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Annual Debt Statement - 2017

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ISSUED: 1/29/2018

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Executive Summary

The document is the Annual Debt Statement for Woolwich Township, New Jersey, for the budget year ending December 31, 2017. Prepared on January 29, 2018, it outlines the township's gross debt, deductions, and net debt across various categories including local school purposes, regional school purposes, utilities, and municipal/county general obligations. The statement also includes an equalized valuation basis and calculates net debt as a percentage of this basis.

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--- Document: Annual Debt Statement - 2017 Document ---
State of New Jersey
Department of Community Affairs
Annual Debt Statement
Woolwich Township - 2017
Budget Year Ending 12/31/2017
Name: William Pine
Title:
Address: 120 Village Green Drive
08085
Woolwich, NJ 08085
US
Date Prepared: 1/29/2018
(Year)
(Month D-D) 2017
Phone:
Email:
wpine@woolwichtwp.org
CFO Cert N-0835
#:
William Pine, being duly sworn, deposes and says: Deponent is the Chief Financial Officer of Woolwich Township - County
of Gloucester here and in the statement hereinafter mentioned called the local unit. This Annual Debt Statement is a true
statement of the debt condition of the local unit as of the date therein stated above and is computed as provided by the
Local Bond Law of New Jersey.
By checking this box, I am swearing that the above statement is true. (The Email function will not work until you
acknowledge the above statement as true)
Gross Debt
Deduction
Net Debt
Total Bonds and Notes for Local School
$31,433,448.73
$30,309,174.11
$1,124,274.62
Purposes
Total Bonds and Notes for Regional School
$16,108,066.06
$16,108,066.06
$0.00
Purposes
Total Bonds and Notes for all Utilities
Municipal/County General Obligations
$
$
$0.00
$31,746,889.01
$161,838.65
$31,585,050.36
Total
$79,288,403.80
$47,703,353.44
$32,709,324.98
Equalized valuation basis (the average of the equalized valuations of real estate, including improvements and the assessed
valuation of class II railroad property of the local unit for the last 3 preceding years).
Year
2015 Equalized Valuation Real Property with Improvements plus assessed valuation of
Class II RR Property
$1,163,243,659.00
2016 Equalized Valuation Real Property with Improvements plus assessed valuation of
$1,219,917,954.00
Class II RR Property
2017 Equalized Valuation Real Property with Improvements plus assessed valuation of
$1,253,939,280.00
Class II RR Property
Equalized Valuation Basis - Average of (1), (2) and
$1,212,366,964.33
(3)..........
Net Debt expressed as a percentage of such equalized valuation basis is: %
2.698%
Page 1 of 12
BONDS AND NOTES FOR LOCAL SCHOOL PURPOSES
Local School District Type (select one):
1.
Term Bonds
2.
Serial Bonds
(a) Issued
(b) Authorized but not issued
3.
Temporary Notes
(a) Issued
(b) Authorized but not issued
4.
Total Bonds and Notes
Type II
$
$31,433,448.73
$
$
$
$31,433,448.73
DEDUCTIONS APPLICABLE TO BONDS AND NOTES - FOR SCHOOL PURPOSES
Amounts held or to be held for the sole purpose of paying bonds and notes included above.
5.
Sinking funds on hand for bonds shown as Line 1 but not in
excess of such bonds.
$
6.
Funds on hand in those cases where such funds cannot be
diverted to purposes other than the payment of bonds and
notes included in Line 4.
$
7.
Estimated proceeds of bonds and notes authorized but not
issued where such proceeds will be used for the sole purpose
of paying bonds and notes included in Line 4.
$
8.
$1,212,366,964.33
2.50%
$30,309,174.11
9.
% of average of
equalized valuations
Use applicable per centum as follows:
2.50% Kindergarten or Grade 1 through Grade 6
3.00% Kindergarten or Grade 1 through Grade 8
3.50% Kindergarten or Grade 1 through Grade 9
4.00% Kindergarten or Grade 1 through Grade 12
Additional State School Building Aid Bonds (NJSA 18A:58-
33.4(d))
10. Total Potential Deduction
Total Allowable Deduction
Page 2 of 12
30,309,174.11
30,309,174.11
BONDS AND NOTES FOR REGIONAL SCHOOL PURPOSES
Swedesboro-Woolwich Cons.
Regional School District
1.
TERM BONDS
2.
SERIAL BONDS
(a) Issued
(b) Authorized but not issued
3.
TEMPORARY BONDS AND NOTES
(a) Issued
(b) Authorized but not issued
$
$
$
$
$
4. TOTAL OF REGIONAL SCHOOL BONDS AND NOTES
$0.00
NJSA 40A:2-43 reads in part as follows: " Gross debt of a municipality shall also include that amount of the total of all the
bonds and notes issued and authorized but not issued by any school district including the area of the municipality, which
results from the application to such total of the ratio which the equalized valuation basis of the municipality bears to the
sum of the equalized valuation basis of each municipality in any such school district."
COMPUTATION OF REGIONAL AND/OR CONSOLIDATED SCHOOL DISTRICT
DEBT
% OF VALUTAIONS APPORTIONED TO EACH MUNICIPALITY
APPORTIONMENT OF DEBT - Dec. 31, 2013
Municipality
Average
%
Equalized
Serial Bonds
Issued
Temp. Bond
Authorized But
Notes Issued
not Issued
Valuations
Woolwich Township
$1,212,366,964.3
87.36 $31,433,448.74
$0.00
$0.00
3 36707
5%
Swedesboro Borough
$175,357,422.67
12.63
$4,546,551.26
$0.00
$0.00
63292
5%
Totals
$1,387,724,387.0
0
100.0
0%
$35,980,000.00
$
$
Page 3 of 12
BONDS AND NOTES FOR REGIONAL SCHOOL PURPOSES
Regional School District
Kingsway Regional High School District
1.
TERM BONDS
2.
SERIAL BONDS
(a) Issued
(b) Authorized but not issued
3. TEMPORARY BONDS AND NOTES
(a) Issued
(b) Authorized but not issued
4. TOTAL OF REGIONAL SCHOOL BONDS AND NOTES
$
$16,108,066.06
$
$
$
$16,108,066.06
NJSA 40A:2-43 reads in part as follows: " Gross debt of a municipality shall also include that amount of the total of all the
bonds and notes issued and authorized but not issued by any school district including the area of the municipality, which
results from the application to such total of the ratio which the equalized valuation basis of the municipality bears to the
sum of the equalized valuation basis of each municipality in any such school district."
COMPUTATION OF REGIONAL AND/OR CONSOLIDATED SCHOOL DISTRICT
DEBT
% OF VALUTAIONS APPORTIONED TO EACH MUNICIPALITY
APPORTIONMENT OF DEBT - Dec. 31, 2013
Municipality
Average
%
Equalized
Serial Bonds
Issued
Temp. Bond
Notes Issued
Authorized But
not Issued
Valuations
East Greenwich Township
$1,136,734,811.0
38.99 $15,103,182.42
$0.00
$0.00
0 20545
9%
South Harrison Township
$390,839,375.00
13.40
$5,192,872.01
$0.00
$0.00
64956
0%
Swedesboro Borough
$175,357,422.67 6.015
$2,329,879.51
$0.00
$0.00
07593
%
Woolwich Township
$1,212,366,964.3 41.58
$16,108,066.06
$0.00
$0.00
3 63738
Totals
$2,915,298,573.0
0
8%
100.0
0%
$38,734,000.00
$
$
Page 4 of 12
BONDS AND NOTES FOR UTILITY FUND
Utility
1.
Term bonds
$
2.
Serial bonds
(a) Issued
$
(b) Authorized but not issued
3.
Bond Anticipation Notes
(a) Issued
$
(b) Authorized but not issued
$
4.
Capital Notes (N.J.S.A. 40A:2-8)
(a) Issued
$
(b) Authorized but not issued
$
5.
Other
(a) Issued
$
(b) Authorized but not issued
$
6.
Total
$
1.
2.
3.
4.
DEDUCTIONS APPLICABLE TO BONDS AND NOTES
FOR SELF-LIQUIDATING PURPOSES
Self-Liquidating Utility Calculation
Total Cash Receipts from Fees, Rents or
Other Charges for Year
Operating and Maintenance Cost
Debt Service
(a) Interest
(b) Notes
(c) Serial Bonds
(d) Sinking Fund
Requirements
Debt Service per Current Budget
(N.J.S.A. 40A:2-52)
$
$
$
$
$
$
(a) Interest on Refunding
$
Bonds
(b) Refunding Bonds
$
5.
Anticipated Deficit in Dedicated
$
Assessment Budget
6.
Total Debt Service
$
7.
Total Deductions (Line 2 plus Line 6)
$
8.
Excess in Revenues (Line 1 minus Line 7)
$
9.
Deficit in Revenues (Line 7 minus Line 1)
$
10. Total Debt Service (Line 6)
$
11.
Deficit (smaller of Line 9 or Line 10)
$
If Excess in Revenues (Line 8) all Utility
Debt is Deductible
(a) Gross System Debt
(b) Less: Deficit (Capitalized at 5%), (Line 9
$
$
or line 11)
$- times 20
(c)
Deduction
$
(d)
Plus: Cash held to Pay Bonds and Notes
included in 2 (a) above
$
(e)
Total Deduction (Deficit in revenues)
$
(f)
Non Deductible Combined GO Debt
$
Total Allowable Deduction
$
Page 5 of 12
1. Term Bonds
Total Term Bonds
OTHER BONDS, NOTES AND LOANS
2. Serial Bonds (state purposes separately)
$
$
(a) Issued
General Obligation Refunding Bonds - 2015
$4,040,000.00
General Obligation Bonds - 2016
$5,335,000.00
General Obligation Refunding Bonds - 2017
$6,535,000.00
Total Serial Bonds Issued
$15,910,000.00
(b) Bonds Authorized but not Issued
Total Serial Bonds Authorized but not Issued
3. Total Serial Bonds Issued and Authorized but not Issued
Page 6 of 12
$
$
$15,910,000.00
OTHER BONDS, NOTES AND LOANS
BOND ANTICIPATION NOTES (state purposes separately)
4. Bond Anticipation Notes
(a) Issued
Total Bond Anticipation Notes Issued
$
$
(b) Authorized but not Issued
Ord 17-16 Various Roadway and Drainage
Improvements
$193,000.00
Total Bond Anticipation Notes Authorized but not
Issued
$193,000.00
5. Total Bond Anticipation Notes Issued and Authorized but not Issued
Page 7 of 12
$193,000.00
OTHER BONDS, NOTES AND LOANS
MISCELLANEOUS BONDS, NOTES AND LOANS
(not including Tax Anticipation Notes, Emergency Notes, Special Emergency Notes and Utility Revenue Notes)
6. Miscellaneous Bonds, Notes and Loans
(a) Issued
Green Acres Trust Loan
Miscellaneous Bonds, Notes and Loans Issued
$243,889.01
$243,889.01
(b) Authorized but not Issued
Ord 2017-19 Various Sewer Improvements
$15,400,000.00
Miscellaneous Bonds and Notes Authorized but not
$15,400,000.00
Issued
Total Miscellaneous Bonds, Notes and Loans Issued and Authorized but not
$15,643,889.01
Issued
Total of all Miscellaneous Bonds, Notes and Loans Issued and Authorized but
not Issued
$31,746,889.01
Page 8 of 12
DEDUCTIONS APPLICABLE TO OTHER BONDS AND NOTES
1. Amounts held or to be held for the sole purpose of paying general bonds and
notes included
(a) Sinking funds on hand for term bonds
$
$
(b) Funds on hand (including proceeds of bonds and notes held to pay other
bonds and notes), in those cases where such funds cannot be diverted to
purposes other than the payment of bonds and notes
Reserve for Debt Service
$161,838.65
(c) Estimated proceeds of bonds and notes authorized but not issued where
such proceeds will be used for the sole purpose of paying bonds and notes
$161,838.65
$
$
(d) Accounts receivable from other public authorities applicable only to the
payment of any part of the gross debt not otherwise deductible
$
$
2.
Bonds authorized by another Public Body to be guaranteed by the $
municipality
3.
Bonds issued and bonds authorized by not issued to meet cash grants-in-
aid for housing authority, redevelopment agency or municipality acting as
its local public agency [N.J.S.A. 55:14B-4.1(d)]
$
4.
Bonds issued and bonds authorized but not issued - Capital projects for
County Colleges (N.J.S.A. 18A:64A-22.1 to 18A:64A-22.8)
$
5.
Refunding Bonds (N.J.S.A 40A:2-52)
Total Deductions Applicable to Other Bonds and Notes
Page 9 of 12
$
$
$161,838.65
J
BONDS AUTHORIZED/ISSUED BY ANOTHER PUBLIC BODY TO BE GUARANTEED
BY THE MUNICIPALITY
Total Bonds and Notes authorized/issued by another Public Body to be
guaranteed by the municipality
Page 10 of 12
$
$
SPECIAL DEBT STATEMENT BORROWING POWER
AVAILABLE UNDER NJSA 40A:2-7(f)
1. Balance of debt incurring capacity December 31, 2012
(NJSA 40:1-16(d))
2. Obligations heretofore authorized during 2013 in
excess of debt limitation and pursuant to:
$
(a) NJSA 40A:2-7, paragraph (d)
$
(b)
NJSA 40A:2-7, paragraph (f)
$
(c)
NJSA 40A:2-7, paragraph (g)
Total
$
3.
Less 2012 authorizations repealed during 2013
$0.00
$
4. Net authorizations during 2013
5. Balance of debt incurring capacity December 31, 2013
(NJSA 40:1-16(d))
Page 11 of 12
$
$0.00
Obligations NOT Included in Gross Debt
1. Capital Leases and Other Commitments
2.
Total Leases and Other Comittments
Guarantees NOT included in Gross Debt - Public
and Private
Total Guarantees NOT included in Gross Debt-
Public and Private
Page 12 of 12
$
$
$
$