2012 Audit

This document is an audit report on the financial statements of the Borough of Stockton, New Jersey, for the year ended December 31, 2012. The audit was conducted by Suplee, Clooney & Company, Certified Public Accountants, and includes an independent auditor's report, financial statements for various funds (Current, Trust, General Capital, Water Utility, and Sewer Utility), supplementary schedules, and statistical data. The report expresses an adverse opinion on the financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP) due to the Borough's use of a regulatory basis of accounting, but an opinion that regulatory basis financial statements present fairly regulatory basis balances sheets of the various individual funds as of December 31, 2012 and 2011, the regulatory basis statement of operations and changes in fund balance for the years then ended and the regulatory basis statement of revenues and expenditures and changes in fund balance for the year ended December 31, 2012 in accordance with the basis of financial reporting prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey.