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StocktonYellow Risk

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2018 Audit

BID #: N/A

ISSUED: 8/19/2019

DUE: TBD

VALUE: TBD

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Executive Summary

This is an audit report for the Borough of Stockton, Hunterdon County, New Jersey, for the year ended December 31, 2018. The audit includes an independent auditor's report on the financial statements, internal control over financial reporting, and compliance with government auditing standards. The financial statements are presented on a regulatory basis, as prescribed by the New Jersey Division of Local Government Services. The report details the financial positions of various funds, including the Current Fund, Trust Fund, General Capital Fund, Water Utility Fund, and Sewer Utility Fund.

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--- Document: 2018 Audit Document ---
Report of Audit
on the
Financial Statements
of the
Borough of Stockton
in the
County of Hunterdon
New Jersey
for the
Year Ended
December 31, 2018
PART I
BOROUGH OF STOCKTΟΝ
INDEX
Independent Auditor's Report
Independent Auditor's Report on Internal Control Over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial
Statements Performed in Accordance with Government Auditing Standards
Financial Statements - Statutory Basis
1-3
4-5
EXHIBITS
Current Fund:
Balance Sheets - Regulatory Basis
Statements of Operations and Change in Fund Balance - Regulatory Basis for the
Year Ended December 31, 2018
"A"
"A-1"
Statement of Revenues - Regulatory Basis for the Year Ended December 31, 2018
Statement of Expenditures - Regulatory Basis for the Year Ended December 31, 2018 "A-3"
"A-2"
Trust Fund:
Balance Sheets - Regulatory Basis
"B"
General Capital Fund:
Balance Sheets - Regulatory Basis
Statement of Fund Balance - Regulatory Basis
"C"
"C-1"
Water Utility Fund:
Balance Sheets - Regulatory Basis
"D"
Statements of Operations and Change in Fund Balance - Operating Fund - Regulatory
Basis for the Year Ended December 31, 2018
"D-1"
Statement of Revenues - Operating Fund - Regulatory Basis for the Year Ended
December 31, 2018
"D-2"
Statement of Expenditures - Operating Fund - Regulatory Basis for the Year Ended
December 31, 2018
"D-3"
Sewer Utility Fund:
Balance Sheets - Regulatory Basis
"E"
Statements of Operations and Change in Fund Balance - Regulatory Basis for the
Year Ended December 31, 2018
"E-1"
Statement of Fund Balance - Capital Fund - Regulatory Basis
Statement of Revenues - Operating Fund - Regulatory Basis for the Year Ended
"E-2"
December 31, 2018
"E-3"
Statement of Expenditures - Operating Fund - Regulatory Basis for the Year Ended
December 31, 2018
"E-4"
BOROUGH OF STOCKTΟΝ
INDEX (CONTINUED)
PAGES
Notes to Financial Statements
6-32
EXHIBITS
Supplementary Schedules - All Funds
Current Fund:
Schedule of Cash-Treasurer
"A-4"
Schedule of Cash-Collector
"A-5"
Schedule of Due Current Fund - Grant Fund
"A-6"
Schedule of Taxes Receivable and Analysis of Property Tax Levy
Schedule of Due State of New Jersey Per Chapter 20, P.L. 1971
"A-7"
"A-8"
Schedule of Revenue Accounts Receivable
"A-9"
Schedule of Interfunds
"A-10"
Schedule of Petty Cash Funds
"A-11"
Schedule of 2017 Appropriation Reserves
"A-12"
Schedule of County Taxes Payable
"A-13"
Schedule of Regional High School Taxes Payable
"A-14"
Schedule of Reserve for Grants-Unappropriated - Grant Fund
"A-15"
Schedule of Prepaid Taxes
"A-16"
Schedule of Tax Overpayments
"A-17"
Schedule of Reserve for State Aid Unappropriated
"A-18"
Schedule of Reserve for Grants Appropriated - Grant Fund
"A-19"
Schedule of Encumbrances Payable
"A-20"
Trust Fund:
Schedule of Cash-Treasurer
"B-1"
Schedule of Reserve for Animal Control Trust Fund Expenditures
Schedule of Due State of New Jersey - Animal Control Fund
"B-2"
"B-3"
Schedule of Various Reserves and Deposits
"B-4"
Schedule of Due Current Fund
"B-5"
General Capital Fund:
Schedule of Cash-Treasurer
"C-2"
Analysis of Cash
"C-3"
Schedule of Deferred Charges to Future Taxation - Funded
"C-4"
Schedule of Deferred Charges to Future Taxation - Unfunded
"C-5"
Schedule of Contracts Payable
"C-6"
Schedule of Improvement Authorizations
"C-7"
Schedule of Capital Improvement Fund
"C-8"
Schedule of Interfunds
"C-9"
Schedule of Grants Receivable
"C-10"
BOROUGH OF STOCKTΟΝ
INDEX (CONTINUED)
EXHIBITS
General Capital Fund (Continued):
Schedule of Green Trust Loans Payable
Schedule of Reserve for Receivables
Schedule of Bond Anticipation Notes
Schedule of Various Reserves and Deposits
Schedule of N.J. Environmental Trust Loans Payable
Schedule of Bonds and Notes Authorized But Not Issued
"C-11"
"C-12"
"C-13"
"C-14"
"C-15"
"C-16"
Water Utility Fund:
Schedule of Cash-Treasurer for the Year Ended December 31, 2018
"D-4"
Schedule of Encumbrances Payable - Operating Fund
"D-5"
Schedule of Consumer Accounts Receivable - Operating Fund
"D-6"
Schedule of Accrued Interest on Bonds, Notes and Loans - Operating Fund
"D-7"
Schedule of 2017 Appropriation Reserves - Operating Fund
"D-8"
Schedule of Interfunds - Operating Fund
"D-9"
Schedule of Improvement Authorizations - Capital Fund
"D-10"
Schedule of Reserve for Deferred Amortization - Capital Fund
"D-11"
Schedule of Capital Improvement Fund - Capital Fund
"D-12"
Schedule of Reserve for Amortization - Capital Fund
"D-13"
Schedule of Fixed Capital - Capital Fund
"D-14"
Schedule of Fixed Capital Authorized and Uncompleted - Capital Fund
"D-15"
Schedule of Interfunds - Capital Fund
"D-16"
Schedule of Bond Anticipation Notes - Capital Fund
"D-17"
Schedule of Reserve for Miscellaneous Deposits - Capital Outlay - Capital Fund
"D-18"
Schedule of Contracts Payable - Capital Fund
"D-19"
Schedule of Bonds and Notes Authorized But Not Issued - Capital Fund
"D-20"
Sewer Utility Fund:
Schedule of Cash-Treasurer for the Year Ended December 31, 2018
Schedule of Accrued Interest - Operating Fund
"E-5"
"E-6"
Schedule of Consumer Accounts Receivable - Operating Fund
"E-7"
Schedule of Interfunds - Operating Fund
"E-8"
Schedule of Encumbrances Payable - Operating Fund
"E-9"
Schedule of 2017 Appropriation Reserves - Operating Fund
"E-10"
Schedule of New Jersey Environmental Infrastructure Loan Receivable - Capital Fund "E-11"
Schedule of Capital Improvement Fund - Capital Fund
"E-12"
Schedule of Fixed Capital Authorized and Uncompleted - Capital Fund
"E-13"
Schedule of Interfunds - Capital Fund
"E-14"
Schedule of Improvement Authorizations - Capital Fund
"E-15"
Schedule of Fixed Capital - Capital Fund
"E-16"
Schedule of Reserve for Amortization - Capital Fund
"E-17"
BOROUGH OF STOCKTΟΝ
INDEX (CONTINUED)
EXHIBITS
Sewer Utility Fund (Continued):
Schedule of Reserve for Deferred Amortization - Capital Fund
Schedule of Reserve for Capital Improvements - Capital Fund
"E-18"
"E-19"
Schedule of Bonds Payable - Capital Fund
"E-20"
Schedule of Bond Anticipation Notes - Capital Fund
"E-21"
Schedule of Bonds and Notes Authorized But Not Issued - Capital Fund
"E-22"
PAGES
PART II
Statistical Data
33-38
Officials in Office and Surety Bonds
39
General Comments and Recommendations
40-43
BOROUGH OF STOCKTON
PART I
INDEPENDENT AUDITOR'S REPORT ON
AUDIT OF FINANCIAL STATEMENTS
AND SUPPLEMENTARY SCHEDULES AND DATA
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND
OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
FINANCIAL STATEMENTS - REGULATORY BASIS - ALL FUNDS
NOTES TO FINANCIAL STATEMENTS - REGULATORY BASIS
SUPPLEMENTARY SCHEDULES - ALL FUNDS
YEAR ENDED DECEMBER 31, 2018 AND 2017
SUPLEE, CLOONEY & COMPANY
CERTIFIED PUBLIC ACCOUNTANTS
308 East Broad Street, Westfield, New Jersey 07090-2122
Telephone 908-789-9300
Fax 908-789-8535
E-mail info@scnco.com
INDEPENDENT AUDITOR'S REPORT
The Honorable Mayor and Members
of the Borough Council
Borough of Stockton
County of Hunterdon
Stockton, New Jersey 08559
Report on the Financial Statements
We have audited the accompanying balance sheets - regulatory basis of the various
individual funds and account group of the Borough of Stockton, as of December 31, 2018 and
2017, the related statement of operations and changes in fund balance - regulatory basis for the
years then ended, and the related statement of revenues - regulatory basis and statement of
expenditures - regulatory basis of the various individual funds for the year ended December 31,
2018, and the related notes to the financial statements, which collectively comprise the
Borough's regulatory financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial
statements in accordance with the regulatory basis of accounting prescribed by the Division of
Local Government Services, Department of Community Affairs, State of New Jersey.
Management is also responsible for the design, implementation, and maintenance of internal
control relevant to the preparation and fair presentation of financial statements that are free from
material misstatements, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these regulatory financial statements
based on our audit. We conducted our audit in accordance with auditing standards generally
accepted in the United States of America, the audit requirements prescribed by the Division of
Local Government Services, Department of Community Affairs, State of New Jersey (the
"Division"), and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.
SUPLEE, CLOONEY & COMPANY
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the regulatory financial statements. The procedures selected depend on the
auditor's judgment, including the assessment of the risks of material misstatement of the
financial statements, whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the Borough of Stockton's preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the Borough of Stockton's internal control. Accordingly, we express no such opinion. An audit
also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as
evaluating the overall presentation of the regulatory financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinions.
Basis for Adverse Opinion on U.S Generally Accepted Accounting Principles.
As described in Note 1 of the regulatory financial statements, the regulatory financial
statements are prepared by the Borough of Stockton on the basis of the financial reporting
provisions prescribed by the Division of Local Government Services, Department of Community
Affairs, State of New Jersey, which is a basis of accounting other than accounting principles
generally accepted in the United States of America, to meet the requirements of New Jersey.
The effects on the financial statements of the variances between the regulatory basis of
accounting described in Note 1 and accounting principles generally accepted in the United
States of America, although not reasonably determinable, are presumed to be material.
Adverse Opinion on U.S. Generally Accepted Accounting Principles
In our opinion, because of the significance of the matter discussed in the "Basis for
Adverse Opinion on U.S Generally Accepted Accounting Principles" paragraph, the financial
statements referred to above do not present fairly, in accordance with accounting principles
generally accepted in the United States of America, the financial position of the various
individual funds and account group of the Borough of Stockton as of December 31, 2018 and
2017, or the results of its operations and changes in fund balance for the years then ended of
the revenues or expenditures for the year ended December 31, 2018.
Opinion on Regulatory Basis of Accounting
In our opinion, the regulatory financial statements referred to above present fairly, in all
material respects, the regulatory basis balances sheets of the various individual funds and
account group as of December 31, 2018 and 2017, 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,
2018 in accordance with the basis of financial reporting prescribed by the Division of Local
Government Services, Department of Community Affairs, State of New Jersey as described in
Note 1.
SUPLEE, CLOONEY & COMPANY
Other Matters
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements
that collectively comprise the Borough of Stockton's regulatory financial statements. The
supplementary information and data listed in the table of contents as required by the Division of
Local Government Services, Department of Community Affairs, State of New Jersey are
presented for purposes of additional analysis and are not a required part of the regulatory
financial statements.
The supplemental information and schedules listed above and also listed in the table of
contents are the responsibility of management and were derived from and relates directly to the
underlying accounting and other records used to prepare the regulatory financial statements.
Such information has been subjected to the auditing procedures applied in the audit of the
regulatory financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to
prepare the regulatory financial statements or to the regulatory financial statements themselves,
and other additional procedures in accordance with auditing standards generally accepted in the
United States of America. In our opinion, the supplemental information and data listed in the
table of contents are fairly stated, in all material respects, in relation to the regulatory financial
statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report
dated August 19, 2019 on our consideration of the Borough of Stockton's internal control over
financial reporting and on our tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements and other matters. The purpose of that report is to describe the
scope of our testing of internal control over financial reporting and compliance and the results of
that testing, and not to provide an opinion on internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the Borough of Stockton's internal control over
financial reporting and compliance.
August 19, 2019
CERTIFIED PUBLIC ACCOUNTAN
Raht Wh
REGISTERED MUNICIPAL ACCOUNTANT NO. 439
☑ SUPLEE, CLOONEY & COMPANY
C
CERTIFIED PUBLIC ACCOUNTANTS
308 East Broad Street, Westfield, New Jersey 07090-2122
Telephone 908-789-9300
Fax 908-789-8535
E-mail info@scnco.com
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER
FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
The Honorable Mayor and Members
of the Borough Council
Borough of Stockton
County of Hunterdon
Stockton, New Jersey 08559
We have audited, in accordance with the auditing standards generally accepted in the
United States of America, the audit requirements prescribed by the Division of Local
Government Services, Department of Community Affairs, State of New Jersey and the
standards applicable to financial audits contained in Government Auditing Standards issued by
the Comptroller General of the United States, the regulatory financial statements of the various
individual funds and the account group of the Borough of Stockton, as of and for the year ended
December 31, 2018, and the related notes to the financial statements, which collectively
comprise the Borough's regulatory financial statements, and have issued our report thereon
dated August 19, 2019. Our report disclosed that, as described in Note 1 to the financial
statements, the Borough of Stockton prepares its financial statements on a basis of accounting
prescribed by the Division of Local Government Services, Department of Community Affairs,
State of New Jersey, that demonstrates compliance with a modified accrual basis and the
budget laws of the State of New Jersey, which is a comprehensive basis of accounting other
than U.S. generally accepted accounting principles.
Internal Control Over Financial Reporting
In planning and performing our audit of the regulatory financial statements, we
considered the Borough's control over financial reporting (internal control) to determine the audit
procedures that are appropriate in the circumstances for the purpose of expressing our opinions
on the financial statements but not for the purpose of expressing an opinion on the effectiveness
of the Borough's internal control. Accordingly, we do not express an opinion on the
effectiveness of Borough's internal control.
SUPLEE, CLOONEY & COMPANY
A deficiency in internal control exists when the design or operation of a control does not
allow management or employees, in the normal course of performing their assigned functions,
to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a
deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable
possibility that a material misstatement of the Borough of Stockton's financial statements will not
be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material
weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control that
might be material weaknesses or significant deficiencies. Given these limitations, during our
audit we did not identify any deficiencies in internal control that we consider to be material
weaknesses. However, material weaknesses may exist that have not been identified. However,
we noted certain immaterial matters involving internal control that we have reported to the
Borough of Stockton in the General Comments and Recommendations Section of the audit
report.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Borough's financial
statements are free from material misstatement, we performed tests of its compliance with
certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with
which could have a direct and material effect on the determination of financial statement
amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our
tests disclosed no instances of noncompliance or other matters that are required to be reported
under Government Auditing Standards. However, there were immaterial instances of
noncompliance which are discussed in Part II, General Comments and Recommendations
Section of the audit report.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control
and compliance and the results of that testing, and not to provide an opinion on the
effectiveness of the Borough of Stockton's internal control or on compliance. This report is an
integral part of an audit performed in accordance with Government Auditing Standards in
considering the Borough of Stockton's internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
August 19, 2019
CERTIFIED PUBLIC ACCOUNTANTS
Paht wel
REGISTERED MUNICIPAL ACCOUNTANT NO. 439
CURRENT FUND
BOROUGH OF STOCKTON
CURRENT FUND
BALANCE SHEETS - REGULATORY BASIS
ASSETS
Cash-Treasurer
Receivables and other Assets with Full Reserves:
Delinquent Property Taxes Receivable
Revenue Accounts Receivable
Interfunds Receivable
Prepaid Regional High School Taxes
Grant Fund:
Due Current Fund
REF.
BALANCE
DECEMBER
31, 2018
"A"
SHEET #1
BALANCE
DECEMBER
31, 2017
A-4
$
689,139.07 $
458,121.52
$
689,139.07 $
458,121.52
A-7
$
14,951.02
$
29,708.84
A-9
873.87
258.44
A-10
278.11
758.59
A-14
194,457.00
A
$
16,103.00 $
225,182.87
$
705,242.07 $
683,304.39
A-6
$
37,143.74 $
33,070.51
$
37,143.74 $
33,070.51
$
742,385.81 $
716,374.90
The accompanying Notes to the Financial Statements are an integral part of this statement.
BOROUGH OF STOCKTON
CURRENT FUND
BALANCE SHEETS - REGULATORY BASIS
LIABILITIES, RESERVES AND FUND BALANCE
Liabilities:
Appropriation Reserves
Encumbrances Payable
Prepaid Taxes
Tax Overpayments
Interfunds Payable
County Taxes-Payable
Miscellaneous Reserves
Reserve for Receivables and other Assets
Fund Balance
Grant Fund:
REF.
"A"
SHEET #2
BALANCE
DECEMBER
31, 2018
BALANCE
DECEMBER
31, 2017
A-3:A-12
$
69,341.32
$
69,338.75
A-20
7,024.86
16,012.78
A-16
470.00
56,769.53
A-17
2,581.50
1,791.00
A-10
37,143.74
33,526.01
A-13
603.98
497.53
A-18
12,300.00
12,300.00
$
129,465.40 $
190,235.60
A
A-1
16,103.00
225,182.87
559,673.67
267,885.92
$
705,242.07 $
683,304.39
Reserve for Grants Appropriated
A-19
$
33,070.51 $
33,070.51
Reserve for Grants Unappropriated
A-15
4,073.23
$
37,143.74 $
33,070.51
$
742,385.81 $
716,374.90
The accompanying Notes to the Financial Statements are an integral part of this statement.
BOROUGH OF STOCKTON
CURRENT FUND
STATEMENTS OF OPERATIONS
AND CHANGE IN FUND BALANCE - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2018
REVENUE AND OTHER INCOME
Fund Balance Utilized
Miscellaneous Revenue Anticipated
Receipts from Delinquent Taxes
Receipts from Current Taxes
Non-Budget Revenue
Other Credits to Income:
Unexpended Balance of Appropriation Reserves
Tax Overpayments Canceled
Reserve for Prepaid Regional High School Tax
Interfunds Returned
REF.
YEAR 2018
"A-1"
YEAR 2017
A-1:A-2
$
A-2
165,000.00 $
187,685.58
165,000.00
148,768.61
A-2
29,696.86
12,843.00
A-2
1,902,691.75
1,895,243.59
A-2
13,067.49
15,752.40
A-12
41,753.85
35,299.47
A-17
27.93
165.77
194,457.00
480.48
Total Income
$
2,534,860.94 $
2,273,072.84
EXPENDITURES
Budget Appropriations:
Operations within "CAPS":
Operating
A-3
$
Deferred Charges and Statutory Expenditures
Operations Excluded from "CAPS":
A-3
430,550.00 $
59,741.00
416,948.00
33,903.13
Operating
A-3
7,941.00
16,157.51
Capital Improvements
A-3
20,000.00
28,000.00
Municipal Debt Service
A-3
62,530.85
57,624.15
County Taxes
A-13
338,794.36
346,365.20
County Share of Added Taxes
A-13
603.98
497.53
Regional High School Tax
A-14
1,157,837.00
1,178,294.00
Refund of Prior Year Revenue
A-4
75.00
Reserve for Prepaid Regional High School Tax
Interfunds Advanced
Total Expenditures
194,457.00
322.52
$
2,078,073.19 $
2,272,569.04
Excess in Revenue
$
456,787.75 $
503.80
Fund Balance
Balance, January 1
A
$
267,885.92
724,673.67 $
432,382.12
432,885.92
Decreased by:
Utilization as Anticipated Revenue
Fund Balance, December 31
A-1:A-2
A
$
165,000.00
165,000.00
559,673.67 $
267,885.92
The accompanying Notes to the Financial Statements are an integral part of this statement.
BOROUGH OF STOCKTON
CURRENT FUND
STATEMENT OF REVENUES - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2018
ANTICIPATED
"A-2"
SHEET #1
EXCESS
OR
(DEFICIT)
REF.
BUDGET
REALIZED
Fund Balance Anticipated
A-1
$
165,000.00 $
165,000.00 $
Miscellaneous Revenues:
Licenses:
Alcoholic Beverages
A-9
$
3,824.00 $
3,824.00 $
Other
A-2
1,500.00
1,614.00
114.00
Fees and Permits:
Other
A-9
1,000.00
2,008.00
1,008.00
Fines:
Municipal Court
A-9
5,000.00
4,282.04
(717.96)
Interest and Costs on Taxes
A-9
3,000.00
8,656.44
5,656.44
Energy Receipts Tax
A-9
45,571.00
45,571.00
Garden State Trust Fund
A-9
6,150.00
6,150.00
Cell Tower Rental
A-9
36,000.00
91,864.56
55,864.56
Hotel and Motel Tax
A-9
21,500.00
23,715.54
2,215.54
A-1
$
123,545.00 $
187,685.58 $
64,140.58
Receipts from Delinquent Taxes
A-1:A-7
10,880.00
29,696.86
18,816.86
Amount to be Raised by Taxation for Support
of Municipal Budget:
Local Tax for Municipal Purposes
A-2:A-7
417,044.75
538,456.41
121,411.66
Budget Totals
$
716,469.75 $
920,838.85 $
204,369.10
Non-Budget Revenue
A-1:A-2
13,067.49
13,067.49
$
716,469.75 $
933,906.34 $
217,436.59
REF.
A-3
The accompanying Notes to the Financial Statements are an integral part of this statement.
BOROUGH OF STOCKΤΟΝ
CURRENT FUND
STATEMENT OF REVENUES - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2018
Allocation of Current Tax Collections:
Collections Realized on a Cash Basis
Allocated to:
School and County Taxes
REF.
A-1:A-7
$
"A-2"
SHEET #2
1,902,691.75
1,497,235.34
405,456.41
Balance for Support of Municipal Budget Appropriations
Add: Appropriation-"Reserve for Uncollected Taxes"
A-3
133,000.00
Amount for Support of Municipal Budget Appropriations
A-2
$
538,456.41
Other Licenses
Analysis of Non-Budget Revenues
Miscellaneous Revenue Not Anticipated:
Treasurer:
Interest on Investments
Miscellaneous
Excess Animal Control Fees
A-9
$
1,614.00
A-2
$
1,614.00
$
4,543.67
8,245.71
A-4
$
12,789.38
A-10
278.11
A-2
$
13,067.49
The accompanying Notes to the Financial Statements are an integral part of this statement.
BOROUGH OF STOCKTON
CURRENT FUND
STATEMENT OF EXPENDITURES - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2018
"A-3"
SHEET #1
APPROPRIATIONS
BUDGET
BUDGET AFTER
PAID OR
OPERATIONS WITHIN "CAPS"
MODIFICATION
CHARGED
RESERVED
CANCELED
GENERAL GOVERNMENT
Governing Body:
Salaries and Wages
Other Expenses
$ 10,403.00 $ 10,403.00 $
1,000.00
1,000.00
9,001.60 $
678.90
1,401.40 $
321.10
Municipal Clerk:
Salaries and Wages
Other Expenses
46,000.00
3,800.00
46,000.00
4,300.00
44,700.77
4,193.32
1,299.23
106.68
Elections:
Other Expenses
500.00
500.00
412.00
88.00
Financial Administration:
Salaries and Wages
20,000.00
20,000.00
Other Expenses
1,500.00
1,500.00
19,999.96
898.51
0.04
601.49
Audit Services
18,250.00
18,250.00
18,250.00
Computer Support:
Other Expenses
8,500.00
9,600.00
9,594.19
5.81
Administration & Executive:
Salaries and Wages
6,470.00
6,470.00
6,459.84
10.16
Revenue Adminstration:
Salaries and Wages
8,500.00
8,500.00
8,400.29
99.71
Other Expenses
1,400.00
1,400.00
1,323.84
76.16
Assessment of Taxes:
Salaries and Wages
6,184.00
6,184.00
6,183.14
0.86
Other Expenses
500.00
500.00
209.34
290.66
Public Buildings & Grounds:
Other Expenses
11,000.00
11,000.00
9,139.38
1,860.62
Legal Services:
Other Expenses
7,000.00
7,000.00
5,663.31
1,336.69
Engineering Services:
Other Expenses
18,000.00
18,000.00
13,408.89
4,591.11
Planning Board:
Salaries and Wages
3,430.00
3,430.00
3,327.44
102.56
Other Expenses
1,20

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"...Fund "E-21" Schedule of Bonds and Notes Authorized But Not Issued - Capital Fund "E-22" PAGES PART II Statistical Data 33-38 Officials in Office and Surety Bonds 39 General Comments and Recommendations 40-43 BOROUGH OF STOCKTON PART I INDEPENDENT AUDITOR'S REPORT ON AUDIT OF FINANCIAL STATEMENTS AND SUPPLEMEN..."

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2018 Audit Document

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First Discovered

Apr 2, 2026

Last Info Update

Apr 2, 2026

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