ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2010 (UNAUDITED)

Transcription

1 ANNUAL FINANCIAL STATEMENT FOR THE YEAR 2010 (UNAUDITED) POPULATION LAST CENSUS 15,824 NET VALUATION TAXABLE ,290,419,754 MUNICODE 1408 FIVE DOLLARS PER DAY PENALTY IF NOT FILED BY: COUNTIES - JANUARY 26, 2011 MUNICIPALITIES - FEBRUARY 10, 2011 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 D~e=n~v=ill=e~,Coun~of =M=o=IT==is~ SEE BACK COVER FOR INDEX AND INSTRUCTIONS. DO NOT USE THESE SPACES Date Examined By: 1 2 Preliminary Check 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 Raymond Sarinelli of Nisivoccia LLP Registered Municipal Accountant (This MUST be signed by Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.) REQUIRED CERTIFICATION BY ClllEF FINANCIAL OFFICER: I hereby certify that I am responsible for filing tltis verified Annual Financial Statement, (,,"ie" I " e plepa.ee) or (which I have not prepared) [elimih.te 6He] 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 tltis 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 Marie Goble, am the Chief Financial Officer, License # N-0071, of the Township Denville, County of Morris and that the statements annexed hereto and made a part hereof are true statements of the fmancial condition of the Local Unit as at December 31,2010, completely in compliance with N.J.S. 40A:5-12, as amended. I also give complete assurance as to the veraci~ 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 31,2010. of Signature Title Chief Financial Officer Address 1 Saint Mary's Place, Denville New Jersey Phone Number (973) Ext. 222 Fax Number (973) 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 REPRESENATTIONS AND ASSERTIONS MADE HEREIN. Sheet 1

2 THE REQUIRED CERTIFICATION BY AN RMA IS AS FOLLOWS: Preparation by Registered Municipal Accountant (Statement of Statutory Auditor Ouly) 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 Denville as of December 31, 2010 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. 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 agreedupon procedures, (exeept fef etfelthlstallees as set faflh belaw, fia lfltttteis1 or (no matters) [elimifiate aile 1 came to my attention that caused me to believe that the Annual Financial Statement for the year ended 2010 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 corne to my attention that would have been reported to the governing body and the Division. This Annual Financial Statement relates ouly 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: NONE Certified by me this day of, Raymond Sarinelli (Registered Municipal Accountant) Nisivoccia LLP (Firm Name) Mount Arlington Corporate Center (Address) 200 Valley Road Suite 300 (Address) Mount Arlington, New Jersey (Address) rsarinelli@nisivoccia.com ( ) (Phone Number) (Fax Number) Sheet la

3 UNIFORM CONSTRUCTION CODE CERTIFICATION BY CONSTRUCTION CODE OFFICIAL The undersigned certifies that the municipality has complied with the regulations governing revenues generated by uniform construction code fees and expenditures for construction code operations for fiscal year 2010 as required undern.j.a.c.5: Printed Name: Signature: Certificate #: Date: Sheet Ib

4 MUNICIPAL BUDGET LOCAL EXAMINATION QUALIFICATION CERTIFICATION BY 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 exess 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 eqnal or exceed 4 % of the total tax levy; 5. There were no "procedural deficiencies" noted by the registered municipal accountant on Sheet 1 a of the Annual Financial Statement; and 6. 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 an appropriation or levy "CAP" Waiver". 10. The municipality will not apply for Transitional Aid for The undersigned certifies that this municipality has complied 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: Municipality: Chief Financial Officer: Township of Denville Marie Goble Signature: Certificate #: N-0071 Date: CERTIFICATION OF NON-QUALIFYING MUNICIPALITY The undersigned certifies that this municipality does not meet item(s) "'# of the criteria above and therefore does not qualify for local examination of its Budget in accordance with N.J.A.C. 5: Municipality: Chief Financial Officer: Signature: Certificate #: Date: Sheet Ie

5 Fed I.D. # Township of Denville Municipality Morris County Report of Federal and State Financial Assistance Expenditure of Awards Fiscal Year Ending: 12/ (1) Federal programs Expended (admjnistered by the state) (2) State Programs Expended (3) Other Federal Programs Expended TOTAL $ 191, $ 222, $ -0- Type of Audit required by OMB A-133 and OMB 04-04: Single Audit Program Specific Audit X 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 A-133 (Revised June 27,2003) and OMB The single audit threshold has been increased to $500,000 beginning with Fiscal Year ending after 12/31/03. Expenditures are defined in Section 205 of OMB A-133 (1) Report expenditures from federal pass-through programs received directly from state government. 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 government. Signature of Chief Financial Officer Date Sheet Id

6 IMPORTANT! READ INSTRUCTIONS INSTRUCTION The following certification is to be used ONLY in the event there is NO municipally 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 of County of during the year 2010 and that sheets 40 to 68 are unnecessary. I have therefore removed from this statement the sheets pertaining only to utilities Name~N~/A~ Title Registered Municipal Accountant (This must be signed by the Chief Financial Officer, Comptroller, Auditor or Registered Municipal Accountant.) NOTE: When removing the utility sheets, please be sure to refasten the "index" sheet (the last sheet in the statement) in order to provide a protective cover sheet to the back of the document. MUNICIPAL CERTIFICATION OF TAXABLE PROPERTY AS OF OCTOBER 1, 2010 Certification is hereby made that the Net Valuation Taxable of property liable to taxation for the tax year 2010 and filed with the County Board of Taxation on January 10, 2011 in accordance with the requirement ofn.j.s.a. 54:4-35, was in the amount of $ SIGNATURE OF TAX ASSESSOR Township of Denville MUNICIPALITY Morris COUNTY Sheet 2

7 NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET POST CLOSING TmALBALANCE-CURRENTFUND AS AT DECEMBER 31,2010 Cash Liabilides Must Be Subtotaled and Subtotal Must be Marked with "c" - - Taxes Receivable Must Be Subtotaled Title of Account Debit Cash and Cash Equivalents 6,812, Due from State of NJ - Veterans & Senior Citzens 18, Receivables Offset by Reserve: Taxes Receivable 689, Tax Title Liens 576, ,266, Property Acquired for Taxation 546, Revenue Accounts Receivable 167, Trash Collection Fees Receivable 148, Due from Other Trust Funds ,129, ,960, (Do not crowd - add additional sheets) Sheet 3

8 NOTE THAT A TRIAL BALANCE IS REQUIRED AND NOT A BALANCE SHEET POST CLOSING TRIAL BALANCE - CURRENT FUND (CONT'D) AS AT DECEMBER 31,2010 Cash Liabilities Must Be Subtotaled and Subtotal Must be Marked with "e ff - - Taxes Receivable Must Be Subto/aled Title of Account Debit Appropriation Reserves: Encumbered 422, Unencumbered 808, ,231, Tax Overpayments 46, Accounts Payable 4, Prepaid Taxes 298, Third Party Tax Title Liens Tax Sale Premiums 165, Due to State of New Jersey: Building Surcharge Fees 5, Due to County of Morris - Added and Omitted Taxes 20, Due to General Capital Fund 30, Reserve for Pending Tax Appeals 375, Reserve for Revaluation of Real Property 16, Reserve for Forfeited Bail 8, Unappropriated Grant Reserves 98, ,300, "e" Reserve for Receivables 2,129, Fund Balance 4,530, ,960, (Do not crowd - add additional sheets) Sheet 3a

9 POST CLOSING TRIAL BALANCE - PUBLIC ASSISTANCE FUND ACCOUNTS #1 AND #2* AS AT DECEMBER 31,2010 Title of Account Debit Cash and Cash Equivalents 54, Reserve for Public Assistance Expenditures 54, , , (Do not crowd - add additional sheets) * To be prepared in compliance with Department of Human Services Municipal Audit Guide, Public Welfare, General Assistance Program. Sheet 4

10 POST CLOSING TRIAL BALANCE - FEDERAL AND STATE GRANTS AS AT DECEMBER 31,2010 Title of Account Debit (Do not crowd - add additional sheets) Sheet 5 N/A

11 POST CLOSING TRlALBALANCE-TRUSTFUNDS (Assessment Section Must Be Separately Stated) AS AT DECEMBER 31,2010 Title of Account Debit Animal Control Fund: Cash and Cash Equivalents 76, Due to Other Trust Funds Reserve for Animal Control Fund Expenditures 27, , , , Trust Assessment Fund: Due From Sewer Utility Assessment Fund 1, Fund Balance 1, , , (Do not crowd - add additional sheets) Sheet 6

12 POST CLOSING TRIAL BALANCE - TRUST FUNDS (Assessment Section Must Be Separately Stated) AS AT DECEMBER 31,2010 Title of Account Debit Other Trusts: Cash and Cash Equivalents 3,754, Due from Animal Control Trust Fund 27, Due to Current Fund Due to General Capital Fund , Reserve for: Open Space Trust Developers Escrow Developers Fees - Affordable Housing Planning and Zoning Deposits Misc Deposits - Mayor's Special Trust for Needy Site Engineering Fees Special Deposits - Performance Guarantee POAAFunds Road Openings Tree Harvesting Junior Police Academy Denville Television Snow Removal Accrued Sick and Vacation Unemployment Compensation Fund Community Park Community Police Donations Tsunami Recovery Animal Park Donations Police Outside Service Recreation - General Recreation - Cook's Pond Norman Dean Beautification Donation 626, , ,344, , , , , , , , , , , , , , , , , , , , ,782, ,782, (Do not crowd - add additional sheets) Sheet 6.1

13 MUNICIPAL PUBLIC DEFENDER. CERTIFICATION Public Law 1998, C. 256 Municipal Public Defender Expended Prior Year 2009: (I) $ (2) $ x 25% Municipal Public Defender Trust Cash Balance December 31, 2010:.... (3) $ Note: If the amount of money in a dedicated fund established pursuant to this section exceeds by more than 25% the amount which the municipality expended during the prior year providing the services of a municipal public defender, the amount in excess of the amount expended shall be forwarded to the Criminal Disposition and Review Collection Fund administered by the Victims of Crime Compensation Board. (P.O. Box 084, Trenton, NJ 08625) Amount in excess of the amount expended: 3- (I + 2) = $ The undersigned certifies that the municipality has complied with the regulations governing Municipal Public Defender as required under Public Law 1998, C Chief Financial Officer: Marie Goble Signature: Certificate #: N 0071 Date: The Township of Denville has chosen to pay all Public Defender fees through the Current Budget and does not maintain any balance in the Trust Funds. Sheet 6a N/A

14 Schedule of Trust Reserves Amount Dec. 31, 2009 per Audit Balance Purpose Report Receipts Disbursements Dec. 31, 2010 I. Open Space Trust 340, , , , Developers Escrow 408, , , , Developers Fees - Affordable Housing 1,217, , , ,344, Planning and Zoning Deposits 34, , , , Mise Deposits - Mayor's Special Trust 10, , , , Site Engineering Fees 31, , Special Deposits - Perfonnance 65, , POAA Funds 3, , Road Openings 10, , Tree Harvesting 1, , Denville Television 39, , Snow Removal 278, , , , Accrued Sick and Vacation 588, , , , Unemployment Compensation 55, , , , Community Park 20, , Community Police Donations Nannan Dean Beautification 8, , Police Outside Service 12, , , , Recreation - General 32, , , , Recreation - Cook's Pond 10, , , , I. Junior Police Academy 10, , , , Tsunami Recovery 3, , , , Animal Park Donations 29, , , , Totals: 3,212, ,791, ,522, ,480, Sheet 6b

15 Sheet 6b

16 ANALYSIS OF TRUST ASSESSMENT CASH AND INVESTMENT PLEDGED TO LIABILITIES AND SURPLUS Title of Liability to which Cash Balance RECEIPTS and Investments are Pledged Dec. 31,2009 Assessments Current Interest on and Liens Budget Deposits Balance Disbursements Dec. 31,2010 Assessment Serial Bond Issues: :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx '" =-... '" -..I Assessment Bond Anticipation Note Issues: :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx Due Sewer Utility Assessment Fund (1,321.16) (1,321.16) Other Liabilities Trust Surplus 1, , Less Assets "Unfinanced" :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx :xxxxxxx -_

17 POST CLOSING TRIAL BALANCE - GENERAL CAPITAL FUND AS AT DECEMBER 31,2010 Title of Account Debit Est. Proceeds Bonds and Notes Authorized 1,027, XX Bonds and Notes Authorized but Not Issued XX 1,027, Cash and Cash Equivalents 1,163, Deferred Charges to Future Taxation: Funded 11,730, Unfunded 7,572, Grants Receivable 1,178, Due from Current Fund 30, Due from Other Trust Funds 301, Serial Bonds Payable Leases Payable Bond Anticipation Notes Payable 1,020, ,710, ,544, Improvement Authorizations: Funded Unfunded Capital Improvement Fund 1,204, ,951, , Reserve: To Pay Debt Service Police Pistol Range Flood Control Drainage Facilities - Savage Road Preliminary Expenses - Pedestrian Crosswalk South Shore Park Donations Fund Balance 271, , , , , , , ,003, ,003, (Do not crowd - add additional sheets) Sheet 8

18 CASH RECONCILIATION DECEMBER 31, 2010 I Cash * On Hand On Deposit Less Checks Outstanding CashBook Balance Current 368, ,446, , ,812, Trust - Assessment Trust - Dog License , , Trust - Other 3,758, , ,754, Capital - General 1,163, ,163, Water - Operating 467, , , Water - Capital 464, , Utility Assessment Trust Public Assistance ** , , Sewer Utility-Assessment Trust 514, , Sewer - Operating 340, ,508, ,848, Sewer - Capital 1,948, ,948, Total 1,177, ,386, , ,555, * Include Deposits in Transit ** Be sure to include Public Assistance Account reconciliation and trial balance if the municipality maintains such a bank account REQl1IRED 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 31,2009. 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, 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 I or I(a). Signature: Title: Registered Municipal Accountant Sheet 9

19 CASH RECONCILIATION DECEMBER 31,2010 (cont'd.) LIST BANKS AND AMOUNT SUPPORTING "CASH ON DEPOSIT" Current Fund First Morris Bank A/C# Provident A/C# , ,373, Total Current Fund 6,446, A:oimal Control Fund: Provident A/C# , Other Trust Funds: Bank of America Accutrack A/C# Bank of America Accutrack A/C# Bank of America Accutrack A/C# JPMorgan-Chase Bank A/C# Bank of America Accutrack A/C# Bank of America Accutrack A/C# Provident A/C# , , , ,344, , , ,213, Total Other Trust 3,758, General Capital Fund: Bank of America A/C# Provident A/C# , ,153, Total General Captial Fund 1,163, Water Utility Operating Fund: Provident A/C# , Note: Sections N.J.S. 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. Sheet9a

20 Water Utility Capital Fund: CASH RECONCILIATION DECEMBER 31,2010 (cont'd.) LIST BANKS AND AMOUNT SUPPORTING "CASH ON DEPOSIT" Provident A/C# , Public Assistance Trust Fund: Provident A/C# Provident A/C# , , Total Public Assistance Trust Fund 54, Sewer Utility Operating Fund: Provident A/C# ,508, Sewer Utility Capital Pund: Provident A/C# ,948, Sewer Utility Assessment Trust Fund: Provident A/C# , GRAND TOTAL 16,386, Note: Sections NJ.S. 40A:4-6l, 40A:4-62 and 40A:4-63 of the Local Budget Law require that separate bank accounts be maintained for each allocated fund. Sheet 9b

21 Grant MUNICIPALITIES AND COUNTIES FEDERAL AND STATE GRANTS RECEIVABLE Balance 2010 Received Jan. 1,2010 Budget Revenue Realized Balance Dec. 31, ~ ~ > ~... <:> Totals

22 Grant SCHEDULE OF APPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS Transferred from 2010 Balance Budget Appropriations Transferred Jan. 1,2010 Appropriations from 2009 Expended Budget By40A:4-87 Appropriatons Balance Dec. 31, 2010 ~ en 1:1' to to Totals

23 Grant SCHEDULE OF APPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS (cont.) Transferred from 2010 Balance Budget Appropriations Transferred Expended Jan. 1,2010 Appropriations from 2009 Budget By40A:4-87 Appropriatons Balance Dec. 31,2010 ~ ri:l =... ~,... ~ Totals - -

24 -- SCHEDULE OF UNAPPROPRIATED RESERVES FOR FEDERAL AND STATE GRANTS Grant Transferred to 2010 Balance Budget Appropriations Received Jan. 1,2010 Appropriations Budget By40A:4-87 Balance Dec. 31,2010 Alcohol Education Rehabilitation Grant 16, , , , Drunk Driving Enforcement Fund 13, , , , Recycling Tonnage 87, , , , Bulletproof Vest Partnership Act 4, , Clean Communities 10, , , , (/J ; ~... N Body Armor Replacement Fund Atlantic Health Grant Energy Audit Grant , , , : 3, I Totals 132, , , ,535.17

25 * LOCAL DISTRICT SCHOOL TAX Debit Balance January 1, 2010 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) Levy School Year July 1, June 30,2011 Levy Calendar Year ,003, Paid 25,003, Balance December 31, 2010 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) Not including Type I school debt service. emergency authorizations-schools, transfer to Board of Education for use of Local Schools. 25,003, ,003, # Must include unpaid requisilions. MUNICIPAL OPEN SPACE TAX Debit Balance January 1, , Levy , Improvement Authorization Refunded 304, Interest Earned 2, Expenditures 709, Balance December 31, , ,336, ,336, Sheet 13

26 REGIONAL SCHOOL TAX - N/A (Provide a separate statement for each Regional District involved) Debit Balance January 1, 2010 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) Levy School Year July 1, June 30, 2011 Levy Calendar Year 2010 Paid Balance December 31, 2010 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) Must include unpaid requisitions. REGIONAL HIGH SCHOOL TAX Debit Balance January 1, 2010 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) Levy School Year July 1, June 30, 2011 Levy Calendar Year ,066, Paid 16,066, Balance December 31, 2010 School Tax Payable # School Tax Deferred (Not in excess of 50% of Levy ) Must include unpaid requisitions. 16,066, ,066, Sheet 14

27 COUNTY TAXES PAYABLE Debit Balance January 1, 2010 County Taxes Due County for Added and Omitted Taxes , Levy General County ,028, County Library County Healtb County Open Space Preservation 773, Due County for Added and Omitted Taxes , Paid 7,836, Balance December 31, 2010 County Taxes Due County for Added and Omitted Taxes 20, ,856, ,856, SPECIAL DISTRICT TAXES - NI A Debit Balance January 1, Levy: (List Each Type of District Tax Separately - see Footnote) Fire Sewer Water Garbage Open Space Downtown Improvements Total 2010 Levy Paid Balance December 31, Footnote: Please state tbe number of districts in each instance. Sheet 15

28 STATE LffiRARY AID RESERVE FOR MAINTENANCE OF FREE PUBUC LIBRARY WITH STATE AID I Debit Balance January 1, State Library Aid Received in Expended Balance December 31, RESERVE FOR EXPENSE OF PARTICIPATION IN FREE COUNTY LIBRARY WITH STATE AID Balance January 1, State Library Aid Received in Expended Balance December 31, RESERVE FOR AID TO LIBRARY OR READING ROOM WITH STATE AID (N.r.S.A. 40:54-35) Balance January 1, State Library Aid Received in Expended Balance December 31, RESERVE FOR LIBRARY SERVICES WITH FEDERAL AID Balance January 1, 2010 State Library Aid Received in Expended Balance December 31, Sheet 16 N/A

29 STATEMENT OF GENERAL BUDGET REVENUES 2010 Source Budget Realized Excess or Deficit* Surplus Anticipated ,377, ,377, Surplus Anticipated with Prior Written Consent of Director of Local Government Miscellaneous Revenue Anticipated: Adopted Budget 4,842, ,257, , Added by N.J.S. 40A:4-87:CList on 17a). I 33, (33,000.00) I Total Miscellaneous Revenue Anticipated ,875, ,257, , Receipts from Delinquent Taxes , , , Amount to be Raised by Taxation: Ca) Local Tax for Municipal Purposes Cb) Addition to Local District School Tax Total Amount to be Raised by Taxation ,848, ,993, ,145, ,544, ,376, ,832, ALLOCATION OF CURRENT TAX COLLECTIONS Debit Current Taxes Realized in Cash (Total of Item 10 or 14 on Sheet 22) ,722, Amount to be Raised by Taxation. Local District School Tax ,003, Regional School Tax Regional High School Tax ,066, County Taxes ,801, Due County for Added and Omitted Taxes , Special District Taxes Municipal Open Space Tax , Reserve for Uncollected Taxes ,852, Deficit in Required Collection of Current Taxes (or) Balance for Support of Municipal Budget (or) *Excess Non-Budget Revenue (see footnote) ,993, *Deficit Non-Budget Revenue (see footnote) * 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. 62,575, ,575, Sheet 17

30 STATEMENT OF GENERAL BUDGET REVENUES 2010 (Continued) Miscellaneous Revenues Anticipated: Added by N.J.S. 40A:4-87 Source Budget Realized Excess or Deficit Over the Limit 5, (5,000.00) Recreation Trails Grant 25, (25,000.00) ANJEC Grant 3, (3,000.00) --'- Total (Sheet 17) 33, (33,000.00) Sheet 17a

31 STATEMENT OF GENERAL BUDGET APPROPRIATIONS Budget as Adopted Budget - Added by N.J.S. 40A: Appropriated for 2010 (Budget Statement Item 9) ,511, , ,544, Appropriated for 2010 by Emergency Appropriation (Budget Statement Item 9) Total General Appropriations (Budget Statement Item 9) ,544, Add: Overexpenditures (see footnote) Total Appropriations and Overexpenditures ,544, Deduct Expenditures: Paid or Charged [Budget Statement Item (L)] ,882, Paid or Charged - Reserve for Uncollected Taxes ,852, Reserved , Total Expenditures Unexpended Balances Canceled (see footnote) ,543, FOOTNOTES RE: OVEREXPENDITURES: Every 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) N/A 2010 Authorizations N.J.S. 40A:4-46 (After adoption of Budget) N.J.S. 40A:4-20 (Prior to adoption of Budget) Total Authorizations Deduct Expenditnres: Paid or Charged Reserved Total Expenditures Sheet 18

32 RESULTS OF 2010 OPERATION CURRENT FUND Debit Excess of Anticipated Revenues: Miscellaneous Revenues Anticipated , Delinquent Tax Collections , Required Collection of Current Taxes ,145, Unexpended Balances of 2010 Budget Appropriations Miscellaneous Revenue Not Anticipated , MIScellaneous Kevenue Not Antlclpatea: Proceeds of Sale of Foreclosed Property (Sheet 27) Payments in Lieu of Taxes on Real Property Sale of Municipal Assets Unexpended Balances of 2009 Appropriation Reserves , Prior Years Interfunds Returned in Cancellation of Tax Sale Premiums 18, Cancellation of Tax Overpayments 1, Deferred School Tax Revenue: (See School Taxes, Sheets 13 & 14) Balance January 1, Balance December 31, Deficit in Anticipated Revenues: Miscellaneous Revenues Anticipated Delinquent Tax Collections Required Collection of Current Taxes Interfund Advances Originating in Prior Year Veterans and Senior Citizens Deductions 1, Increase in Reserve for Pending Tax Appeals 149, xxxxxxx. Deficit Balance - To Trial Balance (Sheet 3) Surplus Balance - To Surplus (Sheet 21) ,558, ,709, ,709, Sheet 19

33 SCHEDULE OF MISCELLANEOUS REVENUES NOT ANTICIPATED Source I Amount Realized Cable TV Franchise Fee 201, Uniform Fire Safety Fees 36, Interest on Garbarge Fees 10, Payment In Lieu of Taxes 50, Farm Land Lease 2, Hotel Tax 62, Recycling Reimbursement 17, Other 42, Collection of Prior Year Grants Receivable 76, Total Amount of Miscellaneous Revenues Not Anticipated (Sheet 19) 499, Sheet 20

34 SURPLUS-CURRENTFUND YEAR 2010 I Debit l. Balance January 1, ,350, Excess Resulting from 2010 Operations Amount Appropriated in the 2010 Budget - Cash ,377, Amount Appropnated m ZUlU Budget - WIth Pnor Wntten Consent of Director of Local Govennnent Services Balance December 31, ,530, ,908, ,558, ,908, ANALYSIS OF BALANCE DECEMBER 31,2010 (FROM CURRENT FUND - TRIAL BALANCE) Cash Investments ,812, Sub Total 6,812, Deduct Cash Liabilities Marked with "c" on Trial Balance Cash Surplus Deficit in Cash Surplus Other Assets Pledged to Surplus: * (1) Due from State of N.J. Senior Citizens and Veterans Deduction Deferred Charges # Cash Deficit # , ,300, ,511, Total Other Assets 'IN THE CASE OF A "DEFICIT IN CASH SURPLUS","OTHERASSETS WOULD ALSO BE PLEDGED TO CASH LIABILITIES. # MAY NOT BE ANTICIPATED AS NON -CASH SURPLUS IN 2010 BUDGET. (1) MAY BE ALLOWED UNDER CERTAIN CONDITIONS , ,530, NOTE: Deferred charges for authorizations under N.J.S. 40A:4-55 (Tax Map. etc.). N.J.S. 40A:4-55 (Flood Damage, etc.), N.J.S. 40A: (Roads and Bridges, etc.) and N.J.S. 40A: (Public Exigencies, etc.) to extent of emergency notes issued and outstanding for such purposes, together with such emergency notes, may be omitted from this analysis. Sheet 21

35 (FOR MUNICIPALITIES ONLY) CURRENT TAXES LEVY 1. Amount of Levy as per Duplicate (Analysis) # or (Abstract of Ratables) $ 61,429, $ 2. Amount of Levy Special District Taxes $ 3. Amount Levied for Omitted Taxes under N.J.S.A. 54: et seq $ 4. Amount Levied for Added Taxes under N.J.S.A. 54: et seq $ 160, a. 5b. 5c Subtotal 2010 Levy $ 61,589, Reductions due to tax appeals" $ Tota12010 Tax Levy Transferred to Tax Title Liens Transferred to Foreclosed Property Remitted, Abated or Canceled Discount Allowed Collected in Cash: In $ In 2010 * $ State's Share of 2010 Senior Citizens and Veterans Deductions Allowed $ REAP Revenue $ $ 61,589, $ 81, $ $ 95, $ 295, ,264, , Total to Line $ Total s 60,722, $ 60,899, Amount Outstanding December 31, Percentage of Cash Collections to Total 2010 Levy, (Item 10 divided by Item 5c) is 98.59% $ 689, Note: If municipality conducted Accelerated TIlX Sale or TIlX Levy Sale check here D &- complete sheet 22a. 14. Calculation of Current Taxes Realized in Casb' Total of Line 10 Less: Reserve for Tax Appeals Pending State Division of Tax Appeals To Current Taxes Realized in Cash (Sheet 17) $ 6_0,,,-72_2,,,,8-,-9-,-,0.-,-50_ $_ $ -=6c.:. 0,,,-72=2,,,,8c:. 9..:.;0'0-50,- Note A: In Showing the above percentage the following should be noted: Where Item 5 shows $1,500, and Item 10 shows $1,049,977.50, the percentage represented by the cash collections would be $1,049, I $1,500,000, or The correct percentage to be shown as Item 13 is 69.99% and not 70.00%, nor % # Note: On Items 1 if Duplicate (Analysis) Figure is used; be sure to include Senior Citizens and Veterans Deductions. * Include overpayments applied as part of 2010 collections. ** Tax Appeals pursuant to R.S. 54:3-21 et seq and/or R.S. 54:48-1 et seq approved by resolution by the governing body prior to introduction of municipal budget. (N.J.S.A. 40A:4-41) Sheet 22

36 ACCELERATED TAX SALE I TAX LEVY SALE-CHAPTER 99 To Calculate Underlying Tax Collection Rate for 2010 Utilize this sheet only if you conducted an Accelerated Tax Sale or Tax Levy Sale pursuant to Chapter 99, P.L (1) Utilizing Accelerated Tax Sale Total of Line 10 Collected in Cash (sheet 22)..., $ LESS: Proceeds from Accelerated Tax Sale.... NET Cash Collected $ Line 5c (sheet 22) Total 2010 Tax Levy $ Percentage of Collection Excluding Accelerated Tax Sale Proceeds (Net Cash Collected divided by Item 5c) is % (2) Utilizing Tax Levy Sale Total of Line 10 Collected in Cash (sheet 22) $ LESS: Proceeds from Accelerated Tax Levy Sale (excluding premium). NET Cash Collected $ Line 5c (sheet 22) Total 2010 Tax Levy $ Percentage of Collection Excluding Accelerated Tax Sale Proceeds (Net Cash Collected divided by Item 5c) is % Sheet 22a N/A

37 SCHEDULE OF DUE FROM/TO STATE OF NEW JERSEY FOR SENIOR CITIZENS AND VETERANS DEDUCTIONS l. Balance January 1, 2010 Due From State of New Jersey Due To State of New Jersey 2. Sr. Citizens Deductions Per Tax Billings 3. Veterans Deductions Per Tax Billings 4. Sr. Citizens & Veterans Deductions Allowed By Tax Collector 5. Sr. Citizens & Veteran Deductions Allowed By Tax Collector Sr. Citizens & Veteran Deductions Disallowed By Tax Collector Debit 19, , , , , Sr. Citizens & Veteans Deductions Disallowed By Tax Collector Received in Cash from State 1, , Il. 12. Balance December 31, 2010 Due From State of New Jersey Due To State of New Jersey 18, , , Calculation of Amount to be included on Sheet 22, Item Senjor Cjtizen and Veterans Deductions Allowed Line 2 19, Line 3 141, Line 4 4, Sub-Total 165, Less: Line 7 1, To Item 10, Sheet , Sheet 23

38 SCHEDULE OF RESERVE FOR TAX APPEALS PENDING - (N.J.S.A. 54:3-27) I Debit Balance January I, , Taxes Pending Appeals Interest Earned on Taxes Pending Appeals Lontested ~ount of ~u 1 U 1 axes Lollected which are Pending State Appeal (Item 14, Sheet 22) 149, Interest Earned on Taxes Pending State Appeals Increase in Reserve Cash Paid to Appelants (Including 5 % Interest from Date of Payment) 114, Llosea to results or uperatlons (Portion of Appeal won by Municipality, including Interest) Balance December 31, 2010 Taxes Pending Appeals* Interest Earned on Taxes Pending Appeals 375, * Includes State Tax Court and County Board of Taxation 489, , Appeals Not Adjusted by December 31,2010. Signature of Tax Collector License # Date Sheet 24

39 COMPUTATION OF APPROPRIATION: RESERVE FOR UNCOLLECTED TAXES AND AMOUNT TO BE RAISED BY TAXATION IN 2011 MUNICIPAL BUDGET YEAR 2011 YEAR 2010 I. Total General Appropriations for 2011 Municipal Budget Statement Item 8(L) (Exclusive of Reserve for Uncollected Taxes Local District School Tax - Regional School District Tax - Actual Estimate** Actual Estimate** Regional High School Tax - Actual School Budget Estimate** County Tax Special District Taxes Municipal Open Space Taxes Actual Estimate** Actual Estimate** Actual Estimate** Total General Appropriations & Other Taxes Less: Total Anticipated Revenues from 2011 io Municipal Budget (Item 5) Cash Required from 2011 Taxes to Support Local Municipal Budget and Other Taxes Amount of Item 10 Divided by % [ ] Equals Amount to be Raised by Taxation (Percentage used must not exceed the applicable percentage shown by Item 13, Sheet 22) ADal~sis of lrem I!' Local District School Tax (Amount Shown on Lioe 2 Above) 'actual' Tax of Year 2010 Regional School District Tax (Amount Shown on Lioe 3 Above) Regional High School District Tax (Amount Shown on Lioe 4 Above) County Tax (Amount Shown on Lioe 5 Above) Special District Tax (Amount Shown on Lioe 7 Above) Municipal Open Space Tax (Amount Shown on Lioe 7 Above) * May not be stated in an amount less than ** Must be stated in the amount of the proposed budget submitted by the Local Board of Education to the Commissioner of Education on January 15, 2011 (Chap. l36, P.L. 1978). Consideration must be given to calendar year calculation. Tax io Local Municipal Budget 12. Total Amount (see Line 11) Appropriation: Reserve for Uncollected Taxes (Budget Statement, Item 8 (M) (Item 11, Less Item 10) Computation Qf "Tax in I,!:u~al Muni~ipa] B:udg~:t" Note: The amount of Item 1 - Total General Appropriations anticipated reveneues (Item 9) Item 12 - Appropriation: Reserve for Uncollected Taxes may never exceed the total of Items 1 Sub-Total and 12. Less: Item 9 - Total Anticipated Revenues Amount to be Raised by Taxation io Municipal Budget Sheet 25

40 ACCELERATED TAX SALE - CHAPTER 99 Calculation To Utilize Proceeds in Current Budget As Deduction To Reserve For Uncollected Taxes Appropriation Note: This sheet should be completed only if you are conducting an accelerated tax sale for the first time in the current year. A. Reserve for Uncollected Taxes (sheet 25, Item 12) $ B. Reserve for Uncollected Taxes Exclusion: Outstanding Balance of Delinquent Taxes (sheet 26, Item 14A) x % of collection (Item 16) $ C. TIMES: % of increase of Amount to be Raised by Taxes over Prior Year % [(2011 Estimated Total Levy Total Levy) /2010 Total Levy D. Reserve for Uncollected Taxes Exclusion Amount [(B xc) + B] $_ E. Net Reserve for Uncollected Taxes Appropriation in Current Budget (A-D) $_ Reserve for Uncollected Taxes Appropriation Calculation (Actual) Subtotal General Appropriations (item 8(L) budget sheet 29 Taxes not included in the Budget (AFS 25, items 2 thru 7) Total Less: Anticipated Revenues (item 5, budget sheet 11) Cash Required Total Required at % (items 4+6) Reserve for Uncollected Taxes (item E above) $ $ $ $ $ $ $ Sheet25a N/A

41 SCHEDULE OF DELINQUENT TAXES AND TAX TITLE LIENS Debit I 1. Balance January 1, ,251, A. Taxes , B. Tax Title Liens , Canceled: A. Taxes , B. Tax Title Liens , Transferred to Foreclosed Tax Title Liens: A. Taxes B. Tax Title Liens Added Taxes Added Tax Title Liens Adjustment between Taxes (Other than Current year) and Tax Title Liens: A. Taxes - Transfers to Tax Title Liens (1) B. Tax Title Liens - Transfers from Taxes (1) 7. Balance Before Cash Payments 1,243, Totals 1,251, ,251, Balance Brought Down 1,243, Collected: 747, A. Taxes , B. Tax Title Liens Interest and Costs Tax Sale Taxes Transferred to Liens , Taxes , Balance December 31, ,266, A. Taxes , B. Tax Title Liens , Totals 2,014, ,014, Percentage of Cash Collections to Adjusted Amount Outstanding 17. (Item No. 10 divided by item No.9) is %1 L '-'-----'r- I Item No. 14 multiplied by percentage shown above is. 761, and represents the maximum amount that may be anticipated in (See Note A on Sheet 22 - Current Taxes) (1) These amounts will always be the same. Sheet 26

42 SCHEDULE OF FORECLOSED PROPERTY (property ACQUIRED BY TAX TITLE LffiN LIQUIDATION) Debit I. Balance January 1, , Forclosed or Deeded in Tax Title Liens Taxes Receivable A B Adjustment to Assessed Valuation Adjustment to Assessed Valuation Sales 9. Cash * Contract I!. Mortgage Loss on Sales Gain on Sales Balance December 31, , CONTRACT SALES - N/A 546, Debit I 546, Balance January 1, Sales from Foreclosed Property Collected * Balance December 31, MORTGAGE SALES - N/A Debit 20. Balance January 1, Sales from Foreclosed Property 22. Collected * Balance December 31, AnalYSIS of Sale of Property: * Total Cash Collected in 2010 $ ---:::-.,.,-:-::-::-::-:-- ( ) Realized in 2010 Budget To Results of Operation (Sheet 19) Sheet 27

43 DEFERRED CHARGES -MANDATORY CHARGES ONLY CURRENT, TRUST, AND GENERAL CAPITAL FUNDS (Do not Include the emergency authorizations pursuant to N.J.S. 40A:4-55, N.J.S. 40A: or N.J.S. 40A: listed on Sheets 29 and 30.) Caused By Amount Dec. 31,2009 Amount in Amount per Audit 2010 Resulting Report Budget from 2010 Balance as at Dec. 31, Emergency Authorization - Municipal $ $ $ $ 2. Emergency Authorizations - Schools $ $ $ $ 3. $ $ $ $ 4. $ $ $ $ 5. $ $ $ $ 6. $ $ $ $ 7. $ $ $ $ 8. $ $ $ $ 9. $ $ $ $ 10. $ $ $ $ Do not include items funded or refunded as listed below. EMERGENCY AUTHORIZATIONS UNDER N.J.S. 40A:4-47 WHICH HAVE BEEN FUNDED OR REFUNDED UNDER N.J.S. 40A:2-3 or N.J.S. 40A:2-51 Date Pumose Amount 1. $ 2. $ 3. $ 4. $ 5. $ JUDGEMENTS ENTERED AGAINST MUNICIPALITY AND NOT SATISFIED In favor of On Account of Date Entered Amount Appropriated for in Budget of Year $_---- $_---- $_--- $_---- Sheet 28 N/A

44 N.J.S. 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; MUNICIPAL CONSOLIDATION ACT; FLOOD OR HURRICANE DAMAGE. Date i Purpose I Amount Authorized Not Less Than 115 of Amount Authorized * Balance REDUCED IN 2009 Balance Dec. 31, 2009 By 2010 Canceled Dec. 31,2010 Budget by Resolution ~ [ t-.l \0 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. 40A:4-53 et seq. and are recorded on this page. Chief Financial Officer * Not less than one-fifth (115) of amount authorized but not more than the amount shown in the column "Balance Dec. 31,2010" must be entered here and then raised in the 2011 budget.

45 N.J.S. 40A:4-55.1, ET SEQ., SPECIAL EMERGENCY - DAMAGE CAUSED TO ROADS OR BRIDGES BY SNOW, ICE, FROST OR FLOOD N.J.S. 40A: , ET SEQ., SPECIAL EMERGENCY - PUBLIC EXIGENCIES CAUSED BY CIVIL DISTRURBANCES Date I Purpose I Not Less Than REDUCED IN 2009 Amount Balance 1/5 of Amount Authorized Dec. 31,2009 By 2010 Canceled Authorized *. Budget by Resolution Balance Dec. 31,2010 til Z go ); sp. w o 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. 40A: et seq. and N.J.S. 40A: et seq. and 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, 2010" must be entered here and then raised in the 2011 budget.

46 SCHEDULE OF BONDS ISSUED AND OUTSTANDING AND 2011 DEBT SERVICE FOR BONDS (COUNTY) (MUNICIPAL) GENERAL CAPITAL BONDS Source Debit 2011 Debt Service Outstanding, January 1, ,535, Issued Paid , xxxxxxx Outstanding, December 31, ,020, ,535, ,535, Bond Maturities - General Capital Bonds A 515, Interest on Bonds * , Assessment Serial Bonds Outstanding, January 1, Issued Paid Outstanding, December 31, Bond Maturities - Assessment Bonds Interest on Bonds * Total "Interest on Bonds - Debt Service" (* Items) LIST OF BONDS ISSUED DURING 2010 A 35, Purpose 2011 Maturity Amount Issued Date of Issue Interest Rate Total A Note: $154,500 of principal and $10, of interest will be paid by the Open Space Trust Sheet 31

47 SCHEDULE OF BONDS ISSUED AND OUTSTANDING AND 2011 DEBT SERVICE FOR BONDS (COUNTY) (MUNICIPAL),~====~.LOAN Debit I 2011 Debt Service Outstanding, January 1, Issued Paid Outstanding, December 31, Loan Maturities $ Interest on Loans $ Total 2011 Debt Service for Green Acres Loan $ Morris County Improvement Authority Lease Outstanding, January 1, ,069, Issued Paid , Outstanding, December 31, ,710, ,069, ,069, Lease Maturities $ 2011 Interest on Lease $ Total 2011 Debt Service for Morris County Improvement Authority Lease $ 398, , , UST OF LEASES ISSUED DURING N/A Purpose ljate at 2011 Maturity Amount Issued Issue I Interest Rate Total Sheet 31a

48 SCHEDULE OF BONDS ISSUED AND OUTSTANDING AND 2011 DEBT SERVICE FOR BONDS TYPE I SCHOOL TERM BONDS Source Debit 2011 Debt Service Outstanding, January 1, 20lO Paid Outstanding, December 31, Bond Maturities - General Capital Bonds $ 2011 Interest on Bonds * $ TYPE I SCHOOL SERIAL BOND Outstanding, January 1, 20lO Issued Paid Outstanding, December 31, Interest on Bonds * lO $ 2011 Bond Maturities - Serial Bonds $ Total "Interest on Bonds - Type I School Debt Service" ("Items) $ LIST OF BONDS ISSUED DURING 2010 Purpose LU 11 Matunty Amount Issueu vate or Interest Issue Rate 2011 INTEREST REQUIREMENT - CURRENT FUND DEBT ONLY Outstanding 2011 Interest Dec. 31, 20lO Requirement 1. Emergency Notes 2. Special Emergency Notes 3. Tax Anticipation Notes 4. Interest on Unpaid State and County Taxes Total $ $ $ $ $ $ $ $ $ $ $ $ Sheet 32 N/A

49 DEBT SERVICE FOR NOTES (OTHER THAN ASSESSMENT NOTES) Title or Purpose ofissue I ---- Amount OrigiIial Original of Note Amount Date of Outstanding Issued Issue * Dec. 31, 2010 Date of Maturity Rate 2011 Budget Requirement Interest of For Principal For Interest Computed to Interest * * (Insert Date) I. Various Equipment 1,040, / , / % 75, , / Various Capital Improvements 1,097, ,039, / % 58, , /21/11 3. Various Capital Improvements 1,254, /07 868, % 67, , /21/11 4. Various Capital Improvements 842, / , / % 12, /08/11 5. Library Improvements 1,520, / ,420, /08/ % 21, /11 CIl If a I;.) I;.) 6. Various Capital Improvements 930, /09 930, Various Capital Improvements 929, /21/10 929, / /21/ % 9, / % 9, / Total 7,613, ,544, Memo: Designate all ftcapital Notes~ issued under N.},S, 40A:2-8(b) with "C". Such notes must be retired at the rate of20% of the original amount issued annually. Memo: Type 1 School 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 2008 or prior require one legally payable installment to be budgeted if it is contemplated that such notes will be renewed in 2011 or written intent of permanent financing submitted with statement. ** If interest on notes is financed by ordinance, designate same, otherwise an amount must be included in this column. 200, , (Do not crowd - add additional sheets)