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2024-Audit

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Executive Summary

This document is a comprehensive audit report for the Borough of Tuckerton, New Jersey, covering the financial statements and supplementary schedules for the year ended December 31, 2024. The report includes independent auditor opinions, financial statements for various funds (Current Fund, Trust Fund, General Capital Fund, Water-Sewer Utility Fund), and supplementary schedules detailing cash, receivables, payables, reserves, and other financial data. The audit was conducted in accordance with generally accepted auditing standards and government auditing standards.

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--- Document: 2024-Audit Document ---
Report of Audit
on the
Financial Statements
and Supplementary Schedules
of the
Borough of Tuckerton
in the
County of Ocean
New Jersey
for the
Year Ended
December 31, 2024
BOROUGH OF TUCKERTON
INDEX
PART I
PAGES
Independent Auditor's Report
1-4
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
5-6
EXHIBITS
Financial Statements - Regulatory Basis
Current Fund:
Balance Sheets - Regulatory Basis
"A"
Statement of Operations and Changes in Fund Balance - Regulatory Basis
"A-1"
Statement of Revenues - Regulatory Basis for the Year Ended December 31, 2024
Statement of Expenditures - Regulatory Basis for the Year Ended December 31, 2024 "A-3"
"A-2"
Trust Fund:
Balance Sheets - Regulatory Basis
Statement of Surplus - Assessment Trust Fund - Regulatory Basis
"B"
"B-1"
General Capital Fund:
Balance Sheets - Regulatory Basis
Statement of Capital Fund Balance - Regulatory Basis
"C"
"C-1"
Water-Sewer Utility Fund:
Balance Sheets - Regulatory Basis
"D"
Statement of Operations and Changes in Operating Fund Balance - Regulatory Basis
Statement of Utility Capital Fund Balance - Regulatory Basis for the Year Ended
"D-1"
December 31, 2024
"D-2"
Statement of Revenues - Regulatory Basis for the Year Ended December 31, 2024
Statement of Expenditures - Regulatory Basis for the Year Ended December 31, 2024 "D-4"
"D-3"
General Fixed Assets Account Group:
Balance Sheets - Regulatory Basis
Notes to Financial Statements
"E"
PAGES
7-44
BOROUGH OF TUCKERTON
INDEX (CONTINUED)
EXHIBITS
Supplementary Schedules - All Funds
Current Fund:
Schedule of Cash - Treasurer
"A-4"
Schedule of Cash - Tax Collector
"A-5"
Schedule of Change Funds
"A-6"
Schedule of Taxes Receivable and Analysis of Property Tax Levy
"A-7"
Schedule of Tax Title Liens Receivable
"A-8"
Schedule of 6% Year End Penalty Receivable
"A-9"
Schedule of Property Acquired for Taxes (at Assessed Valuation)
"A-10"
Schedule of Revenue Accounts Receivable
"A-11"
Schedule of Deferred Charges
"A-12"
Schedule of Due From/To State of New Jersey
"A-13"
Schedule of Tax Overpayments
"A-14"
Schedule of Prepaid Taxes
"A-15"
Schedule of Property Maintenance Liens
"A-16"
Schedule of County Taxes Payable
"A-17"
Schedule of Local District School Tax Payable
"A-18"
Schedule of Regional School District Taxes Payable
Schedule of Appropriation Reserves
"A-19"
"A-20"
Schedule of Reserve for Encumbrances
Schedule of Interfunds
"A-21"
"A-22"
Schedule of Emergency Note Payable
"A-23"
Schedule of Accounts Payable
"A-24"
Schedule of Deferred Revenue - Municipal Relief Fund Aid
"A-25"
Schedule of Interfunds - Federal and State Grant Fund
"A-26"
Schedule of Grants Receivable - Federal and State Grant Fund
"A-27"
Schedule of Grants - Appropriated - Federal and State Grant Fund
"A-28"
Schedule of Grants - Unappropriated - Federal and State Grant Fund
"A-29"
Trust Fund:
Schedule of Cash
"B-2"
Schedule of Assessment Receivable
"B-3"
Schedule of Prospective Assessments Funded
"B-4"
Schedule of Current Fund
"B-5"
Schedule of Assessment Serial Bonds Payable
"B-6"
Schedule of Reserve for Assessments and Liens
"B-7"
Schedule of Reserve for Animal Control Trust Fund Expenditures
"B-8"
Schedule of Due State of New Jersey
"B-9"
Schedule of Reserve for Encumbrances
"B-10"
Schedule of Miscellaneous Reserves
"B-11"
BOROUGH OF TUCKERTON
INDEX (CONTINUED)
EXHIBITS
General Capital Fund:
Schedule of Cash
"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 Interfunds
"C-6"
Schedule of Improvement Authorizations
"C-7"
Schedule of Reserve for Encumbrances
"C-8"
Schedule of Serial Bonds Payable
"C-9"
Schedule of Bond Anticipation Notes Payable
"C-10"
Schedule of Capital Improvement Fund
"C-11"
Water-Sewer Utility Fund:
Schedule of Cash
"D-5"
Schedule of Change Funds
"D-6"
Analysis of Cash - Capital Fund
"D-7"
Schedule of Water Rents Receivable
"D-8"
Schedule of Sewer Rents Receivable
"D-9"
Schedule of Water - Sewer Utility Liens Receivable
"D-10"
Schedule of Accounts Payable
"D-11"
Schedule of Accrued Interest on Bonds, Notes and Loans
"D-12"
Schedule of Interfunds
"D-13"
Schedule of Appropriation Reserves
"D-14"
Schedule of Reserve for Encumbrances
"D-15"
Schedule of Fixed Capital - Capital Fund
"D-16"
Schedule of Fixed Capital Authorized and Uncompleted - Capital Fund
"D-17"
Schedule of Interfunds - Capital Fund
"D-18"
Schedule of Serial Bonds Payable - Capital Fund
"D-19"
Schedule of New Jersey Environmental Infrastructure Trust/Fund Loans Payable
Capital Fund
"D-20"
Schedule of Improvement Authorizations - Capital Fund
"D-21"
Schedule of Capital Improvement Fund - Capital Fund
"D-22"
Schedule of Reserve for Improvements to Water System - Capital Fund
"D-23"
Schedule of Reserve for Amortization - Capital Fund
"D-24"
Schedule of Deferred Reserve for Amortization - Capital Fund
"D-25"
Schedule of NJEIT Interim Construction Note - Capital Fund
"D-26"
Schedule of Bonds and Notes Authorized But Not Issued - Capital Fund
"D-27"
PAGES
PART II
Statistical Data
Officials in Office and Surety Bonds
Comments and Recommendations
45-49
50
51-56
BOROUGH OF TUCKERTON
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, 2024
SUPLEE, CLOONEY & COMPANY LLC
CERTIFIED PUBLIC ACCOUNTANTS
308 East Broad Street, Westfield, New Jersey 07090-2122
Telephone 908-789-9300
Fax 908-789-8535
E-mail info@scco.com
INDEPENDENT AUDITOR'S REPORT
The Honorable Mayor and Members
of the Borough Council
Borough of Tuckerton
County of Ocean
Tuckerton, New Jersey 08087
Report on the Audit of the Financial Statements
Adverse and Unmodified Opinions
We have audited the accompanying balance sheets regulatory basis of the various
individual funds and account groups of the Borough of Tuckerton (the "Borough"), as of and for
the years ended December 31, 2024 and 2023, the related statements 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, 2024, and the related notes to the financial statements, which
collectively comprise the Borough's regulatory financial statements as listed in the table of
contents.
Adverse Opinion on U.S. Generally Accepted Accounting Principles
In our opinion, because of the significance of the matter discussed in the "Matter Giving
Rise to Adverse Opinion" 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 groups of the Borough
as of December 31, 2024 and 2023, or the results of its operations and changes in fund balance
for the years then ended or the revenues or expenditures for the year ended December 31, 2024.
Unmodified Opinion on Regulatory Basis of Accounting
In our opinion, the regulatory basis financial statements referred to above present fairly,
in all material respects, the financial position of the various individual funds and account groups
of the Borough as of December 31, 2024 and 2023, the results of its operations and changes in
fund balance for the years then ended and the revenues and expenditures for the year ended
December 31, 2024 in accordance with the basis of financial reporting prescribed by the Division
of Local Government Services, Department of Community Affairs, State of New Jersey (the
"Division") as described in Note 1.
1
SUPLEE, CLOONEY & COMPANY LLC
Basis for Adverse and Unmodified Opinions
We conducted our audit in accordance with auditing standards generally accepted in the
United States of America, the audit requirements prescribed by the Division, and the standards
applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Our responsibilities under those standards are further
described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our
report. We are required to be independent of the Borough and to meet our other ethical
responsibilities, in accordance with the relevant ethical requirements relating to our audit. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our adverse and unmodified audit opinions.
Matter Giving Rise to Adverse Opinion
As described in Note 1 of the regulatory financial statements, the regulatory financial
statements are prepared by the Borough on the basis of the financial reporting provisions
prescribed by the Division, 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.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the regulatory
financial statements in accordance with the regulatory basis of accounting prescribed by the
Division, and for the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of regulatory financial statements that are free from material
misstatement, whether due to fraud or error. In preparing the regulatory financial statements,
management is required to evaluate whether there are conditions or events, considered in the
aggregate, that raise substantial doubt about the Borough's ability to continue as a going concern
for twelve months beyond the financial statement date, including any currently known information
that may raise substantial doubt shortly thereafter.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the regulatory financial
statements as a whole are free from material misstatement, whether due to fraud or error, and to
issue an auditor's report that includes our opinions. Reasonable assurance is a high level of
assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted
in accordance with GAAS, Government Auditing Standards and audit requirements prescribed by
the Division will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud
may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control. Misstatements are considered material if there is a substantial likelihood that,
individually or in the aggregate, they would influence the judgment made by a reasonable user
based on the financial statements.
2
SUPLEE, CLOONEY & COMPANY LLC
In performing an audit in accordance with GAAS, Government Auditing Standards and
audit requirements prescribed by the Division, we:
• exercise professional judgment and maintain professional skepticism throughout the audit.
• identify and assess the risks of material misstatement of the financial statements, whether due
to fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• obtain an understanding of internal control relevant to the audit 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's internal control. Accordingly, no such opinion is
expressed.
• evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the Borough's ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among
other matters, the planned scope and timing of the audit, significant audit findings, and certain
internal control-related matters that we identified during the audit.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements
that collectively comprise the Borough's regulatory financial statements. The supplementary
information, and data listed in the table of contents as required by the Division are presented for
purposes of additional analysis and are not a required part of the basic financial statements.
Such information is the responsibility of management and was derived from and relates
directly to the underlying accounting and other records used to prepare the basic financial
statements. The information has been subjected to the auditing procedures applied in the audit
of the basic financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to
prepare the basic financial statements or to the basic 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, as required by the Division are fairly stated, in all material respects, in relation to the
regulatory financial statements as a whole.
3
SUPLEE, CLOONEY & COMPANY LLC
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
July 31, 2025, on our consideration of the Borough'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 solely 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 the effectiveness of the Borough's 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 Borough's internal control over financial
reporting and compliance.
July 31, 2025
CERTIFIED PUBLIC ACCOUNTANTS
Pals wh
REGISTERED MUNICIPAL ACCOUNTANT NO. 439
4
SUPLEE, CLOONEY & COMPANY LLC
CERTIFIED PUBLIC ACCOUNTANTS
308 East Broad Street, Westfield, New Jersey 07090-2122
Telephone 908-789-9300
Fax 908-789-8535
E-mail info@scco.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 Tuckerton
County of Ocean
Tuckerton, New Jersey 08087
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 groups of
the Borough of Tuckerton, as of and for the year ended December 31, 2024, and the related notes to
the financial statements, which collectively comprise the Borough's regulatory financial statements,
and have issued our report thereon dated July 31, 2025. Our report disclosed that, as described in
Note 1 to the financial statements, the Borough of Tuckerton 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.
5
SUPLEE, CLOONEY & COMPANY LLC
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 Tuckerton'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. We noted other matters in
the internal control which are discussed in Part II, 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. We noted
other matters in the compliance 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 Tuckerton'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
Tuckerton's internal control and compliance. Accordingly, this communication is not suitable for any
other purpose.
July 31, 2025
CERTIFIED PUBLIC ACCOUNTANTS
Roht Wh
REGISTERED MUNICIPAL ACCOUNTANT NO. 439
6
THIS PAGE INTENTIONALLY LEFT BLANK
CURRENT FUND
BOROUGH OF TUCKERTON
CURRENT FUND
BALANCE SHEETS - REGULATORY BASIS
BALANCE
DECEMBER
REF.
31, 2024
"A"
SHEET #1
BALANCE
DECEMBER
31, 2023
ASSETS
Current Fund:
Cash and Cash Equivalents
Change Fund
A-4
A-6
$
1,539,485.88
825.00
225.00
$
828,795.36
225.00
1,539,710.88
829,020.36
Receivables with Full Reserves:
Taxes Receivable
A-7
190,411.01
216,971.19
Tax Title Liens Receivable
A-8
344,126.31
323,534.38
6% Year-End Penalty Receivable
A-9
4,549.68
4,653.27
Property Acquired for Taxes at Assessed
Valuation
A-10
331,450.00
331,450.00
Revenue Accounts Receivable
A-11
2,288.94
1,921.21
Property Maintenance Liens
A-16
2,603.23
143.80
Interfunds Receivable
A-22
132,162.34
141,042.17
Due from Magistrate
42.00
1,007,591.51
1,019,758.02
Deferred Charges:
Operating Deficit
A-12
5,218.13
Overexpenditure of Appropriations
A-12
90,760.41
Expenditures without Appropriation
A-12
57,526.14
Overexpenditure of Appropriation Reserves
A-12
3,828.78
Emergency Authorizations
A-12
24,500.00
28,328.78
153,504.68
2,575,631.17
2,002,283.06
Federal and State Grant Fund:
Cash
Interfunds Receivable
Grants Receivable
A-4
234,515.97
3,406.81
A-26
30,000.00
A-27
466,979.30
1,250,175.90
701,495.27
1,283,582.71
$ 3,277,126.44 $ 3,285,865.77
The accompanying Notes to Financial Statements are an integral part of this statement.
BOROUGH OF TUCKERTON
CURRENT FUND
BALANCE SHEETS - REGULATORY BASIS
Current Fund:
"A"
SHEET #2
BALANCE
DECEMBER
31, 2024
REF.
LIABILITIES, RESERVES AND FUND BALANCE
Appropriation Reserves
Due to State of New Jersey (Ch. 20, P.L. 1971)
Due to State of New Jersey Other
Tax Overpayments
Prepaid Taxes
BALANCE
DECEMBER
31, 2023
A-3:A-20
$
219,885.81 $
84,461.87
A-13
7,310.40
5,611.77
A-13
11,283.00
8,113.00
A-14
11,519.70
52,528.61
A-15
204,619,64
188,563.47
Due County - Added and Omitted Taxes
A-17
17,011.74
12,059.31
Local District School Tax Payable
A-18
363,510.48
58,838.96
Accounts Payable
A-24
994.73
994.73
Reserve for:
Purchase of Police Vehicle
A-4
36,166,50
Repairs to DPW Truck
A-4
13,590.67
Sale of Municipal Assets
A-4
31,160.00
Encumbrances
A-21
2,207.39
11,484.81
Interfunds Payable
A-22
112,766.24
40,132.17
Deferred Revenue - Municipal Relief Fund Aid
A-25
33,858.82
1,032,026.30
496,647.52
Emergency Note Payable
A-23
24,500.00
Reserve for Receivables
1,007,591.51
1,019,758.02
Fund Balance
A-1
511,513.36
485,877.52
2,575,631.17
2,002,283.06
Federal and State Grant Fund:
Reserve for Encumbrances
A-21
1,002.29
10,171.90
Interfunds Payable
A-26
360,864.24
146,042.17
Grants - Appropriated
A-28
338,256.16
1,126,036.79
Grants - Unappropriated
A-29
1,372,58
1,331.85
701,495.27
1,283,582.71
$ 3,277,126.44 $ 3,285,865.77
The accompanying Notes to Financial Statements are an integral part of this statement.
BOROUGH OF TUCKERTON
CURRENT FUND
STATEMENT OF OPERATIONS
AND CHANGES IN FUND BALANCE - REGULATORY BASIS
REVENUE AND OTHER INCOME
Fund Balance Utilized
Miscellaneous Revenue Anticipated
Receipts from Delinquent Taxes
Receipts from Current Taxes
Non-Budget Revenues
Other Credits to Income:
Interfunds Returned (Net)
Unexpended Balance of Appropriation Reserves
Cancelled Grant Appropriated Reserves
TOTAL INCOME
"A-1"
SHEET #1
YEAR ENDED
YEAR ENDED
REF.
2024
2023
A-2
$
330,000.00 $
18,830.55
A-2
945,350.24
1,416,170.83
A-2
204,658.46
341,221.19
A-2
13,597,307.02
12,215,294.15
A-2
75,333.52
23,430.00
A-22
8,879.83
159,823.73
A-20
50,753.73
16,280.15
A-28
67,565.69
15,279,848.49
14,191,050.60
EXPENDITURES
Budget Appropriations:
Salaries and Wages
Other Expenses
Municipal Debt Service
Deferred Charges and Statutory Expenditures
Refund of Prior Year Revenue
County Taxes Payable
Added and Omitted County Taxes Payable
2,309,125.00
2,146,256.00
1,726,012.45
2,079,267.92
328,145.92
329,212.89
886,281.19
677,810.99
A-3
5,249,564.56
5,232,547.80
A-4
25,222.40
1,202.16
A-7:A-17
2,218,717.03
2,035,244.60
A-7:A-17
17,011.74
12,059.31
Local District School Tax Payable
A-7:A-18
3,992,465.02
3,382,522.00
Regional School District Taxes Payable
A-7:A-19
3,356,529.00
3,070,516.00
Cancelled Grant Receivables
A-26
87,702.90
79,600.61
Senior Citizen Deductions Disallowed
Prior Year Taxes
A-7
1,500.00
3,250.00
TOTAL EXPENDITURES
$ 14,948,712.65
$ 13,816,942.48
The accompanying Notes to Financial Statements are an integral part of this statement.
BOROUGH OF TUCKERTON
CURRENT FUND
STATEMENT OF OPERATIONS
AND CHANGES IN FUND BALANCE - REGULATORY BASIS
EXPENDITURES (CONTINUED)
Excess in Revenue/(Deficit) in Operations
Adjustments to Income Before Fund Balance:
Expenditures Included Above Which are by Statute
Deferred Charges to Budget of Succeeding Year
Statutory Excess to Fund Balance
Fund Balance
Balance, January 1
Decreased by:
Utilized as Anticipated Revenue
Fund Balance, December 31
REF.
A-3
A
"A-1"
SHEET #2
YEAR ENDED
YEAR ENDED
2024
2023
$ 331,135.84 $
374,108.12
24,500.00
355,635.84
90,760.41
464,868.53
485,877.52
39,839.54
841,513.36
504,708.07
A-1
330,000.00
18,830.55
A
$ 511,513.36 $
485,877.52
The accompanying Notes to Financial Statements are an integral part of this statement.
"A-2"
SHEET #1
BOROUGH OF TUCKERTON
CURRENT FUND
STATEMENT OF REVENUES - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2024
ANTICIPATED
SPECIAL N.J.S.A.
REF.
BUDGET
40A:4-87
Fund Balance Anticipated
A-1
$ 330,000.00 $
REALIZED
EXCESS OR
(DEFICIT)
$
330,000.00
$
Miscellaneous Revenues:
Licenses:
Alcoholic Beverages
A-11
12,550.00
12,404.00
(146.00)
Fines and Costs - Municipal Court
A-11
31,700.00
39,326.43
7,626.43
Interest and Costs on Taxes
A-11
54,500.00
46,675.67
(7,824.33)
Interest on Investments and Deposits
A-11
96,400.00
122,522.92
26,122.92
Mobile Home Fees
A-11
21,100.00
21,168.00
68.00
Boat Stalls
A-11
11,000.00
10,200.00
(800.00)
Cable TV Franchise Fees
A-11
18,871.81
18,871.81
Energy Receipts Tax
A-11
328,483.00
328,482.98
(0.02)
Municipal Relief Fund Aid
A-11
33,858.82
33,858.82
Uniform Construction Code Fees
A-11
143,500.00
175,696.00
32,196.00
General Capital Fund Balance
A-11
12,670.68
12,670.68
Monopole Lease Agreement
A-11
34,800.00
32,979.76
(1,820.24)
Alcohol Education and Rehabilitation Fund
A-22AA-26
1,103.25
1,103.25
Body Armor Replacement Fund
A-22AA-26
1,331.85
1,331.85
Clean Communities Program
A-22AA-26
12,371.32
12,371.32
DCA Local Recreational Grant
A-22AA-26
68,000.00
68,000.00
Recycling Tonnage Grant
A-22AA-26
7,686.75
7,686.75
A-1
3,452.91 $ 81,474.57
$
945,350.24 $
55,422.76
The accompanying Notes to Financial Statements are an integral part of this statement.
"A-2"
SHEET #2
BOROUGH OF TUCKERTON
CURRENT FUND
STATEMENT OF REVENUES - REGULATORY BASIS
FOR THE YEAR ENDED DECEMBER 31, 2024
ANTICIPATED
SPECIAL N.J.S.A.
REF.
BUDGET

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"...apital Fund "D-26" Schedule of Bonds and Notes Authorized But Not Issued - Capital Fund "D-27" PAGES PART II Statistical Data Officials in Office and Surety Bonds Comments and Recommendations 45-49 50 51-56 BOROUGH OF TUCKERTON PART I INDEPENDENT AUDITOR'S REPORT ON AUDIT OF FINANCIAL STATEMENTS AND SUPPLEMENT..."

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First Discovered

Apr 2, 2026

Last Info Update

Apr 2, 2026

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