annual financial statement for the year 2018 …€¦ · page 1 of 76 annual financial statement...

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ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2018(UNAUDITED)

POPULATION LAST CENSUS 5,178

NET VALUATION TAXABLE 2018 282,422,500MUNICODE 0602

FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY: COUNTIES - JANUARY 26, 2019

MUNICIPALITIES - FEBRUARY 10, 2019

ANNUAL FINANCIAL STATEMENT REQUIRED TO BE FILED UNDER NEW JERSEY STATUTES ANNOTATED 40A:5-12, AS AMENDED, COMBINED WITH INFORMATION REQUIRED PRIOR TO CERTIFICATION OF BUDGETS BY THE DIRECTOR OF THE DIVISION OF LOCAL GOVERNMENT SERVICES

Township of Commercial County of Cumberland

SEE BACK COVER FOR INDEX AND INSTRUCTIONS. DO NOT USE THESE SPACESDate Examined By:

1 Preliminary Check2 Examined

I hereby certify that the debt shown on Sheets 31 to 34a, 49 to 51a and 63 to 65a are complete, were computed by me and can be supported upon demand by a register or other detailed analysis.

Signature:Title:

(This MUST be signed by Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.)

REQUIRED CERTIFICATION BY THE CHIEF FINANCIAL OFFICER:

I hereby certify that I am responsible for filing this verified Annual Financial Statement, and information required also included herein and that this Statement is an exact copy of the original on file with the clerk of the governing body, that all calculations, extensions and additions are correct, that no transfers have been made to or from emergency appropriations and all statements contained herein are in proof; I further certify that this statement is correct insofar as I can determine from all the books and records kept and maintained in the Local Unit.

Further, I do hereby certify that I Pamela Humphries am the Chief Financial Officer, License #N-0542, of the Township of Commercial, County of Cumberland and that the statements annexed hereto and made a part hereof are true statements of the financial condition of the Local Unit as at December 31, 2018, completely in compliance with N.J.S.A. 40A:5-12, as amended. I also give complete assurances as to the veracity of required information included herein, needed prior to certification by the Director of Local Government Services, including the verification of cash balances as of December 31, 2018.

Prepared by Chief Financial Officer: No

IT IS HEREBY INCUMBENT UPON THE CHIEF FINANCIAL OFFICER, WHEN NOT PREPARED BY SAID, AT A MINIMUM MUST REVIEW THE CONTENTS OF THIS ANNUAL FINANCIAL STATEMENT WITH THE PREPARER, SO AS TO BE FAMILIAR WITH THE REPRESENTATIONS AND ASSERTIONS MADE HEREIN.

SignatureTitleAddressPhone NumberEmail

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THE REQUIRED CERTIFICATION BY AN RMA IS AS FOLLOWS:Preparation by Registered Municipal Accountant (Statement of Statutory Auditor Only)

I have prepared the post-closing trial balances, related statements and analyses included in the accompanying Annual Financial Statement from the books of account and records made available to me by the Township of Commercial as of December 31, 2018 and have applied certain agreed-upon procedures thereon as promulgated by the Division of Local Government Services, solely to assist the Chief Financial Officer in connection with the filing of the Annual Financial Statement for the year then ended as required by N.J.S.A. 40A:5-12, as amended.

Because the agreed-upon procedures do not constitute an examination of accounts made in accordance with generally accepted auditing standards, I do not express an opinion on any of the post-closing trial balances, related statements and analyses. In connection with the agreed-upon procedures no matters came to my attention that caused me to believe that the Annual Financial Statement for the year end December 31, 2018 is not in substantial compliance with the requirements of the State of New Jersey, Department of Community Affairs, Division of Local Government Services. Had I performed additional procedures, or had I made an examination of the financial statements in accordance with generally accepted auditing standards, other matters might have come to my attention that would have been reported to the governing body and the Division. This Annual Financial Statement relates only to the accounts and items prescribed by the Division and does not extend to the financial statements of the municipality/county, taken as a whole.

Listing of agreed-upon procedures not performed and/or matters coming to my attention of which the Director should be informed:

Registered Municipal AccountantBowman & Company LLP

Firm Name

Address

Phone Number

Email

Certified by me2/26/2019

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MUNICIPAL BUDGET LOCAL EXAMINATION QUALIFICATION CERTIFICATIONBY

CHIEF FINANCIAL OFFICER

One of the following Certifications must be signed by the Chief Financial Officer if your municipality is eligible for local examination.

CERTIFICATION OF QUALIFYING MUNICIPALITY

1. The outstanding indebtedness of the previous fiscal year is not in excess of 3.5%2. All emergencies approved for the previous fiscal year did not exceed 3% of total appropriations;3. The tax collection rate exceeded 90%4. Total deferred charges did not equal or exceed 4% of the total tax levy;5. There were no "procedural deficiencies" noted by the registered municipal accountant on Sheet 1a

of the Annual Financial Statement; and6. There was no operating deficit for the previous fiscal year.7. The municipality did not conduct an accelerated tax sale for less than 3 consecutive years.8. The municipality did not conduct a tax levy sale the previous fiscal year and does not plan to conduct

one in the current year.9. The current year budget does not contain a levy or appropriation "CAP" referendum.10. The municipality will not apply for Transitional Aid for 2019.

The undersigned certifies that this municipality has compiled in full in meeting ALL of the above criteria in determining its qualification for local examination of its Budget in accordance with N.J.A.C. 5:30-7.5.

Municipality: CommercialChief Financial Officer:Signature:Certificate #:Date: 2/17/2019

CERTIFICATION OF NON-QUALIFYING MUNICIPALITY

The undersigned certifies that this municipality does not meet item(s) # Group #2 - Not Eligible of the criteria above and therefore does not qualify for local examination of its Budget in accordance with N.J.A.C. 5:30-7.5.

Municipality: CommercialChief Financial Officer:Signature:Certificate #:Date: 2/17/2019

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22-1845212Fed I.D. #

CommercialMunicipalityCumberland

County

Report of Federal and State Financial Assistance Expenditures of Awards

Fiscal Year Ending: December 31, 2018

(1) (2) (3)Federal Programs

Expended (administered by

the State)

State Programs Expended

Other Federal Programs Expended

TOTAL $ $275,732.59 $10,364.80

Type of Audit required by OMB Uniform Guidance and N.J. Circular 15-08-OMB:

Financial Statement Audit Performed in Accordance with Government Auditing

Standards (Yellow Book)

Note: All local governments, who are recipients of federal and state awards (financial assistance), must report the total amount of federal and state funds expended during its fiscal year and the type of audit required to comply with OMB Uniform Guidance and N.J. Circular 15-08 OMB. The single audit threshold has been increased to $750,000 beginning with fiscal year starting 1/1/2015.

(1) Report expenditures from federal pass-through programs received directly from state governments. Federal pass-through funds can be identified by the Catalog of Federal Domestic Assistance (CFDA) number reported in the State's grant/contract agreements.

(2) Report expenditures from state programs received directly from state government or indirectly from pass-through entities. Exclude state aid (i.e., CMPTRA, Energy Receipts tax, etc.) since there are no compliance requirements.

(3) Report expenditures from federal programs received directly from the federal government or indirectly from entities other than state governments.

2/17/2019Signature of Chief Financial Officer Date

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IMPORTANT!

READ INSTRUCTIONSINSTRUCTION

The following certification is to be used ONLY in the event there is NO municipality operated utility.

If there is a utility operated by the municipality or if a "utility fund" existed on the books of account, do not sign this statement and do not remove any of the UTILITY sheets from the document.

CERTIFICATION

I hereby certify that there was no "utility fund" on the books of account and there was no utility owned and operated by the Township of Commercial, County of Cumberland during the year 2018.

I have therefore removed from this statement the sheets pertaining only to utilities.

Signature:Name:Title:

(This must be signed by the Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.)

MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2018

☒ Certification is hereby made that the Net Valuation Taxable of property liable to taxation for the tax year 2019 and filed with the County Board of Taxation on January 10, 2019 in accordance with the requirement of N.J.S.A. 54:4-35, was in the amount of $279,498,500

SIGNATURE OF TAX ASSESSORCommercial

MUNICIPALITYCumberlandCOUNTY

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CURRENT FUND ASSETSCOMPARATIVE BALANCE SHEET – REGULATORY BASIS

AS OF DECEMBER 31, 2018

2018 2017

Cash:Cash 2,522,772.25 2,741,789.71Sub Total Cash 2,522,772.25 2,741,789.71

Investments:Sub Total Investments 0.00

Other ReceivablesDue from State of NJ - Senior Citizens & Veterans Deductions 7,856.78 8,857.46Sub Total Assets not offset by Reserve for Receivables 8,857.46

Receivables and Other Assets with Full ReservesDelinquent Taxes 450,034.85 278,248.07Tax Title Liens 588,576.07 538,669.00Property Acquired by Taxes 1,634,300.00 1,857,900.00Revenue Accounts Receivable 1,272.94 2,702.43Due from Animal Control Fund 375.78 101.15Interfund Account Receivable 267,652.43 56,689.09Sub Total Receivables and Other Assets with Reserves 2,942,212.07 2,734,309.74

Deferred ChargesSub Total Deferred Charges 0.00

Total Assets 5,472,841.10 5,484,956.91

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CURRENT FUND LIABILITIES, RESERVES AND FUND BALANCECOMPARATIVE BALANCE SHEET – REGULATORY BASIS


2018 2017

Liabilities:Reserve for Encumbrances 119,012.69 31,779.90Appropriation Reserves 274,003.85 276,084.07Accounts Payable 88.00 15,676.00Tax Overpayment 0.00 718.53Local District School Tax Payable 240,744.50 194,474.50Due County for Added and Omitted Taxes 4,047.32 9,802.10Prepaid Taxes 108,835.07 150,674.53Due from/to General Capital Fund 295,080.25 37,264.56Due to Trust Other Fund 5,850.60 5,767.15Due to State of NJ - Marriage License Fees 150.00 75.00Due to State of NJ - UCC Fees 619.00 761.00Total Liabilities 1,048,431.28 37,264.56

Total Liabilities, Reserves and Fund Balance:Reserve for Receivables 2,942,212.07 2,771,574.30Fund Balance 1,482,197.75 2,064,834.39Total Liabilities, Reserves and Fund Balance 5,472,841.10 37,264.56

Deferred School Taxes:Deferred School Taxes 794,919.00 794,919.00

School Taxes Deferred 794,919.00 794,919.00

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FEDERAL AND STATE GRANT FUNDCOMPARATIVE BALANCE SHEET – REGULATORY BASIS


2018 2017

AssetsFederal and State Grants Receivable 950,405.51 524,310.51Total Assets Federal and State Grant Fund 950,405.51 524,310.51

LiabilitiesReserve for Encumbrances 44,589.64 16,191.00Appropriated Reserves for Federal and State Grants 638,163.44 445,640.08Unappropriated Reserves for Federal and State Grants 0.00 5,615.34Due to Current Fund 267,652.43 56,689.09Total Liabilities Federal and State Grant Fund 950,405.51 0.00

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CAPITAL FUNDCOMPARATIVE BALANCE SHEET – REGULATORY BASIS


2018 2017

AssetsDue from Current Fund 295,080.25 37,264.56

Deferred ChargesDeferred Charges to Future Taxation - Unfunded 1,097,700.00Deferred Charges to Future Taxation - Unfunded 0.00 1,196,500.00Deferred Charges - Unfunded 1,196,500.00Total Deferred Charges 1,097,700.00 2,393,000.00

Total Assets General Capital Fund 1,392,780.25 2,430,264.56

LiabilitiesReserve for Encumbrances 67,363.61 73,622.84Improvement Authorizations - Funded 24,491.00 5,491.00Improvement Authorizations - Unfunded 50,892.89 59,222.87Bond Anticipation Notes 1,097,700.00 911,500.00Reserve for Buildings and Groudnds 56,933.00 19,390.00Reserve for Equipment Replacement 0.00 7,382.43Capital Improvement Fund 86,110.69 73,337.24Due to Current Fund 37,264.56Total Liabilities and Reserves 1,383,491.19 0.00

Fund BalanceCapital Surplus 9,289.06 9,289.06Total General Capital Liabilities 1,392,780.25 0.00

Estimated Proceeds Bonds and Notes & Bonds and Notes Authorized but not Issued

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TRUST ASSESSMENT FUNDCOMPARATIVE BALANCE SHEET – REGULATORY BASIS


2018 2017

Cash:Sub Total Cash 0.00

InvestmentsSub Total Investments 0.00

Assets not offset by ReceivablesSub Total Assets not offset by Receivables 0.00

Assets offset by the Reserve for ReceivablesAssets offset by the Reserve for Receivables 0.00

Deferred ChargesSub Total Deferred Charges 0.00

Total Assets 0.00

Liabilities and ReservesTotal Liabilities and Reserves 0.00

Fund BalanceTotal Liabilities, Reserves, and Fund Balance 0.00

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OTHER TRUST FUNDCOMPARATIVE BALANCE SHEET – REGULATORY BASIS


2018 2017

Trust Animal Control AssetsCash 4,685.78 5,003.75Total Dog Trust Assets 4,685.78 5,003.75

Animal Control Trust ReservesDue to Current Fund 375.78 101.15Reserve for Animal Control Fund Expenditures 4,310.00 4,902.60Total Dog Trust Reserves 4,685.78 0.00

CDBG AssetsTotal CDBG Trust Assets 0.00

CDBG ReservesTotal CDBG Trust Reserves and Liabilities 0.00

LOSAP Trust AssetsTotal LOSAP Trust Assets 0.00

LOSAP Trust ReservesTotal LOSAP Trust Reserves 0.00

Open Space Trust AssetsTotal Open Space Trust Assets 0.00

Open Space Trust ReservesTotal Open Space Trust Reserves 0.00

Other Trust AssetsCash 372,452.42 363,164.93Due from Current Fund 5,850.60 5,767.15Total Other Trust Assets 378,303.02 368,932.08

Other Trust ReservesReserve for Payroll Account 3,217.12 2,639.67Trust Fund Liability Reserve Account 1,429.82 1,088.80Total Miscellaneous Trust Reserves (31-287) 358,943.51 0.00Total Trust Escrow Reserves (31-286) 14,712.57 0.00

Total Other Trust Reserves and Liabilities 378,303.02 2,639.67

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PUBLIC ASSISTANCE FUNDCOMPARATIVE BALANCE SHEET – REGULATORY BASIS


2018 2017

AssetsTotal Public Assistance Assets 0.00

Liabilities and ReservesTotal Public Assistance Reserves and Liabilities 0.00

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SCHEDULE OF TRUST FUND RESERVES

Purpose Amount Dec. 31, 2017 Per Audit Report Receipts Disbursements Balance as of

Dec. 31, 2018Reserve for Net Payroll $ $544,733.73 $544,733.73 $0.00DEP Closure Escrow Account $29,831.11 $74.66 $ $29,905.77Fish and Game - Due to State or Agent $1,088.80 $5,978.27 $5,637.25 $1,429.82Payroll Taxes Payable $2,639.67 $417,339.22 $416,761.77 $3,217.12Post Closure Landfill Escrow $152,194.63 $380.93 $ $152,575.56Recreational Donations $10,400.84 $1,246.00 $927.00 $10,719.84Reserve for Accumulated Absences $88,014.03 $218.46 $3,588.92 $84,643.57Reserve for Planning Board Escrow $18,916.99 $3,538.53 $7,323.30 $15,132.22Reserve for Storm Recovery $5,500.00 $ $ $5,500.00Reserve for Tax Sale Premiums $14,200.00 $ $ $14,200.00Reserve for Unemployment $44,315.01 $4,070.76 $3,620.13 $44,765.64Reserve for Veterans' Park $1,000.05 $14,700.86 $ $15,700.91Tax Title Lien $512.57 $169,123.97 $169,123.97 $512.57Totals $368,613.70 $1,161,405.39 $1,151,716.07 $378,303.02

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ANALYSIS OF TRUST ASSESSMENT CASH AND INVESTMENTS PLEDGED TOLIABILITIES AND SURPLUS

ReceiptsTitle of Liability to which Cash and Investments are

PledgedAudit Balance Dec.

31, 2017 Assessments and Liens Current Budget

Other Disbursements Balance Dec. 31, 2018

Assessment Bond Anticipation Note Issues:

Other Liabilities

Trust SurplusTrust Surplus 0.00 0.00Less Assets “Unfinanced”

Totals 0.00 0.00

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CASH RECONCILIATION DECEMBER 31, 2018

CashOn Hand On Deposit

Less Checks Outstanding Cash Book Balance

Capital - GeneralCurrent 5,955.53 2,563,706.80 46,890.08 2,522,772.25Federal and State Grant FundMunicipal Open Space Trust FundPublic Assistance #1**Public Assistance #2**Trust - AssessmentTrust - Dog License 4,685.78 4,685.78Trust - Other 206.75 386,362.57 14,116.90 372,452.42

Total 6,162.28 2,954,755.15 61,006.98 2,899,910.45

* - Include Deposits In Transit

** - Be sure to include a Public Assistance reconciliation and trial balance if the municipality maintains such a bank account

REQUIRED CERTIFICATION

I hereby certify that all amounts shown in the "Cash on Deposit" column on Sheet 9 and 9(a) have been verified with the applicable bank statements, certificates, agreements or passbooks at December 31, 2018.

I also certify that all amounts, if any, shown for Investments in Savings and Loan Associations on any trial balance have been verified with the applicable passbooks at December 31, 2018.

All "Certificates of Deposit", "Repurchase Agreements" and other investments must be reported as cash and included in this certification.

(THIS MUST BE SIGNED BY THE REGISTERED MUNICIPAL ACCOUNTANT (STATUTORY AUDITOR) OR CHIEF FINANCIAL OFFICER) depending on who prepared this Annual Financial Statement as certified to on Sheet 1 or 1(a).

Signature: Title:

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CASH RECONCILIATION DECEMBER 31, 2018 (CONT'D)LIST BANKS AND AMOUNTS SUPPORTING "CASH ON DEPOSIT"

Bank AmountNewfield - Escrow Robert G. Johnson 1,473.47Newfield - Escrow William Beatty 238.66Newfield - Accumulated Sick and Vacation Trust 84,643.57Newfield - Animal Control Account 4,685.78Newfield - Current Fund 2,454,584.07Newfield - Escrow Briarwood Homes LLC 2,435.75Newfield - Escrow Fernanda L Kaspar 1,397.61Newfield - Escrow Frank Wheaton 0.17Newfield - Escrow Ricci Bros Sand Co 1,732.40Newfield - Escrow Unimin Corporation 5,222.07Newfield - Escrow US Silica 1,999.71Newfield - Fish and Game Trust 1,223.07Newfield - Land Use Board Escrow Trust 0.99Newfield - Land Use Escrow Disbursement 631.39Newfield - Municipal Clerk's Account 161.83Newfield - NJDEP Closure Escrow 29,905.77Newfield - Payroll Account 5,619.18Newfield - Post Closure Landfill Trust 152,575.56Newfield - Recreation Donations 10,719.84Newfield - Tax Collector 92,511.69Newfield - Tax Sale Premium 26,956.54Newfield - Unemployment 43,885.91Newfield - Veteran's Park Trust 15,700.91State of New Jersey Cash Management Fund 16,449.21

Total 2,954,755.15

Note: Sections N.J.S.A. 40A:4-61, 40A:4-62 and 40A:4-63 of the Local Budget Law require that separate bank accounts be maintained for each allocated fund.

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MUNICIPALITIES AND COUNTIES FEDERAL AND STATE GRANTS RECEIVABLE

Grant Balance Jan. 1, 2018 2018 Budget Revenue Realized Received Canceled Other Balance

Dec. 31, 2018Other Grant Receivable

DescriptionJIF EPL/Cyber Risk Management Awards 725.00 725.00 0.00JIF Safety Incentive Program Awards 1,650.00 1,650.00NJDOT Port Norris Drainage Improvement 425,000.00 425,000.002014 ANJEC Grant - Lake Audrey Project 15.00 15.00Clean Communities Grant 280.57 16,132.06 16,132.06 280.57FEMA Bivalve Shore Protection 40,050.00 40,050.00JIF Optional Safety Budget Program 1,500.00 1,500.00 1,500.00 1,500.00JIF Wellness Incentive Program 275.00 275.00 550.00Municipal Alliance Grant 1,871.34 9,695.00 10,525.00 1,041.34NJ Department of Environmental Protection Bivalve Shore Protection 75,000.00 75,000.00NJDOT Doris, Ferry, and Maurice Roads 11,274.60 11,274.60NJDOT Laurel Lake Drainage Phase III 213,044.00 213,044.00NJDOT Raymond Drive Phase III 181,000.00 181,000.00Total 524,310.51 454,977.06 28,882.06 0.00 0.00 950,405.51

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SCHEDULE OF APPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS

Transferred from 2018 Budget AppropriationsGrant Balance

Jan. 1, 2018 Budget Appropriation by 40A:4-87

Expended Cancelled Other Balance Dec. 31 2018

Other Grant Receivable Description

Alcohol Education and Rehabilitation

3,199.00 3,199.00

ANJEC Grant 15.00 15.00Bivalve Shore Protection 12,350.00 8,430.00 7,615.00 11,535.00 PY Encumbrances

TransferredClean Communities Act 9,035.71 16,132.06 14,131.34 11,036.43Dike 25,099.00 1,934.80 23,164.20JIF EPL/Cyber Risk Management Awards

725.00 725.00 0.00

JIF Optional Safety Budget Program 1,500.00 1,499.58 0.42JIF Safety Awards Program 930.75 1,650.00 1,277.72 60.00 1,363.03 PY EncumbrancesJIF Wellness Incentive Program 275.00 275.00 550.00Laurel Lake Small Cities Grant 746.00 746.00 0.00 PY EncumbranceMunicipal Drug Alliance 8,774.27 9,695.00 12,902.85 5,566.42Municipal Drug Alliance - Grant Match

2,500.00 2,500.00 0.00

NJ Department of Environmental Protection Bivalve Shore Protection

75,000.00 75,000.00

NJ Department of Environmental Protection Bivalve Shore Protection Match

18,750.00 18,750.00

NJDOT Laurel Lake Drainage Phase III

213,044.00 213,044.00 0.00

NJDOT Port Norris Drainage Improvement - Local Match

40,000.00 40,000.00 0.00

NJDOT Port Norris Drainage Improvements

425,000.00 25,000.00 400,000.00

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Jan. 1, 2018 Budget Appropriation by 40A:4-87

Expended Cancelled Other Balance Dec. 31 2018


NJDOT Raymond Drive Phase III 12,335.00 8,050.00 15,515.05 19,800.05 PY Encumbrances + PY Expenditures Reimbursed

Oyster Grant 48,413.00 48,413.00Petsmart Charities Grant 1,587.00 2,104.40 720.00 202.60 PY EncumbrancesRecycling Tonnage Grant 15,351.35 5,615.34 1,398.40 19,568.29Sustainable Jersey Small Grants Program

1,656.00 1,656.00 0.00

Total 445,815.08 486,685.34 16,407.06 335,400.09 0.00 24,656.05 638,163.44

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SCHEDULE OF UNAPPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS


Jan. 1, 2018 Budget Appropriation By 40A:4-87

Receipts Grants Receivable Other Balance Dec. 31, 2018


Clean Communities 16,132.06 16,132.06 0.00JIF EPL/Cyber Risk Management Awards

725.00 725.00 0.00

JIF Optional Safety Budget Program 1,500.00 1,500.00 0.00JIF Safety Incentive Program Awards 1,650.00 1,650.00 0.00JIF Wellness Incentive Program 275.00 275.00 0.00Municipal Alliance for Alcohol and Drug Abuse

9,695.00 9,695.00 0.00

NJDOT Port Norris Drainage Improvement

425,000.00 425,000.00 0.00

Recycling Tonnage Grant 5,615.34 5,615.34 0.00Total 5,615.34 444,185.34 16,407.06 0.00 454,977.06 0.00 0.00

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LOCAL DISTRICT SCHOOL TAXDebit Credit

Balance January 1, 2018 xxxxxxxxxx xxxxxxxxxx School Tax Payable # xxxxxxxxxx 194,474.50 School Tax Deferred(Not in excess of 50% of Levy - 2017 -2018) xxxxxxxxxx 794,919.00Prepaid Beginning BalanceLevy School Year July 1, 2018- June 30, 2019 xxxxxxxxxx 2,065,080.00Levy Calendar Year 2018 xxxxxxxxxxPaid 2,018,810.00 xxxxxxxxxxBalance December 31, 2018 xxxxxxxxxx xxxxxxxxxx School Tax Payable # 240,744.50 xxxxxxxxxx School Tax Deferred (Not in excess of 50% of Levy -2018 -2019) 794,919.00 xxxxxxxxxxPrepaid Ending Balance xxxxxxxxxx

3,054,473.50 3,054,473.50

Amount Deferred at during year

* Not including Type 1 school debt service, emergency authorizations-schools, transfer to Board of Education for use of local schools

# Must include unpaid requisitions

MUNICIPAL OPEN SPACE TAXDebit Credit

Balance January 1, 2018 xxxxxxxxxx 0.00

2018 Levy xxxxxxxxxx

Added and Omitted Levy xxxxxxxxxx

Interest Earned xxxxxxxxxx

Expenditures xxxxxxxxxx

Balance December 31, 2018 0.00 xxxxxxxxxx

0.00 0.00

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REGIONAL SCHOOL TAXDebit Credit

Balance January 1, 2018 xxxxxxxxxx xxxxxxxxxx School Tax Payable xxxxxxxxxx 0.00 School Tax Deferred (Not in excess of 50% of Levy - 2017 -2018) xxxxxxxxxx 0.00Prepaid Beginning Balance xxxxxxxxxxLevy School Year July 1, 2018- June 30, 2019 xxxxxxxxxxLevy Calendar Year 2018 xxxxxxxxxxPaid xxxxxxxxxxBalance December 31, 2018 xxxxxxxxxx xxxxxxxxxx School Tax Payable 0.00 xxxxxxxxxx School Tax Deferred (Not in excess of 50% of Levy - 2018 -2019) 0.00 xxxxxxxxxxPrepaid Ending Balance xxxxxxxxxx

0.00 0.00

Amount Deferred at during Year# Must include unpaid requisitions

REGIONAL HIGH SCHOOL TAXDebit Credit

Balance January 1, 2018 xxxxxxxxxx xxxxxxxxxx School Tax Payable xxxxxxxxxx 0.00 School Tax Deferred (Not in excess of 50% of Levy - 2017 - 2018 ) xxxxxxxxxx 0.00Prepaid Beginning Balance xxxxxxxxxxLevy School Year July 1, 2018- June 30, 2019 xxxxxxxxxxLevy Calendar Year 2018 xxxxxxxxxxPaid xxxxxxxxxxBalance December 31, 2018 xxxxxxxxxx xxxxxxxxxx School Tax Payable 0.00 xxxxxxxxxx School Tax Deferred (Not in excess of 50% of Levy - 2018 -2019) 0.00 xxxxxxxxxxPrepaid Ending Balance xxxxxxxxxx

0.00 0.00

Amount Deferred at during year# Must include unpaid requisitions

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COUNTY TAXES PAYABLE

Debit CreditBalance January 1, 2018 xxxxxxxxxx xxxxxxxxxx County Taxes xxxxxxxxxx 0.00 Due County for Added and Omitted Taxes xxxxxxxxxx 9,802.102018 Levy xxxxxxxxxx xxxxxxxxxxGeneral County xxxxxxxxxx 2,678,266.13County Library xxxxxxxxxxCounty Health xxxxxxxxxx 126,953.03County Open Space Preservation xxxxxxxxxx 24,293.03Due County for Added and Omitted Taxes xxxxxxxxxx 4,047.32Paid 2,839,314.29 xxxxxxxxxxBalance December 31, 2018 xxxxxxxxxx xxxxxxxxxx County Taxes 0.00 xxxxxxxxxx Due County for Added and Omitted Taxes 4,047.32 xxxxxxxxxx

2,843,361.61 2,843,361.61

Paid for Regular County Levies 2,829,512.19Paid for Added and Omitted Taxes 9,802.10

SPECIAL DISTRICT TAXES

Debit CreditBalance January 1, 2018 xxxxxxxxxx 0.002018Levy (List Each Type of District Tax Separately – see Footnote)

xxxxxxxxxx xxxxxxxxxx

Fire District #1 xxxxxxxxxx 220,320.00Fire District #2 xxxxxxxxxx 204,662.00Fire District #3 xxxxxxxxxx 426,032.00Total 2018 Levy xxxxxxxxxx 851,014.00Paid 851,014.00 xxxxxxxxxxBalance December 31, 2018 0.00 xxxxxxxxxx

851,014.00 851,014.00

Footnote: Please state the number of districts in each instance.

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STATEMENT OF GENERAL BUDGET REVENUES 2018

Source Budget -01 Realized -02Excess or Deficit -03

Surplus Anticipated 585,000.00 585,000.00 0.00Surplus Anticipated with Prior Written Consent of Director of Local GovernmentAdopted Budget 1,457,667.24 1,483,981.77 26,314.53Added by N.J.S.A. 40A:4-87 16,407.06 16,407.06 0.00Total Miscellaneous Revenue Anticipated 1,474,074.30 1,500,388.83 26,314.53Receipts from Delinquent Taxes 275,000.00 275,955.30 955.30

Amount to be Raised by Taxation: xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx (a) Local Tax for Municipal Purposes 1,601,213.13 xxxxxxxxxx xxxxxxxxxx (b) Addition to Local District School Tax xxxxxxxxxx xxxxxxxxxx (c) Minimum Library Tax xxxxxxxxxx xxxxxxxxxxCounty Only: Total Raised by Taxation xxxxxxxxxx xxxxxxxxxxTotal Amount to be Raised by Taxation 1,601,213.13 1,425,243.83 -175,969.30

3,935,287.43 3,786,587.96 -148,699.47

ALLOCATION OF CURRENT TAX COLLECTIONS

Debit CreditCurrent Taxes Realized in Cash xxxxxxxxxx 6,702,704.37Amount to be Raised by Taxation: xxxxxxxxxx xxxxxxxxxx Local District School Tax 2,065,080.00 xxxxxxxxxx Regional School Tax xxxxxxxxxx Regional High School Tax xxxxxxxxxx County Taxes 2,829,512.19 xxxxxxxxxx Due County for Added and Omitted Taxes 4,047.32 xxxxxxxxxx Special District Taxes 851,014.00 xxxxxxxxxx Municipal Open Space Tax xxxxxxxxxxReserve for Uncollected Taxes xxxxxxxxxx 472,192.97Deficit in Required Collection of Current Taxes (or) xxxxxxxxxxBalance for Support of Municipal Budget (or) 1,425,243.83 xxxxxxxxxx*Excess Non-Budget Revenue (see footnote) xxxxxxxxxx*Deficit Non-Budget Revenue (see footnote) xxxxxxxxxx

7,174,897.34 7,174,897.34

* These items are applicable only when there is no "Amount to be Raised by Taxation" in the "Budget" column of the statement at the top of this sheet. In such instances, any excess or deficit in the above allocation would apply to "Non-Budget Revenue" only.

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STATEMENT OF GENERAL BUDGET REVENUES 2018MISCELLANEOUS REVENUES ANTICIPATED: ADDED BY N.J.S.A. 40A:4-87

Source Budget Realized Excess or (Deficit)Clean Communities Grant 16,132.06 16,132.06 0.00JIF Wellness Incentive Program Awards 275.00 275.00 0.00TOTAL 16,407.06 16,407.06 0.00

I hereby certify that the above list of Chapter 159 insertions of revenue have been realized in cash or I have received written notification of the award of public or private revenue. These insertions meet the statutory requirements of N.J.S.A. 40A:4-87 and matching funds have been provided if applicable.

CFO Signature:

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STATEMENT OF GENERAL BUDGET APPROPRIATIONS 2018

2018 Budget as Adopted 3,918,880.372018 Budget - Added by N.J.S.A. 40A:4-87 16,407.06Appropriated for 2018 (Budget Statement Item 9) 3,935,287.43 Appropriated for 2018 Emergency Appropriation (Budget Statement Item 9)Total General Appropriations (Budget Statement Item 9) 3,935,287.43Add: Overexpenditures (see footnote)Total Appropriations and Overexpenditures 3,935,287.43

Deduct Expenditures: Paid or Charged [Budget Statement Item (L)] 3,188,980.60 Paid or Charged - Reserve for Uncollected Taxes 472,192.97 Reserved 274,003.85Total Expenditures 3,935,177.42Unexpended Balances Cancelled (see footnote) 110.01

FOOTNOTES - RE: OVEREXPENDITURESEvery appropriation overexpended in the budget document must be marked with an * and must agree in the aggregate with this item.RE: UNEXPENDED BALANCES CANCELED:Are not to be shown as "Paid or Charged" in the budget document. In all instances "Total Appropriations" and "Overexpenditures" must equal the sum of "Total Expenditures" and "Unexpended Balances Canceled."

SCHEDULE OF EMERGENCY APPROPRIATIONS FOR LOCAL DISTRICT SCHOOL PURPOSES(EXCEPT FOR TYPE I SCHOOL DEBT SERVICE)

2018 Authorizations N.J.S.A. 40A:4-46 (After adoption of Budget) N.J.S.A. 40A:4-20 (Prior to adoption of Budget)Total AuthorizationsDeduct Expenditures: Paid or Charged ReservedTotal Expenditures

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RESULTS OF 2018 OPERATIONCURRENT FUND

Debit CreditCancellation of Accounts Payable 7,356.00Cancelation of Reserves for Federal and State Grants (Credit)Cancellation of Federal and State Grants Receivable (Debit)Deferred School Tax Revenue: Balance December 31, CY 794,919.00Deferred School Tax Revenue: Balance January 1, CY 794,919.00Deficit in Anticipated Revenues: Delinquent Tax CollectionsDeficit in Anticipated Revenues: Miscellaneous Revenues Anticipated 0.00Deficit in Anticipated Revenues: Required Collection of Current Taxes 175,969.30Excess of Anticipated Revenues: Delinquent Tax Collections 955.30Excess of Anticipated Revenues: Miscellaneous Revenues Anticipated 26,314.53Excess of Anticipated Revenues: Required Collection of Current Taxes 0.00Interfund Advances Originating in CY (Debit) 173,973.41Miscellaneous Revenue Not Anticipated 34,079.07Miscellaneous Revenue Not Anticipated: Proceeds of Sale of Foreclosed Property 40,783.32Prior Years Interfunds Returned in CY (Credit)Refund of Prior Year Revenue (Debit)Sale of Municipal Assets (Credit)Senior Citizen Deductions Disallowed - Prior Year Taxes (Debit) 7,639.03Statutory Excess in Reserve for Dog Fund Expenditures (Credit) 2,056.46Unexpended Balances of CY Budget Appropriations 110.01Unexpended Balances of PY Appropriation Reserves (Credit) 248,290.41Surplus Balance 2,363.36 xxxxxxxxxxDeficit Balance xxxxxxxxxx

1,154,864.10 1,154,864.10

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SCHEDULE OF MISCELLANEOUS REVENUES NOT ANTICIPATED

Source Amount RealizedPublic Defender Fees 3,276.00UCC Administrative Fees 1,999.00ABC License Renewal 2,150.00Cat License Fee 351.50Certificate of Occupancy 5,585.00Copies 498.25Court Interest 6.02Duplicate Tax Bills 54.00Forfeited Deposit on Land Sale 600.77Homestead Rebate Postage Refund 562.80Land Sale - Other Properties 8,100.00Land Use Fee 1,150.00Miscellaneous 11.13NSF Checks 80.00Property Lists 204.80Refunds of Prior Year Expenditures 105.67Registrar 666.00Rental of Community Center 1,000.00Road and Street Opening Fees 1,200.00Sale of Equipment 1,202.00Scrap Metal 2,451.20Senior Citizens and Veterans Administrative Fee 1,325.93Tax Search Fee 100.00Tires 543.00Voided Checks 46.00Zone Applications 810.00Total Amount of Miscellaneous Revenues Not Anticipated $34,079.07

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SURPLUS – CURRENT FUNDYEAR 2018

Debit CreditAmount Appropriated in the CY Budget - Cash 585,000.00Amount Appropriated in the CY Budget - with Prior Written Consent of Director of Local Government ServicesBalance January 1, CY (Credit) 2,064,834.39Excess Resulting from CY Operations 2,363.36Miscellaneous Revenue Not Anticipated: Payments in Lieu of Taxes on Real Property (Credit)Balance December 31, 2018 1,482,197.75 xxxxxxxxxx

2,067,197.75 2,067,197.75

ANALYSIS OF BALANCE DECEMBER 31, 2018(FROM CURRENT FUND – TRIAL BALANCE)

Cash 2,522,772.25Investments

Sub-Total 2,522,772.25Deduct Cash Liabilities Marked with “C” on Trial Balance 1,048,431.28Cash Surplus 1,474,340.97Deficit in Cash SurplusOther Assets Pledged to SurplusDue from State of N.J. Senior Citizens and Veterans Deduction 7,856.78Deferred Charges # 0.00Cash Deficit 0.00

Total Other Assets 7,856.78

1,482,197.75

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(FOR MUNICIPALITIES ONLY)CURRENT TAXES – 2018 LEVY

1. Amount of Levy as per Duplicate (Analysis) # $7,354,144.92 or (Abstract of Ratables) $

2. Amount of Levy Special District Taxes $3. Amount Levied for Omitted Taxes under N.J.S.A. 54:4-63.12 et. seq. $4. Amount Levied for Added Taxes under $10,404.66

N.J.S.A. 54:4-63.1 et. seq.5a. Subtotal 2018 Levy $7,364,549.585b. Reductions due to tax appeals ** $5c. Total 2018 Tax Levy $7,364,549.586. Transferred to Tax Title Liens $163,537.467. Transferred to Foreclosed Property $8. Remitted, Abated or Canceled $94,477.439. Discount Allowed $10. Collected in Cash: In 2017 $150,674.53

In 2018* $6,379,520.41Homestead Benefit Revenue $100,074.42State's Share of 2018 Senior Citizens and Veterans Deductions Allowed $72,435.01Total to Line 14 $6,702,704.37

11. Total Credits $6,960,719.26

12. Amount Outstanding December 31, 2018 $403,830.3213. Percentage of Cash Collections to Total 2018 Levy,

(Item 10 divided by Item 5c) is 91.0131

Note: Did Municipality Conduct Accelerated Tax Sale or Tax Levy Sale? No

14. Calculation of Current Taxes Realized in Cash:Total of Line 10 $6,702,704.37Less: Reserve for Tax Appeals Pending $ State Division of Tax AppealsTo Current Taxes Realized in Cash $6,702,704.37

Note A: In showing the above percentage the following should be noted:Where Item 5 shows $7,364,549.58, and Item 10 shows $6,702,704.37, the percentage represented by the cash collections would be $6,702,704.37 / $7,364,549.58 or 91.0131. The correct percentage to be shown as Item 13 is 91.0131%.

# Note: On Item 1 if Duplicate (Analysis) Figure is used; be sure to include Senior Citizens and Veterans Deductions.

* Include overpayments applied as part of 2018 collections.** Tax appeals pursuant to R.S. 54:3-21 et seq and/or R.S. 54:48-1 et seq approved by resolution of the governing body prior to introduction of municipal budget. (N.J.S.A. 40A:4-41)

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ACCELERATED TAX SALE/TAX LEVY SALE – CHAPTER 99To Calculate Underlying Tax Collection Rate for 2018

Utilize this sheet only if you conducted an Accelerated Tax Sale or Tax Levy Sale pursuant to Chapter 99, P.L. 1997

(1)Utilizing Accelerated Tax SaleTotal of Line 10 Collected in Cash……………………………………………...LESS: Proceeds from Accelerated Tax Sale…………………………………… NET Cash Collected…………………………………………………….Line 5c Total 2018 Tax Levy……………Percentage of Collection Excluding Accelerated Tax Sale Proceeds(Net Cash Collected divided by Item 5c) is……………………………………..

(2)Utilizing Tax Levy SaleTotal of Line 10 Collected in Cash………………………………………………LESS: Proceeds from Tax Levy Sale (excluding premium)…………………….. NET Cash Collected...................................................................................Line 5c Total 2018 Tax Levy……………Percentage of Collection Excluding Accelerated Tax Sale Proceeds(Net Cash Collected divided by Item 5c) is……………………………………

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SCHEDULE OF DUE FROM/TO STATE OF NEW JERSEYFOR SENIOR CITIZENS AND VETERANS DEDUCTIONS

Debit Credit1 Balance Jan 1, CY: Due From State of New

Jersey (Debit)8,857.46

1 Balance Jan 1, CY: Due To State of New Jersey (Credit)

0.00

9 Received in Cash from State (Credit) 65,796.665 Sr Citizens Deductions Allowed By Tax

Collector – Prior Years (Debit)4 Sr. Citizen & Veterans Deductions Allowed

by Collector (Debit)2,250.00

7 Sr. Citizen & Veterans Deductions Disallowed by Collector (Credit)

1,064.99

8 Sr. Citizens Deductions Disallowed By Tax Collector PY Taxes (Credit)

7,639.03

2 Sr. Citizens Deductions Per Tax Billings (Debit)

38,500.00

3 Veterans Deductions Per Tax Billings (Debit)

32,750.00

Balance December 31, 2018 7,856.7882,357.46 82,357.46

Calculation of Amount to be included on Sheet 22, Item 10- 2018 Senior Citizens and Veterans Deductions Allowed

Line 2 38,500.00Line 3 32,750.00Line 4 2,250.00Sub-Total 73,500.00Less: Line 7 1,064.99To Item 10 72,435.01

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SCHEDULE OF RESERVE FOR TAX APPEALS PENDING(N.J.S.A. 54:3-27)

Debit CreditBalance January 1, 2018 xxxxxxxxxx 0.00 Taxes Pending Appeals 0.00 xxxxxxxxxx xxxxxxxxxx Interest Earned on Taxes Pending Appeals 0.00 xxxxxxxxxx xxxxxxxxxxContested Amount of 2018 Taxes Collected which are Pending State Appeal xxxxxxxxxxInterest Earned on Taxes Pending State Appeals xxxxxxxxxxBudget Appropriation xxxxxxxxxxCash Paid to Appellants (Including 5% Interest from Date of Payment xxxxxxxxxxClosed to Results of Operations (Portion of Appeal won by Municipality, including Interest) xxxxxxxxxx

Balance December 31, 2018 xxxxxxxxxx Taxes Pending Appeals* xxxxxxxxxx xxxxxxxxxx Interest Earned on Taxes Pending Appeals xxxxxxxxxx xxxxxxxxxx

*Includes State Tax Court and County Board of TaxationAppeals Not Adjusted by December 31, 2018

Signature of Tax Collector

License # Date

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SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENSDebit Credit

1. Balance January 1, 2018 727,552.48 xxxxxxxxxxA. Taxes 278,248.07 xxxxxxxxxx xxxxxxxxxxB. Tax Title Liens 449,304.41 xxxxxxxxxx xxxxxxxxxx

2. CancelledA. Taxes xxxxxxxxxx 4,720.54B. Tax Title Liens xxxxxxxxxx

3. Transferred to Foreclosed Tax Title Liens:A. Taxes xxxxxxxxxxB. Tax Title Liens xxxxxxxxxx

4. Added Taxes 11,334.91 xxxxxxxxxx5. Added Tax Title Liens xxxxxxxxxx6. Adjustment between Taxes (Other than current year)

A. Taxes - Transfers to Tax Title Liens xxxxxxxxxx 70,529.11B. Tax Title Liens - Transfers from Taxes 70,529.11 xxxxxxxxxx

7. Balance Before Cash Payments xxxxxxxxxx 734,166.858. Totals 809,416.50 809,416.509. Collected: xxxxxxxxxx 275,955.30

A. Taxes 168,128.80 xxxxxxxxxx xxxxxxxxxxB. Tax Title Liens 107,826.50 xxxxxxxxxx xxxxxxxxxx

10. Interest and Costs - 2018 Tax Sale 13,031.59 xxxxxxxxxx11. 2018 Taxes Transferred to Liens 163,537.46 xxxxxxxxxx12. 2018 Taxes 403,830.32 xxxxxxxxxx13. Balance December 31, 2018 xxxxxxxxxx 1,038,610.92

A. Taxes 450,034.85 xxxxxxxxxx xxxxxxxxxxB. Tax Title Liens 588,576.07 xxxxxxxxxx xxxxxxxxxx

14. Totals 1,314,566.22 1,314,566.2215. Percentage of Cash Collections to

Adjusted Amount Outstanding(Item No. 9 divided by Item No. 7) is 37.5875

16. Item No. 14 multiplied by percentage shown above is 390,387.88 and represents the maximum amount that may be anticipated in 2019.(See Note A on Sheet 22 - Current Taxes)(1) These amounts will always be the same.

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SCHEDULE OF FORECLOSED PROPERTY(PROPERTY ACQUIRED BY TAX TITLE LIEN LIQUIDATION)

Debit CreditAdjustment to Assessed Valuation (Credit)Adjustment to Assessed Valuation (Debit)Balance January 1, CY (Debit) 2,776,200.00Foreclosed or Deeded in CY: Tax Title Liens (Debit)Foreclosed or Deeded in CY: Taxes Receivable (Debit)Sales: Cash* (Credit) 40,783.32Sales: Contract (Credit)Sales: Gain on Sales (Debit)Sales: Loss on Sales (Credit) 1,101,116.68Sales: Mortgage (Credit)Balance December 31, 2018 xxxxxxxxxx 1,634,300.00

2,776,200.00 2,776,200.00

CONTRACT SALESDebit Credit

Balance January 1, CY (Debit) 0.00Collected * (Credit)CY Sales from Foreclosed Property (Debit)Balance December 31, 2018 xxxxxxxxxx

MORTGAGE SALESDebit Credit

Balance January 1, CY (Debit) 0.00Collected * (Credit)CY Sales from Foreclosed Property (Debit)Balance December 31, 2018 xxxxxxxxxx

Analysis of Sale of Property: $40,783.32*Total Cash Collected in 2018Realized in 2018 BudgetTo Results of Operation 40,783.32

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DEFERRED CHARGES- MANDATORY CHARGES ONLY -

CURRENT, TRUST, AND GENERAL CAPITAL FUNDS(Do not include the emergency authorizations pursuant to

N.J.S.A. 40A:4-55, N.J.S.A. 40A:4-55.1 or N.J.S.A. 40A:4-55.13)

Caused By

Amount Dec. 31, 2017

per Audit Report

Amount in 2018 Budget

Amount Resulting from

2018Balance as at Dec. 31, 2018

Animal Control Fund $0.00 $ $ $Capital - Deferred Charges Unfunded

$ $ $ $0.00

Deficit from Operations $0.00 $ $0.00 $0.00Trust Assessment $0.00 $ $ $Trust Other $0.00 $ $ $

Subtotal Current Fund $0.00 $ $0.00 $0.00Subtotal Trust Fund $0.00 $ $ $Subtotal Capital Fund $0.00 $0.00 $0.00 $0.00

Total Deferred Charges $0.00 $0.00 $0.00 $0.00

EMERGENCY AUTHORIZATIONS UNDER N.J.S.A. 40A:4-47 WHICH HAVE BEEN FUNDED OR REFUNDED UNDER N.J.S.A. 40A:2-3 OR

N.J.S.A. 40A:2-51

Date Purpose Amount$

JUDGEMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED

In Favor Of On Account Of Date Entered Amount

Appropriated for in Budget of Year

2019$

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N.J.S.A. 40A:4-53 SPECIAL EMERGENCY - TAX MAP; REVALUATION; MASTER PLAN; REVISION AND CODIFICATION OF ORDINANCES; DRAINAGE MAPS FOR FLOOD CONTROL; PRELIMINARY ENGINEERING STUDIES, ETC. FOR SANITARY SEWER SYSTEM; MUNICI- PAL CONSOLIDATION ACT; FLOOD OR HURRICANE DAMAGE.

Reduced in 2018Date Purpose Amount

Authorized

Not Less Than 1/5 of Amount

Authorized*

Balance Dec. 31, 2017 By 2018 Budget Cancelled by

Resolution

Balance Dec. 31, 2018

Totals

It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S.A. 40A:4-53 et seq. and are recorded on this page.

Chief Financial Officer

* Not less than one-fifth (1/5) of amount authorized but not more than the amount shown in the column Balance Dec. 31, 2018 must be entered here and then raised in the 2019 budget.

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N.J.S.A. 40A:4-55.1, ET SEQ., SPECIAL EMERGENCY - DAMAGE CAUSED TO ROADS/BRIDGES BY SNOW, ICE, FROST OR FLOODN.J.S.A. 40A:4-55.13, ET SEQ., SPECIAL EMERGENCY - PUBLIC EXIGENCIES CAUSED BY CIVIL DISTURBANCES

Reduced in 2018Date Purpose Amount

Authorized

Not Less Than 1/3 of Amount

Authorized*

Balance Dec. 31, 2017 By 2018 Budget Cancelled by

Resolution

Balance Dec. 31, 2018

Totals

It is hereby certified that all outstanding "Special Emergency" appropriations have been adopted by the governing body in full compliance with N.J.S.A. 40A:4-55 et seq. and N.J.S.A 40A:4-55.13 et seq. are recorded on this page.

Chief Financial Officer

* Not less than one-third (1/3) of amount authorized but not more than the amount shown in the column Balance Dec. 31, 2018 must be entered here and then raised in the 2019 budget.

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SCHEDULE OF BONDS ISSUED AND OUTSTANDINGAND 2019 DEBT SERVICE FOR BONDS

MUNICIPAL GENERAL CAPITAL BONDS

Debit Credit 2019 Debt ServiceCancelled (Debit)Issued (Credit)Outstanding January 1, CY (Credit) 0.00Paid (Debit)Outstanding Dec. 31, 2018 xxxxxxxxxx

2019 Bond Maturities – General Capital Bonds $2019 Interest on Bonds

ASSESSMENT SERIAL BONDSIssued (Credit)Outstanding January 1, CY (Credit) 0.00Paid (Debit)Outstanding Dec. 31, 2018 xxxxxxxxxx

2019 Bond Maturities – General Capital Bonds $2019 Interest on Bonds

LIST OF BONDS ISSUED DURING 2018Purpose 2019 Maturity Amount Issued Date of

IssueInterest

Rate

Total

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SCHEDULE OF LOANS ISSUED AND OUTSTANDING

AND 2019 DEBT SERVICE FOR LOANSMUNICIPAL GREEN ACRES TRUST LOAN

Debit Credit 2019 Debt ServiceIssued (Credit)Outstanding January 1, CY (Credit) 0.00Paid (Debit)Outstanding Dec. 31,2018 xxxxxxxxxxx

2019 Loan Maturities $2019 Interest on Loans $Total 2019 Debt Service for Loan $

GREEN ACRES TRUST LOANIssued (Credit)Outstanding January 1, CY (Credit) 0.00Paid (Debit)Outstanding Dec. 31,2018 xxxxxxxxxx

2019 Loan Maturities $2019 Interest on Loans $Total 2019 Debt Service for Loan $

LIST OF LOANS ISSUED DURING 2018Purpose 2019 Maturity Amount Issued Date of

IssueInterest

Rate

Total

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SCHEDULE OF LOANS ISSUED AND OUTSTANDINGAND 2018 DEBT SERVICE FOR LOANS

Debit Credit Debt ServiceOutstanding January 1, XXXXXXXXIssued XXXXXXXX

Paid XXXXXXXXOutstanding December 31, XXXXXXXX Loan Maturities $ Interest on Loans $Total Debt Service for Loan

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SCHEDULE OF BONDS ISSUED AND OUTSTANDING

AND 2019 DEBT SERVICE FOR BONDSTYPE I SCHOOL TERM BONDS

Debit Credit 2019 Debt ServiceOutstanding January 1, CY (Credit) 0.00Paid (Debit)Outstanding Dec. 31, 2018 xxxxxxxxxx

2019 Bond Maturities – Term Bonds $2019 Interest on Bonds $

TYPE I SCHOOL SERIAL BONDIssued (Credit)Outstanding January 1, CY (Credit) 0.00Paid (Debit)Outstanding Dec. 31, 2018 xxxxxxxxxx

2019 Interest on Bonds2019 Bond Maturities – Serial BondsTotal “Interest on Bonds – Type 1 School Debt Service”

LIST OF BONDS ISSUED DURING 2018Purpose 2019 Maturity -01 Amount Issued -02 Date of

IssueInterest

Rate

Total

2019 INTEREST REQUIREMENT – CURRENT FUND DEBT ONLYOutstanding

Dec. 31, 20182019 Interest Requirement

$ $

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DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES)

2019 Budget RequirementTitle or Purpose of Issue Original Amount

IssuedOriginal Date of

Issue

Amount of Note Outstanding

Dec. 31, 2018Date of Maturity Rate of Interest For Principal For Interest

Interest Computed to (Insert Date)

17-583 Funding of an Emergency Appropriation for Road and Drainage Repairs 285,000.00 4/26/2018 285,000.00 4/26/2019 2.23 35,625.00 6,352.65 4/26/201918-587 Construction of Veterans' Memorial Park 95,000.00 4/26/2018 95,000.00 4/26/2019 2.23 11,875.00 2,117.55 4/26/201908-495 Various Capital Improvements 290,700.00 4/17/2008 32,500.00 4/26/2019 2.23 32,500.00 724.43 4/26/201911-520 Various Capital Improvements 380,000.00 8/17/2011 202,000.00 4/26/2019 2.23 50,000.00 4,502.58 4/26/201911-524 Purchase of Building Generator, Engineering Fees, Purchase of a 2 Yard Dump Truck and Road Repairs 142,500.00 8/17/2012 98,500.00 4/26/2019 2.23 20,000.00 2,195.57 4/26/201911-525 Road and Drainage Improvements 142,500.00 8/17/2012 103,500.00 4/26/2019 2.23 21,000.00 2,307.02 4/26/201915-566 Acquisition and Renovation of Certain Property 114,000.00 5/2/2016 91,200.00 4/26/2019 2.23 11,400.00 2,032.85 4/26/201916-577 Acquisition of a Side-Arm Tractor 114,000.00 4/27/2017 91,200.00 4/26/2019 2.23 11,400.00 2,032.85 4/26/201916-578 Installation of Street Lighting in Haleyville 123,500.00 4/27/2017 98,800.00 4/26/2019 2.23 12,350.00 2,202.25 4/26/2019

1,687,200.00 xxxxxxxxxx 1,097,700.00 xxxxxxxxxx xxxxxxxxxx 206,150.00 24,467.75 xxxxxxxxxx

Memo: Type I School Notes should be separately listed and totaled.Memo: Refunding Bond Anticipation Notes should be separately listed and totaled.* " Original Date of Issue" refers to the date when the first money was borrowed for a particular improvement, not the renewal date of subsequent notes which were issued.All notes with an original date of issue of 2016 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2019 or written intent of permanent financing submitted with statement.

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** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column.

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DEBT SERVICE SCHEDULE FOR ASSESSMENT NOTES2019 Budget Requirement

Title or Purpose of Issue Original Amount Issued

Original Date of Issue

Amount of Note

Outstanding Dec. 31, 2018

Date of Maturity Rate of Interest For Principal For Interest


xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx xxxxxxxxxx

Assessment Notes with an original date of issue of December 31, 2016 or prior must be appropriated in full in the 2019 Dedicated Assessment Budget or written intent of permanent financing submitted with statement.**Interest on Assessment Notes must be included in the Current Fund Budget appropriation "Interest on Notes".(Do not crowd - add additional sheets)

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SCHEDULE OF CAPITAL LEASE PROGRAM OBLIGATIONS

2019 Budget RequirementPurpose Amount of Obligation Outstanding Dec. 31, 2018 For Principal For Interest/Fees

Leases approved by LFB after July 1, 2007

SubtotalLeases approved by LFB prior to July 1, 2007

SubtotalTotal

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SCHEDULE OF IMPROVEMENT AUTHORIZATIONS (GENERAL CAPITAL FUND)

Balance – January 1, 2018 Balance – December 31, 2018IMPROVEMENTSSpecify each authorization by purpose.

Do not merely designate by a code number

Funded Unfunded2018

Authorizations

Refunds, Transfers, &

EncumbrancesExpended Authorizations

Canceled Funded Unfunded

18-587 Construction of Veterans' Memorial Park

100,000.00 66,241.76 33,758.24

18-591 Laurel Lake Drainage Phase III Supplement #1

13,226.55 13,226.55

18-593 Laurel Lake Drainage Improvement Phase III Supplemental #2

19,000.00 19,000.00

18-590 Purchase of A Vehicle 7,382.43 7,382.4304-455 Various General Improvements 4,010.00 0.00 4,010.0011-524 Purchase of a Building Generator, Engineering Fees, Purchase of a 2 Yard Dump Truck and Road Repairs

0.00 4,612.87 4,612.87

13-544 Library Renovation 396.00 0.00 396.0016-577 Acquisition of a Side-Arm Tractor

0.00 7,350.00 1,567.97 5,782.03

17-581 / 17-582 Various Repairs to Buildings and Grounds

1,085.00 0.00 1,085.00

17-583 Funding of an Emergency Appropriation for Road and Drainage Repairs

0.00 47,260.00 52,454.85 92,975.09 6,739.75

Total 5,491.00 59,222.87 139,608.98 52,454.85 181,393.80 0.00 24,491.00 50,892.89

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GENERAL CAPITAL FUNDSCHEDULE OF CAPITAL IMPROVEMENT FUND

Debit CreditAppropriated to Finance Improvement Authorizations (Debit) 37,226.55Balance January 1, CY (Credit) 73,337.24Improvement Authorizations Canceled (financed in whole by the Capital Improvement Fund) (Credit)Received from CY Budget Appropriation * (Credit) 50,000.00Balance December 31, 2018 86,110.69 xxxxxxxxxx

123,337.24 123,337.24

* The full amount of the 2018 budget appropriation should be transferred to this account unless the balance of the appropriation is to be permitted to lapse.

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GENERAL CAPITAL FUNDSCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS

Debit CreditAppropriated to Finance Improvement Authorizations (Debit)Balance January 1, CY (Credit) 0.00Received from CY Budget Appropriation * (Credit)Received from CY Emergency Appropriation * (Credit)Balance December 31, 2018 xxxxxxxxxx

*The full amount of the 2018 appropriation should be transferred to this account unless the balance of the appropriation is permitted to lapse.

CAPITAL IMPROVEMENTS AUTHORIZED IN 2018AND DOWN PAYMENTS (N.J.S.A. 40A:2-11)

GENERAL CAPITAL FUND ONLY

Purpose Amount Appropriated

Total Obligations Authorized

Down Payment Provided by Ordinance

Amount of Down Payment in

Budget of 2018 or Prior Years

Ord 18-587 Construction of Veterans' Memorial park 100,000.00 95,000.00 5,000.00 5,000.00Total 100,000.00 95,000.00 5,000.00 5,000.00

NOTE - Where amount in column "Down Payment Provided by Ordinance" is LESS than 5% of amount in column "Total Obligations Authorized", explanation must be made part of or attached to this sheet.

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GENERAL CAPITAL FUNDSTATEMENT OF CAPITAL SURPLUS

YEAR – 2018

Debit CreditAppropriated to CY Budget Revenue (Debit)Appropriated to Finance Improvement Authorizations (Debit)Balance January 1, CY (Credit) 9,289.06Funded Improvement Authorizations Canceled (Credit)Miscellaneous - Premium on Sale of Serial Bonds (Credit)Premium on Sale of Bonds (Credit)Balance December 31, 2018 9,289.06 xxxxxxxxxx

9,289.06 9,289.06

BONDS ISSUED WITH A COVENANT OR COVENANTS

1. Amount of Serial Bonds Issued Under Provisions of Chapter 233,P.L. 1944, Chapter 268, P.L. 1944, Chapter 428, P.L. 1943 or Chapter 77, Article VI-A, P.L. 1945, with Covenant or Covenants; Outstanding December 31, 2018

2. Amount of Cash in Special Trust Fund as of December 31, 2018(Note A)

3. Amount of Bonds Issued Under Item 1 Maturing in 2019

4. Amount of Interest on Bonds with aCovenant - 2019 Requirement

5. Total of 3 and 4 - Gross Appropriation6. Less Amount of Special Trust Fund to be Used7. Net Appropriation Required

NOTE A - This amount to be supported by confirmation from bank or banksFootnote: Any formula other than the one shown above and required to be used by covenant or covenants is to be attached here to item 5 must be shown as an item of appropriation, short extended, with Item 6 shown directly following as a deduction and with the amount of Item 7 extended into the 2019 appropriation column.

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MUNICIPALITIES ONLYIMPORTANT!

This Sheet Must Be Completely Filled in or the Statement Will Be Considered Incomplete(N.J.S.A.52:27BB-55 as Amended by Chap. 211, P.L 1981)

A.1. Total Tax Levy for the Year 2018 was 7,364,549.582. Amount of Item 1 Collected in 2018 (*) 6,702,704.373. Seventy (70) percent of Item 1 5,155,184.71(*) Including prepayments and overpayments applied.

B.1. Did any maturities of bonded obligations or notes fall due during the year 2018?Answer YES or NO: Yes2. Have payments been made for all bonded obligations or notes due on or before December 31, 2018?Answer YES or NO: YesIf answer is “NO” give details

NOTE: If answer to Item B1 is YES, then Item B2 must be answered

C.Does the appropriation required to be included in the 2019 budget for the liquidation of all bonded obligations or notes exceed 25% of the total of appropriations for operating purposes in thebudget for the year just ended?Answer YES or NO: No

D.1. Cash Deficit 2017 0.002. 4% of 2017 Tax Levy for all purposes: Levy3. Cash Deficit 20184. 4% of 2018 Tax Levy for all purposes: Levy 0.00

E.Unpaid 2017 2018 Total

1. State Taxes $0.00 $ $2. County Taxes $0.00 $4,047.32 $4,047.323. Amounts due Special Districts $0.00 $0.00 $0.004. Amounts due School Districts for Local School Tax $0.00 $240,744.50 $240,744.50

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UTILITIES ONLY

Note:If no "utility fund" existed on the books of account and if no utility was owned and operated by the municipality during the year ,

please observe instructions of Sheet 2.

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Balance Sheet - Utility Operating Fund AssetsAS OF DECEMBER 31,

Cash:

Investments:

Accounts Receivable:

Interfunds Receivable:

Deferred Charges

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Balance Sheet - Utility Operating Fund Liabilities, Reserves & Fund BalanceAS OF DECEMBER 31,

Liabilities:

Fund Balance:

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Balance Sheet - Utility Capital Fund AssetsAS OF DECEMBER 31,

Cash:

Accounts Receivable:

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Balance Sheet - Utility Capital Fund Liabilities, Reserves & Fund BalanceAS OF DECEMBER 31,

Liabilities:

Fund Balance:

Estimated Proceeds Bonds and Notes & Bonds and Notes Authorized but not issued:

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Balance Sheet - Utility Assessment FundAS OF DECEMBER 31,

Assets:

Liabilities and Reserves:

Liabilities, Reserves, and Fund Balance:

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Analysis of Utility Assessment Trust Cash and InvestmentsPledged to Liabilities and Surplus

ReceiptsTitle of Liability to which Cash and Investments are Pledged

Audit Balance Dec. 31, Assessments and

Liens Operating Budget Other Disbursements Balance Dec. 31,

Assessment Serial Bond Issues:

Assessment Bond Anticipation Notes

Other Liabilities

Trust Surplus

Less Assets “Unfinanced”

Total

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Schedule of Utility Budget - Budget Revenues

Source Budget Received in Cash Excess or DeficitOperating Surplus Anticipated Operating Surplus Anticipated with Consent of Director of Local Govt. ServicesRentsMiscellaneous Revenue AnticipatedMiscellaneous

Added by N.J.S.A. 40A:4-87: (List)

Subtotal Additional Miscellaneous RevenuesSubtotalDeficit (General Budget)

Statement of Budget Appropriations

Appropriations

Total AppropriationsAdd: Overexpenditures

Total OverexpendituresTotal Appropriations & Overexpenditures Deduct Expenditures

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Surplus

Total SurplusTotal Expenditure & SurplusUnexpended Balance Cancelled

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Statement of Operation Utility

NOTE: Section 1 of this sheet is required to be filled out ONLY IF the budget year Utility Budget contained either an item of revenue “Deficit (General Budget)” or an item of appropriation “Surplus (General Budget)”Section 2 should be filled out in every case.

Section 1:Revenue RealizedMiscellaneous Revenue Not Anticipated Appropriation Reserves Canceled

Total Revenue RealizedExpendituresExpended Without AppropriationCash Refund of Prior Year's RevenueOverexpenditure of Appropriation ReservesTotal ExpendituresLess: Deferred Charges Included in Above "Total Expenditures"Total Expenditures - As Adjusted

ExcessBalance of "Results of 2017 Operation"Remainder= ("Excess in Operations")DeficitBalance of "Results of 2017 Operation" Remainder= ("Operating Deficit - to Trial Balance")

Section 2:The following Item of Appropriation Reserves Canceled in Is Due to the Current Fund TO THE EXTENT OF the amount Received and Due from the General Budget of for an Anticipated Deficit in the Utility for:

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Appropriation Reserves Canceled in Less: Anticipated Deficit in Budget - Amount Received and Due from Current Fund - If none, check "None" ☐ *Excess (Revenue Realized)

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Results of Operations – Utility

Debit Credit

Operating ExcessOperating DeficitTotal Results of Current Year Operations

Operating Surplus– Utility

Debit Credit

Balance December 31, Total Operating Surplus

Analysis of Balance December 31, (From Utility – Trial Balance)

CashInvestmentsInterfund Accounts ReceivableSubtotalDeduct Cash Liabilities Marked with "C" on Trial BalanceOperating Surplus Cash or (Deficit in Operating Surplus Cash)Other Assets Pledged to Operating Surplus*Deferred Charges #Operating Deficit #Total Other Assets

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Schedule of Utility Accounts Receivable

Balance December 31,

Increased by:Rents Levied

Decreased by:CollectionsOverpayments appliedTransfer to Utility LienOther


Schedule of Utility Liens


Increased by:Transfers from Accounts ReceivablePenalties and CostsOther

Decreased by:CollectionsOther


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Deferred Charges- Mandatory Charges Only -

Utility Fund(Do not include the emergency authorizations pursuant to N.J.S.A. 40A:4-55)

Caused by Amount Dec. 31, per Audit Report Amount in Budget Amount Resulting from Balance as at Dec. 31,

Total Operating

Total Capital

*Do not include items funded or refunded as listed below.

Emergency Authorizations Under N.J.S.A. 40A:4-47 Which Have BeenFunded or Refunded Under N.J.S.A. 40A:2-3 OR N.J.S.A. 40A:2-51

Date Purpose Amount

Judgements Entered Against Municipality and Not Satisfied

In Favor Of On Account Of Date Entered Amount Appropriated for in Budget of Year

Schedule of Bonds Issued and Outstanding

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and Debt Service for Bonds UTILITY ASSESSMENT BONDS

Debit Credit Debt Service

Outstanding December 31,

Bond Maturities – Assessment Bonds Interest on Bonds

Utility Capital BondsDebit Credit Debt Service

Outstanding December 31,

Bond Maturities – Assessment Bonds Interest on Bonds

Interest on Bonds – Utility Budget Interest on Bonds (*Items)Less: Interest Accrued to 12/31/ (Trial Balance)SubtotalAdd: Interest to be Accrued as of 12/31/Required Appropriation

List of Bonds Issued During Purpose Maturity Amount Issued Date of Issue Interest Rate

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Schedule of Loans Issued and Outstandingand Debt Service for Loans

UTILITY LOAN

Loan Outstanding January 1, Issued Paid Other

Description Other Debit Other Credit Outstanding December 31, Loan Maturities Interest on Loans

Interest on Loans – Utility Budget

Interest on Loans (*Items)Less: Interest Accrued to 12/31/ (Trial Balance)SubtotalAdd: Interest to be Accrued as of 12/31/Required Appropriation

List of Loans Issued During

Purpose Maturity Amount Issued Date of Issue Interest Rate

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Debt Service Schedule for Utility Notes (Other than Utility Assessment Notes)

Budget RequirementTitle or Purpose of the Issue Original Amount


Issue

Amount of Note Outstanding Dec.

31,

Date of Maturity

Rate of Interest For Principal For Interest

Date Interest Computed to

INTERST ON NOTES – UTILITY BUDGET Interest on NotesLess: Interest Accrued to 12/31/ (Trial Balance)SubtotalAdd: Interest to be Accrued as of 12/31/

Important: If there is more than one utility in the municipality, identify each note.

All notes with an original date of issue of or prior require one legal payable installment to be budgeted if it is contemplated that such notes will be renewed in or written intent of permanent financing submitted.** If interest on note is financed by ordinance, designate same, otherwise an amount must be included in this column. Required Appropriation -

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Debt Service Schedule for Utility Assessment Notes

Budget RequirementTitle or Purpose of Issue Original Amount


Issue

Amount of Note Outstanding Dec.

31,

Date of Maturity

Rate of Interest For Principal For Interest


Important: If there is more than one utility in the municipality, identify each note. Utility Assessment Notes with an original date of issue of December 31, or prior require one legally payable installment to be budgeted in the Dedicated Utility Assessment Budget if it is contemplated that such notes will be renewed in or written intent of permanent financing submitted with statement.** Interest on Utility Assessment Notes must be included in the Utility Budget appropriation "Interest on Notes".

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Schedule of Capital Lease Program Obligations

Budget RequirementPurpose Amount of Obligation Outstanding Dec. 31, For Principal For Interest/Fees

Leases approved by LFB after July 1, 2007

SubtotalLeases approved by LFB prior to July 1, 2007

SubtotalTotal

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Schedule of Improvement Authorizations (Utility Capital Fund)

Balance - January 1, Balance December 31, IMPROVEMENTSSpecify each authorization by

purpose. Do not merely designate by a code number

Funded Unfunded Authorizations

Refunds, Transfers and Encumbrances Expended Authorizations

Canceled Funded Unfunded

Total

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Utility Capital FundSCHEDULE OF CAPITAL IMPROVEMENT FUND

Debit Credit


Utility Capital FundSCHEDULE OF DOWN PAYMENTS ON IMPROVEMENTS

Debit Credit


*The full amount of the appropriation should be transferred to this account unless the balance of the appropriation is permitted to lapse.

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Utility FundCAPITAL IMPROVEMENTS AUTHORIZED IN

ANDDOWN PAYMENTS (N.J.S. 40A:2-11)

UTILITIES ONLY

Purpose Amount Appropriated Total Obligations Authorized

Down Payment Provided by Ordinance

Amount of Down Payment in Budget of

or Prior Years

Utility Capital FundStatement of Capital Surplus

YEAR

Debit Credit


annual financial statement for the year 2018 …€¦ · page 1 of 76 annual financial statement...

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