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Executive Summary
The document is the Annual Financial Statement (Unaudited) for the Borough of Roosevelt, Monmouth County, New Jersey, for the year 2018. Prepared by Chief Financial Officer George Lang, the statement includes details on various funds including the Current Fund, Federal and State Grant Fund, Capital Fund, Trust Assessment Fund, and Water & Sewer Utility Funds. It provides a comprehensive overview of the borough's financial condition, assets, liabilities, revenues, and expenditures as of December 31, 2018, in compliance with N.J.S.A. 40A:5-12.
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--- Document: 2018 - Annual Financial Statement Document ---
Page 1 of 77
ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2018
(UNAUDITED)
POPULATION LAST CENSUS
933
NET VALUATION TAXABLE 2018
$85,814,213.00
MUNICODE
1341
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
Roosevelt
County of
Monmouth
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:
George Lang
(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 George Lang am the Chief Financial Officer, License #N-0227, of the Borough of Roosevelt,
County of Monmouth 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:
Yes
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
George Lang
Title
Chief Financial Officer
Address
33 N. Rochdale Avenue
PO BOX 128
Roosevelt, NJ 08555
US
Phone Number
609 448-0539
Email
cfo@rooseveltnj.us
Page 2 of 77
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 Roosevelt 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 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:
Registered Municipal Accountant
Firm Name
36 West Main Street Suite 303
Freehold, NJ 07728-2291
Address
Phone Number
GStank@sklein-cpa.com
Email
Certified by me
3/24/2019
Page 3 of 77
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:
Roosevelt
Chief Financial Officer:
George Lang
Signature:
George Lang
Certificate #:
N-0227
Date:
4/3/2019
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:
Roosevelt
Chief Financial Officer:
Signature:
Certificate #:
Date:
3/24/2019
Page 4 of 77
21-6001074
Fed I.D. #
Roosevelt
Municipality
Monmouth
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
$1,047.99
$11,262.40
$0.00
Type of Audit required by OMB Uniform
Guidance and N.J. Circular 15-08-OMB:
Financial Statement Audit Performed in
Accordance with Government Auditing
Standards (Yellow Book)
Note: All local governments, who are recipients of federal and state awards (financial
assistance), must report the total amount of federal and state funds expended during its
fiscal year and the type of audit required to comply with OMB Uniform Guidance and
N.J. Circular 15-08 OMB. The single audit threshold has been increased to $750,000
beginning with fiscal year starting 1/1/2015.
(1) Report expenditures from federal pass-through programs received directly from state
governments. Federal pass-through funds can be identified by the Catalog of Federal
Domestic Assistance (CFDA) number reported in the State's grant/contract agreements.
(2) Report expenditures from state programs received directly from state government or indirectly
from pass-through entities. Exclude state aid (i.e., CMPTRA, Energy Receipts tax, etc.)
since there are no compliance requirements.
(3) Report expenditures from federal programs received directly from the federal government or
indirectly from entities other than state governments.
George Lang
4/3/2019
Signature of Chief Financial Officer
Date
Page 5 of 77
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 Roosevelt, County of Monmouth during the year 2018.
I have therefore removed from this statement the sheets pertaining only to utilities.
Signature:
Name:
Title:
(This must be signed by the Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.)
MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 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
$86,045,661
Donna Taylor
SIGNATURE OF TAX ASSESSOR
Roosevelt
MUNICIPALITY
Monmouth
COUNTY
Page 6 of 77
CURRENT FUND ASSETS
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Cash:
Cash
1,408,647.67
Sub Total Cash
1,408,647.67
Investments:
Other Receivables
Receivables and Other Assets with Full Reserves
Delinquent Property Taxes Receivable
38,700.14
Property Acquired by Taxes
181,700.00
Revenue Accounts Receivable
27.52
Due From Water-Sewer Operating
37,709.20
Sub Total Receivables and Other Assets with Reserves
258,136.86
Deferred Charges
Total Assets
1,666,784.53
Page 7 of 77
CURRENT FUND LIABILITIES, RESERVES AND FUND BALANCE
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Liabilities:
Reserve for Encumbrances
35,022.19
Appropriation Reserves
114,933.74
Accounts Payable
28,399.00
Local District School Tax Payable
298,664.50
Due County for Added and Omitted Taxes
518.37
Prepaid Taxes
17,457.07
Marriage Licenses Payable
50.00
Due to Grant Fund
18,982.71
Reserve for Cable TV Appropriated
5,000.00
Total Liabilities
519,027.58
Total Liabilities, Reserves and Fund Balance:
Reserve for Receivables
258,136.86
Fund Balance
889,620.09
Total Liabilities, Reserves and Fund Balance
1,666,784.53
Page 8 of 77
FEDERAL AND STATE GRANT FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Assets
Federal and State Grants Receivable
2,893.19
Due From Current Fund
18,982.71
Total Assets Federal and State Grant Fund
21,875.90
Liabilities
Appropriated Reserves for Federal and State Grants
21,875.90
Total Liabilities Federal and State Grant Fund
21,875.90
Page 9 of 77
CAPITAL FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Assets
Cash
134,829.75
General Capital Grants Receivable
210,000.00
Deferred Charges
Deferred Charges to Future Taxation - Unfunded
381,250.00
Deferred Charges to Future Taxation - Funded
105,000.00
Total Deferred Charges
486,250.00
Total Assets General Capital Fund
831,079.75
Liabilities
Reserve for Encumbrances
54,297.50
Improvement Authorizations-Funded
173,577.63
Improvement Authorizations - Unfunded
381,250.00
Bonds Payable
105,000.00
Reserve for Building Improvements
18,495.50
Capital Improvement Fund
96,603.15
Total Liabilities and Reserves
829,223.78
Fund Balance
Fund Balance
1,855.97
Total General Capital Liabilities
831,079.75
Page 10 of 77
TRUST ASSESSMENT FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Cash:
Investments
Assets not offset by Receivables
Assets offset by the Reserve for Receivables
Deferred Charges
Liabilities and Reserves
Fund Balance
Page 11 of 77
OTHER TRUST FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Animal Control Trust Assets
Cash Animal Control
985.80
Total Dog Trust Assets
985.80
Animal Control Trust Liabilities
Reserve For Animal Control
985.80
Total Dog Trust Reserves
985.80
CDBG Trust Assets
CDBG Trust Liabilities
LOSAP Trust Assets
LOSAP Trust Liabilities
Open Space Trust Assets
Open Space Trust Liabilities
Other Trust Assets
Cash Trust
35,869.86
Total Other Trust Assets
35,869.86
Other Trust Liabilities
Reserve for Payroll Deductions
2,072.02
Total Miscellaneous Trust Reserves (31-287)
2,147.29
Total Trust Escrow Reserves (31-286)
31,650.55
Total Other Trust Reserves and Liabilities
35,869.86
Page 12 of 77
PUBLIC ASSISTANCE FUND
COMPARATIVE BALANCE SHEET – REGULATORY BASIS
AS OF DECEMBER 31, 2018
2018
Assets
Liabilities and Reserves
Page 13 of 77
SCHEDULE OF TRUST FUND RESERVES
Purpose
Amount Dec. 31, 2017 Per
Audit Report
Receipts
Disbursements
Balance as of
Dec. 31, 2018
Escrow Funds
$18,650.55
$
$
$18,650.55
Fire Department Donations
$100.00
$
$
$100.00
Historical Commission Donations
$315.00
$
$
$315.00
POAA
$11.00
$
$
$11.00
Public Defender Millstone Township
$157.00
$
$
$157.00
Recreation Donations
$350.00
$
$
$350.00
Tax Sale Premiums
$14,500.00
$14,600.00
$16,100.00
$13,000.00
Woodland Trail Memorial Fund
$714.29
$500.00
$
$1,214.29
Totals
$34,797.84
$15,100.00
$16,100.00
$33,797.84
Page 14 of 77
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 77
CASH RECONCILIATION DECEMBER 31, 2018
Cash
On Hand
On Deposit
Less Checks
Outstanding
Cash Book Balance
Capital - General
0.00
134,829.75
0.00
134,829.75
Current
22,855.95
1,400,484.13
14,692.41
1,408,647.67
Federal and State Grant Fund
Municipal Open Space Trust Fund
Public Assistance #1**
Public Assistance #2**
Trust - Assessment
Trust - Dog License
0.00
1,325.80
340.00
985.80
Trust - Other
0.00
38,457.49
2,587.63
35,869.86
Water & Sewer Utility Assessment
Trust
Water & Sewer Utility Capital
0.00
5,946.10
0.00
5,946.10
Water & Sewer Utility Operating
12,239.95
65,043.29
8,488.08
68,795.16
Total
35,095.90
1,646,086.56
26,108.12
1,655,074.34
* - 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:
George Lang
Title:
Chief Financial Officer
Page 16 of 77
CASH RECONCILIATION DECEMBER 31, 2018 (CONT'D)
LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"
Bank
Amount
Animal Conrol - 1st Constitution
1,325.80
Current Fund - 1st Constitution
1,283,866.09
Disbursement Account - 1st Constitution
116,618.04
General Capital Fund
134,829.75
Payroll Trust - 1st Constitution
3,159.65
Trust - 1st Constitution
35,297.84
Water-Sewer Capital - 1st Constitution
5,946.10
Water-Sewer Operating - 1st Constitution
65,043.29
Total
1,646,086.56
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 77
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
4,000.00
4,000.00
0.00
Recycling Tonnage Grant
594.26
594.26
0.00
Recreational Trails Grant
2,893.19
2,893.19
Total
2,893.19
4,594.26
4,594.26
0.00
0.00
2,893.19
Page 18 of 77
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
Clean Communities Grant
17,291.00
4,000.00
11,262.40
10,028.60
Fund for Roosevelt - Environmental
Inventory
336.50
336.50
JIF Safety Grant
250.00
250.00
Municipal Court Alcohol Education
Rehab Program
266.81
266.81
Recreational Trails Grant
2,087.37
1,047.99
1,039.38
Recyling Tonnage Grant
9,349.46
594.26
9,943.72
Sustainable Jersey Small Grant -
2014
2.68
2.68
Sustainable Jersey Small Grant -
2016
8.21
8.21
Total
29,592.03
0.00
4,594.26
12,310.39
0.00
0.00
21,875.90
Page 19 of 77
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
Recycling Tonnage Grant
594.26
594.26
0.00
Total
594.26
0.00
594.26
0.00
0.00
0.00
0.00
Page 20 of 77
LOCAL DISTRICT SCHOOL TAX
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
xxxxxxxxxx
301,005.50
School Tax Deferred
(Not in excess of 50% of Levy - 2017 -2018)
xxxxxxxxxx
491,850.50
Prepaid Beginning Balance
xxxxxxxxxx
Levy School Year July 1, 2018- June 30, 2019
xxxxxxxxxx
1,581,719.00
Levy Calendar Year 2018
xxxxxxxxxx
Paid
1,584,060.00
xxxxxxxxxx
Balance December 31, 2018
xxxxxxxxxx
xxxxxxxxxx
School Tax Payable #
298,664.50
xxxxxxxxxx
School Tax Deferred
(Not in excess of 50% of Levy -2018 -2019)
491,850.50
xxxxxxxxxx
Prepaid Ending Balance
xxxxxxxxxx
2,374,575.00
2,374,575.00
Amount Deferred 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 77
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 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 during year
# Must include unpaid requisitions
Page 22 of 77
COUNTY TAXES PAYABLE
Debit
Credit
Balance January 1, 2018
xxxxxxxxxx
xxxxxxxxxx
County Taxes
xxxxxxxxxx
0.00
Due County for Added and Omitted Taxes
xxxxxxxxxx
39.53
2018 Levy
xxxxxxxxxx
xxxxxxxxxx
General County
xxxxxxxxxx
216,679.31
County Library
xxxxxxxxxx
15,357.53
County Health
xxxxxxxxxx
4,299.32
County Open Space Preservation
xxxxxxxxxx
24,024.86
Due County for Added and Omitted Taxes
xxxxxxxxxx
518.37
Paid
260,400.55
xxxxxxxxxx
Balance December 31, 2018
xxxxxxxxxx
xxxxxxxxxx
County Taxes
0.00
xxxxxxxxxx
Due County for Added and Omitted Taxes
518.37
xxxxxxxxxx
260,918.92
260,918.92
Paid for Regular County Levies
260,361.02
Paid for Added and Omitted Taxes
39.53
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 77
STATEMENT OF GENERAL BUDGET REVENUES 2018
Source
Budget -01
Realized -02
Excess or
Deficit -03
Surplus Anticipated
323,900.00
323,900.00
0.00
Surplus Anticipated with Prior Written Consent of Director
of Local Government
Adopted Budget
93,849.00
96,439.00
2,590.00
Added by N.J.S.A. 40A:4-87
4,594.26
4,594.26
0.00
Total Miscellaneous Revenue Anticipated
98,443.26
101,033.26
2,590.00
Receipts from Delinquent Taxes
55,000.00
66,543.49
11,543.49
Amount to be Raised by Taxation:
xxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxx
(a) Local Tax for Municipal Purposes
648,086.20
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
648,086.20
792,752.02
144,665.82
1,125,429.46
1,284,228.77
158,799.31
ALLOCATION OF CURRENT TAX COLLECTIONS
Debit
Credit
Current Taxes Realized in Cash
xxxxxxxxxx
2,455,350.41
Amount to be Raised by Taxation:
xxxxxxxxxx
xxxxxxxxxx
Local District School Tax
1,581,719.00
xxxxxxxxxx
Regional School Tax
xxxxxxxxxx
Regional High School Tax
xxxxxxxxxx
County Taxes
260,361.02
xxxxxxxxxx
Due County for Added and Omitted Taxes
518.37
xxxxxxxxxx
Special District Taxes
xxxxxxxxxx
Municipal Open Space Tax
xxxxxxxxxx
Reserve for Uncollected Taxes
xxxxxxxxxx
180,000.00
Deficit in Required Collection of Current Taxes (or)
xxxxxxxxxx
Balance for Support of Municipal Budget (or)
792,752.02
xxxxxxxxxx
*Excess Non-Budget Revenue (see footnote)
xxxxxxxxxx
*Deficit Non-Budget Revenue (see footnote)
xxxxxxxxxx
2,635,350.41
2,635,350.41
* 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 77
STATEMENT OF GENERAL BUDGET REVENUES 2018
MISCELLANEOUS REVENUES ANTICIPATED: ADDED BY N.J.S.A. 40A:4-87
Source
Budget
Realized
Excess or (Deficit)
Clean Communities
4,000.00
4,000.00
0.00
Recycling Tonnage Grant
594.26
594.26
0.00
TOTAL
4,594.26
4,594.26
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:
George Lang
Page 25 of 77
STATEMENT OF GENERAL BUDGET APPROPRIATIONS 2018
2018 Budget as Adopted
1,120,835.20
2018 Budget - Added by N.J.S.A. 40A:4-87
4,594.26
Appropriated for 2018 (Budget Statement Item 9)
1,125,429.46
Appropriated for 2018 Emergency Appropriation (Budget Statement Item 9)
Total General Appropriations (Budget Statement Item 9)
1,125,429.46
Add: Overexpenditures (see footnote)
Total Appropriations and Overexpenditures
1,125,429.46
Deduct Expenditures:
Paid or Charged [Budget Statement Item (L)]
749,931.97
Paid or Charged - Reserve for Uncollected Taxes
180,000.00
Reserved
114,933.74
Total Expenditures
1,044,865.71
Unexpended Balances Cancelled (see footnote)
80,563.75
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 77
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
491,850.50
Deferred School Tax Revenue: Balance January 1, CY
491,850.50
Deficit in Anticipated Revenues: Delinquent Tax
Collections
Deficit in Anticipated Revenues: Miscellaneous
Revenues Anticipated
0.00
Deficit in Anticipated Revenues: Required Collection
of Current Taxes
0.00
Excess of Anticipated Revenues: Delinquent Tax
Collections
11,543.49
Excess of Anticipated Revenues: Miscellaneous
Revenues Anticipated
2,590.00
Excess of Anticipated Revenues: Required Collection
of Current Taxes
144,665.82
Interfund Advances Originating in CY (Debit)
Miscellaneous Revenue Not Anticipated
64,147.17
Miscellaneous Revenue Not Anticipated: Proceeds of
Sale of Foreclosed Property
Prior Years Interfunds Returned in CY (Credit)
151,703.91
Refund of Prior Year Revenue (Debit)
Sale of Municipal Assets (Credit)
Senior Citizen Deductions Disallowed - Prior Year
Taxes (Debit)
Statutory Excess in Reserve for Dog Fund
Expenditures (Credit)
Unexpended Balances of CY Budget Appropriations
80,563.75
Unexpended Balances of PY Appropriation Reserves
(Credit)
153,939.12
Surplus Balance
609,153.26
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Deficit Balance
xxxxxxxxxx
1,101,003.76
1,101,003.76
Page 27 of 77
SCHEDULE OF MISCELLANEOUS REVENUES NOT ANTICIPATED
Source
Amount Realized
Prior Year Refunds
2,762.67
Miscellaneous
10.00
2017 Water-Sewer Deficit Returned
20,231.88
Senior Citizen/Vets Adjustment
1,374.89
Cable TV Franchise Fees
12,323.32
Certificate of Occupancy Inspections
1,200.00
Copies
70.40
Homestead Rebate mailing reimbursement
91.20
Interest on Delinquent Taxes
17,101.64
Interest on Investments and Deposits
6,290.45
License Fees
70.00
Marriage License Local Fee
12.00
Municipal Court Fines and Costs
2,302.72
Planning and Zoning Fees
175.00
Return Check Fee
Sale of Surplus Property
56.00
Senior Citizen/Veterans Administrative Fee
75.00
Total Amount of Miscellaneous Revenues Not Anticipated
$64,147.17
Page 28 of 77
SURPLUS – CURRENT FUND
YEAR 2018
Debit
Credit
Balance January 1, CY (Credit)
604,366.83
Amount Appropriated in the CY Budget - Cash
323,900.00
Amount Appropriated in the CY Budget - with
Prior Written Consent of Director of Local
Government Services
Excess Resulting from CY Operations
609,153.26
Miscellaneous Revenue Not Anticipated: Payments
in Lieu of Taxes on Real Property (Credit)
Surplus Balance - To Surplus
Balance December 31, 2018
889,620.09
xxxxxxxxxx
1,213,520.09
1,213,520.09
ANALYSIS OF BALANCE DECEMBER 31, 2018
(FROM CURRENT FUND – TRIAL BALANCE)
Cash
1,408,647.67
Investments
Sub-Total
1,408,647.67
Deduct Cash Liabilities Marked with “C” on Trial Balance
519,027.58
Cash Surplus
889,620.09
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
889,620.09
Page 29 of 77
(FOR MUNICIPALITIES ONLY)
CURRENT TAXES – 2018 LEVY
1.
Amount of Levy as per Duplicate (Analysis) #
$2,490,328.53
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
$4,948.87
N.J.S.A. 54:4-63.1 et. seq.
5a.
Subtotal 2018 Levy
$2,495,277.40
5b.
Reductions due to tax appeals **
$
5c.
Total 2018 Tax Levy
$2,495,277.40
6.
Transferred to Tax Title Liens
$
7.
Transferred to Foreclosed Property
$
8.
Remitted, Abated or Canceled
$1,226.85
9.
Discount Allowed
$
10.
Collected in Cash: In 2017
$121,878.23
In 2018*
$2,298,227.82
Homestead Benefit Revenue
$31,494.36
State's Share of 2018 Senior Citizens and Veterans
Deductions Allowed
$3,750.00
Total to Line 14
$2,455,350.41
11.
Total Credits
$2,456,577.26
12.
Amount Outstanding December 31, 2018
$38,700.14
13.
Percentage of Cash Collections to Total 2018 Levy,
(Item 10 divided by Item 5c) is
98.3999
Note: Did Municipality Conduct Accelerated Tax Sale or Tax Levy
Sale?
No
14.
Calculation of Current Taxes Realized in Cash:
Total of Line 10
$2,455,350.41
Less: Reserve for Tax Appeals Pending
$
State Division of Tax Appeals
To Current Taxes Realized in Cash
$2,455,350.41
Note A: In showing the above percentage the following should be noted:
Where Item 5 shows $2,495,277.40, and Item 10 shows $2,455,350.41, the percentage represented by the
cash collections would be $2,455,350.41 / $2,495,277.40 or 98.3999. The correct percentage to be shown
as Item 13 is 98.3999%.
# 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 77
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 77
SCHEDULE OF DUE FROM/TO STATE OF NEW JERSEY
FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS
Debit
Credit
Canceled
1,374.89
1
Balance Jan 1, CY: Due From State of New
Jersey (Debit)
0.00
1
Balance Jan 1, CY: Due To State of New
Jersey (Credit)
1,374.89
2
Sr. Citizens Deductions Per Tax Billings
(Debit)
3
Veterans Deductions Per Tax Billings
(Debit)
3,750.00
4
Sr. Citizen & Veterans Deductions Allowed
by Collector (Debit)
5
Sr Citizens Deductions Allowed By Tax
Collector – Prior Years (Debit)
7
Sr. Citizen & Veterans Deductions
Disallowed by Collector (Credit)
8
Sr. Citizens Deductions Disallowed By Tax
Collector PY Taxes (Credit)
9
Received in Cash from State (Credit)
3,750.00
Balance December 31, 2018
5,124.89
5,124.89
Calculation of Amount to be included on Sheet 22, Item
10- 2018 Senior Citizens and Veterans Deductions
Allowed
Line 2
Line 3
3,750.00
Line 4
Sub-Total
3,750.00
Less: Line 7
To Item 10
3,750.00
Page 32 of 77
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
Salvatore Cannizzaro
Signature of Tax Collector
6/3/2019
License #
Date
Page 33 of 77
SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS
Debit
Credit
1.
Balance January 1, 2018
66,543.49
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A. Taxes
66,543.49
xxxxxxxxxx
xxxxxxxxxx
B. Tax Title Liens
0.00
xxxxxxxxxx
xxxxxxxxxx
2.
Cancelled
A. Taxes
xxxxxxxxxx
B. Tax Title Liens
xxxxxxxxxx
3.
Transferred to Foreclosed Tax Title Liens:
A. Taxes
xxxxxxxxxx
B. Tax Title Liens
xxxxxxxxxx
4.
Added Taxes
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
66,543.49
8.
Totals
66,543.49
66,543.49
9.
Collected:
xxxxxxxxxx
66,543.49
A. Taxes
66,543.49
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
38,700.14
xxxxxxxxxx
13.
Balance December 31, 2018
xxxxxxxxxx
38,700.14
A. Taxes
38,700.14
xxxxxxxxxx
xxxxxxxxxx
B. Tax Title Liens
0.00
xxxxxxxxxx
xxxxxxxxxx
14.
Totals
105,243.63
105,243.63
15.
Percentage of Cash Collections to
Adjusted Amount Outstanding
(Item No. 9 divided by Item
No. 7) is
100.0000
16.
Item No. 14 multiplied by percentage
shown above is
38,700.14
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 77
SCHEDULE OF FORECLOSED PROPERTY
(PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION)
Debit
Credit
Balance January 1, CY (Debit)
181,700.00
Adjustment to Assessed Valuation (Credit)
Adjustment to Assessed Valuation (Debit)
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
181,700.00
181,700.00
181,700.00
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:
$0.00
*Total Cash Collected in 2018
Realized in 2018 Budget
To Results of Operation
0.00
Page 35 of 77
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
$
$
$
Deficit from Operations
$0.00
$
$0.00
$0.00
Trust Assessment
$0.00
$
$
$
Trust Other
$0.00
$
$
$
Subtotal Current Fund
$0.00
$
$0.00
$0.00
Subtotal Trust Fund
$0.00
$
$
$
Subtotal Capital Fund
$0.00
$
$
$
Total Deferred Charges
$0.00
$
$0.00
$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 77
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.
George Lang
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 77
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.
George Lang
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 77
SCHEDULE OF BONDS ISSUED AND OUTSTANDING
AND 2019 DEBT SERVICE FOR BONDS
MUNICIPAL GENERAL CAPITAL BONDS
Debit
Credit
2019 Debt Service
Outstanding January 1, CY (Credit)
115,000.00
Cancelled (Debit)
Issued (Credit)
Paid (Debit)
10,000.00
Outstanding Dec. 31, 2018
105,000.00
xxxxxxxxxx
115,000.00
115,000.00
2019 Bond Maturities – General Capital Bonds
$10,000.00
2019 Interest on Bonds
3,150.00
ASSESSMENT SERIAL BONDS
Outstanding January 1, CY (Credit)
0.00
Issued (Credit)
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
Total
Page 39 of 77
SCHEDULE OF LOANS ISSUED AND OUTSTANDING
AND 2019 DEBT SERVICE FOR LOANS
MUNICIPAL GREEN ACRES TRUST LOAN
Debit
Credit
2019 Debt Service
Outstanding January 1, CY (Credit)
0.00
Issued (Credit)
Paid (Debit)
Outstanding Dec. 31,2018
xxxxxxxxxxx
2019 Loan Maturities
$
2019 Interest on Loans
$
Total 2019 Debt Service for Loan
$
GREEN ACRES TRUST LOAN
Outstanding January 1, CY (Credit)
0.00
Issued (Credit)
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 77
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 77
Page 42 of 77
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
Outstanding January 1, CY (Credit)
0.00
Issued (Credit)
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 77
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)
xxxxxxxxxx
xxxxxxxxxx
xxxxxxxxxx
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 77
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 77
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 77
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
18-005 Road Improvements to
Homestead Lane and Cedar Court (DOT
210,000)
520,000.00
64,646.68
145,353.20
310,000.00
15-06 Improvements to Windsor Road
0.00
9,028.66
28.66
9,000.00
17-02 Municipal Building
Improvements
12,682.00
0.00
12,682.00
228 - Reconstruct Manholes
11,842.68
0.00
11,842.68
231 - Reconstruction of Pine Dr. Storm
Sewers
8,409.82
62,250.00
8,409.82
62,250.00
234- Soil Removal
7,943.27
0.00
7,943.27
Total
40,877.77
71,278.66
520,000.00
0.00
77,328.68
0.00
173,577.63
381,250.00
Page 47 of 77
GENERAL CAPITAL FUND
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Debit
Credit
Balance January 1, CY (Credit)
66,603.15
Appropriated to Finance Improvement Authorizations (Debit)
Improvement Authorizations Canceled (financed in whole by the
Capital Improvement Fund) (Credit)
Received from CY Budget Appropriation * (Credit)
30,000.00
Balance December 31, 2018
96,603.15
xxxxxxxxxx
96,603.15
96,603.15
* 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 77
GENERAL CAPITAL FUND
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
Debit
Credit
Balance January 1, CY (Credit)
0.00
Appropriated to Finance Improvement Authorizations (Debit)
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
Road Imp Homestead Lane &
Cedar Ct
520,000.00
310,000.00
Total
520,000.00
310,000.00
0.00
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 77
GENERAL CAPITAL FUND
STATEMENT OF CAPITAL SURPLUS
YEAR – 2018
Debit
Credit
Balance January 1, CY (Credit)
1,855.97
Appropriated to CY Budget Revenue (Debit)
Appropriated to Finance Improvement Authorizations (Debit)
Funded Improvement Authorizations Canceled (Credit)
Miscellaneous - Premium on Sale of Serial Bonds (Credit)
Premium on Sale of Bonds (Credit)
Balance December 31, 2018
1,855.97
xxxxxxxxxx
1,855.97
1,855.97
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 77
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
2,495,277.40
2. Amount of Item 1 Collected in 2018 (*)
2,455,350.41
3. Seventy (70) percent of Item 1
1,746,694.18
(*) 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
$0.00
$518.37
$518.37
3. Amounts due Special
Districts
$0.00
$0.00
$
4. Amounts due School
Districts for Local School Tax
$0.00
$298,664.50
$298,664.50
Page 51 of 77
Page 52 of 77
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 2018,
please observe instructions of Sheet 2.
Page 53 of 77
Balance Sheet - Water & Sewer Utility Operating Fund Assets
AS OF DECEMBER 31, 2018
2018
Cash:
Cash
68,795.16
Sub Total Cash
68,795.16
Investments:
Accounts Receivable:
Consumer Accounts Receivable
91,437.01
Sub Total Accounts Receivable
91,437.01
Interfunds Receivable:
Due From Water-Sewer Capital Fund
70,632.30
Sub Total Interfunds Receivable
70,632.30
Deferred Charges
Total Assets
230,864.47
Page 54 of 77
Page 55 of 77
Balance Sheet - Water & Sewer Utility Operating Fund Liabilities, Reserves & Fund Balance
AS OF DECEMBER 31, 2018
2018
Liabilities:
Encumbrances Payable
61,534.63
Appropriation Reserves
27,416.63
Utility Over Payments
922.07
Accrued Interest on Bonds, Loans and Notes
10,726.93
Prepaid Water-Sewer Rents
1,118.00
Due to Current Fund
37,709.20
Total Liabilities
139,427.46
Fund Balance:
Reserve for Consumer Accounts and Lien Receivable
91,437.01
Total Utility Fund
230,864.47
Page 56 of 77
Balance Sheet - Water & Sewer Utility Capital Fund Assets
AS OF DECEMBER 31, 2018
2018
Cash:
Cash
5,946.10
Sub Total Cash
5,946.10
Accounts Receivable:
NJEIT Loan Receivable
27,225.00
Fixed Capital
5,234,793.06
Fixed Capital Authorized But not Complete
2,918,740.25
Sub Total Accounts Receivable
8,180,758.31
Total Assets
8,186,704.41
Page 57 of 77
Balance Sheet - Water & Sewer Utility Capital Fund Liabilities, Reserves & Fund Balance
AS OF DECEMBER 31, 2018
2018
Liabilities:
Reserve for Encumbrances
1,670.00
Improvement Authorizations - Funded
3,640.25
Improvement Authorizations - Unfunded
1,484,167.59
Serial Bonds Payable
1,720,000.00
Bond Anticipation Notes Payable
376,150.00
NJEIT 2010 & 2016
1,029,135.51
Farmers Home Administration Loan
55,769.28
Capital Improvement Fund
7,550.00
Due to Water - Sewer Operating Fund
70,632.30
Reserve for Amortization
3,418,116.52
Deferred Reserve for Amortization
18,950.00
Total Liabilities
8,185,781.45
Total Liabilities, Reserves & Fund Balance:
Capital Surplus
922.96
Total Liabilities, Reserves and Surplus
8,186,704.41
Page 58 of 77
Balance Sheet - Water & Sewer Utility Assessment Fund
AS OF DECEMBER 31, 2018
2018
Assets:
Liabilities and Reserves:
Liabilities, Reserves, and Fund Balance:
Page 59 of 77
Analysis of Water & Sewer 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, 2017
Assessments and
Liens
Operating Budget
Other
Disbursements
Balance Dec. 31, 2018
Assessment Serial Bond Issues:
Assessment Bond Anticipation Notes
Trust Surplus
0.00
0.00
Other Liabilities
Trust Surplus
Less Assets “Unfinanced”
Total
0.00
0.00
Page 60 of 77
Schedule of Water & Sewer Utility Budget - 2018
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
714,192.20
750,750.73
36,558.53
Miscellaneous Revenue Anticipated
Miscellaneous
Cell Tower Fees
79,000.80
84,574.66
5,573.86
Interest on Delinquent Rents
10,254.00
13,979.32
3,725.32
Added by N.J.S.A. 40A:4-87: (List)
Subtotal Additional Miscellaneous Revenues
89,254.80
98,553.98
9,299.18
Subtotal
803,447.00
849,304.71
45,857.71
Deficit (General Budget)
82,033.00
1,469.25
-80,563.75
885,480.00
850,773.96
-34,706.04
Page 61 of 77
Statement of Budget Appropriations
Appropriations
Appropriation Reserves
0.00
Budget Appropriations
885,480.00
Total Appropriations
885,480.00
Add: Overexpenditures
Total Overexpenditures
Total Appropriations & Overexpenditures
885,480.00
Deduct Expenditures
Paid or Charged
852,822.23
Reserved
27,416.63
Surplus
Total Surplus
Total Expenditure & Surplus
880,238.86
Unexpended Balance Cancelled
5,241.14
Page 62 of 77
Statement of 2018 Operation
Water & Sewer Utility
NOTE: Section 1 of this sheet is required to be filled out ONLY IF the 2018 budget year Water & Sewer 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
849,304.71
Miscellaneous Revenue Not Anticipated
533.21
2017 Appropriation Reserves Canceled
49,163.57
Total Revenue Realized
899,001.49
Expenditures
880,238.86
Expended Without Appropriation
Cash Refund of Prior Year's Revenue
Overexpenditure of Appropriation Reserves
Total Expenditures
880,238.86
Less: Deferred Charges Included in Above "Total Expenditures"
Total Expenditures - As Adjusted
880,238.86
Excess
18,762.63
Budget Appropriation – Surplus (General Budget)
Balance of "Results of 2017 Operation"
Remainder= ("Excess in Operations")
18,762.63
Deficit
Balance of "Results of 2017 Operation" Remainder= ("Operating Deficit - to Trial Balance")
-1,469.25
Page 63 of 77
Section 2:
The following Item of 2017 Appropriation Reserves Canceled in 2018 Is Due to the Current Fund TO THE EXTENT OF the amount Received and
Due from the General Budget of 2017 for an Anticipated Deficit in the Water & Sewer Utility for: 2017
2017 Appropriation Reserves Canceled in 2018
49,163.57
Less: Anticipated Deficit in 2017 Budget - Amount Received and Due from Current Fund - If
none, check "None" ☐
20,231.88
*Excess (Revenue Realized)
28,931.69
Page 64 of 77
Results of 2018 Operations – Water & Sewer Utility
Debit
Credit
Deficit in Anticipated Revenue
34,706.04
Excess in Anticipated Revenues
0.00
Miscellaneous Revenue Not Anticipated
533.21
Operating Deficit - to Trial Balance
Unexpended Balances of Appropriations
5,241.14
Unexpended Balances of PY Appropriation Reserves *
28,931.69
Operating Excess
Operating Deficit
Total Results of Current Year Operations
34,706.04
34,706.04
Operating Surplus– Water & Sewer Utility
Debit
Credit
Balance January 1, CY (Credit)
0.00
Amount Appropriated in CY Budget - Cash
Amount Appropriated in CY Budget with Prior Written Consent of Director of Local
Government Services (Debit)
Excess in Results of CY Operations
0.00
Balance December 31, 2018
0.00
Total Operating Surplus
0.00
0.00
Page 65 of 77
Analysis of Balance December 31, 2018
(From Utility – Trial Balance)
Cash
68,795.16
Investments
Interfund Accounts Receivable
70,632.30
Subtotal
139,427.46
Deduct Cash Liabilities Marked with "C" on Trial Balance
139,427.46
Operating Surplus Cash or (Deficit in Operating Surplus Cash)
0.00
Other Assets Pledged to Operating Surplus*
Deferred Charges #
Operating Deficit #
0.00
Total Other Assets
0.00
0.00
Page 66 of 77
Schedule of Water & Sewer Utility Accounts Receivable
Balance December 31, 2017
105,516.48
Increased by:
Rents Levied
736,671.26
Decreased by:
Collections
749,370.23
Overpayments applied
1,380.50
Transfer to Utility Lien
Other
750,750.73
Balance December 31, 2018
91,437.01
Schedule of Water & Sewer Utility Liens
Balance December 31, 2017
0.00
Increased by:
Transfers from Accounts Receivable
Penalties and Costs
Other
Decreased by:
Collections
Other
Balance December 31, 2018
0.00
Page 67 of 77
Deferred Charges
- Mandatory Charges Only -
Water & Sewer Utility Fund
(Do not include the emergency authorizations pursuant to N.J.S.A. 40A:4-55)
Caused by
Amount Dec. 31, 2017 per
Audit Report
Amount in 2018 Budget
Amount Resulting from 2018
Balance as at Dec. 31, 2018
Total Operating
0.00
Total Capital
0.00
*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 2019
Page 68 of 77
Schedule of Bonds Issued and Outstanding
and 2019 Debt Service for Bonds
Water & Sewer UTILITY ASSESSMENT BONDS
Debit
Credit
2019 Debt Service
Issued (Credit)
Outstanding January 1, CY (Credit)
0.00
Paid (Debit)
Outstanding December 31, 2018
2019 Bond Maturities – Assessment Bonds
2019 Interest on Bonds
Water & Sewer Utility Capital Bonds
Debit
Credit
2019 Debt Service
Issued (Credit)
Outstanding January 1, CY (Credit)
1,830,000.00
Paid (Debit)
110,000.00
Outstanding December 31, 2018
1,720,000.00
1,830,000.00
1,830,000.00
2019 Bond Maturities – Assessment Bonds
110,000.00
2019 Interest on Bonds
66,200.00
Interest on Bonds – Water & Sewer Utility Budget
2019 Interest on Bonds (*Items)
66,200.00
Less: Interest Accrued to 12/31/2018 (Trial Balance)
5,516.67
Subtotal
60,683.33
Add: Interest to be Accrued as of 12/31/2019
5,095.84
Required Appropriation 2019
65,779.17
Page 69 of 77
List of Bonds Issued During 2018
Purpose
2019 Maturity
Amount Issued
Date of Issue
Interest Rate
Page 70 of 77
Schedule of Loans Issued and Outstanding
and 2019 Debt Service for Loans
Water & Sewer UTILITY LOAN
Loan
Outstanding
January 1, 2018
Issued
Paid
Other
Description
Other Debit
Other Credit
Outstanding
December 31,
2018
Loan Maturities
Interest on Loans
Farmers Home Administration
Loan
70,485.93
14,716.65
55,769.28
NJEIT 2010 & 2016
1,090,470.47
61,334.96
1,029,135.51
66,334.96
Interest on Loans – Water & Sewer Utility Budget
2019Interest on Loans (*Items)
13,102.50
Less: Interest Accrued to 12/31/2018 (Trial Balance)
5,174.05
Subtotal
7,928.45
Add: Interest to be Accrued as of 12/31/2019
4,692.38
Required Appropriation 2019
12,620.83
List of Loans Issued During 2018
Purpose
2019Maturity
Amount Issued
Date of Issue
Interest Rate
Page 71 of 77
Debt Service Schedule for Utility Notes (Other than Utility Assessment Notes)
2019 Budget Requirement
Title or Purpose of the 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
Date Interest
Computed to
Acq. and Installation of Automatic Bar
Screen and Inlet Weir
23,750.00
12/29/2017
23,750.00
12/27/201
9
2.50
593.75
12/27/2019
Improvements to Lake Drive Pump
Station
30,400.00
12/29/2017
30,400.00
12/27/201
9
2.50
760.00
12/27/2019
Rehabilitation of Elevated Water Tower
200,000.00
12/29/2017
200,000.00
12/27/201
9
2.50
5,000.00
12/27/2019
Various Water-Sewer Improvements
122,000.00
12/29/2017
122,000.00
12/27/201
9
2.50
3,050.00
12/27/2019
376,150.00
376,150.00
0.00
9,403.75
INTERST ON NOTES – Water & Sewer UTILITY BUDGET
2019 Interest on Notes
9,403.75
Less: Interest Accrued to 12/31/2018 (Trial Balance)
36.21
Subtotal
9,367.54
Add: Interest to be Accrued as of 12/31/2019
287.34
Important: If there is more than one utility in the municipality, identify each note.
All notes with an original date of issue of 2016 or prior require one legal payable installment to
be budgeted if it is contemplated that such notes will be renewed in 2019 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 - 2019
9,654.88
Page 72 of 77
Debt Service Schedule for Utility 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)
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, 2016 or prior require one legally payable installment to be budgeted in the 2019 Dedicated Utility Assessment Budget if it is contemplated that
such notes will be renewed in 2019 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 73 of 77
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 74 of 77
Schedule of Improvement Authorizations (Utility 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
and Encumbrances
Expended
Authorizations
Canceled
Funded
Unfunded
18-006 Replacement of Water
Mains
715,000.00
570.00
714,430.00
16-03 Rehabilitation of Elevated
Water Tower
0.00
32,660.25
624.00
32,036.25
16-18 Various Water-Sewer
Improvements
0.00
28,838.80
19,140.55
9,698.25
257/261 Various Capital
Improvements
0.00
719,234.38
719,234.38
265 Improvements to Lake Drive
Pump Station
0.00
4,218.00
95.00
4,123.00
Acq. and instrallation Automatic
Bar Screen & Inlet Weir
replacement
0.00
4,645.71
4,645.71
Maple Court/N. Rochdale
Improvements
3,640.25
0.00
3,640.25
Total
3,640.25
789,597.14
715,000.00
0.00
20,429.55
0.00
3,640.25
1,484,167.59
Page 75 of 77
Water & Sewer Utility Capital Surplus
SCHEDULE OF CAPITAL IMPROVEMENT FUND
Debit
Credit
Appropriated to Finance Improvement Authorizations (Debit)
Balance January 1, CY (Credit)
7,550.00
Improvement Authorizations Canceled (financed in whole by the Capital Improvement
Fund) (Credit)
Received from CY Budget Appropriation * (Credit)
Balance December 31, 2018
7,550.00
7,550.00
7,550.00
Water & Sewer Utility Capital Surplus
SCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS
Debit
Credit
Appropriated to Finance Improvement Authorizations (Debit)
Balance January 1, CY (Credit)
0.00
Received from CY Budget Appropriation (Credit)
Received from CY Emergency Appropriation * (Credit)
Balance December 31, 2018
*The full amount of the 2018 appropriation should be transferred to this account unless the balance of the appropriation is permitted to lapse.
Page 76 of 77
Utility Fund
CAPITAL IMPROVEMENTS AUTHORIZED IN 2018
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
2018 or Prior Years
Water & Sewer Utility 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)
922.96
Funded Improvement Authorizations Canceled (Credit)
Miscellaneous (Credit)
Premium on Sale of Bonds (Credit)
Balance December 31, 2018
922.96
922.96
922.96
Page 77 of 77
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