expended
State
cfo@rockawayborough.org
Signature of Chief Financial Officer
TOTAL
696,993.90
Report of Federal and State Financial Assistance
Expenditures of Awards
22-6002265
Fed I.D. #
BOROUGH OF ROCKAWAY
Municipality
MORRIS
County
INSTRUCTIONS
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 of 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
of
County of
during the year 2023 and that sheets 40 to 68 are unnecessary.
I have therefore removed from this statement the sheets pertaining only to utilities.
Name
Title
(This must be signed by the Chief Financial Officer, Comptroller, Auditor or Registered
Municipal Accountant.)
Certification is hereby made that the Net Valuation Taxable of property liable to taxation for
the tax year 2024 and filed with the County Board of Taxation on January 10, 2024 in accordance
with the requirement of N.J.S.A. 54:4-35, was in the amount of $
IMPORTANT !
READ INSTRUCTIONS
MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2023
ROCKAWAY
SIGNATURE OF TAX ASSESSOR
MORRIS
791,055,087.00
BOROUGH
assessor@rockawayborough.org
Sheet 2
MUNICIPALITY
MORRIS
BOROUGH OF ROCKAWAY
COUNTY
,
Debit
Credit
CASH
7,632,040.67
INVESTMENTS
DUE FROM/TO STATE - VETERANS AND SENIOR CITIZENS
-
11,731.28
Receivables with Full Reserves:
TAXES RECEIVABLE:
PRIOR
-
CURRENT
249,890.75
SUBTOTAL
249,890.75
TAX TITLE LIENS RECEIVABLE
1,357,756.94
PROPERTY ACQUIRED FOR TAXES
961,500.00
CONTRACT SALES RECEIVABLE
-
MORTGAGE SALES RECEIVABLE
-
SEWER RENTS RECEIVABLE
52,550.91
REVENUE ACCOUNTS RECEIVABLE
1,468.41
GRANTS RECEIVABLE
48,329.53
DEFERRED CHARGES:
EMERGENCY
SPECIAL EMERGENCY (40A:4-55)
-
DEFICIT
-
Page Totals:
10,303,537.21
11,731.28
(Do not crowd - add additional sheets)
Sheet 3
Title of Account
NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
POST CLOSING
TRIAL BALANCE - CURRENT FUND
AS AT DECEMBER 31, 2023
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
Debit
Credit
TOTALS FROM PAGE 3
10,303,537.21
11,731.28
APPROPRIATION RESERVES
778,343.53
ENCUMBRANCES PAYABLE
317,293.26
CONTRACTS PAYABLE
26,905.35
SEWER USER FEE OVERPAYMENTS
6,542.20
PREPAID TAXES
161,348.84
DUE TO STATE:
MARRIAGE LICENCE
125.00
LEAD FEES
120.00
DCA TRAINING FEES
2,598.00
LOCAL SCHOOL TAX PAYABLE
-
REGIONAL SCHOOL TAX PAYABLE
-
REGIONAL H.S.TAX PAYABLE
-
COUNTY TAX PAYABLE
-
DUE COUNTY - ADDED & OMMITTED
817.96
SPECIAL DISTRICT TAX PAYABLE
-
RESERVE FOR TAX APPEAL
750,000.00
77,541.18
88,554.80
86,637.57
7,356.22
57,054.90
559,311.00
2,160.00
RESERVE FOR MASTER PLAN
2,130.00
RESERVE FOR SEWER MAINTENANCE
1,062,851.43
PAGE TOTAL
10,303,537.21
3,999,422.52
(Do not crowd - add additional sheets)
Sheet 3a
NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
POST CLOSING
TRIAL BALANCE - CURRENT FUND (CONT'D)
AS AT DECEMBER 31, 2023
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
Title of Account
DUE TO OTHER TRUST FUNDS
RESERVE FOR APPROPRIATED GRANTS:
ENCUMBERED
UNENCUMBERED
RESERVE FOR BODY UNAPPROPRIATED GRANTS
RESERVE FOR MUNICIPAL RELIEF FUND AID
RESERVE FOR SALE OF MUNICIPAL ASSETS
RESERVE FOR REVALUATION OF REAL PROPERTY
Debit
Credit
TOTALS FROM PAGE 3a
10,303,537.21
3,999,422.52
SUBTOTAL
10,303,537.21
3,999,422.52
"C"
RESERVE FOR RECEIVABLES
2,671,496.54
DEFERRED SCHOOL TAX
-
DEFERRED SCHOOL TAX PAYABLE
-
FUND BALANCE
3,632,618.15
TOTALS
10,303,537.21
10,303,537.21
(Do not crowd - add additional sheets)
Sheet 3a.1
Title of Account
NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET
POST CLOSING
TRIAL BALANCE - CURRENT FUND (CONT'D)
AS AT DECEMBER 31, 2023
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C" -- Taxes Receivable Must Be Subtotaled
Debit
Credit
TOTALS
-
-
*To be prepared in compliance with Department of Human Services Municipal Audit Guide,
Public Welfare, General Assistance Program.
Title of Account
(Do not crowd - add additional sheets)
Sheet 4
POST CLOSING
TRIAL BALANCE - PUBLIC ASSISTANCE FUND
ACCOUNTS #1 AND #2 *
AS AT DECEMBER 31, 2023
Debit
Credit
CASH
-
GRANTS RECEIVABLE
-
DUE FROM/TO CURRENT FUND
ENCUMBRANCES PAYABLE
APPROPRIATED RESERVES
-
UNAPPROPRIATED RESERVES
-
TOTALS
-
-
Title of Account
(Do not crowd - add additional sheets)
Sheet 5
POST CLOSING TRIAL BALANCE
FEDERAL AND STATE GRANTS
AS AT DECEMBER 31, 2023
Debit
Credit
ANIMAL CONTROL TRUST FUND
CASH
15,494.05
DUE TO -
DUE FROM STATE OF NJ
7.20
RESERVE FOR ANIMAL CONTROL TRUST FUND
15,501.25
FUND TOTALS
15,501.25
15,501.25
ASSESSMENT TRUST FUND
CASH
-
DUE TO -
RESERVE FOR:
FUND TOTALS
-
-
MUNICIPAL OPEN SPACE TRUST FUND
CASH
-
FUND TOTALS
-
-
LOSAP TRUST FUND
CASH
-
FUND TOTALS
-
-
Title of Account
Sheet 6
POST CLOSING
TRIAL BALANCE - TRUST FUNDS
AS AT DECEMBER 31, 2023
(Assessment Section Must Be Separately Stated)
(Do not crowd - add additional sheets)
Debit
Credit
CDBG TRUST FUND
CASH
-
DUE TO -
FUND TOTALS
-
-
ARTS AND CULTURAL TRUST FUND
CASH
-
FUND TOTALS
-
-
OTHER TRUST FUNDS
CASH
1,535,292.69
DUE FROM - CURRENT FUND
77,541.18
RESERVE FOR:
TAX SALE PREMIUMS
28,900.00
COUNCIL ON AFFORDABLE HOUSING
120,120.20
STATE UNEMPLOYMENT INSURANCE
154,069.19
DEFERRED SICK LEAVE
242,673.40
TRUST ESCROW
219,998.81
ADDISON HILLS ESCROW
9,582.17
FORFEITED ASSETS
31,546.58
RECYCLING
44,518.37
OTHER TRUST FUNDS PAGE TOTAL
1,612,833.87
851,408.72
Title of Account
(Do not crowd - add additional sheets)
Sheet 6.1
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
AS AT DECEMBER 31, 2023
(Assessment Section Must Be Separately Stated)
Debit
Credit
Previous Totals
1,612,833.87
851,408.72
OTHER TRUST FUNDS (continued)
RESERVE FOR:
TREE REPLACEMENT
11,409.12
PARKING OFFENSES ADJUDICATION ACT
1,066.90
PUBLIC DEFENDER
20,114.96
D.A.R.E.
1,407.75
VITAL LIFE
1,000.00
STATE OF NJ HOUSING
772.77
POLICE DONATIONS
5,195.00
NATIONAL NIGHT OUT
2,835.42
FIRE PREVENTION
27,800.38
POLICE OUTSIDE DUTY
67,081.84
RECREATION
72,137.64
STORM RECOVERY
550,603.37
TOTALS
1,612,833.87
1,612,833.87
Sheet 6.2
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
(Assessment Section Must Be Separately Stated)
AS AT DECEMBER 31, 2023
Title of Account
(Do not crowd - add additional sheets)
Debit
Credit
Previous Totals
1,612,833.87
1,612,833.87
OTHER TRUST FUNDS (continued)
TOTALS
1,612,833.87
1,612,833.87
Sheet 6. TOTALS
POST CLOSING
TRIAL BALANCE - TRUST FUNDS (CONT'D)
(Assessment Section Must Be Separately Stated)
AS AT DECEMBER 31, 2023
Title of Account
(Do not crowd - add additional sheets)
Amount
Dec. 31, 2022
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2023
Tax Sale Premiums
28,900.00
28,900.00
COAH
120,120.20
120,120.20
State Unemployment Insurance
144,893.14
22,226.14
13,050.09
154,069.19
Deferred Sick Leave
225,793.66
29,524.96
12,645.22
242,673.40
Reserve for Trust Escrow
157,359.34
166,200.57
103,561.10
219,998.81
Addison Hills Escrow
9,568.54
13.63
9,582.17
Forfeited Assets
31,468.92
77.66
31,546.58
Recycling
40,807.02
13,277.24
9,565.89
44,518.37
Tree Replacement
11,409.12
11,409.12
Parking Offenses Adjudication Act
1,028.90
38.00
1,066.90
Public Defender
19,482.96
632.00
20,114.96
DARE Program
1,575.75
168.00
1,407.75
Vital Life
1,000.00
1,000.00
State of NJ Housing
772.77
772.77
Police Donations
5,195.00
5,195.00
National Night Out
4,361.38
3,300.00
4,825.96
2,835.42
Fire Prevention
25,506.79
6,150.00
3,856.41
27,800.38
Police Outside Duty
164,501.37
481,010.74
578,430.27
67,081.84
Recreation Reserve
68,698.50
8,969.86
5,530.72
72,137.64
Storm Recovery
558,502.08
19,116.22
27,014.93
550,603.37
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
1,592,045.44
$
779,437.02
$
758,648.59
$
1,612,833.87
Sheet 6b
Purpose
SCHEDULE OF TRUST FUND RESERVES
Amount
Dec. 31, 2022
Balance
per Audit
as at
Report
Receipts
Disbursements
Dec. 31, 2023
PREVIOUS PAGE TOTAL
1,592,045.44
779,437.02
758,648.59
1,612,833.87
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
PAGE TOTAL
$
1,592,045.44
$
779,437.02
$
758,648.59
$
1,612,833.87
Sheet 6b TOTAL
SCHEDULE OF TRUST FUND RESERVES (CONT'D)
Purpose
Audit
Title of Liability to which Cash
Balance
Balance
and Investments are Pledged
Dec. 31, 2022
Assessments
Current
Disbursements
Dec. 31, 2023
and Liens
Budget
Assessment Serial Bond Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
Assessment Bond Anticipation Note Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
Other Liabilities
-
Trust Surplus
-
*Less Assets "Unfinanced"
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
-
-
-
-
-
-
-
*Show as red figure
ANALYSIS OF TRUST ASSESSMENT CASH AND INVESTMENTS PLEDGED TO
LIABILITIES AND SURPLUS
RECEIPTS
Sheet 7
Debit
Credit
Estimated Proceeds Bonds and Notes Authorized
-
xxxxxxxxx
Bonds and Notes Authorized but Not Issued
xxxxxxxxx
CASH
2,223,951.98
DUE FROM -
DUE FROM -
FEDERAL AND STATE GRANTS RECEIVABLE
123,403.75
DEFERRED CHARGES TO FUTURE TAXATION:
FUNDED
4,440,000.00
UNFUNDED
993,202.00
DUE TO -
PAGE TOTALS
7,780,557.73
-
Title of Account
(Do not crowd - add additional sheets)
Sheet 8
POST CLOSING
TRIAL BALANCE -- GENERAL CAPITAL FUND
AS AT DECEMBER 31, 2023
Debit
Credit
PREVIOUS PAGE TOTALS
7,780,557.73
-
BOND ANTICIPATION NOTES PAYABLE
993,202.00
GENERAL SERIAL BONDS
4,440,000.00
TYPE 1 SCHOOL BONDS
-
LOANS PAYABLE
-
CAPITAL LEASES PAYABLE
-
RESERVE FOR CAPITAL PROJECTS
IMPROVEMENT AUTHORIZATIONS:
FUNDED
1,177,041.00
UNFUNDED
777,883.95
ENCUMBRANCES PAYABLE
1,033.63
RESERVE TO PAY BANS
CAPITAL IMPROVEMENT FUND
277,728.39
DOWN PAYMENTS ON IMPROVEMENTS
-
CAPITAL FUND BALANCE
113,668.76
7,780,557.73
7,780,557.73
Sheet 8.1
POST CLOSING
TRIAL BALANCE -- GENERAL CAPITAL FUND
AS AT DECEMBER 31, 2023
Title of Account
(Do not crowd - add additional sheets)
RESERVE TO PAY DEBT SERVICE
Less Checks
Cash Book
*On Hand
On Deposit
Outstanding
Balance
51,374.43
7,778,441.98
197,775.74
7,632,040.67
-
15,497.39
3.34
15,494.05
-
-
-
-
1,551,713.05
16,420.36
1,535,292.69
-
2,224,399.11
447.13
2,223,951.98
-
-
6,011.08
985,242.07
44,631.62
946,621.53
1,903,253.07
419.66
1,902,833.41
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total
57,385.51
14,458,546.67
259,697.85
14,256,234.33
* Include Deposits In Transit
** Be sure to include a Public Assistance Account 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, 2023.
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 passbook at December 31, 2023.
All "Certificates of Deposits", 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:
CASH RECONCILIATION DECEMBER 31, 2023
Cash
Sheet 9
Current
Trust - Animal Control
Trust - Assessment
Trust - Municipal Open Space
Trust - LOSAP
Trust - CDBG
Trust - Other
Trust - Arts and Culture
General Capital
UTILITIES:
Water Utility Operating
Registered Muncipal Acocuntant
Grant Fund
Kathryn L. Mantell - kmantell@nisivoccia.com
Water Utility Capital
Current Fund:
Provident Bank #
1699
7,561,882.33
Provident Bank #
2799
213,477.19
NJ Cash Management Fund #
9-171
3,082.46
Animal Control Fund:
Provident Bank #
1640
15,497.39
Other Trust Fund:
Provident Bank #
1681
235,305.46
Provident Bank #
1657
154,069.19
Provident Bank #
1647
9,582.17
Provident Bank #
1665
45,418.37
Provident Bank #
1632
1,004,102.24
Provident Bank #
2930
72,137.64
Provident Bank #
2946
31,097.98
General Capital Fund:
Provident Bank #
1624
2,224,399.11
Water Utility Operating Fund:
Provident Bank #
2955
980,597.32
NJ Cash Management Fund #
4-171
4,644.75
Water Utility Capital Fund:
Provident Bank #
2948
1,903,253.07
PAGE TOTAL
14,458,546.67
Sheet 9a
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
CASH RECONCILIATION DECEMBER 31, 2023 (cont'd)
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.
PREVIOUS PAGE TOTAL
14,458,546.67
TOTAL PAGE
14,458,546.67
CASH RECONCILIATION DECEMBER 31, 2023 (cont'd)
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
Note: Sections N.J.S. 40A:4-61, 40A:4-62 and 40A:4-63 of the Local Budget Law require that
separate bank accounts be maintained for each allocated fund.
Sheet 9a TOTAL
2023
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2023
Revenue
Dec. 31, 2023
Realized
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PAGE TOTALS
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MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE
Sheet 10
Grant
2023
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2023
Revenue
Dec. 31, 2023
Realized
PREVIOUS PAGE TOTALS
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PAGE TOTALS
-
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MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE (cont'd)
Sheet
10.1
Grant
2023
Balance
Budget
Received
Other
Cancelled
Balance
Jan. 1, 2023
Revenue
Dec. 31, 2023
Realized
PREVIOUS PAGE TOTALS
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TOTALS
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MUNICIPALITIES AND COUNTIES
FEDERAL AND STATE GRANTS RECEIVABLE (cont'd)
Grant
Sheet 10
Totals
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
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Sheet
11
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Grant
Transferred from 2023
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
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Sheet
11.1
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
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Sheet
11.2
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Balance
Expended
Other
Cancelled
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
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Sheet 11
Totals
SCHEDULE OF APPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Balance
Received
Other
Balance
Jan. 1, 2023
Budget
Appropriation
Dec. 31, 2023
By 40A:4-87
PREVIOUS PAGE TOTALS
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Sheet 12
Totals
SCHEDULE OF UNAPPROPRIATED RESERVES FOR
FEDERAL AND STATE GRANTS
Transferred from 2023
Grant
Budget Appropriations
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2022 - 2023)
xxxxxxxxxxx
Levy School Year July 1, 2023 - June 30, 2024
xxxxxxxxxxx
Levy Calendar Year 2023
xxxxxxxxxxx
9,255,675.00
Paid
9,255,675.00
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
-
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
xxxxxxxxxx
* Not including Type 1 school debt service, emergency authorizations-schools, transfer to
9,255,675.00
9,255,675.00
Board of Education for use of local schools.
# Must include unpaid requisitions.
Sheet 13
*LOCAL DISTRICT SCHOOL TAX
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2022 - 2023)
xxxxxxxxxxx
Levy School Year July 1, 2023 - June 30, 2024
xxxxxxxxxxx
Levy Calendar Year 2023
xxxxxxxxxxx
Paid
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
-
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
xxxxxxxxxx
# Must include unpaid requisitions.
-
-
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2022 - 2023)
xxxxxxxxxxx
Levy School Year July 1, 2023 - June 30, 2024
xxxxxxxxxxx
Levy Calendar Year 2023
xxxxxxxxxxx
6,790,887.00
Paid
6,790,887.00
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
-
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy - 2023 - 2024)
xxxxxxxxxx
# Must include unpaid requisitions.
6,790,887.00
6,790,887.00
Sheet 14
REGIONAL SCHOOL TAX
REGIONAL HIGH SCHOOL TAX
(Provide a separate statement for each Regional District involved)
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxxx
Due County for Added and Omitted Taxes
xxxxxxxxxxx
4,848.26
2023 Levy:
xxxxxxxxxxx
xxxxxxxxxx
General County
xxxxxxxxxxx
2,279,822.03
County Library
xxxxxxxxxxx
County Health
xxxxxxxxxxx
County Open Space Preservation
xxxxxxxxxxx
57,526.51
Due County for Added and Omitted Taxes
xxxxxxxxxxx
817.96
Paid
2,342,196.80
xxxxxxxxxx
Balance - December 31, 2023
xxxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxx
Due County for Added and Omitted Taxes
817.96
xxxxxxxxxx
2,343,014.76
2,343,014.76
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxxx
2023 Levy: (List Each Type of District Tax Separately - See Footnote)
xxxxxxxxxxx
xxxxxxxxxx
Fire -
xxxxxxxxxxx
xxxxxxxxxx
Sewer -
xxxxxxxxxxx
xxxxxxxxxx
Water -
xxxxxxxxxxx
xxxxxxxxxx
Garbage -
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxxx
xxxxxxxxxx
Total 2023 Levy
xxxxxxxxxxx
-
Paid
xxxxxxxxxx
Balance - December 31, 2023
-
xxxxxxxxxx
-
-
Footnote: Please state the number of districts in each instance.
Sheet 15
COUNTY TAXES PAYABLE
SPECIAL DISTRICT TAXES
Budget
Realized
Excess or Deficit*
-01
-02
-03
Surplus Anticipated
575,000.00
575,000.00
-
Surplus Anticipated with Prior Written Consent of
Director of Local Government Services
-
Miscellaneous Revenue Anticipated:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Adopted Budget
1,831,975.96
2,019,188.04
187,212.08
Added by N.J.S.A. 40A:4-87 (List on 17a)
144,145.13
144,145.13
-
-
-
Total Miscellaneous Revenue Anticipated
1,976,121.09
2,163,333.17
187,212.08
Receipts from Delinquent Taxes
200,000.00
240,581.14
40,581.14
Amount to be Raised by Taxation:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
(a) Local Tax for Municipal Purposes
7,070,647.04
xxxxxxxxx
xxxxxxxxx
(b) Addition to Local District School Tax
xxxxxxxxx
xxxxxxxxx
(c) Minimum Library Tax
303,277.00
xxxxxxxxx
xxxxxxxxx
Total Amount to be Raised by Taxation
7,373,924.04
7,422,994.54
49,070.50
10,125,045.13
10,401,908.85
276,863.72
Debit
Credit
Current Taxes Realized in Cash (Total of Item 10 or 14 on Sheet 22)
xxxxxxxxx
25,262,723.04
Amount to be Raised by Taxation
xxxxxxxxx
xxxxxxxxx
Local District School Tax
9,255,675.00
xxxxxxxxx
Regional School Tax
-
xxxxxxxxx
Regional High School Tax
6,790,887.00
xxxxxxxxx
County Taxes
2,337,348.54
xxxxxxxxx
Due County for Added and Omitted Taxes
817.96
xxxxxxxxx
Special District Taxes
-
xxxxxxxxx
Municipal Open Space Tax
xxxxxxxxx
Municipal Arts and Culture Tax
xxxxxxxxx
Reserve for Uncollected Taxes
xxxxxxxxx
545,000.00
Deficit in Required Collection of Current Taxes (or)
xxxxxxxxx
-
Balance for Support of Municipal Budget (or)
7,422,994.54
xxxxxxxxx
*Excess Non-Budget Revenue (see footnote)
xxxxxxxxx
*Deficit Non-Budget Revenue (see footnote)
xxxxxxxxx
25,807,723.04
25,807,723.04
Source
STATEMENT OF GENERAL BUDGET REVENUES 2023
ALLOCATION OF CURRENT TAX COLLECTIONS
Sheet 17
*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.
Budget
Realized
Excess or Deficit
Recycling Tonnage Grant
4,084.66
4,084.66
-
Municipal Alliance Grant
2,000.00
2,000.00
-
Title NJ Economic Development Authority
123,060.47
123,060.47
-
NJ Stormwater Management Planning Assistant Grant
15,000.00
15,000.00
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PAGE TOTALS
144,145.13
144,145.13
-
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:
Sheet 17a
STATEMENT OF GENERAL BUDGET REVENUES 2023
(Continued)
Miscellaneous Revenues Anticipated: Added By N.J.S.A. 40A:4-87
Source
cfo@rockawayborough.org
Budget
Realized
Excess or Deficit
PREVIOUS PAGE TOTALS
144,145.13
144,145.13
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TOTALS
144,145.13
144,145.13
-
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:
Sheet 17a Totals
STATEMENT OF GENERAL BUDGET REVENUES 2023
(Continued)
Miscellaneous Revenues Anticipated: Added By N.J.S.A. 40A:4-87
Source
cfo@rockawayborough.org
2023 Budget As Adopted
9,980,900.00
2023 Budget - Added by N.J.S.A. 40A:4-87
144,145.13
Appropriated for 2023 (Budget Statement Item 9)
10,125,045.13
Appropriated for 2023 by Emergency Appropriation (Budget Statement Item 9)
Total General Appropriations (Budget Statement Item 9)
10,125,045.13
Add: Overexpenditures (see footnote)
Total Appropriations and Overexpenditures
10,125,045.13
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
8,801,646.60
Paid or Charged - Reserve for Uncollected Taxes
545,000.00
Reserved
778,343.53
Total Expenditures
10,124,990.13
Unexpended Balances Canceled (see footnote)
55.00
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".
2023 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
-
Sheet 18
STATEMENT OF GENERAL BUDGET APPROPRIATIONS 2023
SCHEDULE OF EMERGENCY APPROPRIATIONS FOR LOCAL
DISTRICT SCHOOL PURPOSES
(EXCEPT FOR TYPE I SCHOOL DEBT SERVICE)
Debit
Credit
Excess of Anticipated Revenues:
xxxxxxxxx
xxxxxxxxx
Miscellaneous Revenues anticipated
xxxxxxxxx
187,212.08
Delinquent Tax Collections
xxxxxxxxx
40,581.14
xxxxxxxxx
Required Collection of Current Taxes
xxxxxxxxx
49,070.50
Unexpended Balances of 2023 Budget Appropriations
xxxxxxxxx
55.00
Miscellaneous Revenue Not Anticipated
xxxxxxxxx
353,656.76
Miscellaneous Revenue Not Anticipated:
Proceeds of Sale of Foreclosed Property (Sheet 27)
Payments in Lieu of Taxes on Real Property
xxxxxxxxx
Sale of Municipal Assets
xxxxxxxxx
Unexpended Balances of 2022 Appropriation Reserves
xxxxxxxxx
375,060.72
Prior Years Interfunds Returned in 2023
xxxxxxxxx
5,746.00
Decrease in Grants Receivable
16,241.40
Cancellation of Appropriated Grant Reserves
Deferred School Tax Revenue: (See School Taxes, Sheets 13 & 14)
xxxxxxxxx
xxxxxxxxx
Balance - January 1, 2023
-
xxxxxxxxx
Balance - December 31, 2023
xxxxxxxxx
-
Deficit in Anticipated Revenues:
xxxxxxxxx
xxxxxxxxx
Miscellaneous Revenues Anticipated
-
xxxxxxxxx
Delinquent Tax Collections
-
xxxxxxxxx
xxxxxxxxx
Required Collection on Current Taxes
-
xxxxxxxxx
Interfund Advances Originating in 2023
xxxxxxxxx
Deficit Balance - To Trial Balance (Sheet 3)
xxxxxxxxx
-
Surplus Balance - To Surplus (Sheet 21)
1,027,623.60
xxxxxxxxx
1,027,623.60
1,027,623.60
Sheet 19
RESULTS OF 2023 OPERATIONS
CURRENT FUND
-
xxxxxxxxx
Amount Realized
PREVIOUS PAGE TOTALS
-
Cable Television Franchise Fees
87,639.31
Prior Year Police Outside Duty Administrative Fees
165,849.19
Hotel Tax
29,250.06
NJ Senior Citizens & Veterans Deductions - Admin. Fee
665.00
Construction Code Penalties
145.00
Interest on Investments
19,460.41
Cannabis Fees
5,000.00
Cannabis Transfer Tax
20,859.28
Prior Year Refunds
14,891.43
Other Miscellaneous
9,897.08
Total Amount of Miscellaneous Revenues Not Anticipated (Sheet 19)
353,656.76
SCHEDULE OF MISCELLANEOUS REVENUES
NOT ANTICIPATED
Source
Sheet 20 Totals
Debit
Credit
1.
Balance - January 1, 2023
xxxxxxxxx
3,179,994.55
2.
xxxxxxxxx
3.
Excess Resulting from 2023 Operations
xxxxxxxxx
1,027,623.60
4.
Amount Appropriated in the 2023 Budget - Cash
575,000.00
xxxxxxxxx
5.
Amount Appropriated in 2023 Budget - with Prior
Written Consent of Director of Local Government Services
-
xxxxxxxxx
6.
xxxxxxxxx
7.
Balance - December 31, 2023
3,632,618.15
xxxxxxxxx
4,207,618.15
4,207,618.15
Cash
7,632,040.67
Investments
Sub Total
7,632,040.67
Deduct Cash Liabilities Marked with "C" on Trial Balance
3,999,422.52
Cash Surplus
3,632,618.15
Deficit in Cash Surplus
Other Assets Pledged to Surplus:*
-
Deferred Charges #
Cash Deficit #
Total Other Assets
-
* IN THE CASE OF A "DEFICIT IN CASH SURPLUS", "OTHER ASSETS"
3,632,618.15
WOULD ALSO BE PLEDGED TO CASH LIABILITIES.
# MAY NOT BE ANTICIPATED AS NON-CASH SURPLUS IN 2024 BUDGET.
(1) MAY BE ALLOWED UNDER CERTAIN CONDITIONS.
NOTE: Deferred charges for authorizations under N.J.S.A. 40A:4-55 (Tax Map, etc.), N.J.S.A. 40A:4-55 (Flood Damage, etc.), N.J.S
40A:4-55.1 (Roads and Bridges, etc.) and N.J.S.A. 40A:4-55.13 (Public Exigencies, etc.) to the extent of emergency notes issued
and outstanding for such purposes, together with such emergency notes, may be omitted from this analysis.
(1) Due from State of N.J. Senior
Citizens and Veterans Deduction
Sheet 21
SURPLUS - CURRENT FUND
YEAR 2023
ANALYSIS OF BALANCE AS AT DECEMBER 31, 2023
(FROM CURRENT FUND - TRIAL BALANCE)
1.
Amount of Levy as per Duplicate (Analysis) #
$
25,760,000.50
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
N.J.S.A. 54:4-63.1 et seq.
$
8,983.07
5a. Subtotal 2023 Levy
$
25,768,983.57
5b. Reductions Due to Tax Appeals**
$
5c. Total 2023 Tax Levy
$
25,768,983.57
6.
Transferred to Tax Title Liens
$
69,845.75
7.
Transferred to Foreclosed Property
$
8.
Remitted, Abated or Canceled
$
14,095.77
9.
Discount Allowed
$
10. Collected in Cash: In 2022
$
119,310.49
In 2023*
$
25,281,840.81
Homestead Benefit Credit
$
State's Share of 2023 Senior Citizens
and Veterans Deductions Allowed
$
34,000.00
Total To Line 14
$
25,435,151.30
11. Total Credits
$
25,519,092.82
12. Amount Outstanding December 31, 2023
$
249,890.75
13. Percentage of Cash Collections to Total 2023 Levy,
(Item 10 divided by Item 5c) is
98.70%
Note : If municipality conducted Accelerated Tax Sale or Tax Levy Sale check here ____ and complete sheet 22a.
14. Calculation of Current Taxes Realized in Cash:
Total of Line 10
$
25,435,151.30
Less: Reserve for Tax Appeals Pending
State Division of Tax Appeals
$
172,428.26
To Current Taxes Realized in Cash (Sheet 17)
$
25,262,723.04
Note A: In showing the above percentage the following should be noted:
Where Item 5 shows $1,500,000.00, and Item 10 shows $1,049,977.50,
the percentage represented by the cash collections would be
$1,049,977.50 divided by $1,500,000, or .699985. The correct percentage to
be shown as Item 13 is 69.99% and not 70.00%, nor 69.999%.
# Note: On Item 1 if Duplicate (Analysis) Figure is used; be sure to include
Senior Citizens and Veterans Deductions.
* Include overpayments applied as part of 2023 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
(FOR MUNICIPALITIES ONLY)
CURRENT TAXES - 2023 LEVY
Sheet 22
(1) Utilizing Accelerated Tax Sale
Total of Line 10 Collected in Cash (sheet 22)
$
25,435,151.30
LESS : Proceeds from Accelerated Tax Sale
Net Cash Collected
$
25,435,151.30
Line 5c (sheet 22) Total 2023 Tax Levy
$
25,768,983.57
Percentage of Collection Excluding Accelerated Tax Sale Proceeds
(Net Cash Collected divided by Item 5c) is
98.70%
(2) Utilizing Tax Levy Sale
Total of Line 10 Collected in Cash (sheet 22)
$
25,435,151.30
LESS : Proceeds from Tax Levy Sale (excluding premium)
Net Cash Collected
$
25,435,151.30
Line 5c (sheet 22) Total 2023 Tax Levy
$
25,768,983.57
Percentage of Collection Excluding Tax Levy Sale Proceeds
(Net Cash Collected divided by Item 5c) is
98.70%
Sheet 22a
ACCELERATED TAX SALE / TAX LEVY SALE - CHAPTER 99
To Calculate Underlying Tax Collection Rate for 2023
Utilize this sheet only if you conducted an Accelerated Tax Sale or Tax Levy Sale pursuant to
Chapter 99, P.L. 1997.
Debit
Credit
1.
Balance - January 1, 2023
xxxxxxxxx
xxxxxxxxx
Due From State of New Jersey
xxxxxxxxx
Due To State of New Jersey
xxxxxxxxx
11,731.28
2.
Senior Citizens Deductions Per Tax Billings
3,500.00
xxxxxxxxx
3.
Veterans Deductions Per Tax Billings
30,500.00
xxxxxxxxx
4.
Deductions Allowed By Tax Collector
xxxxxxxxx
5.
Deductions Allowed By Tax Collector - Prior Year Taxes (2022)
6.
7.
Deductions Disallowed By Tax Collector
xxxxxxxxx
8.
Deductions Disallowed By Tax Collector - Prior Year Taxes (2022)
xxxxxxxxx
750.00
9.
Received in Cash from State
xxxxxxxxx
33,250.00
10.
11.
12. Balance - December 31, 2023
xxxxxxxxx
xxxxxxxxx
Due From State of New Jersey
xxxxxxxxx
-
Due To State of New Jersey
11,731.28
xxxxxxxxx
45,731.28
45,731.28
Calculation of Amount to be included on Sheet 22, Item 10 -
2023 Senior Citizens and Veterans Deductions Allowed
Line 2
3,500.00
Line 3
30,500.00
Line 4
-
Sub - Total
34,000.00
Less: Line 7
-
To Item 10, Sheet 22
34,000.00
SCHEDULE OF DUE FROM / TO STATE OF NEW JERSEY
FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Sheet 23
Debit
Credit
Balance - January 1, 2023
xxxxxxxxxx
650,000.00
Taxes Pending Appeals
650,000.00
xxxxxxxxxx
xxxxxxxxx
Interest Earned on Taxes Pending Appeals
xxxxxxxxxx
xxxxxxxxx
xxxxxxxxxx
172,428.26
Interest Earned on Taxes Pending State Appeals
xxxxxxxxxx
Cash Paid to Appellants (Including 5% Interest from Date of Payment)
72,428.26
xxxxxxxxx
Closed to Results of Operation
(Portion of Appeal won by Municipality, including Interest)
xxxxxxxxx
Balance - December 31, 2023
750,000.00
xxxxxxxxx
Taxes Pending Appeals*
750,000.00
xxxxxxxxx
xxxxxxxxx
Interest Earned on Taxes Pending Appeals
xxxxxxxxx
xxxxxxxxx
*Includes State Tax Court and County Board of Taxation
822,428.26
822,428.26
Appeals Not Adjusted by December 31, 2023
January 27, 2024
Date
Sheet 24
SCHEDULE OF RESERVE FOR TAX APPEALS PENDING -
N.J. DIVISION OF TAXATION APPEALS (N.J.S.A. 54:3-27)
Signature of Tax Collector
License #
Contested Amount of 2023 Taxes Collected which are
Pending State Appeal (Item 14, Sheet 22)
taxcollector@rockawayborough.org
T-8570
1. Balance - January 1, 2023
1,524,958.29
xxxxxxxxx
A. Taxes
239,860.23
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
1,285,098.06
xxxxxxxxx
xxxxxxxxx
2. Canceled:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
29.09
B. Tax Title Liens
xxxxxxxxx
3. Transferred to Foreclosed Tax Title Liens:
xxxxxxxxx
xxxxxxxxx
A. Taxes
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
4. Added Taxes
750.00
xxxxxxxxx
5. Added Tax Title Liens
xxxxxxxxx
6.
xxxxxxxxx
A. Taxes - Transfers to Tax Title Liens
xxxxxxxxx
(1)
B. Tax Title Liens - Transfers from Taxes
(1)
-
xxxxxxxxx
7. Balance Before Cash Payments
xxxxxxxxx
1,525,679.20
8.
Totals
1,525,708.29
1,525,708.29
9. Balance Brought Down
1,525,679.20
xxxxxxxxx
10. Collected:
xxxxxxxxx
240,581.14
A. Taxes
240,581.14
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
xxxxxxxxx
xxxxxxxxx
11. Interest and Costs - 2023 Tax Sale
2,813.13
xxxxxxxxx
12. 2023 Taxes Transferred to Liens
69,845.75
xxxxxxxxx
13. 2023 Taxes
249,890.75
xxxxxxxxx
14. Balance - December 31, 2023
xxxxxxxxx
1,607,647.69
A. Taxes
249,890.75
xxxxxxxxx
xxxxxxxxx
B. Tax Title Liens
1,357,756.94
xxxxxxxxx
xxxxxxxxx
15.
Totals
1,848,228.83
1,848,228.83
16. Percentage of Cash Collections to Adjusted Amount Outstanding
(Item No. 10 divided by Item No. 9) is
15.76%
17. Item No.14 multiplied by percentage shown above is
253,365.28
and represents the
maximum amount that may be anticipated in 2024.
(See Note A on Sheet 22 - Current Taxes)
(1) These amounts will always be the same.
Sheet 26
SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS
Debit
Credit
Adjustment between Taxes (Other than Current Year) and Tax Title Liens;
Debit
Credit
1. Balance - January 1, 2023
961,500.00
xxxxxxxxx
2. Foreclosed or Deeded in 2023
xxxxxxxxx
xxxxxxxxx
3.
Tax Title Liens
-
xxxxxxxxx
4.
Taxes Receivable
-
xxxxxxxxx
5A.
xxxxxxxxx
5B.
xxxxxxxxx
6.
Adjustment to Assessed Valuation
xxxxxxxxx
7.
Adjustment to Assessed Valuation
xxxxxxxxx
8. Sales
xxxxxxxxx
xxxxxxxxx
9.
Cash *
xxxxxxxxx
10.
Contract
xxxxxxxxx
11.
Mortgage
xxxxxxxxx
12.
Loss on Sales
xxxxxxxxx
13.
Gain on Sales
xxxxxxxxx
14. Balance - December 31, 2023
xxxxxxxxx
961,500.00
961,500.00
961,500.00
Debit
Credit
15. Balance - January 1, 2023
xxxxxxxxx
16. 2023 Sales from Foreclosed Property
xxxxxxxxx
17. Collected*
xxxxxxxxx
18.
xxxxxxxxx
19. Balance - December 31, 2023
xxxxxxxxx
-
-
-
Debit
Credit
20. Balance - January 1, 2023
xxxxxxxxx
21. 2023 Sales from Foreclosed Property
xxxxxxxxx
22. Collected*
xxxxxxxxx
23.
xxxxxxxxx
24. Balance - December 31, 2023
xxxxxxxxx
-
-
-
Analysis of Sale of Property:
$
-
*Total Cash Collected in 2023
Realized in 2023 Budget
To Results of Operation (Sheet 19)
-
Sheet 27
SCHEDULE OF FORECLOSED PROPERTY
(PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION)
CONTRACT SALES
MORTGAGE SALES
Amount
Dec. 31, 2022
Amount in
Amount
Balance
per Audit
2023
Resulting from
as at
Report
Budget
2023
Dec. 31, 2023
Emergency Authorization -
Municipal*
$
$
$
$
-
Emergency Authorization -
Schools
$
$
$
$
-
Overexpenditure of Appropriations
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
TOTAL DEFERRED CHARGES
$
-
$
-
$
-
$
-
*Do not include items funded or refunded as listed below.
Amount
1.
$
2.
$
3.
$
4.
$
5.
$
Appropriated for
in Budget of
Date Entered
Amount
Year 2023
1.
$
2.
$
3.
$
4.
$
DEFERRED CHARGES
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
- 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 listed on Sheets 29 and 30.)
Caused By
Sheet 28
JUDGMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED
On Account of
In Favor of
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; MUNICIPAL
CONSOLIDATION ACT; FLOOD OR HURRICANE DAMAGE.
Amount
Not Less Than
Balance
Balance
Authorized
1/5 of Amount
Dec. 31, 2022
By 2023
Canceled
Dec. 31, 2023
Authorized*
Budget
By Resolution
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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
* Not less than one-fifth (1/5) of amount authorized but not more than the amount in the column 'Balance Dec. 31, 2023' must be entered here and then raised in the 2024 budget.
Chief Financial Officer
2023
REDUCED IN
Sheet 29
Date
Purpose
N.J.S.A. 40A:4-55.1, ET SEQ., SPECIAL EMERGENCY - DAMAGE CAUSED TO ROADS OR BRIDGES BY SNOW, ICE, FROST OR FLOODS
N.J.S.A. 40A:4-55.13, ET SEQ., SPECIAL EMERGENCY - PUBLIC EXIGENCIES CAUSED BY CIVIL DISTURBANCES
Amount
Not Less Than
Balance
Balance
Authorized
1/3 of Amount
Dec. 31, 2022
By 2023
Canceled
Dec. 31, 2023
Authorized*
Budget
By Resolution
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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:4-55.1 et seq. and
N.J.S.A. 40A:4-55.13 et seq. and are recorded on this page
* Not less than one-third (1/3) of amount authorized but not more than the amount in the column 'Balance Dec. 31, 2023' must be entered here and then raised in the 2024 budget.
Chief Financial Officer
2023
REDUCED IN
Sheet 30
Date
Purpose
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
310,000.00
Outstanding - December 31, 2023
4,440,000.00
4,750,000.00
2024 Bond Maturities - General Capital Bonds
$
2024 Interest on Bonds*
$
192,600.00
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Bond Maturities - Assessment Bonds
$
2024 Interest on Bonds*
$
Total "Interest on Bonds - Debt Service" (*Items)
$
2024 Maturity
Interest
Rate
Total
-
Purpose
Amount Issued
Sheet 31
LIST OF BONDS ISSUED DURING 2023
-
Date of
Issue
xxxxxxxxx
xxxxxxxxx
4,750,000.00
ASSESSMENT SERIAL BONDS
320,000.00
xxxxxxxxx
192,600.00
xxxxxxxxx
-
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR BONDS
GENERAL CAPITAL BONDS
2024 Debt Service
Credit
4,750,000.00
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Refunded
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
2024 Maturity
Interest
Rate
Total
-
xxxxxxxxx
Purpose
-
-
xxxxxxxxx
-
xxxxxxxxx
LOAN
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
LOAN
2024 Debt Service
Credit
xxxxxxxxx
Date of
Issue
Amount Issued
-
Sheet 31a
LIST OF LOANS ISSUED DURING 2023
-
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Refunded
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
2024 Maturity
Interest
Rate
Total
-
Sheet 31a.1
-
-
LIST OF LOANS ISSUED DURING 2023
Purpose
Amount Issued
Date of
Issue
-
LOAN
xxxxxxxxx
xxxxxxxxx
-
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
LOAN
Credit
2024 Debt Service
xxxxxxxxx
xxxxxxxxx
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Refunded
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Total 2024 Debt Service for Loan
$
2024 Maturity
Interest
Rate
Total
-
Sheet 31a.2
-
-
LIST OF LOANS ISSUED DURING 2023
Purpose
Amount Issued
Date of
Issue
-
LOAN
xxxxxxxxx
xxxxxxxxx
-
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
LOAN
Credit
2024 Debt Service
xxxxxxxxx
xxxxxxxxx
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Bond Maturities - Term Bonds
$
2024 Interest on Bonds
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Interest on Bonds
$
2024 Bond Maturities - Term Bonds
$
Total "Interest on Bonds - Type I School Debt Service" (*Items)
$
2024 Maturity
-01
Interest
Rate
Total
-
Outstanding
Dec. 31, 2023
1.
Emergency Notes
$
$
2.
Special Emergency Notes
$
$
3.
Tax Anticipation Notes
$
$
4.
Interest on Unpaid State & County Taxes
$
$
5.
$
$
6.
$
$
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR BONDS
TYPE I SCHOOL TERM BONDS
2024 Debt Service
Credit
xxxxxxxxx
LIST OF BONDS ISSUED DURING 2023
-
-
TYPE I SCHOOL SERIAL BONDS
-
xxxxxxxxx
xxxxxxxxx
2024 INTEREST REQUIREMENT - CURRENT FUND DEBT ONLY
Purpose
Date of
Issue
xxxxxxxxx
Amount Issued
-02
-
2024 Interest
Sheet 32
Requirement
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2023
316,557.00
10/23/2023
316,557.00
10/22/24
5.2500%
16,573.08
10/22/24
676,645.00
10/23/2023
676,645.00
10/22/24
5.2500%
35,425.19
10/22/24
Page Totals
993,202.00
993,202.00
-
51,998.27
Memo: Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate of 20% of the original amount issued annually.
Memo: Type 1 School 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 2021 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2024 or
written intent of permanent financing submitted with statement.
(Do not crowd - add additional sheets)
** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
Sheet 33
Title or Purpose of Issue
2024 Budget Requirements
Ord.#14-21 - Various Capital Improvements
Ord.#23-13 - Various Capital Improvements
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2023
PREVIOUS PAGE TOTALS
993,202.00
993,202.00
-
51,998.27
PAGE TOTALS
993,202.00
993,202.00
-
51,998.27
Memo: Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate of 20% of the original amount issued annually.
Memo: Type 1 School 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 2021 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2024 or
written intent of permanent financing submitted with statement.
(Do not crowd - add additional sheets)
** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
2024 Budget Requirements
Title or Purpose of Issue
Sheet
33.1
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2023
PREVIOUS PAGE TOTALS
993,202.00
993,202.00
-
51,998.27
PAGE TOTALS
993,202.00
993,202.00
-
51,998.27
Memo: Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate of 20% of the original amount issued annually.
Memo: Type 1 School 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 2021 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2024 or
written intent of permanent financing submitted with statement.
(Do not crowd - add additional sheets)
** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.
DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)
2024 Budget Requirements
Title or Purpose of Issue
Sheet 33
Totals
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest**
(Insert Date)
Dec. 31, 2023
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
Total
-
-
-
-
MEMO: *See Sheet 33 for clarification of "Original Date of Issue"
Assessment Notes with an original date of issue of 2021 or prior must be appropriated in full in the 2024 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)
DEBT SERVICE SCHEDULE FOR ASSESSMENT NOTES
Sheet 34
Title or Purpose of Issue
2024 Budget Requirements
Amount
Lease Obligation Outstanding
Dec. 31, 2023
For Principal
For Interest/Fees
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
Total
-
-
-
(Do not crowd - add additional sheets)
SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS
Sheet 34a
Purpose
2024 Budget Requirements
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
Ord.#12-13 - Road Improvements
9,050.29
9,050.29
Ord.#08-14 - Maple Avenue Project
2,689.48
2,689.48
Ord.#12-15 - Various Capital Improvements
4,210.49
1,457.08
2,753.41
Ord.#14-16 - Various Capital Improvements
34,646.00
34,646.00
Ord.#12-19 - Various Capital Improvements
252,301.54
179,462.86
72,838.68
Ord.#05-20 - Sanitary Sewer Rehabilitation Project
40,486.31
40,486.31
Ord.#06-20 - Various Capital Improvements
662,391.27
149,796.32
198,437.99
314,156.96
Ord.#14-21 - Various Capital Improvements
320,991.75
219,752.80
101,238.95
Ord.#10-22 - Various Capital Improvements
882,453.06
664,873.54
217,579.52
Ord.#21-13 - Various Capital Improvements
1,341,800.00
173,264.36
491,890.64
676,645.00
Page Total
1,888,228.44
320,991.75
1,341,800.00
-
1,397,657.25
198,437.99
1,177,041.00
777,883.95
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND)
Sheet 35
IMPROVEMENTS
Specify each authorization by purpose. Do
not merely designate by a code number.
Balance - January 1, 2023
Balance - December 31, 2023
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,888,228.44
320,991.75
1,341,800.00
-
1,397,657.25
198,437.99
1,177,041.00
777,883.95
PAGE TOTALS
1,888,228.44
320,991.75
1,341,800.00
-
1,397,657.25
198,437.99
1,177,041.00
777,883.95
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND) (cont.)
Sheet 35.1
IMPROVEMENTS
Specify each authorization by purpose. Do
not merely designate by a code number.
Balance - January 1, 2023
Balance - December 31, 2023
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,888,228.44
320,991.75
1,341,800.00
-
1,397,657.25
198,437.99
1,177,041.00
777,883.95
PAGE TOTALS
1,888,228.44
320,991.75
1,341,800.00
-
1,397,657.25
198,437.99
1,177,041.00
777,883.95
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 35.2
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND) (cont.)
Balance - January 1, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
2023
Other
Expended
Authorizations
Funded
Unfunded
Authorizations
Canceled
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,888,228.44
320,991.75
1,341,800.00
-
1,397,657.25
198,437.99
1,177,041.00
777,883.95
GRAND TOTALS
1,888,228.44
320,991.75
1,341,800.00
-
1,397,657.25
198,437.99
1,177,041.00
777,883.95
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet 35 Totals
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND) (cont.)
Balance - January 1, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
628,262.14
Received from 2023 Budget Appropriation*
xxxxxxxxx
32,000.00
xxxxxxxxx
Improvement Authorizations Canceled
(financed in whole by the Capital Improvement Fund)
List by Improvements - Direct Charges Made for Preliminary Costs:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
465,340.00
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2023
277,728.39
xxxxxxxxx
743,068.39
743,068.39
*The full amount of the 2023 budget appropriation should be transferred to this account unless the
balance of the appropriation is to be permitted to lapse.
GENERAL CAPITAL FUND
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Sheet 36
82,806.25
xxxxxxxxx
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
Received from 2023 Budget Appropriation*
xxxxxxxxx
Received from 2023 Emergency Appropriation*
xxxxxxxxx
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2023
-
xxxxxxxxx
-
-
*The full amount of the 2023 budget appropriation should be transferred to this account unless the
balance of the appropriation is to be permitted to lapse.
Amount
Total
Down Payment
Additional Funding
Appropriated
Obligations
Provided by
Sources
Authorized
Ordinance
23-13 Various Capital Improvements
1,341,800.00
676,645.00
465,340.00
199,815.00
Total
1,341,800.00
676,645.00
465,340.00
199,815.00
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.
GENERAL CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
Sheet 37
CAPITAL IMPROVEMENTS AUTHORIZED IN 2023
AND DOWN PAYMENTS (N.J.S.A. 40A:2-11)
Purpose
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
193,982.86
Premium on Sale of Bonds
xxxxxxxxx
Funded Improvement Authorizations Canceled
xxxxxxxxx
BOND ANTICIPATION NOTES REDEEMED IN CASH
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
Appropriated to 2023 Budget Revenue
80,314.10
xxxxxxxxx
Balance - December 31, 2023
113,668.76
xxxxxxxxx
193,982.86
193,982.86
GENERAL CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
Sheet 38
YEAR - 2023
A.
1.
Total Tax Levy for Year 2023 was
$
2.
Amount of Item 1 Collected in 2023 (*)
$
3.
Seventy (70) percent of Item 1
$
(*) Including prepayments and overpayments applied.
B.
1.
Did any maturities of bonded obligations or notes fall due during the year 2023?
YES
2.
Have payments been made for all bonded obligations or notes due on or before
December 31, 2023?
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 Calendar Year 2024 budget for the liquidation of all bonded
obligations or notes exceed 25% of the total appropriations for operating purpose in the budget for the year
just ended?
NO
D.
1.
Cash Deficit 2022
$
2.
4% of 2022 Tax Levy for all purposes:
Levy --
$
=
$
3.
Cash Deficit 2023
$
4.
4% of 2023 Tax Levy for all purposes:
Levy --
$
=
$
E.
1.
State Taxes
$
$
$
2.
County Taxes
$
$
$
3.
Amounts due Special Districts
$
$
$
4.
Amount due School Districts for School Tax
$
$
$
Sheet 39
2022
-
817.96
-
-
-
Answer YES or NO
Answer YES or NO
Unpaid
Total
2023
Answer YES or NO
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)
-
817.96
25,768,983.57
18,038,288.50
25,435,151.30
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 Year 2023, please observe
instructions of Sheet 2.
UTILITIES ONLY
Sheet 40
Debit
Credit
Cash
946,621.53
Investments
Due from -
Due from -
Receivables Offset with Reserves:
Consumer Accounts Receivable
238,238.88
Liens Receivable
-
Deferred Charges (Sheet 48)
Cash Liabilities:
Appropriation Reserves
177,293.59
Encumbrances Payable
81,577.97
Accrued Interest on Bonds and Notes
56,898.98
Accounts Payable
14,103.13
Water Rent Overpayments
12,235.32
Reserve for Carbon Filter Replacement
60,000.00
Subtotal - Cash Liabilities
402,108.99
"C"
Reserve for Consumer Accounts and Lien Receivable
238,238.88
Fund Balance
544,512.54
Total
1,184,860.41
1,184,860.41
Bonds and Notes Authorized but Not Issued must be disclosed in this Utility Capital
POST CLOSING
TRIAL BALANCE - WATER UTILITY UTILITY FUND
AS AT DECEMBER 31, 2023
Section in the same manner as set forth in General Capital Fund on Sheet 8
Title of Account
(Do not crowd - add additional sheets)
Sheet 41
Operating and Capital Sections
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Debit
Credit
CAPITAL SECTION:
Est. Proceeds Bonds and Notes Authorized
xxxxxxxxx
Bonds and Notes Authorized but Not Issued
xxxxxxxxx
-
CASH
1,902,833.41
Community Development Block Grant Receivable
125,000.00
DUE FROM CURRENT FUND
FIXED CAPITAL:
COMPLETED
9,208,947.42
AUTHORIZED AND UNCOMPLETED
5,577,125.42
PAGE TOTALS
16,813,906.25
-
Bonds and Notes Authorized but Not Issued must be disclosed in this Utility Capital
POST CLOSING
TRIAL BALANCE - WATER UTILITY UTILITY FUND (cont'd)
AS AT DECEMBER 31, 2023
Section in the same manner as set forth in General Capital Fund on Sheet 8
Sheet 41a
Operating and Capital Sections
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Title of Account
(Do not crowd - add additional sheets)
Debit
Credit
PREVIOUS PAGE TOTALS
16,813,906.25
-
BONDS PAYABLE
4,235,000.00
LOANS PAYABLE
-
CAPITAL LEASES PAYABLE
-
BOND ANTICIPATION NOTES
-
IMPROVEMENT AUTHORIZATIONS:
FUNDED
1,779,342.11
UNFUNDED
-
CONTRACTS PAYABLE
ENCUMBRANCES
DUE TO WATER UTILITY OPERATING
RESERVE FOR AMORTIZATION
9,398,672.84
RESERVE FOR DEFERRED AMORTIZATION
1,152,400.00
RESERVE FOR WATER CAPITAL IMPROVEMENTS
110,063.08
DOWN PAYMENTS ON IMPROVEMENTS
-
CAPITAL IMPROVEMENT FUND
121,112.04
CAPITAL FUND BALANCE
17,316.18
TOTALS
16,813,906.25
16,813,906.25
Operating and Capital Sections
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 - WATER UTILITY UTILITY FUND (cont'd)
AS AT DECEMBER 31, 2023
(Separately Stated)
Cash Liabilities Must Be Subtotaled and Subtotal Must Be Marked With "C"
Title of Account
(Do not crowd - add additional sheets)
Sheet 41a.1
Debit
Credit
CASH
ASSESSMENT NOTES
-
ASSESSMENT SERIAL BONDS
-
FUND BALANCE
-
TOTALS
-
-
Sheet 42
IF MORE THAN ONE UTILITY
EACH ASSESSMENT SECTION MUST BE SEPARATELY STATED
POST CLOSING TRIAL BALANCE -
UTILITY ASSESSMENT TRUST FUNDS
AS AT DECEMBER 31, 2023
Title of Account
(Do not crowd - add additional sheets)
Audit
Title of Liability to which Cash
Balance
Balance
and Investments are Pledged
Dec. 31, 2022
Assessments
Operating
Disbursements
Dec. 31, 2023
and Liens
Budget
Assessment Serial Bond Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
Assessment Bond Anticipation Note Issues:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
Other Liabilities
-
Trust Surplus
-
Less Assets "Unfinanced"*
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
-
-
-
-
-
-
-
-
-
-
-
-
*Show as red figure
ANALYSIS OF WATER UTILITY UTILITY ASSESSMENT TRUST CASH AND INVESTMENTS
PLEDGED TO LIABILITIES AND SURPLUS
RECEIPTS
Sheet 43
Budget
Received
Excess or
in Cash
Deficit*
Operating Surplus Anticipated
250,000.00
250,000.00
-
Operating Surplus Anticipated with Consent of
Director of Local Government
-
RENTS
2,000,000.00
2,248,175.36
248,175.36
MISCELLANEOUS
17,500.00
20,266.45
2,766.45
-
-
-
Reserve for Debt Service
-
Capital Fund Balance
Added by N.J.S.A. 40A:4-87:(List)
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
RESERVE FOR CARBON FILTER REPLACEMENT
60,000.00
60,000.00
-
-
Subtotal
2,327,500.00
2,578,441.81
250,941.81
Deficit (General Budget) **
-
2,327,500.00
2,578,441.81
250,941.81
** Amount in "Received in Cash" column for "Deficit (General Budget)" and amount expended for "Surplus (General Budget)" must
agree with amounts shown for such items on Sheet 45.
Appropriations:
xxxxxxxxx
Adopted Budget
2,327,500.00
Added by N.J.S.A. 40A:4-87
Emergency
Total Appropriations
2,327,500.00
Add: Overexpenditures (See Footnote)
Total Appropriations and Overexpenditures
2,327,500.00
Deduct Expenditures:
Paid or Charged
2,147,996.82
Reserved
177,293.59
Surplus (General Budget)**
Total Expenditures
2,325,290.41
Unexpended Balance Canceled (See Footnote)
2,209.59
FOOTNOTES: - RE: OVEREXPENDITURES:
Every appropriation overexpended in the budget document must be marked with an * and must agree in 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"
Source
SCHEDULE OF WATER UTILITY UTILITY BUDGET - 2023
Sheet 44
BUDGET REVENUES
STATEMENT OF BUDGET APPROPRIATIONS
NOTE: Section 1 of this sheet is required to be filled out ONLY IF the 2023 Water Utility 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:
xxxxxxxxx
Budget Revenue (Not Including "Deficit (General Budget)")
2,578,441.81
Miscellaneous Revenue Not Anticipated
13,751.67
2022 Appropriation Reserves Canceled in 2023
29,409.49
Total Revenue Realized
2,621,602.97
Expenditures:
xxxxxxxxx
Appropriations (Not Including "Surplus (General Budget)")
xxxxxxxxx
Paid or Charged
2,147,996.82
Reserved
177,293.59
Expended Without Appropriation
Cash Refund of Prior Year's Revenue
Total Expenditures
2,325,290.41
Less:
Deferred Charges Included in
Above "Total Expenditures"
Total Expenditures - As Adjusted
2,325,290.41
Excess
296,312.56
Budget Appropriation - Surplus (General Budget)**
Balance of Results of 2023 Operation
("Excess in Operations" - Sheet 46)
296,312.56
Deficit
-
Anticipated Revenue - Deficit (General Budget)**
-
Balance of Results of 2023 Operation
("Operating Deficit - to Trial Balance" - Sheet 46)
-
SECTION 2:
The following Item of '2022 Appropriation Reserves Canceled in 2023' is Due to the Current
fund TO THE EXTENT OF the amount received and Due from the General Budget of 2022 for an
Anticipated Deficit in the Water Utility Utility for 2022
2022 Appropriation Reserves Canceled in 2023
29,409.49
Less:
* Excess (Revenue Realized)
29,409.49
** Items must be shown in same amounts on Sheet 44.
Sheet 45
Anticipated Deficit in 2022 Budget - Amount Received and Due
from Current Fund - If none, enter 'None '
STATEMENT OF 2023 OPERATION
WATER UTILITY UTILITY
Remainder =
Remainder =
Debit
Credit
Excess in Anticipated Revenues
xxxxxxxxx
250,941.81
Unexpended Balances of Appropriations
xxxxxxxxx
2,209.59
Miscellaneous Revenues Not Anticipated
xxxxxxxxx
13,751.67
Unexpended Balances of 2022 Appropriation Reserves*
xxxxxxxxx
29,409.49
Deficit in Anticipated Revenues
-
xxxxxxxxx
xxxxxxxxx
Operating Deficit - to Trial Balance
xxxxxxxxx
-
Excess in Operations - to Operating Surplus
296,312.56
xxxxxxxxx
* See restriction in amount on Sheet 45, SECTION 2
296,312.56
296,312.56
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
498,199.98
Excess in Results of 2023 Operations
xxxxxxxxx
296,312.56
Amount Appropriated in the 2023 Budget - Cash
250,000.00
xxxxxxxxx
Amount Appropriated in 2023 Budget with Prior Written
Consent of Director of Local Government Services
Balance - December 31, 2023
544,512.54
xxxxxxxxx
794,512.54
794,512.54
Cash
946,621.53
Investments
Interfund Accounts Receivable
Subtotal
946,621.53
Deduct Cash Liabilities Marked with "C" on Trial Balance
402,108.99
Operating Surplus Cash or (Deficit in Operating Surplus Cash)
544,512.54
Other Assets Pledged to Surplus:*
Operating Deficit #
Total Other Assets
-
# MAY NOT BE ANTICIPATED AS NON-CASH SURPLUS IN 2023 BUDGET.
544,512.54
*In the case of a "Deficit in Operating Surplus Cash",
"other Assets" would be also pledged to cash liabilities.
RESULTS OF 2023 OPERATIONS - WATER UTILITY UTILITY
Deferred Charges #
Sheet 46
OPERATING SURPLUS - WATER UTILITY UTILITY
ANALYSIS OF BALANCE DECEMBER 31, 2023
(FROM WATER UTILITY UTILITY - TRIAL BALANCE)
xxxxxxxxx
Balance December 31, 2022
$
244,728.56
Increased by:
Rents Levied
$
2,241,685.68
Decreased by:
Collections
$
2,247,078.46
Overpayments applied
$
1,096.90
Transfer to Liens
$
Other
$
$
2,248,175.36
Balance December 31, 2023
$
238,238.88
Balance December 31, 2022
$
Increased by:
Transfers from Accounts Receivable
$
Penalties and Costs
$
Other
$
$
-
Decreased by:
Collections
$
Other
$
$
-
Balance December 31, 2023
$
-
SCHEDULE OF WATER UTILITY UTILITY ACCOUNTS RECEIVABLE
SCHEDULE OF WATER UTILITY UTILITY LIENS
Sheet 47
Amount
Dec. 31, 2022
Amount in
Amount
Balance
per Audit
2023
Resulting
as at
Report
Budget
2023
Dec. 31, 2023
1.
Emergency Authorization -
Municipal*
$
$
$
$
-
2.
$
$
$
$
-
3.
$
$
$
$
-
4.
$
$
$
$
-
5.
$
$
$
$
-
Deficit in Operations
$
$
$
$
-
Total Operating
$
-
$
-
$
-
$
-
6.
$
$
$
$
-
7.
$
$
$
$
-
Total Capital
$
-
$
-
$
-
$
-
*Do not include items funded or refunded as listed below.
Amount
1.
$
2.
$
3.
$
4.
$
5.
$
Appropriated for
in Budget of
Date Entered
Amount
2023
1.
$
2.
$
3.
$
4.
$
Sheet 48
JUDGMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED
In Favor of
On Account of
DEFERRED CHARGES
EMERGENCY AUTHORIZATIONS UNDER N.J.S.A. 40A:4-47 WHICH HAVE BEEN
FUNDED OR REFUNDED UNDER N.J.SA.. 40A:2-3 OR N.J.S.A. 40A:2-51
Date
Purpose
- MANDATORY CHARGES ONLY -
WATER UTILITY UTILITY FUND
(Do not include the emergency authorizations pursuant to N.J.S.A. 40A:4-55, listed on Sheet 29)
Caused By
Amount
Not Less Than
Balance
Balance
Authorized
1/5 of Amount
Dec. 31, 2022
By 2023
Canceled
Dec. 31, 2023
Authorized*
Budget
By Resolution
-
-
-
-
-
-
-
-
-
-
-
-
-
-
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
Sheet 48a
Date
Chief Financial Officer
UTILITY SPECIAL EMERGENCY
Purpose
REDUCED IN 2023
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Bond Maturities - Assessment Bonds
$
2024 Interest on Bonds
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
200,000.00
Outstanding - December 31, 2023
4,235,000.00
4,435,000.00
2024 Bond Maturities - Capital Bonds
$
2024 Interest on Bonds
$
136,329.16
2024 Interest on Bonds (*Items)
$
136,329.16
Less: Interest Accrued to 12/31/2023 (Trial Balance)
$
56,898.98
Subtotal
$
79,430.18
Add: Interest to be Accrued as of 12/31/2024
$
54,541.99
Required Appropriation 2024
$
2024 Maturity
Interest
Rate
-
-
WATER UTILITY UTILITY CAPITAL BONDS
INTEREST ON BONDS - WATER UTILITY UTILITY BUDGET
133,972.17
210,000.00
xxxxxxxxx
xxxxxxxxx
4,435,000.00
xxxxxxxxx
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR BONDS
WATER UTILITY UTILITY ASSESSMENT BONDS
2024 Debt Service
Credit
Sheet 49
-
Purpose
4,435,000.00
Date of
Issue
Amount Issued
LIST OF BONDS ISSUED DURING 2023
xxxxxxxxx
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
2024 Interest on Loans (*Items)
$
-
Less: Interest Accrued to 12/31/2023 (Trial Balance)
$
Subtotal
$
-
Add: Interest to be Accrued as of 12/31/2024
$
Required Appropriation 2024
$
2024 Maturity
Interest
Rate
-
-
WATER UTILITY UTILITY LOAN
INTEREST ON LOANS - WATER UTILITY UTILITY BUDGET
-
xxxxxxxxx
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
WATER UTILITY UTILITY LOAN
2024 Debt Service
Credit
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Sheet 49a
-
Purpose
-
Date of
Issue
Amount Issued
LIST OF LOANS ISSUED DURING 2023
Debit
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
Outstanding - January 1, 2023
xxxxxxxxx
Issued
xxxxxxxxx
Paid
Outstanding - December 31, 2023
-
-
2024 Loan Maturities
$
2024 Interest on Loans
$
2024 Interest on Loans (*Items)
$
-
Less: Interest Accrued to 12/31/2023 (Trial Balance)
$
Subtotal
$
-
Add: Interest to be Accrued as of 12/31/2024
$
Required Appropriation 2024
$
2024 Maturity
Interest
Rate
-
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2024 DEBT SERVICE FOR LOANS
WATER UTILITY UTILITY LOAN
Credit
2024 Debt Service
xxxxxxxxx
xxxxxxxxx
-
LIST OF LOANS ISSUED DURING 2023
WATER UTILITY UTILITY LOAN
xxxxxxxxx
xxxxxxxxx
-
INTEREST ON LOANS - WATER UTILITY UTILITY BUDGET
-
Sheet 49a.1
Purpose
Amount Issued
Date of
Issue
-
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest
(Insert Date)
Dec. 31, 2023
1.
2.
3.
4.
5.
6.
7.
8.
9.
TOTAL
-
-
-
-
Important: If there is more than one utility in the municipality, identify each note.
Memo:
Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate
of 20% of the original amount issued annually.
* See Sheet 33 for clarifications of "Original Date of Issue".
All notes with an original date of issue of 2021 or prior require one legally payable installment to be budgeted if
it is contemplated that such notes will be renewed in 2024 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.
(Do not crowd - add additional sheets)
Sheet 50
DEBT SERVICE FOR WATER UTILITY UTILITY NOTES (OTHER THAN UTILITY ASSESSMENT NOTES)
2024
Title or Purpose of Issue
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest
(Insert Date)
Dec. 31, 2023
1.
2.
3.
4.
5.
6.
7.
8.
9.
TOTAL
-
-
-
-
Important: If there is more than one utility in the municipality, identify each note.
Memo:
Designate all "Capital Notes" issued under N.J.S.A. 40A:2-8(b) with "C". Such notes must be retired at the rate
2024 Interest on Notes
$
-
of 20% of the original amount issued annually.
Less: Interest Accrued to 12/31/2023 (Trial Balance)
$
* See Sheet 33 for clarifications of "Original Date of Issue".
Subtotal
$
-
All notes with an original date of issue of 2021 or prior require one legally payable installment to be budgeted if
Add: Interest to be Accrued as of 12/31/2024
$
it is contemplated that such notes will be renewed in 2024 or written intent of permanent financing submitted.
Required Appropriation 2024
$
-
** If interest on note is financed by ordinance, designate same, otherwise an amount must be included in this
column.
(Do not crowd - add additional sheets)
INTEREST ON NOTES - WATER UTILITY UTILITY BUDGET
DEBT SERVICE FOR WATER UTILITY UTILITY NOTES (OTHER THAN UTILITY ASSESSMENT NOTES)
Sheet 50
Title or Purpose of Issue
2024
Original
Original
Amount
Date
Rate
Interest
Amount
Date of
of Note
of
of
Computed to
Issued
Issue*
Outstanding
Maturity
Interest
For Principal
For Interest
(Insert Date)
Dec. 31, 2023
**
-
-
-
-
Important: If there is more than one utility in the municipality, identify each note.
MEMO:* See Sheet 33 for clarification of "Original Date of Issue"
Utility Assessment Notes with an original date of issue of December 31, 2021 or prior must be appropriated in full in the 2025 Dedicated Utility Assessment Budget or written intent of
permanent financing submitted.
** Interest on Utility Assessment Notes must be included in the Utility Fund Budget appropriation "Interest on Notes".
DEBT SERVICE SCHEDULE FOR WATER UTILITY UTILITY ASSESSMENT NOTES
Sheet 51
Title or Purpose of Issue
2024
Amount
Lease Obligation Outstanding
Dec. 31, 2023
For Prinicpal
For Interest/Fees
Total
-
-
-
SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS WATER UTILITY UTILITY
Sheet 51a
Purpose
2024 Budget Requirements
2023
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
15-16 Various Water Utility Improvements
137,129.52
81,706.72
55,422.80
09-17 Various Water Utility Improvements
52,920.00
25,476.50
27,443.50
07-18 Various Water Utility Improvements
271,279.68
49,731.96
221,547.72
10-19 Acquisition and Installation of Generator
36,754.19
10,791.10
25,963.09
11-19 Various Water Utility Improvements
42,051.91
24,899.91
17,152.00
07-20 Various Water Utility Improvements
21,327.50
13,402.00
7,925.50
14-20 Water Main Improvements
39,270.85
39,270.85
12-21 Various Water Utility Improvements
171,694.93
1,694.93
170,000.00
20-21 Installation of Water Meter and Equipment
435,843.80
435,843.80
09-22 Installation of Water Main
360,000.00
85,905.89
274,094.11
23-12 Various Water Utility Improvements
792,400.00
287,721.26
504,678.74
PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER UTILITY (UTILITY CAPITAL FUND)
Sheet 52
IMPROVEMENTS
Specify each authorization by purpose. Do
not merely designate by a code number.
Balance - January 1, 2023
Balance - December 31, 2023
2023
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet
52.1
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER UTILITY (UTILITY CAPITAL FUND)
Balance - January 1, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
2023
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet
52.2
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER UTILITY (UTILITY CAPITAL FUND)
Balance - January 1, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
2023
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet
52.3
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER UTILITY (UTILITY CAPITAL FUND)
Balance - January 1, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
2023
Expended
Other
Funded
Unfunded
Authorizations
Funded
Unfunded
PREVIOUS PAGE TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
TOTALS
1,568,272.38
-
792,400.00
-
581,330.27
-
1,779,342.11
-
Place an * before each item of "Improvement" which represents a funding or refunding of an emergency authorization.
not merely designate by a code number.
Sheet
52.4
SCHEDULE OF IMPROVEMENT AUTHORIZATIONS WATER UTILITY (UTILITY CAPITAL FUND)
Balance - January 1, 2023
Balance - December 31, 2023
IMPROVEMENTS
Specify each authorization by purpose. Do
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
135,112.04
Received from 2023 Budget Appropriation
xxxxxxxxx
200,000.00
xxxxxxxxx
Improvement Authorizations Canceled
(financed in whole by the Capital Improvement Fund)
List by Improvements - Direct Charges Made for Preliminary Costs:
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
214,000.00
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2023
121,112.04
xxxxxxxxx
335,112.04
335,112.04
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
Received from 2023 Budget Appropriation*
xxxxxxxxx
Received from 2023 Emergency Appropriation*
xxxxxxxxx
Appropriated to Finance Improvement Authorizations
xxxxxxxxx
xxxxxxxxx
Balance - December 31, 2023
-
xxxxxxxxx
-
-
*The full amount of the 2023 budget appropriation should be transferred to this account unless the balance
of the appropriation is to be permitted to lapse.
WATER UTILITY UTILITY CAPITAL FUND
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Sheet 53
WATER UTILITY UTILITY CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
xxxxxxxxx
Amount of Down
Amount
Total
Down Payment
Payment in Budget
Appropriated
Obligations
Provided by
of 2023 or
Authorized
Ordinance
Prior Years
23-12 Various Water
Utility Improvements
792,400.00
214,000.00
792,400.00
792,400.00
-
214,000.00
792,400.00
Debit
Credit
Balance - January 1, 2023
xxxxxxxxx
17,316.18
Premium on Sale of Bonds
xxxxxxxxx
Funded Improvement Authorizations Canceled
xxxxxxxxx
Miscellaneous
Appropriated to Finance Improvement Authorization
xxxxxxxxx
Appropriation to 2023 Budget Reserve
xxxxxxxxx
Balance - December 31, 2023
17,316.18
xxxxxxxxx
17,316.18
17,316.18
WATER UTILITY UTILITY FUND
WATER UTILITY UTILITY CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
2023
Sheet 54
CAPITAL IMPROVEMENTS AUTHORIZED IN 2023
AND DOWN PAYMENTS (N.J.S.A. 40A:2-11)
Purpose
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liquidated damages
Evidence Detected
"...FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY:
MUNICIPALITIES - FEBRUARY 10, 2024..."
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Contacts
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Chief Financial Officer
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RMA/Borough Auditor
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First Discovered
Apr 2, 2026
Last Info Update
Apr 2, 2026
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