Annual Financial Statement

The document is an Annual Financial Statement (AFS) workbook for the Borough of Wood-Ridge, New Jersey, for the year ending December 31, 2023. It provides instructions and templates for municipalities and counties to complete their AFS, which must be submitted to the Division of Local Government Services via the FAST portal. The workbook is designed for automated calculations and includes locked spreadsheets to protect formulas. The AFS for municipalities must be filed by February 10, 2024. The document outlines the required certifications by the Chief Financial Officer and Registered Municipal Accountant. It includes detailed schedules for various funds, such as the Current Fund, Trust Funds, and General Capital Fund. Key inputs include financial data for the municipality, such as population, net valuation taxable, and muni code. The workbook also requires information regarding school and county taxes, budget revenues, appropriations, and debt service. The workbook contains numerous financial schedules and statements, including trial balances, cash reconciliations, schedules of reserves, and debt service schedules. It covers topics such as federal and state grants, tax collections, delinquent taxes, foreclosed property, and emergency authorizations. The overall purpose of the document is to ensure compliance with New Jersey statutes and regulations regarding financial reporting for local government entities.