YEARS ENDED DECEMBER 31, 2009 AND 2008 FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION with INDEPENDENT AUDITOR'S REPORTS and COMMENTS AND RECOMMENDATIONS
TABLE OF CONTENTS Year ended December 31, 2009 Independent Auditor's Report Financial Statements Current Fund Comparative Balance Sheet - Regulatory Accounting Basis Comparative Statement of Operations and Changes in Fund Balance - Regulatory Accounting Basis Statement of Revenues - Regulatory Accounting Basis Statement of Appropriations - Regulatory Accounting Basis Trust Fund Comparative Balance Sheet - Regulatory Accounting Basis General Capital Fund Comparative Balance Sheet - Regulatory Accounting Basis Comparative Statement of Fund Balance - Regulatory Accounting Basis Water/Sewer Utility Fund Comparative Balance Sheet - Regulatory Accounting Basis Comparative Statement of Operations and Changes in Fund Balance - Regulatory Accounting Basis Comparative Statement of Fund Balance - Water/Sewer Utility Capital Fund - Regulatory Accounting Basis Comparative Statement of Fund Balance - Water/Sewer Utility Assessment Trust Fund - Regulatory Accounting Basis Statement of Revenues - Regulatory Accounting Basis Statement of Expenditures - Regulatory Accounting Basis Public Assistance Fund Comparative Balance Sheet - Regulatory Accounting Basis General Fixed Assets Account Group Comparative Statement of Fixed Assets - Regulatory Accounting Basis Exhibit A A-1 A-2 A-3 B C C-1 D D-1 D-2 D-3 D-4 D-5 E F Notes to Financial Statements
TABLE OF CONTENTS Year ended December 31, 2009 Supplementary Schedules Current Fund Schedule of Cash - Treasurer Schedule of Change Fund Schedule of Due From State of New Jersey - Senior Citizens' and Veterans' Deductions Schedule of Taxes Receivable and Analysis of Property Tax Levy Schedule of Tax Title Liens Receivable Schedule of Property Acquired for Taxes - Assessed Valuation Schedule of Revenue Accounts Receivable Schedule of Deferred Charges - N.J.SA 40A:4-53 Special Emergency Authorizations Schedule of 2008 Appropriation Reserves Schedule of Encumbrances Payable Schedule of Prepaid Taxes Schedule of County Taxes Payable Schedule of Regional School Taxes (Receivable)/Payable Schedule of Accounts Payable Schedule of Tax Overpayments Payable Schedule of Interfunds Payable Schedule of Due To State of New Jersey Schedule of Various Reserves Schedule of State Grants Receivable - Grant Fund Schedule of Reserve for State Grants - Appropriated - Grant Fund Schedule of Reserve for State Grants - Unappropriated - Grant Fund Schedule of Reserve for Encumbrances - Grant Fund Schedule of Due From Current Fund - Grant Fund Schedule of Special Emergency Note Payable - Current Fund Schedule of Deferred Charges - Current Fund Schedule of Interfunds Receivable - Current Fund Trust Fund Schedule of Cash - Treasurer Schedule of Due To State of New Jersey - Animal Control Trust Fund Schedule of Reserve for Animal Control Expenditures - Animal Control Trust Fund Schedule of Due To Current Fund - Trust - Other Fund Schedule of Various Trust Fund Reserves Schedule of Prepaid Railroad Permits - Trust - Other Fund Schedule of Investments - Length of Service Awards Program Fund Schedule of Miscellaneous Reserves - Length of Service Awards Program Fund Schedule 1-A 2-A 3-A 4-A 5-A 6-A 7-A 8-A 9-A 10-A 11-A 12-A 13-A 14-A 15-A 16-A 17-A 18-A 19-A 20-A 21-A 22-A 23-A 24-A 25-A 26-A 1-B 2-B 3-B 4-B 5-B 6-B 7-B 8-B
TABLE OF CONTENTS Year ended Oecember 31,2009 Supplementary Schedules General Capital Fund Schedule of Cash - Treasurer Schedule of Analysis of General Capital Cash and Investments Schedule of Oeferred Charges To Future Taxation - Funded Schedule of Oeferred Charges To Future Taxation - Unfunded Schedule of General Serial Bonds Schedule of Bond Anticipation Notes Schedule of Improvement Authorizations Schedule of Capital Improvement Fund Schedule of Oue From State of New Jersey Oepartment of Transportation Schedule of Oue From Current Fund Schedule of Oue From Monmouth County Improvement Authority Schedule of Oue From Water/Sewer Utility Capital Fund Schedule of Green Trust Loan Payable Schedule of Capital Lease Obligations Payable Schedule of Reserve for Encumbrances Schedule of Bonds and Notes Authorized But Not Issued Water/Sewer Utility Fund Schedule of Cash - Treasurer Schedule of Water/Sewer Utility Capital Cash Schedule of Consumer Accounts Receivable Schedule of Fixed Capital Schedule of Fixed Capital Authorized and Uncompleted Schedule of Appropriation Reserves Schedule of Reserve for Encumbrances Schedule of Accrued Interest on Bonds, Notes and Loans Schedule of Improvement Authorizations Schedule of Capital Improvement Fund Schedule of Reserve for Amortization Schedule of Oeferred Reserve for Amortization Schedule of Serial Bonds Schedule of Bond Anticipation Notes Schedule of Oue From General Capital Fund Schedule of Oue From Water/Sewer Utility Capital Fund Schedule of Oue From Water/Sewer Utility Assessment Fund Schedule of Oue To Water/Sewer Operating Fund Schedule of Assessments Receivable Schedule of Customer Overpayments Schedule of Reserve for Assessments Receivable Schedule of State of New Jersey Environmental Infrastructure Loan Payable Schedule 1-C 2-C 3-C 4-C 5-C 6-C 7-C 8-C 9-C 10-C 11-C 12-C 13-C 14-C 15-C 16-C 1-0 2-0 3-0 4-0 5-0 6-0 7-0 8-0 9-0 10-0 11-0 12-0 13-0 14-0 15-0 16-0 17-0 18-0 19-0 20-0 21-0 22-0
TABLE OF CONTENTS Year ended December 31, 2009 Water/Sewer Utility Fund (continued) Schedule of Reserve for Encumbrances Schedule of Due From Current Fund Schedule of Due To General Capital Fund Schedule of Due To Water/Sewer Utility Operating Fund Schedule of Bond and Notes Authorized But Not Issued General Fixed Assets Account Group Schedule of General Fixed Assets 23-0 24-0 25-0 26-0 27-0 1-F Comments Section Scope of Audit Contracts and Agreements Required to be Advertised per N.J.S. 40A:11-4 Collection of Interest on Delinquent Taxes and Assessments Tax Sale Confirmation of Oelinquent Taxes and Other Charges Comparative Statement of Operations and Changes in Fund Balance - Current Fund Comparative Statement of Operations and Changes in Fund Balance - Water/Sewer Utility Operating Fund Comparative Schedule of Tax Rate Information Apportionment of Tax Rate Assessed Valuations Comparison of Tax Levies and Collection Currently Delinquent Taxes and Tax Title Items Property Acquired By Tax Title Lien Liquidation Comparison of Water/Sewer Utility Fund Levies Comparative Schedule of Fund Balances Officials in Office and Surety Bonds I nternal Control Section Report on Internal Control over Financial Reporting and on Compliance Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Comments and Recommendations
Hutchins, Farrell, Meyer & Allison, P.A. Certified Public Accountants" Business & Financial Advisors Robert H. Hutchins, CPA, eva Eugene M. Farrell, CPA, RMA, efr Robert W. Allison, CPA, RMA Alan E. Meyer, CPA/ABV Joann DiLieto, CPA Patrice R. Antonucci, CPA Thomas L. Stetson, CPA Honorable Mayor and Members of the Borough Council Borough of Matawan, New Jersey INDEPENDENT AUDITOR'S REPORT Monmouth County Office 912 Highway 33 Suite 2 Freehold, NJ 07728 (732) 409-0800 Fax: (732) 866-9312 Ocean County Office 512 Main Street ~ PO Box 1778 Toms River, NJ 08754 (732) 240-5600 Fax: (732) 505-8358 We have audited the accompanying regulatory-basis financial statements of the Borough of Matawan, County of Monmouth, New Jersey ("Borough") as of December 31, 2009, and for the year then ended which collectively comprise the Borough's basic financial statements, listed as financial statement exhibits in the Table of Contents, These financial statements are the responsibility of the Borough's management Our responsibility is to express an opinion on these financial statements based on our audit The financial statements of the Borough for the year ended December 31,2008 were audited by other auditors whose report dated October 19, 2009 expressed an adverse opinion in accordance with auditing standards generally accepted in the United States of America and unqualified on a regulatory basis, Except as discussed in the following paragraph, we conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and in compliance with audit requirements prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey ("Division"), Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation, We believe that our audit provides a reasonable basis for our opinions. As described in Note 1, the Borough prepares its financial statements using accounting practices that demonstrate compliance with the regulatory basis of accounting and budget laws prescribed or permitted by the Division, which practices differ from accounting principles generally accepted in the United States of America. The effects on the financial statements of the variances between these regulatory accounting practices and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material In addition, the financial statements of the Length of Service Award Program Fund ("LOSAP") have not been audited, and we were not required by the Division to audit nor were we engaged to audit the LOSAP Fund financial statements as part of our audit of the Borough's financial statements. The LOSAP Fund financial activities are included in the Borough's Trust Fund, and represent 16.45% and 11.79% of the assets and liabilities, respecflvely, of the Borough's Trust Funds as of December 31, 2009 and 2008.
Honorable Mayor and Members of the Borough Council Borough of Matawan, New Jersey Page 2 In our opinion, because of the effects of the Borough's preparing its financial statements on the basis of accounting discussed in the preceding paragraph, the financial statements referred to above do not present fairly, in conformity with accounting principles generally accepted in the United States of America, the financial position of the Borough as of December 31,2009, or the changes in its financial position, or, where applicable, its cash flows for the year then ended. Further, the Borough has not presented a Management's Discussion and Analysis that accounting principles generally accepted in the United States of America has determined is necessary to supplement, although not required to be part of, the basic financial statements. Also in our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had the LOSAP Fund financial statements been audited, the regulatory-basis financial statements referred to above present fairly, in all material respects, the financial position, on a regulatory accounting basis, of the various funds of the Borough as of December 31, 2009, and the results of operations and changes in fund balance - regulatory basis of such funds for the year then ended and the Statements of Revenues - Regulatory Basis and the Statement of Expenditures - Regulatory Basis of the various funds for the year ended December 31, 2009 on the basis of accounting described in Note 1. In accordance with Government Auditing Standards, we have also issued our report dated June 30, 2010 on our consideration of the Borough's internal control structure over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. Our audit was performed for the purpose of forming an opinion on the regulatory-basis financial statements taken as a whole, The accompanying supplementary schedules and Comments section listed in the Table of Contents are presented for purposes of additional analysis as required by the Division of Local Government Services, Department of Community Affairs, State of New Jersey and are not a required part of the regulatory-basis financial statements, Such information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole, on the basis of accounting described in Note 1, flldc/u;u, '1M1ldl, 1fW.(u 6 IIfliMn, 7.11. Independent Auditors June 30, 2010 Robert W Allison Registered Municipal Accountant (#483)
FINANCIAL STATEMENTS
CURRENT FUND EXHIBITS
f.:xhibit A CURRENT FUND COMPARATIVE BALANCE SHEET - REGULATORY ACCOUNTING BASIS December 31, 2009 and 2008 f\ssets Reference ~9g" 2008 Liabilities Reserves and Fund ~alance Reference 2009 2008 Current Fund: Cash - Treasurer 1-A $ 1,404,25833 $ 1,540,396.33 Cash - Change Fund 2-A 150.00 150.00 1,404.408.33 1,540,546.33 Due From State of New Jersey 3-A 50000 750.00 1,404,908.33 1,541,296.33 Receivables With Full Reserves' Delinquent Property Taxes Receivable 4-A 10,195.64 4,932.24 Appropriation Reserves A-3,9-A $ 226,221.14 $ 276.95917 Tax Title Liens Receivable 5-A 7.016.56 3,884.61 Encumbrances Payable 10-A 255,737.85 223,189_11 Property Acquired for Taxes- Prepaid Taxes 11-A 97,735.93 75,429.90 Assessed Valuation 6-A 125,90000 125,90000 County Taxes Payable 12-A 17,719.82 4,446.55 Regional School Taxes Receivable 13-A 213,10353 Regional School Taxes Payable 13-A 1000 Interfunds Receivable 26-A 5,40976 64,678.73 Various Reserves 18-A 30,34540 67,158.73 Revenue Accounts Receivable 7-A 6,121.10 16,590.67 Special Emergency Notes Payable 24-A 100,00000 150,000.00 Accounts Payable 14-A 21,167.95 5,00000 154,64306 429,089.78 Tax Overpayments 15-A 11.973.36 9,34553 Due To Federal and State Grant Fund 23-A 99,56624 84,667.82 Deferred Charges Interfunds Payable 16-A 155,608.31 1,031,359.61 Special Emergency Authorization 8-A 104,800.00 163,16000 Due To State New Jersey 17-A 20000 Emergency Appropriations 25-A 310,000.00 Reserve for Tax Appeals A 18,994.76 18,994.76 Deficit in Operations 25-A 11,338.79 11,33879 Expenditure Without Appropriation 25-A 3,641.19 1,035,280.76 1,946,551.18 Overexpenditure of Appropriation Reserves 25-A 430.64 35,851.99 Reserve for Receivables and Other Assets A 154,64306 429.08978 116,569.43 523,991.97 Fund Balance A-1 486,19700 118,737.12 1,676,120.82 ~4,378.08 ~6,120.82 2,494,378.08 Federal and State Grants: Federal and State Grants: Appropriated Reserves 20-A 268,91608 71,925.13 Federal and State Grants Receivable 19-A 200,14870 13,042.70 Unappropriated Reserves 21-A 30,486.36 23,57269 Due From Current Fund 23-A 99,56624 84,667.82 Reserve for Encumbrances 22-A 312.50 2,21270 299,714.94 97,710.52 299,714.94 97,71052 Total Assets $ 1,975,83576 $ 2,592,08860 Total liabilities, Reserves and Fund Balance $ 1,975,835.76 JL!?~592.088.60 See accompanying notes
Exhibit A-1 CURRENT FUND COMPARATIVE STATEMENT OF OPERATIONS AND CHANGES IN FUND BALANCE REGULATORY ACCOUNTING BASIS Years ended December 31,2009 and 2008 Reference 2009 2008 Revenue and Other Income Realized: Fund Balance Utilized A-1 $ 310,000.00 Miscellaneous Revenue Anticipated A-2 $ 3,435,405.63 3,316,678.89 Receipts From Delinquent Taxes A-2 4,933.85 3,000.00 Non-Budget Revenue A-2 145,239.34 79,580.24 Receipt From Current Taxes A-2,4-A 24,436,657.91 23,810,339.25 Other Credits To Income: Unexpended Balance of Appropriation Reserves 9-A 33,35147 83,056.78 Accounts Payable Cancelled A-1 5,215.19 Total Revenue 28,055,588.20 27,607,870.35 Expenditures: Budget Appropriations Within "CAPS": Operations' Salaries and Wages A-3 3,550,891.83 3,578,629.00 Other Expenses A-3 3,441,25441 3,616,302.00 Deferred Charges and Statutory Expenditures A-3 566,574.04 120,000.00 Appropriations Excluded From "CAPS": Operations: Other Expenses A-3 658,335.69 988,620.94 Capital Improvements A-3 45,000.00 45,000.00 Municipal Debt Service A-3 1,227,498.06 1,443,832.73 Deferred Charges A-3 268,360.00 183,360.00 County Taxes 12-A 2,704,115.12 2,659,630.86 County Share of Added Taxes 12-A 17,719.01 4,445.76 Regional School Taxes 13-A 15,185,403.17 14,990,949.19 School Tax Advance A-1 213,103.53 Prior Year Senior Citizens' Disallowed 3-A,4-A 1,250.00 3,000.00 Due From State ~ P.L. 1971, C, 20 Cancelled A-1 251.02 Reserve for Tax Appeals A-1 18,994.76 Refund Prior Year's Tax Revenue 1-A 21,720.99 33448 Refund of Prior Year Revenue 1-A 6.00 304.36 Interfund Advances A-1 62,450.51 Total Expenditures 27,688,128.32 27,929,209.14 Excess/(Deficit) in Revenue 367,459.88 (321,338.79) Add: Expenditures Included Above Which Are By Statute Deferred Charges To Budgets of Succeeding Years A-1 310,000.00 Statutory Excess To Fund Balance 367,459.88 Deficit in Operations to be Raised in Budget of Succeeding Year $ (11,338.79) Fund Balance, January 1 A 118,737.12 $ 428,737.12 486,197.00 428,737.12 Decreased By: Utilized as Anticipated Revenue A-1 310,000.00 Fund Balance, December 31 A $ 486,197.00 $ 118,737.12 See accompanying notes.
Exhibit A-2 BOROUGH OF MATAWAN Page 1 of 2 CURRENT FUND STATEMENT OF REVENUES - REGULATORY ACCOUNTING BASIS Year ended December 31, 2009 Budget Excess/ Reference Budget Amendments Realized (Deficit) Miscellaneous Revenues: Licenses: Alcoholic Beverages 7-A $ 15,500.00 $ 15,662.96 $ 162.96 Other 7-A 10,000.00 9,592.00 (40800) Fees and Permits 7-A 35,500.00 33,006.64 (2,493.36) Fines and Costs - Municipal Court 7-A 140,500.00 134,675.62 (5,824.38) Interest and Costs on Taxes 7-A 48,500.00 52,242.16 3,742.16 Interest on Investments and Deposits 7-A 35,500.00 (35,500.00) PILOT - Senior Citizens Housing Complex 7-A 73,000.00 94,716.00 21,716.00 Cable Television Fees 7-A 31,000.00 41,644.00 10,644,00 Railroad Parking Lot Fees and Permits 7-A 245,608.00 245,608.00 Rental of Matawan Municipal Community Center 7-A 42,000.00 51,881.00 9,881.00 Extraordinary Aid 7-A 105,000.00 105,000.00 Energy Receipts Tax 7-A 1,824,209.00 1,824,209.00 Uniform Construction Code Fees 7-A 160,000.00 173,347.06 13,347.06 Uniform Fire Safety Act 7-A 51,754,78 56,887.00 5,132.22 Recycling Tonnage Grant 19-A 8,626,11 8,626.11 Clean Communities Program 19-A 496,13 496.13 Alcohol Education and Rehabilitation Fund 19-A 1,178.00 1,178.00 Body Armor Fund 19-A 2,23845 2,23845 NJ DCA Smart Future Grant 19-A 6,800.00 6,800.00 Stormwater Management Program 19-A 4,234.00 4,234.00 Historic Sites 19-A 2,000.00 2,000.00 CDBG - Street Improvements & ADA Curb Cut and Drainage 19-A $ 187,106.00 187,106.00 General Capital Fund Balance 7-A 3,500.00 3,500.00 Due From: Regional School District 7-A 213,103.53 213,103.53 Payroll Trust Fund 7-A 9,089.72 9,089.72 Water/Sewer Utillty Operating Fund 7-A 50,179.25 50,179,25 Trust Fund 7-A 17,785.00 17,785.00 New Jersey State Library 7-A 90,598.00 90,598.00 Total Miscellaneous Revenues A-1 3,227,899.97 187,106.00 3,435,405.63 20,399.66 Receipts From Delinquent Taxes A-2 6,270.00 4,933.85 11,336.15) Property Taxes for Support of Municipal Budget Appropriations: Local Tax for Municipal Purposes Including Reserve for Uncollected Taxes A-2 6,497,821.70 6,602,010.31 104.188.61 Budget Totals 9,731,991.67 187,106.00 10,042,349,79 123,252.12 Non-Budget Revenue A-1,A-2,1-A 145,239.34 145,239.34 Total General Revenues A-3 $ 9,731,991.67 $ 187,106.00 $ 10,187,589.13 $ 268,49146 See accompanying notes,
Exhibit A-2 Page 2 of 2 CURRENT FUND STATEMENT OF REVENUES - REGULATORY ACCOUNTING BASIS Year ended December 31,2009 Reference Analysis of Realized Revenue Allocation of Current Tax Collections: Revenue From Collections School and County Taxes A-1,4-A 12-A,13-A $ 24,436,657.91 17,907,237.30 Balance for Support of Municipal Budget Appropriations Add: "Appropriation Reserve for Uncollected Taxes" A-2 A-3 6,529,420.61 72,589.70 Amount for Support of Municipal Budget Appropriations A-2 $ 6,602,010.31 Receipts From Delinquent Taxes: Delinquent Tax Collections A-2,4-A $ 4,933.85 Fees and Permits - Other: Tree Permits Planning and Zoning Fees Accident Reports Certified Copies Food Handling Street Openings Building Rental Registration $ 1,505.00 8,448.59 1,008.05 2,335.00 10,405.00 3,455.00 5,850.00 7-A $ 33,006.64 Miscellaneous Revenue Not Anticipated: Board of Health Burial Fees Copier Fees County OWl Patrol IDA - Drug Subsidy Inspection Fee Leisure Timers Polling Place Rental Returned Check Fee S.CAR.T. Sale of Assets Senior Citizen and Veterans Administrative Fee Cell Tower Rental Police Fees Refunds Workers Compensation YMCA Electric Bill Trust Reserves Cancelled Miscellaneous $ 1,000.00 1,275.00 465.34 1,08000 16,295.29 2,250.00 256.85 1,600.00 340.00 1,440.00 19,206.72 1,449.35 350.00 9,435.50 20,259.83 26,571.36 6,402.41 31,441.23 4,120.46 A-1,1-A $ 145,23934 See accompanying notes.
Exhibit A-3 Page 1 of 5 CURRENT FUND STATEMENT OF APPROPRIATIONS - REGULATORY ACCOUNTING BASIS Year ended December 31,2009 GENERAL APPROPRIATIONS Operations - Within "CAPS" --o;iginal 8uQfL~.Appropriations Budget After Modifications Paid or Charged Expended Reserved Unexpended Balance S:::ancelled GENERAL GOVERNMENT General Administration Salaries and Wages Other Expenses Mayor and Council' Salaries and Wages Other Expenses Municipal Clerk: Salaries and Wages Other Expenses Financial Administration (Treasury) Salaries and Wages Other Expenses Audll Services Other Expenses Revenue Administration {Tax Collection) Salaries and Wages Other Expenses Tax Assessment Administration Salaries and Wages Other Expenses Legal Services: Other Expenses Engineering Services' Other Expenses Downtown Redevelopment Salaries and Wages Other Expenses Historical Sites Office: Salaries and Wages Other Expenses Land Use Administration' Planning and Zoning Board of Adjustment Salaries and Wages Other Expenses $ 62,00000 29,850.00 19,92200 3,700,00 67,129.00 16,450,00 67,623_00 12,990.00 19,500.00 44,924.00 7,675,00 32,748.00 2,550.00 118,062.00 65,000.00 1.00 4,500,00 1,200_00 14,250.00 15,000.00 18,750,00 $ 62,552,00 40,298.00 19,922,00 2,490.00 59,129.00 16,450,00 62,223.00 16,490,00 19,500.00 38,68900 9,675.00 35,983.00 3,700.00 111,062.00 60,000,00 1.00 1,500,00 1,20000 12,050,00 15,000.00 12,050,00 $ 62,552.00 37,115.91 19,921.67 1,945,48 57,206.07 14,236,44 62,223.00 15,128.46 19,500.00 38,538.35 6,511,85 35,383.49 3,400,44 110,825.71 43,255.32 609.00 1,200.00 9,863.00 14,308.49 5,730,42 $ 197,09 0_33 174_52 1,922.93 568.56 62_54 150_65 2,396_15 599.51 44.56 236.29 16,744.68 1.00 441_00 762,00 691.51 4,444,58 $ 2,985.00 370,00 1,645.00 1,299,00 767.00 255.00 450.00 1,425,00 1,875.00 INSURANCE General liability Workmen's Compensation Employee Group Health 108,600.00 152,186.41 840,440.00 108,60000 152,186.41 956,240.00 108,523,12 152,186.40 956,240.00 76.88 0.01 PUBLIC SAFETY Municipal Court Salaries and Wages Other Expenses Public Defender: Other Expenses Police Department Salaries and Wages Other Expenses 93,759.00 16,010 00 6,500,00 2,344,560.03 250,913.00 96,019.00 15,310.00 6,500.00 2,395.56003 215,913.00 95.908.42 13,68820 6.500.00 2,392,386.43 176,801.22 110.58 21.80 3,173.60 14,021.78 1,600,00 25_090,00 See accompanying notes
ExhibitA-3 Page 2 of 5 CURRENT FUND STATEMENT OF APPROPRIATIONS REGULATORY ACCOUNTING BASIS Year ended December 31,2009 GENERAL APPROPRIATIONS Operallons - Within "CAPS" PUBLIC SAFETY (CONTINUED) Office 01 Emergency Management Salanes and Wages Other Expenses Aid to Volunteer Squad: Other Expenses Fire' Other Expenses Uniform Fire Safety: Salanes and Wages Other Expenses Municipal Prosecutor's Office: Other Expenses Al?p!opriatio~ Original Budget After ~~ Modifications 3.50000 3,500.00 5,00000 5,000.00 25,00000 25,000,00 160,850.00 160,850.00 41,813.00 44,813,00 13,100,00 9,997,00 10,051.00 10,05100 Expe!l_9. 'd Unexpended Paid or Balance Charged Reserved Cancelled 2,750.00 750.00 70.66 4,429.34 500.00 25,000,00 142,924,94 1,840,06 16,085.00 44,813.00 5,271.45 3,415.55 1,310.00 10,000.12 50.88 PUBLIC WORKS Railroad Parking Salaries and Wages Other Expenses Streets and Road Maintenance' Salaries and Wages Other Expenses Shade Tree Commission Salaries and Wages Other Expenses Solid Waste Collection' Salaries and Wages Other Expenses Buildtngs and Grounds Salaries and Wages Other Expenses Vehicle Maintenance' Salaries and Wages Other Expenses HEALTH AND HUMAN SERVICES Public Health Services (Board of Health) Salaries and Wages Other Expenses Environmental Health Services: Salaries and Wages Other Expenses WelfarefAdministration of Public Assistance' Other Expenses 104,00000 79,00000 141,608.00 166,60800 286,805.80 286.80580 84,225,00 84,225.00 1,200,00 1.200.00 7,165.00 7,165.00 2,90000 2,900.00 675,500.00 665,200.00 136,898.00 140,298,00 50,500.00 47,100.00 39,681.00 39.681.00 25,00000 25,00000 4,00000 4.00000 67.671.00 71,671.00 1.200.00 100,00 10000 50,00 50.00 70.096,17 8,903.83 150,211,64 16.396,36 284.827.67 1,978.13 75.663.44 136,56 8,425.00 1,000.00 200.00 5,963.33 485.67 716.00 2,900.00 661,743.92 3,456,08 140,164.86 133.14 42,037,12 12,88 5,050.00 39,679.84 1.16 20.682.76 1.817.24 2,500.00 4,000,00 68,317.97 3,353.03 100,00 50.00 PARK AND RECREATION Recreation ServICes and Programs' Salaries and Wages Other Expenses 25,00000 12,000.00 30,500.00 25,500.00 12,000.00 19,149.25 3,300.75 3,050.00 See accompanying notes
Exhigl1.AJ: Page 3 of 5 CURRENT FUND STATEMENT OF APPROPRIATIONS- REGULATORY ACCOUNTING BASIS Year ended December 31, 2009 GENERAL APPROPRIATIONS Operations - Within "CAPS" Original Budget Appropriations Budget After Modifications Paid or Charged fo_)(~~~~ Feserveg Unexpended Balance Canc~l Q OTHER COMMON OPERATING FUNCTIONS Accumulated Sick Leave Salary and Wage Adjustment 9,000.00 50,00000 9,000.00 12,500.00 9,000.00 12,500.00 STATE UNIFORM CONSTRUCTION CODE OFFICIALS Construction Code Official Salaries and Wages Other Expenses Division of Property Maintenance Salaries and Wages Other Expenses 136,033,00 17,30000 14,000.00 365,00 136,033,00 14,800.00 14,383.00 85,00 135,859.13 9,463.02 14,171.79 49.04 173.87 3,606,98 211.21 0,96 1,730.00 35,00 UTILITY EXPENSE AND BULK PURCHASES Utilities Street Lighting 316,500,00 145,000.00 272,500,00 145,000_00 246,691.09 135,384,49 25,808.91 9,615.51 Total Operations Within "CAPS" 7,068,308.24 7,068,308.24 6,832,575.~ 158,570,65 77, 162,00 Contingent 1,000.00 1,000.00 ----- 1,000.00 Total Operations Including Contingent Within "CAPS" 7,069,308.24 7,069,308.24 6,832,575.59 159,570,65.. ~!--.-!~~,OO Detail Salaries and Wages Other Expenses 3,545,896 83 3,523,411,41 3,550,891.83 3,518,416,41 3.531,890,38 3,300.68521 19,001,45 140,56920 77,162,00 Deferred Charges and Statutory Expenditures.. Municipal - Within "CAPS" Deferred Charges Emergency Authorizations Expenditure Without Appropriation Overexpenditure of Appropriation Reserves 100,000.00 3,641,19 35,421.35 100,000,00 3,641.19 35,421.35 100.00000 3.641,19 35.421,35 Statutory Expenditures: Contribution To: Pubhc Employees' Retirement System Social Security System (0 A S I ) Police and Firemen's Retirement System 79,346.00 115,000,00 233,165.50 79,346.00 115,00000 233,165.50 79,346.00 106,689,99 233,165,50 8,310.01 Total Deferred Charges and Statutory Expenditures - Municipal - Within "CAPS" 566,574.04 566,574,04 558,264.03 8,310,01 ----- Total General Appropriations for Municipal Purposes Within "CAPS" 7,635,882.28 7,635.882.28 7,390,839;62 167,880.66 77,162.00 See accompanying notes
Exhibit 6::.~ Page4of5 CURRENT FUND STATEMENT OF APPROPRIATIONS - REGULATORY ACCOUNTiNG BASIS Year ended December 31, 2009 GENERAL APPROPRIATIONS Operations - Excluded From "CAPS" Appropriations Original -~dgetafter Paid or Budge! Modifications Charged Expended Reserved Unexpended Balance G ncelied Monmouth County 911 Program Mainlenance of Joint Free Public library Length of Service Award Program 10,000.00 10,ODO.OO 7,939.52 360,132_00 360,132.00 360.132.00 54,000,00 5~000.00 ----- 2,06048 54,000,00_ Total Other Operations Excluded From "CAPS" ~?3 00 424,132.00 _~~,071.52 56,060.48 INTERLOCAL MUNICiPAL SERVICE AGREEMENTS HAM Program - Aberdeen Township 21,525.00 21,525,00 19,245.00 2,280.00 Total Interiocal Municipal Service Agreements 21,525.00 21,525.00 19,245.00 2,280,00 PUBUC AND PRIVATE PROGRAMS OFFSET BY REVENUES Clean Communities Program Body Armor Fund Alcohol Education and Rehabilitation Fund Recycling Tonnage Grant NJ DCA Smart Future Grant Stormwater Management Pro9ram CDGB Historic Sites 496.13 496.13 496,13 2,238.45 2,238.45 2,238.45 1,178.00 1,178_00 1,178.00 8,626,11 8,626,11 8,62611 6,80000 6,80000 6,800.00 4,234,00 4,234,00 4,234,00 187,106.00 187,106.00 187,10600 2,00?_22. 2,000.00 2,00000 Total Public and Private Pro9rams Offset By Revenues ~2.~.2?8-69 212,678_69 212,678.69 Total Operations - Excluded From "CAPS" 658,335.69 658,335_69 599,995.21 " 58,34g.48 Detail: Other Expenses 658,335.69 658,335.69 599,995.21 58,340,48 Capilallmprovements - Excluded From "CAPS" Capitallmprovemenl Fund. 45,000.00 45,000.00 ~OOOOO Total Capital Improvements - Excluded From "CAPS" 45,000.00 45,000.00 45,00,Q. 00 Municipal Debt Service - Excluded From "CAPS" Payment of Bond Principal Payment of Bond Anticipation Notes and Capital Notes Interest on Bonds Interest on Notes Green Trust Loan Repayment for Principal and Inlerest Capital lease Obligations Approved Prior to 07112/07: Principal Interest 627,385.00 62T,385.00 627,385.00 9,300.00 9,30000 364,250,00 364,250,00 364,240.06 3'1,000 00 37,00000 36,467_18 18,345.00 18,34500 18,344,04 143,400,00 143,400,00 143,400,00 39,250_00 39,250.00 ~66178 ------ 9,300,00 9.94 532,82 0,96 _,J,588,22,. Total Municipal Debt Service - Excluded From "CAPS" 1,238,930.00 1,238,930.00 1,227,498.06 11,431.94 See accompanying notes
COUN1Y OF MONMOUTH, NEW JERSEY Exhibit A 3 Page 5 of 5 CURRENT FUND STATEMENT OF APPROPRIATIONS - REGULATORY ACCOUNTING BASIS Year ended December 31,2009 GENERAL APPROPRIATIONS Operations - Excluded From "CAPS" Original Budget Appropriations Budget After Modifications Expende~_._._._. Paid or Charged Res~lY~Q Unexpended Balance Q9.Dfm~ Deferred Charges - Municipal- Excluded From "CAPS" Emergency Authorizations Special Emergency Authorizations - 5 Years (N J.S. 40A:4-55) 210,000.00 58,360,00 210,000,00 58,360,00 210,000,00 58.360,00 T olal Deferred Charges - Municipal - Excluded From "CAPS" 268,36000 268,360.00 268.360.00 Total General Appropriations for Municipal Purposes - Excluded From "CAPS" 2,210,625.69 2,210,625.69 2,140,853,27 58,340,48 11,431,94 Subtotal General Appropriations 9,846,507,97 9,846,507.97 9,531,692.89 226,221,14 88,593.94 Reserve for Uncollected Taxes 72,589.70 72,589.70 72.589.70 ---- Total General Appropriations $ 9,919,097.67 $ 9,919,09767 $ 9,604,282.59 $ 226,221.14 $ 88,593.94 Reference A-3 A A-3 Budget as Adopted Special Item of Revenue A-2 M $ 9,731,991.67 187,106,00 $ 9,919,097.67 Analysis of Paid or Charged: Reserve for Uncollected Taxes Cash Disbursements Encumbrances Payable Deferred Charges' Emergency Authorizations Special Emergency Authorizations Reserve for Appropriated Grants A-2 1-A 10-A 25-A 8-A 20-A $ 72,589.70 8,655,853,81 255,737.85 349,062.54 58,360.00 212,678.69 $ 9,604,282.59 See accompanying notes
TRUST FUND EXHIBIT
Exhibit B TRUST FUND COMPARATIVE 8ALANCE SHEET - REGULATORY ACCOUNTING 8ASIS December 31,2009 and 2008 Assets Reference 2009 2008 Liabilities and Reserves Reference 2009 2008 Animal Control Trust Fund: Animal Control Fund: Due To State of New Jersey 2-8 $ 8.40 $ 6.00 Reserve For Animal Control Fund Expenditures 3-8 1,395.44 814.34 Cash 1-8 $ 1,403.84 $ 820.34 1,403.84 820.34 Other Trust Funds: Other Trust Funds: Prepaid Railroad Permits 6-8 179,16000 199,320.00 Due To Current Fund 4-8 5,409.76 5,409.76 Various Reserves 5-8 920,998.09 1,007,818.27 Cash 1-8 1,105,567.85 1,212,548.03 1,105,567.85 1,212,548.03 Payroll Agency Fund: Payroll Agency Fund: Payroll Deductions Payable 8 69,210.49 22,557.92 Due To Current Fund 8 9.089.72 Cash 8 69,210.49 31,647.64 69,21049 31,647.64 Length of Service Award Program Length of Service Award Program Fund ("LOSAP") - Unaudited: Fund ("LOSAP") - Unaudited: Investments 7-B 231,686.75 162,317.05 MisceHaneous Reserves 8-8 231,686.75 162,317.05 Total Assets $ 1,407,868.93 $ 1,407,333.06 Total Liabilities and Reserves $ 1,407,868.93 $ 1,407,33306 See accompanying notes
GENERAL CAPITAL FUND EXHIBITS
Exhibit C GENERAL CAPITAL FUND COMPARATIVE BALANCE SHEET ~ REGULATORY ACCOUNTING BASIS December 31, 2009 and 2008 Ass\1.~ Reference 2009 2008 Liabilities Reserves and Fund Balance Reference 2009 2008 Cash 1~C Special Emergency Note C, 1~C Due From: State of NJ Department of Transportation 9-C Monmouth County Improvement Authority 11~C Current Fund 10~C Water/Sewer Utility Capital Fund 12~C Deferred Capital Lease Obligations 14~C Deferred Charges to Future Taxation: Funded 3~C Unfunded 4~C Total Assets Serial Bonds Payable Bond Anticipation Notes $ 180,269,59 $ 78,610,46 Green Trust Loan Payable 100,00000 150,000,00 Capita! Lease Obligation Payable Improvement Authorizations: 37,500,00 37,500,00 Funded 8,332,90 19,424,65 Unfunded 155,60831 254,108,31 Reserve For: 601,810,65 601,810,65 Encumbrances 684,30000 827,700,00 State of NJ Department of Transporation Capital Improvement Fund 7,611,237,84 8,252,71521 Due To Water/Sewer Utility Operating Fund 4,122,21901 4,122,219,01 Fund Balance $ 13,501,278.30 $ 14,344,08829 Total Liabilities, Reserves and Fund Balance 5~C $ 7,409,241,00 $ 8,036,62600 6-C 2,437,00000 1,772,000,00 13~C 201,996,84 216,089,21 14~C 684,30000 827,700,00 7~C 140,443,83 408,655,88 7~C 1,667,005,94 2,603,082,54 15~C 820,757,58 380,90155 9~C 37,50000 37,500,00 8~C 102,34429 57,344,29 C 633,01 633,01 C~1 5581 3,555,81 $ 13,501,27830 $ 14,344,088,29 See accompanying notes.
Exhibit C-1 GENERAL CAPITAL FUND COMPARATIVE STATEMENT OF FUND BALANCE REGULATORY ACCOUNTING BASIS Years ended December 31, 2009 and 2008 Reference Balance, December 31,2008 C $ 3,555.81 Decreased By: Anticipated in Current Fund Budget 10-C 3,500.00 Balance, December 31, 2009 C $ 55.81 See accompanying notes.
WATER/SEWER UTILITY FUND EXHIBITS
Exhibit 0 WATER/SEWER UTILITY FUND COMPARATIVE BALANCE SHEET - REGULATORY ACCOUNTING BASIS December 31. 2009 and 2008 Assets.B.~f~re!]gg 2009 2008 Liabilities Reserv_~~..?nd Fund Balances Reference ;?9lm 2008 Operating Fund: Appropriation Reserves 0-5,6-0 $ 85,929.75 $ 94,108.40 Operating Fund: Reserve for Encumbrances 7-0 54,072.21 128,622.46 Cash 1-0 $ 150,206.56 $ 219,047.34 Reserve to Pay BANs 0-5 18,900,00 Change Fund 0 50.00 50.00 Customer Overpayments 20-0 6,309.94 4,827.71 Interfunds Receivable 15-0,16-0,17-0 136.229.52 161,229.52 Interfunds Payable 0 50,179.25 Accrued Interest on Bonds, Notes 286,486.08 380,326.86 and loans 8-0 73,232.00 64,508.07 238~443.90 342,245.89 Receivables With Full Reserves: Reserve for Receivables 0 134,768.52 123,534.69 Consumer Accounts Receivable 3-D _..~,,;?4,768.52 123,534.69 Fund Balance 0-1 48,042.18 38,080.97 182,810.70 161,615.66 Total Operating Fund 421,254.60 503,861.55 Total Operating Fund 421,254.60 503,861.55 Assessment Trust Fund: Due To Water/Sewer Utility Operating Fund 17-0 205.98 205.98 Assessment Trust Fund: Reserve for Assessments Cash 1-0 5,165.67 5,165.67 Receivable 21-0 28,141.00 28.141.00 Assessments Receivable 19-0 28,141.00 28,141.00 Fund Balance 0-3 4,959.69 4,959.69 Total Assessment Trust Fund 33,306.67 33,306.67 33,306.67 33.306.67 Capital Fund: Serial Bonds 13-0 3.188,759.00 3,361,374.00 Bond Anticipation Notes 14-0 2,335,000.00 2,135,000.00 State of N.J. Environmental Infrastructure loan Payable 22-0 1,833,944.92 1,967,276.22 Reserve for Encumbrances 23-0 211,802,91 59,523.04 Improvement Authorizations: Funded 9-0 11,365.52 11,365.52 Capital Fund: Unfunded 9-0 6,762,069.94 895,045.12 Cash and Cash Equivalents 1-0 602,247.81 480,691.82 Capital Improvement Fund 10-0 55,000.00 55,00000 Interfunds Receivable 24~0 777,251.30 Interfunds Payable 25-0,26 0 737,201.18 762,201,18 Fixed Capital 4-0 18,389,536.60 18,389,536.60 Reserve for Amortization 11-0 12,343,226.81 12,037,280.51 Fixed Capital Authorized and Oeferred Reserve for Amortization 12-0 11,365.52 11,365.52 Uncompleted 5-0 8,498,009.65 1.648,009,65 Fund Balance 0-2 58.26 58.26 Total Capital Fund 27,489,794.06 21,295,489.37 Total Capital Fund 27,489,794.06 21,295,489.37 T olal Assets $ 27,944,~5.33 $ 21,832,657.59 Totalliabililies, Reserves and Fund Balances $ 27,944,355.33 $ 21,832,657.59 See accompanying notes
Exhibit D-1 WATER/SEWER UTILITY OPERATING FUND COMPARATIVE STATEMENT OF OPERATIONS AND CHANGES IN FUND BALANCE REGULATORY ACCOUNTING BASIS Years ended December 31,2009 and 2008 Reference 2009 2008 Revenue and Other Income Realized: Fund Balance Utilized D-4 $ 38,000.00 $ 88,000.00 Water and Sewer Rents and Charges 3-D 4,130,507,48 4,261,423.16 Miscellaneous Revenue 1-D 40,500.58 59,455.76 Water/Sewer Utility Capital Fund Balance D-1 2,600.00 Accrued Interest Cancelled 8-D 14,908.36 Appropriation Reserves Cancelled D-1 30,000.00 Reserve for Debt Service - Capital Fund D-1 24,000.00 Miscellaneous Revenue Not Anticipated D-1 9,424.07 Other Credits To Income: Unexpended Balance of Appropriation Reserves 6-D 104,626.87 1,701.36 Total Revenue 4,328,543.29 4,476,604.35 Expenditures: Operating D-5 3,644,153.00 3,622,209.00 Debt Service D-5 585,429.08 556,156.76 Deferred Charges D-5 51,000.00 50,300.00 Surplus (General Budget) D-1 210,000.00 4,280,582.08 4,438,665.76 Excess in Revenue D-1 47,961.21 37,938.59 Fund Balance, January 1 D 38,080.97 88,142.38 86,042.18 126,080.97 Decreased By: Utilized as Anticipated Revenue D-1 38,000.00 88,000.00 Fund Balance, December 31 D $ 48,042.18 $ 38,080.97 See accompanying notes.
Exhibit D-2 WATER/SEWER UTILITY CAPITAL FUND COMPARATIVE STATEMENT OF FUND BALANCE REGULATORY ACCOUNTING BASIS Years ended December 31,2009 and 2008 Reference Balance, December 31, 2009 and 2008 D $ 58.26 See accompanying notes.
Exhibit 0-3 WATER/SEWER UTILITY ASSESSMENT TRUST FUND COMPARATIVE STATEMENT OF FUND BALANCE REGULATORY ACCOUNTING BASIS Years ended December 31,2009 and 2008 Reference Balance, December 31, 2009 and 2008 o $ 4,959.69 See accompanying notes.
Exhibit D-4 WATER/SEWER UTILITY OPERATING FUND STATEMENT OF REVENUES - REGULATORY ACCOUNTING BASIS Year ended December 31,2009 Budget Realized Excess/ (Deficit) Fund Balance Anticipated $ 38,000.00 $ 38,000.00 Water/Sewer Rents 4,260,000.00 4,130,507.48 Miscellaneous 59,000.00 40,500.58 $ 4,357,000.00 $ 4,209,008.06 Reference D-5 D-1 $ (129,492.52) (18,499.42) $ (147,991.94) D-4 Analysis of Miscellaneous Revenue Not Anticipated Interest on Delinquent Accounts $ 40,500.58 See accompanying notes.
Exhibit D-5 WATER/SEWER UTILITY FUND STATEMENT OF EXPENDITURES REGULATORY ACCOUNTING BASIS Year ended December 31,2009 Aeeroeriations Original Budget After Paid or Budget Modifications Charged Reserved Cancelled Operating: Salaries and Wages $ 690,147.68 $ 690,147.68 $ 680,243.74 $ 9,903.94 Other Expenses 1,007,254.32 1,157,254.32 1,051,29051 30,963.81 $ 75,000.00 Acquisition of Water 455,000.00 455,000.00 435,317.67 19,682.33 Bayshore Regional Sewerage Authority 1,566,751.00 1,416,751.00 1,393,52207 23,228.93 Total Operating 3719,153.00 3,719,153.00 3,560,373.99 83,779.01 75,000.00 Debt Service: Payment on Bond Principal 172,615.00 172,615.00 172,614.87 0.13 Payments on Notes 18,900.00 18,900.00 18,900.00 interest on Bonds 160,000.00 160,000.00 160,000.00 Interest on Notes 49,000.00 49,000.00 49,000.00 Water Treatment Loan: Principal 133,332.00 133,332.00 131,91421 1,417.79 Interest 53,000.00 53,000.00 53,000.00 Total Debt Service 586,847.00 586,847.00 585,429.08 1,417.92 Statutory Expenditures: Contributions To: Social Security System (OAS.I.) 51,000.00 51,000.00 48,849.26 2,150.74 Total Statutory Expenditures 51,000.00 51,00000 48,849.26 2,150.74 Total Water/Sewer Utility Appropriations $ 4,357,000.00 $ 4,357,000.00 $ 4,194,652.33 $ 85,929.75 $ 76,417.92 Reference D-4 D-4 D D-5 Cash Disbursed 1-D $ 3,859,680.12 Reserve for Encumbrances 7-D 54,07221 Accrued Interest 8-D 262,000.00 Reserve for BAN Principal D 18,900.00 $ 4,194,652.33 See accompanying notes.
PUBLIC ASSISTANCE FUND EXHIBIT
Exhibit E PUBLIC ASSISTANCE FUND COMPARATIVE BALANCE SHEET - REGULATORY ACCOUNTING BASIS December 31, 2009 and 2008 Assets Reference 2009 2008 Reserves Reference 2009 2008 Cash E $ 000 $ 2,473.46 Reserve for Public Assistance E 0.00 $ 2,473.46 Total Assets $ 000 $ 2,473.46 Total Reserves $ 0.00 $ 2,473.46 See accompanying notes.
GENERAL FIXED ASSETS ACCOUNT GROUP EXHIBITS
Exhibit F GENERAL FIXED ASSETS ACCOUNT GROUP COMPARATIVE STATEMENT OF GENERAL FIXED ASSETS REGULATORY ACCOUNTING BASIS December 31, 2009 and 2008 Balance December 31, Reference 2009 Land 1-G $ 4,540,000.00 Buildings and Improvements 1-G 4,081,908.00 Machinery, Equipment and Vehicles 1-G 4,236,149.95 Total General Fixed Assets $ 12,858,057.95 Investment in General Fixed Assets 1-G $ 12,858,057.95 Balance December 31, 2008 $ 4,540,000.00 3,993,300.00 4,214,687.95 $ 12,747,987.95 $ 12,747,987.95 See accompanying notes.
NOTES TO FINANCIAL STATEMENTS
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 1, Summary of Significant Accounting Policies A. Reporting Entity The Governmental Accounting Standards Board ("GASB") is the accepted standard-setting body for establishing governmental accounting and financial reporting principles, GASB has adopted accounting statements to be used by governmental units when reporting financial position and results of operations in accordance with accounting principles generally accepted in the United States of America ("GAAP"), The municipalities in the State of New Jersey do not prepare financial statements in accordance with GAAP and thus do not comply with all of the GASB pronouncements, The financial statements of the Borough of Matawan, County of Monmouth, New Jersey ("Borough") include every board, body, officer or commission maintained wholly or in part by funds appropriated by the Borough, as required by the provision of N,J,S, 40A:5-5, The financial statements, however, do not include the operation of School Boards, Volunteer Fire Departments/Fire Districts and First Aid Squads which are subject to separate audit and are considered component units under GAAP, Included within the financial statements are taxes levied, collected and turned over to School Boards and appropriations for contributions to Volunteer Fire Departments and First Aid Squads, Complete financial statements of the above component units can be obtained by contacting the Treasurer of the respective entity, The financial statements of the Board of Education, the Matawan-Aberdeen Public Library, First Aid Organization and Volunteer Fire Companies are reported separately since their activities are administered by separate boards, B, Description of Funds GASB is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. GASB Codification establishes three fund types to be used by general purpose governmental units when reporting financial position and results of operations in accordance with GAAP, The accounting policies of the Borough conform to the accounting principles and practices applicable to municipalities prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, The accompanying financial statements are presented in the format prescribed by the State of New Jersey, Such principles and practices are designed primarily for determining compliance with legal provisions and budgetary restrictions and are a means of reporting on the stewardship of public officials with respect to public funds, Under this method of accounting, the Borough accounts for its financial transactions through the following separate funds: Current Fund - is used to account for all revenues and expenditures applicable to the general operations of Borough departments, Trust Funds - are used to account for assets held by the Borough in a trustee capacity or as an agent for individuals and other governmental agencies. Funds held by the Borough which have restrictions placed on the use of such funds are recorded in the Trust Fund,
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 1. Summary of Significant Accounting Policies (continued) B. Description of Funds (continued) General Capital Fund - is used to account for financial resources to be used for the acquisition of general capital facilities. The major resources are derived from the sale of serial bonds and bond anticipation notes. Water/Sewer Utility Operating and Capital Funds - are used to account for water/sewer operations that are financed through user fees. The funds are operated on a basis similar to private business enterprises where the intent is that the costs of providing the water/sewer utility to the general public be financed through user fees. Operations relating to the acquisition of water/sewer capital facilities are recorded within the Water/Sewer Utility Capital Fund. Public Assistance Fund - is used to account for resources restricted in use for the general welfare of citizens living within the Borough. General Fixed Assets Account Group - The Borough has complied with Technical Accounting Directive No. 85-2 issued by the Division of Local Government Services. Technical Accounting Directive No. 85-2 utilizes the following accounting policies: Fixed assets used in governmental operations (general fixed assets) are accounted for in the General Fixed Assets Account Group. Public domain (infrastructure) general fixed assets consisting of certain improvements other than buildings, such as roads, bridges, curbs and gutters, streets and sidewalks and drainage systems are not capitalized. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available, except for land which is valued at estimated market value. No depreciation is provided for in the financial statements. Expenditures for construction in progress are recorded in the Capital Funds until such time as the construction is completed and put into operation. Fixed assets acquired through grants in aid or contributed capital are not accounted for separately.
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 1. Summary of Significant Accounting Policies (continued) C. Measurement Focus, Basis of Accounting and Basis of Presentation The accounting principles and practices prescribed for municipalities by the Division of Local Government Services differ in certain respects from GAAP applicable to local government units. The more significant differences follow. A modified accrual basis of accounting is followed by the Borough. accrual basis follow: Modifications from the Revenues Revenues are recorded as received in cash except for statutory reimbursements and grant funds, which are due from other governmental units, State and federal grants for operating purposes are realized as revenues when anticipated in the Borough budget. Receivables for property taxes are recorded with offsetting reserves within the Current Fund. Other amounts that are due to the Borough which are susceptible to accrual are recorded as receivables with offsetting reserves. These reserves are liquidated and revenues are recorded as realized upon receipt of cash. GAAP requires the recognition of revenues for general operations in the accounting period in which they become available and measurable. Expenditures (a) (b) (c) (d) Disbursements for Current Fund inventory-type items are considered expenditures at the time of purchase; Prepaid expenses are not recorded; Interest on long-term debt included in the General Capital Fund is recorded as an expenditure when paid; The encumbrance method of accounting, which records commitments such as purchase orders and contracts as a charge against the current year's budget in addition to expenditures made or accrued, is utilized. The cash basis of accounting, however, is followed for recording the Borough's share of contributions for fringe benefits, such as retirement plans, accrued sick leave and vacation leave. Appropriation reserves are recorded at December 31 for unexpended appropriation balances except for amounts which, according to state statutes, may be cancelled by the governing body. The appropriation reserves are available to satisfy specific claims, commitments or contracts incurred during the preceding fiscal year, At the end of the succeeding fiscal year, the remaining unexpended balances lapse to fund balance through other credits to revenue.
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 1. Summary of Significant Accounting Policies (continued) C. Measurement Focus, Basis of Accounting and Basis of Presentation (continued) Had the Borough's financial statements been prepared under generally accepted accounting principles, the encumbrance method of accounting would be followed for expenditures presently reflected on a paid or charged basis, appropriation reserves would not be recorded, revenues susceptible to accrual would have been reflected without offsetting reserves and inventories would not be reflected as expenditures at the time of purchase. Accordingly, the accompanying financial statements are not intended to present financial position and results of operations in conformity with generally accepted accounting principles. D. Budgets and Budgetarv Accounflng An annual budget is required to be adopted and integrated into the accounting system to provide budgetary control over revenues and expenditures. Budget amounts presented in the accompanying financial statements represent amounts adopted by the Borough and approved by the State Division of Local Government Services in accordance with N.J.SA 40A:4 et seq. E. Grants Current Fund - State and federal grants and assistance awards made on the basis of entitlement periods are recorded as revenues when entitlement occurs. Trust Fund - State and federal grants and assistance awards are dedicated by rider in the Trust Fund. A receivable and corresponding spending reserve are recorded when the grant is awarded. Capital Fund - State and federal grants and assistance awards are recorded as a funding source for improvement authorizations or are established as receivables with an offsetting reserve.
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 1. Summary of Significant Accounting Policies (continued) F. Assessment and Collection of Property Taxes New Jersey statutes require that taxable valuation of real property be prepared by the local unit tax assessor as of October 1 in each year and filed with the County Board of Taxation by January 10 of the following year. Upon the filing of certified adopted budgets by the Local Unit, Local School District, County and Special Districts, the tax rate is struck by the County Tax Board based on the certified amounts in each of the taxing districts for collection to fund the budgets. Pursuant to statute, this process is to be completed on or before May 3, with a completed duplicate of the tax rolls to be delivered to the Local Unit Tax Collector on or before May 13. New Jersey statutes require that each local unit provide for sufficient anticipated cash receipts equal to the "lawful yearly expenditure" which includes the total amount of property taxes to be raised by the local unit. Taxes are levied on an annual basis and are due quarterly on February 1, May 1, August 1, and November 1. Any taxes not paid as of December 31 are subject to tax sale and lien in the subsequent year, with the exception of bankruptcies. The date of tax sale is at the discretion of the tax collector. G. Foreclosed Property Real property acquired for taxes is recorded in the Current Fund at assessed valuation when such property is acquired and is fully reserved. H. Interfund Receivables Interfund receivables created by cash transfers from the Current Fund are recorded with offsetting reserves created by charges to operations. Income is recognized in the year the receivables are liquidated. Interfund receivables in other funds are not offset by reserves. I. Deferred Charges to Future Taxation Funded and Unfunded Upon the authorization of capital projects, the Borough establishes deferred charges for the costs of the capital projects to be raised by future taxation. Funded deferred charges relate to permanent debt issued, whereas unfunded deferred charges relate to temporary or non-funding of the authorized cost of capital projects. According to N.J.S.A. 40A:2-4, the Borough may levy taxes on all taxable property within the local unit to repay the debt. Annually, the Borough raises the debt requirements for that particular year in the Current Fund budget. As funds are raised, the deferred charges are reduced.
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 1. Summary of Significant Accounting Policies (continued) J. Pension Plans Substantially, all Borough employees participate in the Public Employees' Retirement System ("PERS") and the Police and Fireman's Retirement System ("PFRS"). The Division of Pensions within the Treasury Department of the State of New Jersey is the administrator of the funds and charges municipalities annually for their respective contributions. The plans provide retirement and disabhity benefits, annual cost of living adjustments, and death benefits to plan members and beneficiaries. The plans are cost sharing multiple-employer defined benefit plans and as such do not maintain separate records for each municipality in the state and, therefore, the actuarial data for the Borough is not available. The Division of Pensions issues publicly available financial reports for each of the plans that include financial statements and required supplementary information. The reports may be obtained by writing the State of New Jersey, Division of Pensions. Covered employees are required by State statute to contribute a certain percentage of their salary to the plan. Each member's percentage is based on age determined at the effective date of enrollment. In addition, PERS and PFRS bill the Borough annually at an actuarially determinable rate for its required contribution. The current rate is 5.5% for PERS and 8.5% for PFRS of annual covered payroll. 2009 2008 2007 Pension Contribution Deferral PERS $ 79,346.00 103,538.40 64,158.00 PFRS $ 233,165.50 422,350.00 295,755.20 The State of New Jersey has enacted P. L. 2009, c.19, which authorizes the State Department of Treasury, Division of Pensions and Benefits to provide non-state contributing employers the option of paying an amount that represents a 50% reduction of the normal and accrued liability payment of the required contributions to PFRS and PERS which would have been due April 1, 2009. If the deferral is elected, the amount deferred must be repaid, with interest, over a period of 15 years, beginning in April, 2012; however, the contributing employer is permitted to payoff the obligation at any time by contacting the Division of Pensions and Benefits for a payoff amount. The Borough of Matawan has elected to defer a portion of its pension contributions as follows: 2009 2009 Required Amount Actual Contribution Deferred Contribution PFRS $ 448,616.00 $ 215,450.50 $ 233,165.50 PERS 142,89400 63,548.00 79,346.00 Total $ 591510QQ $ ZI8998M $ 31251150
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 1. Summary of Significant Accounting Policies (continued) K. Volunteer Length of Service Award Plan The Borough has established a Volunteer Length of Service Award Plan ("LOSAP") ("Plan") to ensure retention of the Borough's volunteer First Aid squad. The Plan shall be construed under the laws of the State of New Jersey and is established with the intent that it meets the requirements of a "length of service award plan under Section 457(e)11 of the Internal Revenue Code". Annual Contributions - The annual contribution to be made by the Borough for each active volunteer member shall be $500.00-$1,150.00 per year of active emergency service, commencing with the year 2003. Appropriations - Appropriations for the purpose of funding the Borough's LOSAP shall be included as a separate line item in the Borough's budget, commencing with the year 2003. Periodic Increases - Notwithstanding the provisions above, the annual contribution to be made by the Borough for each active volunteer member shall be subject to periodic increases based upon the "consumer price index factor" pursuant to subsection f. of section 3 of P.L. 1997, c. 388 (N.J. SA 40A:14-185). Estimated Cost - The estimated cost of the program to the Borough has been calculated to be approximately $54,000.00 per year. (This amount may vary annually, however, based upon the total number of eligible active volunteer members in the program). L. Deposits and Investments Deposits New Jersey statutes permit the deposit of public funds in institutions located in New Jersey which are insured by the Federal Deposit Insurance Corporation ("FDIC"), or by any other agencies of the United States that insure deposits, the State of New Jersey Cash Management Fund and government money market mutual funds through registered broker/dealers and banks. The New Jersey Governmental Unit Deposit Protection Act ("GUDPA") requires public depositories to maintain collateral for deposit of public funds that exceed insurance limits as follows: The market value of the collateral must equal 5 percent of the average daily balance of public funds; or If the public funds deposited exceed 75 percent of the capital funds of the depository, the depository must provide collateral having a market value equal to 100 percent of the amount exceeding 75 percent.
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 1. Summary of Significant Accounting Policies (continued) L. Deposits and Investments (continued) Deposits (continued) All collateral must be deposited with the Federal Reserve Bank, the Federal Home Loan Bank Board or a banking institution that is a member of the Federal Reserve System and has capital funds of not less than $25,000,000. The State of New Jersey Cash Management Fund is authorized by statute and regulations of the State Investment Council to invest in fixed income and debt securities which mature within one year. Collateralization of Fund investments is generally not required. Investments New Jersey statutes establish the following securities as eligible for the investment of Borough funds: (a) (b) (c) (d) (e) (f) (g) Bonds or other obligations of the United States or obligations guaranteed by the United States. Government Money Market Mutual Funds. Any obligation that a federal agency or a federal instrumentality has issued in accordance with an Act of Congress, which security has a maturity date not greater than 397 days from the date of purchase, provided that such obligation bears a fixed rate of interest not dependent on any index or other external factor. Bonds or other obligations of the Borough, or bonds or other obligations of school districts of which the Borough is a part or within which the school district is located. Bonds or other obligations, having a maturity date of not more than 397 days from the date of purchase, that are approved by the New Jersey Department of Treasury, Division of Investments. Local Government Investment Pools. Deposits with the State of New Jersey Cash Management Fund established pursuant to Section 1 of P.L. 1977, C. 281 (C.52:18A:90A).
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 1. Summary of Significant Accounting Policies (continued) L. Deposits and Investments (continued) Investments (continued) Repurchase agreements (15.1 (a)(8)) must comply with the following conditions: (a) (b) (c) (d) (e) The underlying securities are permitted investments, pursuant to the list contained in (a) and (c) above. The custody of the collateral is transferred to a third party. This means the bank must contract with a trusted third party to hold the collateral to ensure it is not pledged against any other investments. The maturity of the agreement is not more than 30 days. The underlying securities are purchased through a GUDPA bank. A master repurchase agreement providing for the custody and security of collateral is executed. Local Government Investment Pools ("LGIP") (15.1 (e)(2)) are subject to the following requirements: (a) (b) (c) It is managed in accordance with the SEC's government money rnarket rules (2a-7). It is rated in the highest category by a nationally recognized statistical rating organization. Have their portfolio limited to U.S. Government securities as defined in 2a-7 and repurchase agreements that are collateralized by such U.S. Government securities.
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 1. Summary of Significant Accounting Policies (continued) L. Deposits and Investments (continued) Investments (continued) Every local unit must have a Cash Management Plan ("Plan"); the Plan is subject to audit. In addition, when the Plan permits investments for more than one year, the investment must approximate the prospective use of funds. This primarily relates to U.S. securities and local bond issue purchases. The law also requires that cash management plans provide for the CFO to give the governing body a monthly report that summarizes: (a) (b) (c) (d) All investments made or redeemed over the past month. Each organization holding local unit funds. The amount of securities purchased or sold, class or type of securities purchased, book value, earned income, fees incurred, and market value of all investments as of the report date. Other information that may be required by the governing body. The Borough is permitted to invest public funds in accordance with N.J.SA 40A:5-15.1. These investments include bonds or other obligations of the United States or obligations guaranteed by the United States, Government Money Market Mutual Funds, bond or other obligations of the Borough or bonds or other obligations of the school district, local government investment pools, and agreements for the repurchase of fully-collateralized securities, if purchased in accordance with N.J.SA 40A:5-15.1. The Borough is also permitted to invest Length of Service Award Program ("LOSAP") funds with the types of eligible investments authorized in N.JAC. 530-14.19. These investments include interest-bearing accounts or securities in which savings banks of New Jersey are authorized to invest their funds, New Jersey Cash Management Fund, fixed and variable individual or group annuity contracts, mutual fund shares or fixed and variable life insurance contracts. M. I nventories of Supplies The costs of inventories of supplies for all funds are recorded as expenditures at the time the individual items are purchased. The costs of inventories are not included on the various balance sheets.
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 2. Deposits and Investments Deposits The carrying amount of the Borough's cash and cash equivalents at December 31, 2009 was $3,518,530.14 and the bank balance was $3,779,935.44. Of the bank balance, $250,000.00 was covered by federal depository insurance, and the remaining $3,529,935.44 was covered under the unit certificate of eligibility as required by New Jersey statutes. Bank Balance Depository Account 2009 2008 Insured: FDIC $ 250,000.00 $ 289,756.76 Collaterized: GUDPA 3,529,935.44 3,389,029.75 Custodial Credit Risk - Deposits $ 377993544 $ ;3 678 78651. Custodial credit risk is the risk that, in the event of a bank failure, the government's deposits may not be returned to it. The Borough does not have a formal policy for custodial credit risk. As of December 31,2009, the Borough's bank balance was not exposed to custodial credit risk. Investments As of December 31, 2009 and 2008, the Borough had the following investments: Investments 2009: LOSAP Fair Value $ 231 68675 Book Value $ 231686.75 2008: LOSAP I nterest Rate Risk $ 16231705 $ 16231705 LOSAP investment options are at the discretion of each individual participant and not the Borough.
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 2. Deposits and Investments (continued) Credit Risk New Jersey Statutes 40A:5-15.1 (a) limits municipal investments to those specified in the Statutes. The type of allowable investments are Bonds of the United States of America or of the local unit or school districts of which the local unit is a part of: obligations of federal agencies not exceeding 397 days; government money market mutual funds; the State of New Jersey Cash Management Plan; local government investrnent pools; or repurchase of fully collateralized securities. Concentration of Credit Risk The municipality places no lirnit on the amount the Borough may invest in anyone issuer. 3. Interfund Balances and Activity Balances due to/from other funds at December 31, 2009 consist of the following: Due to General Capital Fund from Current Fund representing a cash advance Due to Grant Fund from Current Fund representing a cash advance Due to Current Fund from Trust Fund representing a cash advance Due to Water/Sewer Utility Operating Fund from Capital Fund representing a cash advance Due to Water/Sewer Utility Operating Fund from Water/Sewer Utility Capital Fund representing a cash advance Due to Water/Sewer Utility Operating Fund from Water/Sewer Utility Assessment Fund representing a cash advance Due to Capital Fund from Water/Sewer Utility Capital Fund representing a cash advance $ 155,608.31 99,566.24 5,409.76 63301 135,390.53 205.98 601,810.65
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 4. Taxes, Water/Sewer Receivables Taxes receivable as of December 31,2009 consist of the following: Current Delinquent $ 10,195.64 $ 0.00 $ 7,016.56 $ 17,212.20 In 2009, the Borough collected $3,703.85 from Delinquent Taxes, which represented 100% of the Delinquent Tax Receivable at December 31, 2008. Taxes receivable as of December 31, 2008 consist of the following: Current Delinquent $ 3,703.85 $1,228.39 $ 3,884.61 $ 8,816.85 Water/Sewer Utility Water/Sewer Utility Receivables as of December 31, 2009 consist of the following: Current Delinquent $ 134,768.52 $ 0.00 $ 0.00 $ 134,768.52 In 2009, the Borough collected $123,534.69 from Water/Sewer Utility Rents, which represented 100% of the Water/Sewer Utility Rents Receivable at December 31, 2008. Water/Sewer Utility Receivables as of December 31,2008 consist of the following: Current Delinquent $ 123,534.69 $ 0.00 $ 0.00 $ 123,534.69 In 2008, the Borough collected $169,797.08 from Water/Sewer Utility Rents, which represented 100% of the Water/Sewer Utility Rents Receivable at December 31, 2007.
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 5. Fixed Assets The following is a summary of changes in the General Fixed Assets Account Group for the years 2009 and 2008. Balance, Balance, December 31, December 31, 2009 2008 Additions Deletions 2009 Land and Land Improvements $ 4,540,000.00 $ 4,540,000.00 Building and Building Improvements 3,993,300.00 $ 88,608.00 4,081,908.00 Machinery and Equipment 4,214,687.95 21,462.00 4,236,149.95 Total $ 12747,987.95 ti10070.00 $ o 00 $ 1285805795 Balance, Balance, December 31, December 31, 2008 2007 Additions Deletions 2008 Land $ 4,540,000.00 $ 4,540,000.00 Building 3,993,300.00 3,993,300.00 Machinery and Equipment 3.920,165.51 $ 294,522,44 4,214,687.95 Total ~ 1245346551 i...294 522,44 $ O.QQ $ 1274798795
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 6. Long-Term Debt (continued) The Borough's long-term debt consisted of the following at December 31, 2009: Purpose Date of Issue Original Issue Interest Rate Balance, December 31, 2009 General Bonds General Improvement General Improvement General Improvement Refunding Bonds 12/01/00 12/01/04 12/01/05 04/12107 $ 2,496,000.00 1,277,000.00 3,790,000.00 3,920,425.00 Various Various Various Various $ 121,816.00 966,000.00 2,923,000,00 3,398,42500 $7409241,00 WaterlSewer Utility Bonds WaterlSewer Improvement WaterlSewer Improvement WaterlSewer Improvement Refunding Bonds 12/01/00 12/01/04 12/01/05 04/12/07 $ 721,000.00 2,876,000.00 468,000.00 454,575.00 Various Various Various Various $ 35,184,00 2,396,000,00 303,000.00 454,575,00 $ 3 188 75l;l00 Debt Service requirements for bonded debt during the next several years are as follows: General Capital Fund Year Principal Interest Total 2010 $ 683,816.00 $ 338,636,50 $ 1,022,452,50 2011 707,166,00 311,228,02 1,018,394,02 2012 732,920,00 279,531,38 1,012,451,38 2013 761,459,00 246,684.58 1,008,143.58 2014-2018 3,692,465,00 679,939,10 4,372,404.10 2019-2023 831,415,00 44,526.26 875,941.26 ~09241,OO ~ 1,9QO 545.84 ~ 9 309,786,84
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 6. Long-Term Debt (continued) Water/Sewer Utility Capital Fund Year Principal Interest 2010 2011 2012 2013 2014-2018 2019-2023 2024 $ 176,184.00 179,834.00 183,080.00 186,541.00 1,201,535.00 1,069,585.00 192,000.00 $ 153,885.26 146,959.98 138,336.62 129,563.42 500,306.90 200,120.00 9,60000 $ 330,069.26 326,793.98 321,416.62 316,104.42 1,701,841.90 1,269,705.00 201,600.00 $ 3 188 7.5.9.llQ $ 1,278772.18 H467531.18 Loans Payable On June 27, 2002, the Borough entered into a low-interest rate loan funded by the State of New Jersey Green Trust Loan Program in the sum of $295,000.00. The interest rate is 2.00% and the loan matures on January 15, 2022. The proceeds have been used to help with the Lakefront Recreation Area. On October 15, 2001, the Borough entered into loan agreements funded by the New Jersey Infrastructure Trust in the amount of $2,800,000.00 for water/sewer system improvements. $1,400,000.00 was funded by a trust loan with interest rates ranging from 4.00% to 5.00%. The remaining $1,400,000.00 was funded by a fund loan with 0.00% interest. Debt Service requirements for loans issued and outstanding during the next several years are as follows: General Capital Fund Year Principal Interest Total 2010 $ 14,375.62 $ 3,968.42 $ 18,344.04 2011 14,664.58 3,679,46 18,344.04 2012 14,959.33 3,384.71 18,344.04 2013 15,260.02 3,084.02 18,344.04 2014-2018 81,026.15 10,694.05 91,720.20 2019-2022 61,711.14 2.493.00 64,204.14 $ 201 996,81 $ 2Z 303.66 $ 229,3Q!l5,Q
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 6. Long-Term Debt (continued) Water/Sewer Utility Capital Fund Principal Interest 2010 2011 2012 2013 2014-2018 2019-2022 $ 131,376.46 137,484.20 135,154.67 141,083.23 774,325.84 514,520.52 $ 49,537.50 46,237.50 42,662.50 39,087.50 136,437.50 29,212.50 $ 180,913.96 183,721.70 177,817.17 180,170.73 910,763.34 543,73302 $183394492 $ 343 175.00 ~77119.92 Capital Lease Obligations The Borough participates in the Monmouth County Improvement Authority ("Authority") Capital Equipment Lease Program ("Program"). Under the Program, the Borough purchases equipment with the proceeds of an Authority bond issue and then pays the Authority in the form of lease payments. Debt Service requirements for Capital Lease obligations during the next several years are as follows: Year Principal Interest Total 2010 $ 150,200.00 $ 32,427.00 $ 182,627.00 2011 154,500.00 25,160.00 179,660.00 2012 160,700.00 18,980.00 179,680.00 2013 50,100.00 10,945.00 61,045.00 2014-2017 168,800.00 18,860.00 187,660.00 LJl84 ;30Q.00 ~ 106,;3Z2.00 $ 790672.00
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 6. Long-Term Debt (continued) Capital Lease Obligations (continued) The Borough adopted an ordinance on July 21, 2009, entering into a capital equipment lease with the Authority. The amount of the lease was $200,000.00, with an interest rate of 5.5%, and the final payment due on October 1, 2014. During the year ended December 31, 2009, the Borough did not make any lease payments. The following is a schedule of the future minimum lease payments under this capital lease at December 31, 2009: Year Principal Interest Total 2010 $ 31,00000 $ 3,959.00 $ 34,959.00 2011 36,000.00 3,820.00 39,820.00 2012 36,000.00 3,100.00 39,100.00 2013 26,000.00 2,380.00 28,380.00 2014 27,000.00 1,080.00 28,080.00 7. Bond Anticipation Notes $ 156000.00 $ 14339.00 $ 170,33900 The Borough issues bond anticipation notes to temporarily fund various capital projects prior to the issuance of serial bonds. The term of the notes cannot exceed one year but the notes may be renewed from time to time for a period not exceeding ten years. All such notes must be paid no later than the tenth anniversary of the date of the original note. The State of New Jersey also prescribes that, on or before the third anniversary date of the original note, a payment of an amount at least equal to the first legally payable installment of the bonds in anticipation of which such notes were issued be paid or retired. Legal installments must be paid if the notes are to be renewed beyond the fourth anniversary date of the original issuance. On December 31,2009, the Borough's outstanding bond anticipation notes were as follows: General Capital Fund Original Ordinance Issue Date of Interest Number Purpose Date Maturity Rate Amount 05-21107-24 Various Roadway Imps. 04/12/06 03/05/10 2.10% $ 361,000.00 06-24/07-031 07-43 Various Roadway Imps. 07/19/07 03/05/10 2.10% 990,000.00 06-26/07-02 Various Capital Imps. 07/19/07 03/05/10 2.10% 171,000.00 05-11/07-22 Multipark Development & Sidewalk Imps. 07/19/07 03/05/10 2.10% 250,000.00 08-19 2008 Road Imp. Program 03/05/09 03/05/10 2.10% 665,000.00 $ 2 437 OOOQQ
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 7. Bond Anticipation Notes (continued) WaterlSewer Utility Capital Fund Original Ordinance Issue Date of Interest Number Purpose Date Maturity Rate 05-20 Replacement of Water Mains 04/12/06 03/04/10 2.10% 05-22 Replacement of Water Mains 04/12/06 03/04/10 2.10% 99-13/01-19 Reconstruction & Imps. to Sewer System 07/29/08 03/04/10 2.10% 02-02 Reconstruction of Pump Stations 07/29/08 03/04/10 2.10% 02-18 Water Main & Sanitary Sewer Imps. 07/29/08 03/04/10 2.10% 08-24 Sanitary Sewer Imps. To Park Avenue 03/05/09 03/04/10 2.10% Amount $ 1,260,000.00 225,000.00 250,000.00 100,000.00 300,000.00 200,000.00 ~2,335 OOO.OQ 8. Bonds and Notes Authorized But Not Issued At December 31, 2009, the Borough had authorized but not issued bonds and notes of the General Capital Fund totaling $1,685,219.01, and of the WaterlSewer Utility Fund totaling $7,175,250.00. 9. Deferred Charges to be Raised In Succeeding Years' Budgets The following deferred charges are shown on the December 31, 2009 Current Fund Balance Sheet and will be raised in succeeding year's budgets. Special Emergency Authorization Deficit in Operations Overexpenditure of Appropriation Reserves $ 104,800.00 11,338.79 430.64
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 10. Fund Balance Appropriated Current Fund The Current Fund balance at December 31, 2009 was $486,197.00 of which $365,000.00 was appropriated and included as anticipated revenue for the year ended December 31, 2010. Water/Sewer Utility Operating Fund The Water/Sewer Utility Operating Fund balance at December 31, 2009 was $48,042.18 of which $48,000.00 was appropriated and included as anticipated revenue for the year ended December 31,2010. 11. Accrued Sick and Vacation Benefits - Unaudited As discussed in Note 1 and in accordance with accounting principles prescribed by the State of New Jersey, the cash basis of accounting is followed for recording the Borough's liability related to unused vacation and sick pay. Effective for financial statements dated December 31, 1987, the State has required all municipalities to disclose the estimated current cost of unused sick and vacation benefits at year-end. The Borough has permitted employees to accrue unused vacation and sick leave, which may be taken off or paid at a later date with the exception of sick leave. The Borough estimated the current cost of such unpaid compensation as of December 31, 2009 to be approximately $347,847.26. The amount is not reported either as an expenditure or liability. 12. Unemployment Compensation Insurance Effective January 1, 1978, most municipal employees were eligible for unemployment compensation insurance (N.J.SA 43:21-3 et seq.). The Borough has elected to provide a selfinsured plan whereby the municipal cost and employee contributions are deposited in a trust fund from which claims, if any, will be paid. All funds collected from employees are transmitted to the state for this period. The Reserve for Unemployment Compensation Insurance at December 31, 2009 and 2008 totaled $27.60 and $3,693.40, respectively.
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 13. Contingent Liabilities State and Federal Grants The Borough receives financial assistance from the State of New Jersey and the U.S. government in the form of grants. Entitlement to the funds is generally conditional upon compliance with terms and conditions of the grant agreements and applicable regulations, including the expenditure of the funds for eligible purposes. Substantially all grants, entitlements and cost reimbursements are subject to financial and compliance audits by grantors. As a result of these audits, costs previously reimbursed could be disallowed and require repayment to the grantor agency. As of December 31, 2009, the Borough estimates that no material liabilities will result from such audits. Pending Litigation There are actions, which have been instituted against the Borough which are either in the discovery stage or whose final outcome cannot be determined at the present time. In the opinion of the administration, the amount of ultimate liability with respect to these actions will not materially affect the financial position of the Borough. 14. Risk Management The Borough is exposed to various risks of loss related to torts, theft of, damage to and destruction of assets; error and omission, injuries to employees; and natural disaster. The Borough is a member of the Middlesex County Municipal Joint Insurance Fund. The joint insurance pool is both an insured and self-administered group of municipalities established for the purpose of insuring against property damage, general liability, motor vehicles and equipment liability and workmen's compensation. The Joint Insurance Fund will be selfsustaining through member premiums. The Joint Insurance Fund participates in the Municipal Excess Liability Program which has a contract for excess liability insurance for property, general liability, auto liability, public official liability, law enforcement liability and workman's compensation. 15. Post Employment Benefits In 2009, the Borough started contributing to the State Health Benefits Program ("SHBP"), a cost-sharing, multiple-employer defined benefit post-employment healthcare plan administered by the State of New Jersey Division of Pensions and Benefits. SHBP was established in 1961 under N.J.SA 52:14-17.25 et seq. to provide health benefits to State employees, retirees, and their dependents.
NOTES TO FINANCIAL STATEMENTS Years ended December 31, 2009 and 2008 15. Post Employment Benefits (continued) The SHBP was extended to employees, retirees, and dependents of participating local public employers in 1964. Local employers must adopt a resolution to participate in the SHBP. In 1991, the Township authorized participation in the SHBP's post-retirement benefit program through resolution number 91-243. Eligibility to participate in the SHBP's post-retirement benefit program begins after 25 years of credited service with the Borough. During 2009, the Borough adopted resolution number 2008-390 under the provisions of N.J.S.A. 52:14-17.38. This resolution requires that non-union employees must work 15 years or more within the Borough in order to be eligible for health benefits upon retirement. Rules governing the operation and administration of the program are found in Title 17, Chapter 9 of the New Jersey Administrative Code. SHBP provides medical, prescription drugs, mental health/substance abuse, and Medicare Part B reimbursement to retirees and their covered dependents. The State Health Benefits Commission is the executive body established by statute to be responsible for the operation of the SHBP. The State of New Jersey Division of Pensions and Benefits issues a publicly-available financial report that includes financial statements and required supplementary information for the SHBP. That report may be obtained by writing to: State of New Jersey Division of Pensions and Benefits, PO Box 295, Trenton, New Jersey 08625-0295 or by visiting their website at http://www.state.nj.us/treasury/pensions/gasb-43- sept2008.pdf. Funding Policy Participating employers are contractually required to contribute based on the amount of premiums attributable to their retirees. Post-retirement medical benefits under the plan have been funded on a pay-as-you-go basis since 1994. Prior to 1994, medical benefits were funded on an actuarial basis. Contributions to pay for the health premiums of participating retirees in the SHBP are billed to the Township on a monthly basis. Plan members or beneficiaries receiving benefits do not make any contributions. The Borough's contributions to SHBP for the year ended December 31, 2009, was approximately $415,000.00, which equaled the required contributions for the year. There were approximately 31 retired participants eligible at December 31, 2009. 16. Deferred Compensation Program The Borough has instituted a Deferred Compensation Plan ("Plan") pursuant to Section 457 of the Internal Revenue Code and P.L. 1977, C.381; P.L. 1978, C.39; PL. 1980, C.78; and P.L. 1997, C.116 of the Statutes of New Jersey. The Plan is an arrangement whereby a public employer may establish a Plan and permit its employees to voluntarily authorize a portion of their current salary to be withheld and invested in one or more of the types of investments permitted under the governing regulations. The Borough has engaged a private contractor to administer the Plan.
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 17. Length of Service Award Program ("LOSAP") - Unaudited The Borough has established a Volunteer Length of Service Award Plan ("LOSAP") ("Plan") to ensure retention of the Borough's volunteer First Aid Squad. The Plan shall be construed under the laws of the State of New Jersey and is established with the intent that it meets the requirements of a "Iength of service award plan under Section 457(e)11 of the Internal Revenue Code". Annual Contributions - The annual contribution to be made by the Borough for each active volunteer member shall be $1,150.00 per year of active emergency service, commencing with the year 2003. Appropriations - Appropriations for the purpose of funding the Borough's LOSAP shall be included as a separate line item in the Borough's budget, commencing with the year 2003. Periodic Increases - Notwithstanding the provisions above, the annual contribution to be made by the Borough for each active volunteer member shall be subject to periodic increases based upon the "consumer price index factor" pursuant to subsection f. of section 3 of P.L. 1997, c. 388 (N.JSA. 40A14-185). Criteria for Eligibility: Contributions: Points - Any active volunteer member shall eligible to participate in the LOSAP Plan immediately upon commencement of the member's performance of active voluntary services in the emergency service organization. Annual contributions shall only be made by the Borough, however, for those active volunteer members who have earned the minimum number of points for performing certain volunteer services on a yearly basis. Determination as to Eligibility - Each emergency service organization shall provide to the Borough Administrator, acting as the Plan Administrator of LOSAP Plan, a certified list as to the active volunteer members who are initially eligible to participate in the Plan and those who are eligible to participate as of each January 1 thereafter. The Plan Administrator shall forward said certified list to the Borough Council for approval, in accordance with the provisions of N.JAC. 5:30-14.10. The decision of the Borough Council as to such active member's eligibility shall be binding upon the Plan Administrator, participants, beneficiaries and any and all other persons having an interest hereunder, subject to appropriate judicial review. Terms of Participation - The Plan Administrator shall have the right to require any active volunteer member at the time of his or her becoming a participant to agree, in writing, to be bound by the terms, covenants and conditions of the LOSAP and accompanying trust. Each participant shall furnish to the Plan Administrator all pertinent information required for the administration of the LOSAP. The Plan Administrator shall rely upon all such information furnished. Vesting - The active volunteer member shall not be permitted to receive a distribution of the fund in his or her LOSAP account until the completion of a five-year vesting period.
NOTES TO FINANCIAL STATEMENTS Years ended December 31,2009 and 2008 17. Length of Service Award Program ("LOSAP") - Unaudited (continued) Termination of Service - Any participant who terminates service as an active volunteer member shall cease to participate hereunder. A former participant may resume participation immediately upon returning to the service of the emergency service organization as an active volunteer member. Any active volunteer member who terminates service with the emergency service organization, subsequently returns to service and again becomes a participant shall be treated as a new participant for purposes of eligibility unless said participant was fully vested prior to his or her termination from service. Reporting Requirements - N.JAC. 5:30-14.49 requires that the Borough perform a separate review report of the Plan in accordance with the American Institute of Certified Public Accountants Statements for Accounting and Auditing Review Services.
SUPPLEMENTARY SCHEDULES
CURRENT FUND SCHEDULES
Schedule 1-A CURRENT FUND SCHEDULE OF CASH-TREASURER Year ended December 31, 2009 Reference Balance, December 31, 2008 A $ 1,540,396.33 Increased By Receipts: Miscellaneous Revenue Not Anticipated A-2 $ 145,239.34 Due From State of New Jersey - Senior Citizens' and Veterans' Deductions 3-A 72,467.36 Taxes Receivable 4-A 24,292,694.50 Revenue Accounts Receivable 7-A 3,006,123.41 Prepaid Taxes 11-A 97,735.93 Tax Overpayments 15-A 11,973.36 Due To State of New Jersey 17-A 1,425.00 Various Reserves 18-A 1,512.76 Grants Receivable 19-A 2,000.00 Special Emergency Note Payable 24-A 100,000.00 Reserve for Unappropriated Grants 21-A 30,486.36 27,761,658.02 29,302,054.35 Decreased By Disbursements: Refund Prior Year's Tax Revenue A-1 21,720.99 Refund of Prior Year Revenue A-1 6.00 Budget Appropriations A-3 8,655,853.81 2008 Appropriation Reserves 9-A 450,628.86 County Taxes 12-A 2,708,560.86 Regional School Taxes Payable 13-A 14,972,289.64 Tax Overpayments 15-A 9,345.53 Interfunds Returned 16-A 872,251.30 Due To State of New Jersey 17-A 1,225.00 Various Reserves 18-A 38,326.09 Special Emergency Note Payable 24-A 150,000.00 Reserve for Appropriated Grants 20-A 17,587.94 27,897,796.02 Balance, December 31,2009 A $ 1,404,258.33
Schedule 2-A CURRENT FUND SCHEDULE OF CHANGE FUND Year ended December 31,2009 Reference Balance, December 31,2009 and 2008 A $ 150,00
Schedule 3-A CURRENT FUND SCHEDULE OF DUE FROM STATE OF NEW JERSEY SENIOR CITIZENS' AND VETERANS' DEDUCTIONS Year ended December 31,2009 Reference Balance, December 31,2008 A $ 750.00 Increased By: Senior Citizens' Deductions Per Billing $ 13,500.00 Veterans' Deductions Per Tax Billing 59,750.00 2009 Seniors Citizens' Deduction Allowed by Tax Collector 1,250.00 4-A Decreased By: Cash Receipts 1-A 72,467.36 Senior Citizens Deductions Disallowed by Collector: 2009 4-A 1,032.64 2008 A-1,4-A 1,250.00 74,500.00 75,250.00 74,750.00 Balance, December 31, 2009 A $ 500.00
Schedule 4-A CURRENT FUND SCHEDULE OF TAXES RECEIVABLE AND ANALYSIS OF PROPERTY TAX LEVY Year ended December 31, 2009 Balance December 31, 2009 Year 2008 Levy Senior Citizens' Senior Citizens' and Veterans' and Veterans' Deductions Collections Deductions Added Disallowed 2008 2009 Allowed Transfer to Liens Cancelled Balance December 31, 2009 2006 $ 1,228,39 2008 3,703,85 2009 $ 24,395,90703 $ 1,250,00 $ 4,933,85 $ 159,380.45 1,032,64 $ 75,429,90 24,287,760,65 $ 74,50000 $ 3,131,95 $ 1,228,39 20,00 105,301,98 $ 10,195,64 $ 4,93224 $ 24,395,907,03 $ 159,380.45 $ 2,282,64 $ 75,429,90 $ 24,292,694,50 $ 74,500,00 $ 3,131,95 $ 106,550,37 $ 10,19564 Reference A 4-A 4-A 3-A 11-A 1-A 3-A 5-A 4-A A Analysis of ProQe[!y Tax Le'tY Tax Yield Reference General Purpose Tax: General Property Tax Added and Omitted Taxes 4-A $ 24,395,907,03 4-A 159,380.45 $ 24,555,287.48 Tax Levy: County Taxes Due County for Added Taxes Local District School Tax Local Taxes for Municipal Purposes Add: Additional Tax Levied 12-A $ 2,704,115,12 12-A 17,719,01 $ 2,721,834,13 13-A 15,185,403,17 A-2 6,497,821,70 4-A 150,228.48 $ 24,555,287.48 Analvsis of Current Year Tax Collegians 2008 Cash Collections of 2009 Taxes 2009 Cash Collections of 2009 Taxes Sen'lor Citizens' and Veterans'; Allowed on 2009 Taxes Disallowed on 2009 Taxes 4-A $ 75,429,90 4-A 24,287,760,65 3-A 74,500,00 3-A (1,032,64) A-1,A-2 $ 24,436,657,91
Schedule 5-A CURRENT FUND SCHEDULE OF TAX TITLE LIENS RECEIVABLE Year ended December 31,2009 Reference Balance, December 31, 2008 A $ 3,884.61 Increased By: Transfers From Taxes Receivable 4-A 3,131.95 Balance, December 31, 2009 A $ 7,016.56
Schedule 6-A CURRENT FUND SCHEDULE OF PROPERTY ACQUIRED FOR TAXES - ASSESSED VALUATION Year ended December 31, 2009 Reference Balance, December 31, 2009 and 2008 A $ 125,900.00
Schedule 7-A CURRENT FUND SCHEDULE OF REVENUE ACCOUNTS RECEIVABLE Year ended December 31,2009 Balance December 31, Accrued in 2008 2009 Licenses: Alcoholic Beverages A-2 $ 15,662,96 Other A-2 9,592,00 Fees and Permits A-2 33,006,64 Fines and Costs - Municipal Court A-2 $ 16,590,67 124,206,05 Interest and Costs on Taxes A-2 52,242,16 PILOT - Senior Citizens Housing Complex A-2 94,716,00 Cable Television Fees A-2 41,644,00 Railroad Parking Lot Fees and Permits A-2 245,608,00 Rental of Matawan Municipal Community Center A-2 51,881,00 Extraordinary Aid A-2 105,000,00 Energy Receipts Tax A-2 1,824,209,00 Uniform Construction Code Fees A-2 173,347,06 Uniform Fire Safety Act A-2 56,887,00 General Capital Fund Balance A-2 3,500,00 Due From: Regional School District A-2 213,103,53 Payroll Trust Fund A-2 9,089,72 Water/Sewer Utility Operating Fund A-2 50,179,25 Trust Fund A-2 17,785,00 New Jersey State Library A-2 90,598,00 $ 16,590,67 $ 3,212,257,37 Reference A 7-A Balance December 31, Collections 2009 $ 15,662,96 9,592,00 33,006,64 134,675,62 $ 6,121,10 52,242,16 94,716,00 41,644,00 245,608,00 51,881,00 105,000,00 1,824,209,00 173,347,06 56,887,00 3,500,00 213,103,53 9,089,72 50,179.25 17,785,00 90,598,00 $ 3,222,726,94 $ 6,121,10 A Cash Receipts 1-A Interfund - General Capital Fund 16-A Regional School Tax Receivable 13-A $ 3,006,123,4 1 3,500,00 213,103.53 $ 3,222,726,94
Schedule 8-A CURRENT FUND SCHEDULE OF DEFERRED CHARGES - N.J.SA 40A:4-53 SPECIAL EMERGENCY AUTHORIZATIONS Year ended December 31, 2009 Year 07/20104 12/29/05 07/05/06 Balance Raised December 31, in 2009 Description Amount 2008 Budget Codification $ 17,800.00 $ 3,560.00 $ 3,560.00 Tax Maps 24,000.00 9,600.00 4,800.00 Revaluation of Real Property 250,000.00 150,000.00 50,000.00 $ 163,160.00 $ 58,360.00 Reference A A-3 Balance December 31, 2009 $ 4,800.00 100,000.00 $ 104,800.00 A
Schedule 9-A Page 1 of 3 CURRENT FUND SCHEDULE OF 2008 APPROPRIATION RESERVES Year ended December 31,2009 GENERAL GOVERNMENT General Administration: Salaries and Wages Other Expenses Mayor and Council: Salaries and Wages Other Expenses Municipal Clerk: Salaries and Wages Other Expenses Financial Administration (Treasury): Salaries and Wages Other Expenses Revenue Administration (Tax Collection): Salaries and Wages Other Expenses Tax Assessment Administration: Salaries and Wages Other Expenses Department of Law: Salaries and Wages Other Expenses Division of Engineering: Other Expenses Downtown Redevelopment Salaries and Wages Other Expenses Historic Commission: Other Expenses Balance December 31, 2008 $ 2,987.45 $ 543.66 3.33 1,421.89 1,264.98 773.71 2,408.76 202.63 1,068.14 2,396.19 359.05 690.41 2,142.51 3,909.80 6,630.27 1.00 25.00 1,482.83 Balance After Modifications 2.45 2,257.61 3.33 1,058.89 64.98 3.71 8.76 156.29 18.14 46.19 9.05 0.41 3,569.41 53,839.34 4,950.27 1.00 25.00 985.84 Paid or Charged $ 2,254.51 1,055.01 3,565.35 52,563.81 4,945.00 980.00 $ Balance Lapsed 2.45 3.10 3.33 3.88 64.98 3.71 8.76 156.29 18.14 46.19 9.05 0.41 4.06 1,275.53 5.27 1.00 25.00 5.84 LAND USE ADMINISTRATION Planning Board: Salaries and Wages Other Expenses 2,176.89 3,724.51 833.93 4.51 833.69 0.24 4.51 INSURANCE General Liability Workmen's Compensation Employee Group Health 22.86 1,144.72 80,508.19 22.86 1,144.72 77,213.62 75,890.25 22.86 1,144.72 1.323.37
Schedule 9-A Page 2 of 3 CURRENT FUND SCHEDULE OF 2008 APPROPRIATION RESERVES Year ended December 31,2009 PUBLIC SAFETY Police Department: Salaries and Wages Other Expenses Emergency Management Services: Salaries and Wages Other Expenses Aid to Volunteer First Aid Squad Other Expenses Fire: Other Expenses Uniform Fire Safety: Salaries and Wages Other Expenses Prosecutor's Office: Salaries and Wages Other Expenses Municipal Court: Salaries and Wages Other Expenses Public Defender Salaries and Wages Balance December 31, 2008 20,286.01 9,211.30 380.00 1,087.23 4,583.76 77.29 1,850.28 6,668.13 50.00 701.70 253.27 41.63 Balance After Modifications 10,645.87 10,869.80 37.23 25,000.00 28,112.90 2.29 187.09 9,168.15 50.00 1.70 678.27 583.30 Paid or Charged 10,605.64 10,863.09 36.56 25,000.00 28,112.90 186.81 2,500.02 175.00 541.67 Balance Lapsed 40.23 6.71 0.67 2.29 0.28 6,668.13 50.00 1.70 503.27 41.63 PUBLIC WORKS Railroad Parking: Salaries and Wages Other Expenses Streets and Road Maintenance: Salaries and Wages Other Expenses Shade Tree Commission Salaries and Wages Other Expenses Solid Waste Collection: Salaries and Wages Other Expenses Buildings and Grounds: Salaries and Wages Other Expenses Vehicle Maintenance: Salaries and Wages Other Expenses 935.72 1,375,45 3,325,42 7,907.95 300.00 1,365.75 17.08 972.20 4,090,41 558.64 1,631.50 935.72 1,757.73 4,898.92 16,352.14 200.00 1,615.75 17.08 55,845.96 3,831.00 5,394.90 522.64 5,138.78 1,700.00 4,898.92 16,346.64 200.00 1,600.00 55,845.96 3,831.00 5,392.77 4,970.14 935.72 57.73 5.50 15.75 17.08 2.13 522.64 168.64 HEALTH AND HUMAN SERVICES Public Health Services (Board of Health): Salaries and Wages Other Expenses Environmental Health Services: Other Expenses Welfare/Administration of Public Assistance: Other Expenses 29.09 38,919.82 25.00 50.00 0.09 66,299.25 66,299.14 0.09 0.11
Schedule 9-A Page 3 of3 CURRENT FUND SCHEDULE OF 2008 APPROPRIATION RESERVES Year ended December 31, 2009 PARK AND RECREATION Recreation Services and Programs: Salaries and Wages Other Expenses Balance December 31, 2008 414.54 1,846.35 Balance After Modifications 0.54 1,500.35 Paid or Charged 1,499.68 Balance Lapsed 0.54 0.67 UNIFORM CONSTRUCTION CODE Construction Code Official: Salaries and Wages Other Expenses Division of Property Maintenance: Salaries and Wages Other Expenses 3,374.42 2,265.95 333.40 31.00 4.42 8.45 3.40 250.00 219.00 4.42 8.45 3.40 31.00 Salary and Wage Adjustment 12.00 12.00 12.00 UTILITY EXPENSE AND BULK PURCHASES Utilities Street lighting 28,127.36 2,545.26 22,976.65 11,600.12 22,934.13 11,600.12 42.52 Contingent 1,000.00 1,000.00 1,000.00 Statutory Expenditures: Contribution To: Social Security System (OAS.I.) 9,705.84 9,705.84 9,705.84 OPERATIONS EXCLUDED FROM CAPS Monmouth County 911 Program Length of Service Awards Program Statutory Expenditures: Public Employees' Retirement System 2,43904 0.60 2,439.04 54,000.00 0.60 49,350.00 2,439.04 4,650.00 0.60 INTERLOCAL MUNICIPAL SERVICE AGREEMENTS HAM Program - Aberdeen Township 2,280.00 2,280.00 2,280.00 Total General Appropriations $ 276,959.17 $ 500,148.28 $ 466,796.81 $ 33,35147 Reference A A-1 Appropriation Reserves Encumbrances Payable 9-A 10-A $ 276,959.17 223,189.11 $ 500,148.28 Cash Disbursements Accounts Payable i-a 14-A $ 450,628.86 16,167.95 $ 466,796.81
Schedule 10-A CURRENT FUND SCHEDULE OF ENCUMBRANCES PAYABLE Year ended December 31,2009 Balance, December 31, 2008 Reference A $ 223,189.11 Increased By: Transferred From 2009 Appropriations A-3 Decreased By: Transferred To Appropriation Reserves 9-A 255,737.85 478,926.96 223,189.11 Balance, December 31, 2009 A $ 255,737.85
Schedule 11-A CURRENT FUND SCHEDULE OF PREPAID TAXES Year ended December 31,2009 Balance, December 31,2008 Increased By: Cash Receipts Reference A 1-A $ 75,429,90 97,735,93 Decreased By: Applied To Taxes Receivable 4-A 173,165,83 75,429,90 Balance, December 31,2009 A $ 97,735,93
Schedule 12-A CURRENT FUND SCHEDULE OF COUNTY TAXES PAYABLE Year ended December 31, 2009 Balance, December 31,2008 Reference A $ 4,446.55 Increased By: 2009 Tax Levy: County Tax County Health Budget A-1,4-A $ 2,492,902.49 A-1,4-A 47,559.75 County Open Space Fund Tax A-1,4-A 163,652.88 Due County for Added Taxes A-1,4-A 17,719.01 Decreased By: Cash Disbursements 1-A 2,721,834.13 2,726,280.68 2,708,560.86 Balance, December 31,2009 A $ 17,719.82
Schedule 13-A CURRENT FUND SCHEDULE OF REGIONAL SCHOOL TAXES (RECEIVABLE)/PAYABLE Year ended December 31, 2009 Reference Balance, December 31,2008: School Tax Receivable A $ (213,103.53) Increased By: Levy (School Year July 1, 2008 to June 30, 2009) A-1,4-A 15,185,403.17 Decreased By: Cash Disbursements 1-A Balance, December 31,2009: School Tax Payable A $ 14,972,299.64 14,972,289.64 10.00 2009 Liability for Local District School Tax Tax Payable, December 31,2009 A $ Tax Paid 1-A Add: Tax Receivable, December 31,2008 13-A Amount Charged To 2009 Operations A-1 $ 10.00 14,972,289.64 14,972,299,64 (213,103,53) 15,185,403,17
Schedule 14-A CURRENT FUND SCHEDULE OF ACCOUNTS PAYABLE Year ended December 31,2009 Balance, December 31,2008 Reference A $ 5,000.00 Increased By: Charged To 2008 Appropriation Reserves 9-A 16,167.95 Balance, December 31, 2009 A $ 21,167.95
Schedule 15-A CURRENT FUND SCHEDULE OF TAX OVERPAYMENTS PAYABLE Year ended December 31, 2009 Reference Balance, December 31, 2008 A $ 9,345.53 Increased By: Cash Receipts 1-A Decreased By: Cash Disbursements 1-A 11,973.36 21,318.89 9,345.53 Balance, December 31,2009 A $ 11,973.36
Schedule 16-A CURRENT FUND SCHEDULE OF INTERFUNDS PAYABLE Year ended December 31,2009 Reference Total General Capital Fund Water/Sewer Utility Capital Fund Balance, December 31, 2008 Decreased By: Cash Disbursement Anticipated As Revenue - FB Balance, December 31,2009 A $ 1,031,359.61 $ i-a 872,251.30 A-2,7-A 3,500.00 875,751.30 A $ 155,608.31 $ 254,108.31 $ 777,251.30 95,000.00 777,251.30 3,500.00 98,500.00 777,251.30 155,608.31 $ 0.00
Schedule 17 -A CURRENT FUND SCHEDULE OF DUE TO STATE OF NEW JERSEY Year ended December 31,2009 Marriage License Fees Balance December 31, 2008 Increased Decreased $ 0.00 $ 1,425.00 $ 1,225.00 Balance December 31, 2009 $ 200.00 Reference A 1-A 1-A A
Schedule 18-A CURRENT FUND SCHEDULE OF VARIOUS RESERVES Year ended December 31, 2009 Reserve for: Master Plan Codification Damage Claims Revaluation Reference Balance, December 31, 2008 Increased Decreased $ 57.62 3,407.00 $ 3,407.00 33,225.31 $ 1,512.76 16,771.85 30,468.80 18,147.24 $ 67,158.73 $ 1,512.76 $ 38,326.09 A 1-A 1-A Balance, December 31, 2009 $ 57.62 17,966.22 12,321.56 $ 30,345.40 A
Schedule 19-A GRANT FUND SCHEDULE OF STATE GRANTS RECEIVABLE Year ended December 31,2009 Increased By Balance Revenue Transferred December 31, Anticipated From Grants 2008 2009 Unappropriated Balance Cash December 31, Receipts 2009 Monmouth County Environmental Health Act Over The Limit, Under Arrest 2007 Year-End Crackdown Bayshore DWO Saturation Patrol Domestic Violence Training Grant Clean Communities Program Body Armor Fund Alcohol Education and Rehabilitation Fund Recycling Tonnage Grant NJ DCA Smart Future Grant Stormwater Management Program Historic Sites CDBG - Street Improvements & ADA Curb Cut and Drainage $ 1,250.00 5,000.00 6,400.00 392.70 $ 496.13 $ 496.13 2,238.45 2,238.45 1,178.00 1,178.00 8,626.11 8,626.11 6,800.00 6,800.00 4,234.00 4,234.00 2,000.00 187,106.00 $ 2,000.00 $ 1,250.00 5,000.00 6,400.00 392.70 187,106.00 $ 13,042.70 $ 212,678.69 $ 23,572.69 Reference A A-2 21-A $ 2,000.00 $ 200,148.70 1-A A
Schedule 20-A GRANT FUND SCHEDULE OF RESERVE FOR STATE GRANTS - APPROPRIATED Year ended December 31, 2009 Balance Transferred Transferred Balance December 31, 2009 From To December 31, 2008 Authorizations Encumbrances Expended Encumbrances 2009 Monmouth County Environmental Health Act $ 3,000.00 $ 3,000.00 Drunk Driving Enforcement Fund 5,919.44 $ 947.00 $ 1,086.50 5,779.94 Over The Limit, Under Arrest 2007 Year-End Crackdown 1,950.00 1,950.00 Bayshore DWI Saturation Patrol 3,550.00 1,566.64 1,983.36 Recycling Tonnage Grant 19,791.85 19,791.85 Clean Communities Program 16,353.61 1,127.72 9,257.62 $ 312.50 7,911.21 Alcohol Education and Rehabilitation Fund 230.60 137.98 230.60 137.98 NJ Body Armor Fund 2,738.73 2,738.73 Municipal Drug Alliance 838.00 838.00 Police OEM Grant 2,405.72 2,405.72 Gov Connect Grant 760.00 760.00 Historic Sites Grant 2,000.00 2,000.00 NJ DCA Share Grant 10,334.48 10,334.48 Domestic Violence Training Grant 392.70 392.70 Cablevision Grant 1,660.00 1,660.00 Clean Communities Program $ 496.13 496.13 Body Armor Fund 2,238.45 2,238.45 Alcohol Education and Rehabilitation Fund 1,178.00 469.40 708.60 Recycling Tonnage Grant 8,626.11 8,626.11 NJ DCA Smart Future Grant 6,800.00 6,800.00 Stormwater Management Program 4,234.00 4,234.00 Historic Sites 2,000.00 2,000.00 CDBG - Street Improvements & ADA Curb Cut and Drainage 187,106.00 187,106.00 $ 71,925.13 $ 212,678.69 $ 2,212.70 $ 17,587.94 $ 312.50 $ 268,916.08 Reference A A-3 22-A 1-A,23-A 22-A A
Schedule 21-A GRANT FUND SCHEDULE OF RESERVE FOR STATE GRANTS - UNAPPROPRIATED Year ended December 31, 2009 Balance December 31, 2008 Cash Receipts Transferred to Grants Receivable Balance December 31, 2009 Recycling Tonnage Grant Alcohol Education and Rehabilitaiton Fund Body Armor Replacement Grant Clean Communities Program NJ DCA Smart Future Grant Stormwater Management Program $ 8,626.11 1,178.00 2,238.45 496.13 6,800.00 4,234.00 $ 16,023.78 742.55 13,720.03 $ 8,626.11 1,178.00 2,238.45 496.13 6,800.00 4,234.00 $ 16,023.78 742.55 13,720.03 $ 23,572.69 $ 30,486.36 $ 23,572.69 $ 30,486.36 Reference A 1-A A-3,19-A A
Schedule 22-A GRANT FUND SCHEDULE OF RESERVE FOR ENCUMBRANCES Year ended December 31, 2009 Reference Balance, December 31, 2008 A $ 2,212.70 Increased By: Charged to Appropriated Reserves 20-A Decreased By: Transferred to Appropriated Reserves 20-A 312.50 2,525.20 2,212.70 Balance, December 31,2009 A $ 312.50
Sched u Ie 23-A GRANT FUND SCHEDULE OF DUE FROM CURRENT FUND Year ended December 31,2009 Reference Balance, December 31, 2008 A $ 84,667.82 Increased By: Deposited in Current Fund: Grants Receivable 19-A $ 2,000.00 Grants Unappropriated 21-A 30,486.36 2009 Budget Approprations 19-A 212,678.69 Decreased By: Disbursed by Current Fund: Appropriated Reserves 20-A 17,587.94 2009 Anticipated Revenue 19-A 212,678.69 245,165.05 329,832.87 230,266.63 Balance, December 31,2009 A $ 99,566.24
Schedule 24-A CURRENT FUND SCHEDULE OF SPECIAL EMERGENCY NOTE PAYABLE Year ended December 31, 2009 Ordinance Number Description Date of Issue of Original Note Date of Maturity Interest Rate Balance December 31, 2008 Increase Decrease Balance December 31, 2009 06-08 Special Emergency Appropriation for the Preparation and Completion of Revaluation 07/05/06 12/31/2009 0,00% $ 150,000,00 $ 100,000,00 $ 150,000,00 $ 100,000,00 Reference A 1-A 1-A A
Schedule 25-A CURRENT FUND SCHEDULE OF DEFERRED CHARGES Year ended December 31,2009 Description Balance December 31, 2008 Raised Balance in 2009 December 31, Budget 2009 Emergency Appropriations Deficit in Operations $ 310,000,00 11,338,79 $ Overexpenditure of Appropriation Reserves 35,851,99 Expenditure Without Appropriation 3,641.19 $ 360,831,97 $ 310,000,00 $ 11,338,79 35,421,35 430,64 3,641,19 349,062.54 $ 11,769.43 Reference A A-3 A
Schedule 26-A CURRENT FUND SCHEDULE OF INTERFUNDS RECEIVABLE Year ended December 31,2009 Water/Sewer Utility Operating Reference Total Fund Trust Other Fund Payroll Fund Balance, December 31, 2008 Decreased By: Anticipated As Revenue Balance, December 31,2009 A $ 64,678.73 $ 50,179.25 A-2 59,268.97 50,179.25 A $ 5,409.76 $ 0.00 $ 5,409.76 $ 9,089.72 9,089.72 $ 5,409.76 $ 0.00
TRUST FUND SCHEDULES
Schedule 1-B TRUST FUND SCHEDULE OF CASH - TREASURER Year ended December 31,2009 Reference Animal Control Fund Other Trust Funds Balance, December 31, 2008 B $ 820.34 Increased By Receipts: Due To: State of New Jersey 2-B 392.40 Prepaid Railroad Permits 6-B Various Trust Funds 5-B Reserve for: Animal Control Trust Fund 3-B 3,535.40 3,927.80 4,748.14 Decreased By Disbursements: Due To State of New Jersey 2-B 390.00 Various Trust Funds 5-B Reserve for: Animal Control Trust Fund 3-B 2,954.30 3,344.30 Balance, December 31,2009 B $ 1,403.84 $ 1,212,548.03 179,160.00 804,047.62 983,207.62 2,195,755.65 1,090,187.80 1,090,187.80 $ 1,105,567.85
Schedule 2-8 ANIMAL CONTROL TRUST FUND SCHEDULE OF DUE TO STATE OF NEW JERSEY Year ended December 31, 2009 Reference Balance, December 31, 2008 B $ 6.00 I ncreased By: 2009 License Fees 1-B Decreased By: Payments 1-B 392.40 398.40 390.00 Balance, December 31, 2009 B $ 8.40
Schedule 3-B ANIMAL CONTROL TRUST FUND SCHEDULE OF RESERVE FOR ANIMAL CONTROL EXPENDITURES Year ended December 31, 2009 Reference Balance, December 31,2008 B $ 814.34 Increased By: Dog License Fees Collected Cat License Fees Collected 1-B $ 3,423.40 112.00 3,535.40 Decreased By: Expenditures Under R.S. 4:19-15:11 1-B 4,349.74 2,954.30 Balance, December 31, 2009 B $ 1,395.44 License Fees Collected 2008 2007 $ 2,072.00 1,688.30 $ 3,760.30
Schedule 4-B TRUST - OTHER FUND SCHEDULE OF DUETO CURRENT FUND Year ended December 31, 2009 Reference Balance, December 31, 2009 and 2008 B $ 5,409.76
Schedule 5-B TRUST FUND SCHEDULE OF VARIOUS TRUST FUND RESERVES Year ended December 31, 2009 Balance December 31, 2008 Increase Fire Safety Penalty Monies $ 9,806.96 $ 25,795.00 $ Tax Title Lien Redemptions Payable 71,432.64 186,103.64 PO.AA 239.70 270.00 Police Firearms Donations 1,742.49 30,500.00 Tax Title Lien Premiums 149,900.00 14,949.00 Off Duty Police 30,779.81 88,460.46 Public Defender 2,347.82 2,635.50 Unemployment Compensation 3,693.40 7,715.51 Law Enforcement 2,148.67 12,418.73 Property Maintenance 31,441.23 Recreation Commission 33,042.25 67,075.01 Railroad Parking 43,430.29 403,280.03 Developer Escrow 627,813.01 164,164.74 $ 1,007,818.27 $ 1,003,367.62 $ Balance December 31, Decrease 2009 1,713.82 $ 33,888.14 253,275.12 4,261.16 492.26 17.44 32,242.49 46,700.00 118,149.00 81,602.30 37,637.97 4,983.32 11,381.31 27.60 6,171.47 8,395.93 31,441.23 68,067.59 32,049.67 405,827.70 40,882.62 183,515.00 608,462.75 1,090,187.80 $ 920,998.09 Reference B 1-B B Cash Receipts 1-B $ 804,047.62 Prepaid Railroad Permits Applied 6-B 199,320.00 $ 1,003,367.62
Schedule 6-B TRUST - OTHER FUND SCHEDULE OF PREPAID RAILROAD PERMITS Year ended December 31, 2009 Reference Balance, December 31, 2008 B $ 199,320,00 Increased By: Cash Receipts 1-B Decreased By: Realized 5-B 179,160,00 378,480,00 199,320,00 Balance, December 31,2009 B $ 179,160,00
Schedule 7 -B (Unaudited) LENGTH OF SERVICE AWARDS PROGRAM FUND ("LOSAP") SCHEDULE OF INVESTMENTS Year ended December 31, 2009 Reference Balance, December 31,2008 B $ 162,317.05 Increased By: Borough Contributions 8-B $ 38,850.00 Appreciation on Investments 8-B 33,934,60 Decreased By: Withdrawals and Charges 8-B 72,784,60 235,101,65 3,414,90 Balance, December 31, 2009 B $ 231,686,75
Schedule 8-B (Unaudited) LENGTH OF SERVICE AWARDS PROGRAM FUND ("LOSAP") SCHEDULE OF MISCELLANEOUS RESERVES Year ended December 31, 2009 Reference Balance, December 31, 2008 B $ 162,317.05 Increased By: Borough Contributions 7-B $ 38,850.00 Appreciation on Investments 7-B 33,934.60 Decreased By: Withdrawals and Charges 7-B 72,784.60 235,101.65 3,414.90 Balance, December 31, 2009 B $ 231,686.75
GENERAL CAPITAL FUND SCHEDULES
Sched u Ie 1-C GENERAL CAPITAL FUND SCHEDULE OF CASH - TREASURER Year ended December 31, 2009 Balance, December 31, 2008 Increased By: Capital Improvement Fund Bond Anticipation Notes Interfund - Current Fund Due From Monmouth County Improvement Authority Special Emergency Note Decreased By: Bond Anticipation Notes Improvement Authorizations Due From Monmouth County Improvement Authority Balance, December 31, 2009 Reference C 8-C $ 45,000.00 6-C 2,437,000.00 10-C 95,000.00 11-C 88,425.85 C 50,000.00 6-C 1,772,000.00 7-C 764,432.62 11-C 77,334.10 C $ 78,610.46 2,715,425.85 2,794,036.31 2,613,766.72 $ 180,269.59
Schedule 2-C GENERAL CAPITAL FUND SCHEDULE OF ANALYSIS OF GENERAL CAPITAL CASH AND INVESTMENTS Year ended December 31,2009 Balance December 31, 2009 Capital Improvement Fund Fund Balance Special Emergency Note Due From: Monmouth County Improvement Authority Current Fund Water/Sewer Utility Capital Fund Due To Water/Sewer Utility Operating Fund Reserve for Encumbrances $ 102,344.29 55.81 (100,000.00) (8,332.90) (155,608.31 ) (601,810.65) 63301 820,757.58 Ordinance Number 85-23 97-32/97-45 98-25 02-15 03-09 03-12 04-21 04-23 05-11107 -22 06-26/07/02 07-43 08-19 Improvement Description Preliminary Planning Expenses and Improvements to Lake Lefferts and Lake Matawan Dams Lochslea Heights and Ivy Court Roadway Imp. and Edgemere Drive Drainage Improvements Various Improvements to Burrowes Mansion Community Center Railroad Area Improvements Purchase of Various Equipment Acquisition of a Dump Truck Renovations to Matawan Aberdeen Library and Clinton Street Community Center Multipark Development and Sidewalk Improvements Various Capital Improvements Various Road Improvements 2008 Road Improvement Program (12,620.94 ) 799.55 1,662.02 118,678.86 10,000.00 19.23 4,764.30 4,519.87 58,421.93 31,626.31 (150,000.00) 54,359.63 $ 180,269.59 Reference C,1-C
Schedule 3-C GENERAL CAPITAL FUND SCHEDULE OF DEFERRED CHARGES TO FUTURE TAXATION - FUNDED Year ended December 31,2009 Reference Balance, December 31, 2008 C $ 8,252,715.21 Decreased By: Bonds Paid Green Trust Loan 5-C 13-C $ 627,385.00 14,092.37 641,477.37 Balance, December 31, 2009 C $ 7,611,237.84
Schedule 4-C GENERAL CAPITAL FUND SCHEDULE OF DEFERRED CHARGES TO FUTURE TAXATION - UNFUNDED Year ended December 31, 2009 Ordinance No. Improvement Description Anal~sis of Balance Balance Bond December 31, Anticipation 2009 and 2008 Notes,EOxpended Unexpended Improvement Authorizations 85-23 03-10 05-11/07-22 05-21/07-24 06-24/07-03/ 07-43 06-26/07-02 08-19 Preliminary Planning Expenses and Improvements to Lake Lefferts and Lake Matawan Dams Railroad Area Improvements Multipark Development and Sidewalk Improvements Various Road Improvements Various Road Improvements Various Capital Improvements 2008 Road Improvement Program $ 695,219.01 $ 12,620.94 190,000.00 900,000.00 $ 250,000.00 361,000.00 361,000.00 1,140,000.00 990,000.00 150,000.00 171,000.00 171,000.00 665,000.00 665,000.00 $ 682,598.07 190,000.00 650,000.00 $ 4,122,219.01 $ 2,437,000.00 $ 162,620.94 $ 1,522,598.07 Reference C 6-C 2-C 7-C Improvement Authorizations - Unfunded Less: Unexpended Proceeds of Bond Anticipation Notes - Issued: $ 1,667,005.94 2-C 2-C 2-C 05-11/07-22 06-26/07-02 08-19 58,421.93 31,626.31 54,359.63 4-C $ 1,522,598.07
Schedule 5-C GENERAL CAPITAL FUND SCHEDULE OF GENERAL SERIAL BONDS Year ended December 31,2009 Maturities of Balance Balance Amount of Bonds Outstanding Interest December 31, December 31, Purpose Date of Issue Orioinallssue December 31,2009 Rate 2008 Decreased 2009 General Improvement 12/1/00 $ 2,496,000,00 12/01/10 $ 121,816.00 4.875% $ 238,201.00 $ 116,385.00 $ 121,816.00 Genera! Improvement 12/1/04 1,277,000.00 12/01/10 96,000.00 3.250% 12/1/11-12 96,000.00 5.000% 12/01/13 96,000.00 4.000% 12/01/14 97,000.00 3.750% 12101115 97,000.00 3.850% 12/1/16-19 97,000.00 5.250% 1,029,000.00 63,000.00 966,000.00 General Improvement 12/1/05 3,790,000.00 12/01/10 235,000.00 4.000% 12/01/11 245,000.00 5.000% 12/01/12 257,000.00 5.000% 12/01/13 270,000.00 5000% 12101/14 283,000.00 5.000% 12/01/15 297,000.00 5.000% 12/01/16 312.000.00 5.000% 12/01/17 328,000.00 4.000% 12/01/18 341,000.00 4.125% 12/01/19 355,000.00 4.125% 3,149,000.00 226,000.00 2,923,000.00 Refunding Bonds 4/12/07 3,920,425.00 12/01/10 231,000.00 4.000% 12/01/11 366,166.00 4000% 12/01/12 379,920.00 4.000% 12/01/13 395,459.00 4.000% 12/01/14 411,004.00 5.000% 12/01/15 434,167.00 5.000% 12/01/16 453,691.00 5.000% 12/01/17 169,922.00 5.000% 12/01/18 177,681.00 5.000% 12/01/19 185.440.00 5.000% 12/01/20 193,975.00 4.000% 3,620,425.00 222,000.00 3,398,425.00 $ 8,036,626.00 $ 627,385.00 $ 7,409,241.00 Reference C 3-C C
Schedule 6-C GENERAL CAPITAL FUND SCHEDULE OF BOND ANTICIPATION NOTES Year ended December 31,2009 Ordinance Number Improvement Description Date of Balance, Issue of Date of Date of Interest December 31, Oriqinal Note Issue Maturity Rate 2008 Balance, December 31, Increase Decrease 2009 05-21107-24 06-24/07-031 07-43 06-26107-02 05-11/07-22 08-19 Various Roadway Improvements Various Roadway Improvements Various Capital Improvements Multipark Development and Sidewalk Improvements 2008 Road Improvement Program 04/12/06 03/05/09 03/04/10 2.10% $ 361,000.00 07119/07 03105/09 03/04/10 2.10% 990,000.00 07/19/07 03/05/09 03/04110 2.10% 171,000.00 07/19/07 03/05/09 03104110 2.10% 250,000.00 03/05/09 03105109 03/04/10 2.10% $ 361,000.00 $ 361,000.00 $ 361,000.00 990,000.00 990,000.00 990,000.00 171,000.00 171,000.00 171,000.00 250,000.00 250,000.00 250,000.00 665,000.00 665,000.00 $ 1,772,00000 $ 2,437,000.00 $ 1,772,000.00 $ 2,437,000.00 Reference C 1-C,4-C 1-C C,4-C
Si<hedule 7 ~C GENERAL CAPITAL FUND SCHEDULE OF IMPROVEMENT AUTHORIZATIONS Year ended December 31,2009 Ordinance!:-lumber Improvement Description Q.@1Q 85-23 Preliminary Planning Expenses and Improvements to Lake Lefferts and Lake Matawan Dams 08/19/86 94-10/96-8 Construction of Parking Lot Main Street 06/08/94 95-22 Renovation of Clinton and Jackson Street Park 97~32197-45 Lochslea Heights and Ivy Court Roadway Imp and Edgemere Drive Drainage Improvements 09/12/97 98-25 Various Improvements to Burrowes Mansion 09/15/98 00-09/07-46 Various Improvements 07105100 02-15 Community Center 07/16/02 02-17/07-23 2002 Road Program 07/16/03 03-09 Railroad Area Improvements 07/01/03 03-12 Purchase of Various Equipment 07/01/03 03-13/07-44 2003 Road Program 07/01/03 04-21 Acquisition of a Dump Truck 11/03/04 04-22/07-45 Various Road Improvements 11103/04 04-23 Renovations to Matawan Aberdeen Library and Clinton Street Community Center 11/15/04 05-11/07-22 Multi-Park Development and Sidewalk Improvements 05/17/05 01-21/07-24 Various Roadway Improvements 08/16/05 06-24/07-03/ 07-43 Various Road Improvements 11/09106 06-26/07/02 Various Capital Improvements 12/07/06 08-19 2008 Road Improvement Program 12/02/08 Balance Transferred December 31, 2008 From Amo,!}!!! Funded UnfunQQQ Encumbrance:? $ 1,500,00000 $ 684,602_07 83,835,00 $ 600.00 294,000,00 7,030.00 196,000_00 $ 799,55 11,200,00 1,662,02 1,000,000_00 5,139,65 500,000_00 146,407_38 43,400.26 1,100,000_00 111,35 46,700.00 200,000,00 10,000_00 190,000,00 104,000_00 19_23 439.80 1,220,000_00 50,424.70 71,760.35 120,000_00 4,764_30 308,000_00 154,947,48 73,400,00 60,500_00 4,519.87 1,030,000_00 707,099_91 83,122,02 880,00000 39,458.67 1,200,000_00 285,295_58 309,47 180.000_00 31,626.31 49,000,00 700,000,00 35,000_00 665,00000 $ 408,655_8~ $ 2,603,082_54 $ 380.901,55 Referen~ C C 1S-C Transferred Balance To December 31, 2009 ~ended Encumbrances Funded Unfunded $ 2,004,00 $ 682,598_07 $ 600.00 7,030.00 $ 799.55 1,662.02 5,139,65 66,247,77 4,881_01 118,678.86 46,811,35 10,000.00 190,000.00 439_80 19.23 88,288,80 33,896.25 4,764.30 226,639.98 1,707_50 4,519.87 79,907.50 1,892.50 708,421_93 39,458.67 133,621,40 151,983_65 47,887.25 1,112.75 31,626_31 ~,426,25 ~7,214_12 ~359_63 $ 764,432.62 $ 820,757_58 $ 140,443_83 $ 1,66'[,,005,94 l-c 15-C C C,4-C
Schedule 8-C GENERAL CAPITAL FUND SCHEDULE OF CAPITAL IMPROVEMENT FUND Year ended December 31, 2009 Reference Balance, December 31, 2008 C $ 57,344,29 Increased By: 2009 Budget Appropriation 1-C 45,000,00 Balance, December 31,2009 C $ 102,344,29
Schedule 9-C GENERAL CAPITAL FUND SCHEDULE OF DUE FROM STATE OF N.J. DEPARTMENT OF TRANSPORTATION Year ended December 31, 2009 Reference Balance, December 31, 2009 and 2008 C $ 37,500.00 Detail: Ordinance Number Description 06-24/07-03/ 07-43 Union Street Phase I $ 37,500.00
Schedule 10-C GENERAL CAPITAL FUND SCHEDULE OF DUE FROM CURRENT FUND Year ended December 31,2009 Reference Balance, December 31, 2008 C $ 254,108.31 Decreased By'. Cash Receipts Fund Balance 1-C C-1 $ 95,000.00 3,500.00 98,500.00 Balance, December 31,2009 C $ 155,608.31
Schedule 11-C GENERAL CAPITAL FUND SCHEDULE OF DUE FROM MONMOUTH COUNTY IMPROVEMENT AUTHORITY Year ended December 31, 2009 Reference Balance, December 31,2008 C $ 19,424.65 Increased By: Cash Disbursements 1-C 77,334.10 96,758.75 Decreased By: Cash Receipts 1-C 88,425.85 Balance, December 31,2009 C $ 8,332.90
Schedule 12-C GENERAL CAPITAL FUND SCHEDULE OF DUE FROM WATER/SEWER UTILITY CAPITAL FUND Year ended December 31,2009 Reference Balance, December 31, 2009 and 2008 C $ 601,810.65
Schedule 13-C GENERAL CAPITAL FUND SCHEDULE OF GREEN TRUST LOAN PAYABLE Year ended December 31, 2009 Reference Balance, December 31,2008 C $ 216,089.21 Decreased By: Paid by Budget Appropriation 3-C 14,092.37 Balance, December 31,2009 C $ 201,996.84
Schedule 14-C GENERAL CAPITAL FUND SCHEDULE OF CAPITAL LEASE OBLIGATIONS PAYABLE Year ended December 31,2009 Reference Balance, December 31, 2008 C $ 827,700.00 Decreased By: Paid by Budget Appropriation 1-C 143,400.00 Balance, December 31, 2009 C $ 684,300.00
Schedule 15-C GENERAL CAPITAL FUND SCHEDULE OF RESERVE FOR ENCUMBRANCES Year ended December 31,2009 Reference Balance, December 31, 2008 C $ 380,901.55 Increased By: Transferred From Improvement Authorizations 7-C Decreased By: Transferred To Improvement Authorizations 7-C 820,757.58 1,201,659.13 380,901.55 Balance, December 31,2009 C $ 820,757.58
Schedule 16-C GENERAL CAPITAL FUND SCHEDULE OF BONDS AND NOTES AUTHORIZED BUT NOT ISSUED Year ended December 31,2009 Ordinance No. 85-23 03-09 05-11/07-22 06-24/07-03/ 07-43 08-19 Balance December 31, Notes Improvement Description 2008 Issued Preliminary Planning Expenses and Improvements to Lake Lefferts and Lake Matawan Dams $ 695,219.01 Railroad Area Improvements 190,000.00 Multipark Development 650,000.00 Various Road Improvements 150,000.00 2008 Road Improvement Program 665,000.00 $ 665,000.00 $ 2,350,219.01 $ 665,000.00 Reference 16-C 6-C Balance December 31, 2009 $ 695,219.01 190,000.00 650,000.00 150,000.00 $ 1,685,219.01 16-C
WATER/SEWER UTILITY FUND SCHEDULES
Schedule 1-0 WATER/SEWER UTILITY FUND SCHEDULE OF CASH - TREASURER Year ended December 31, 2009 Reference Operating Capital Assessment Trust Balance, December 31, 2008 0 $ 219,047.34 $ 480,691.82 $ 5,165.67 Increased By Receipts: Rents 3-D $ 4,125,679.77 Rent Overpayments 20-0 6,309.94 Miscellaneous Revenue 0-1 40,500.58 Interfund 16-0,24-0 25,000.00 $ 777,251.30 Bond Anticipation Notes 14-0 2,335,000.00 4,197,490.29 3,112,251.30 4,416,537.63 3,592,943.12 5,165.67 Decreased By Disbursements: 2009 Appropriations 0-5 3,859,680.12 Accrued Interest 8-0 238,367.71 Appropriation Reserves 6-0 118,103.99 Interfund 0,26-0 50,179.25 25,000.00 Improvement Authorizations 9-0 830,695.31 Bond Anticipation Notes 14-0 2,135,000.00 4,266,331.07 2,990,695.31 Balance, December 31,2009 0 $ 150,206.56 $ 602,247.81 $ 5,165.67
Schedule 2-D WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF WATER/SEWER UTILITY CAPITAL CASH Year ended December 31, 2009 Balance December 31, 2009 Interfunds Payable Capital Improvement Fund Encumbrances Payable Fund Balance Ordinance Number 95-39/02-05 99-13/01-19/ 02-16 02-02/02-07 02-18/07-27 08-24 09-07/16 Improvement Description Ten-Inch Water Main, Route 34 to Colonial Shops Reconstruction and Improvement of Sanitary Sewer System Reconstruction of Somerset PI. Pump Station and Force Main and Reconstruction of Buttonwood Manor Pump Station Water Main and Sanitary Sewer Improvement Various Water/Sewer Utility Improvements Water Treatment Plant Improvements $ 737,201.18 55,000.00 211,802.91 58.26 11,365.52 39,709.11 (77,958.91 ) (200,000.00) 161,531.00 (336,461.26) $ 602,247.81 Reference D,1-D
Schedule 3-D WATER/SEWER UTILITY OPERATING FUND SCHEDULE OF CONSUMER ACCOUNTS RECEIVABLE Year ended December 31,2009 Reference Balance, December 31, 2008 D $ 123,534.69 Increased By: Water Sewer Rents Levied 3-D Decreased By: Collections 1-D $ 4,125,679.77 Overpayments Applied 20-D 4,827.71 4,141,741.31 4,265,276.00 4,130,507.48 Balance, December 31,2009 D $ 134,768.52
Schedule 4-D WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF FIXED CAPITAL Year ended December 31, 2009 Water System: 1962 and Prior Distribution Mains and Accessories Pumping Station and Structures Water Tanks Spring Wells Water Plant Miscellaneous Hydrants Sewer System: Disposal Plant and Trunk Lines Treatment Plant Pumping Stations Distribution Balance December 31, 2009 and 2008 $ 312,594,83 7,603,953,18 269,315.26 149,143,87 166,422,81 2,443,963.46 298,496,71 99,766,05 108,582,53 480,841,92 1,806,365,77 4,650,090.21 $ 18,389,536,60 Reference D
Schedule 5-0 WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF FIXED CAPITAL AUTHORIZED AND UNCOMPLETED Year ended December 31,2009 Ordinance Number 95-39/02-05 99-13/01-19/ 02-16 02-02/02-07 02-18/07-27 05-20/07-26 05-22/07-25 08-24 09-07/16 09-25 Balance, December 31, Description 2008 Increased Ten-Inch Water Main, Route 34 to Colonial Shops $ 11,365.52 Reconstruction and I mprovement of Sanitary Sewer System 249,760.66 Reconstruction of Somerset PI. Pump Station and Force Main and Reconstruction of Buttonwood Manor Pump Station 219,030.22 Water Main and Sanitary Sewer Improvement 555,197.46 Replace Water Mains on Matawan Avenue and Daniel Drive 360,013.51 Replace Water Mains on Broad Street From Main to Little Street 52,642.28 Various Water/Sewer Utility Improvements 200,000.00 Water Treatment Plant Improvements $ 350,000.00 Water Treatment Plant Improvements 6,500,000.00 $ 1,648,009.65 $ 6,850,000.00 Balance, December 31, 2009 $ 11,365.52 249,760.66 219,030.22 555,197.46 360,013.51 52,642.28 200,000.00 350,000.00 6,500,000.00 $ 8,498,009.65 Reference 0 5-0,9-0 0
Schedule 6-0 WATER/SEWER UTILITY FUND SCHEDULE OF APPROPRIATION RESERVES Year ended December 31,2009 Operating: Salaries and Wages Other Expenses Acquisition of Water Bayshore Regional Sewerage Authority Statutory Expenditures: Contributions To: Social Security System (OAS.I.) Balance Balance December 31, After 2008 Transfers $ 6,934.71 $ 7,557.81 67,002.38 108,135.69 3,974.77 90,840.82 14,687.34 14,687.34 1,509.20 1,509.20 $ 94,108.40 $ 222,730.86 Paid or Charqed Balance Lapsed $ 5,915.85 $ 1,641.96 32,205.71 75,929.98 79,982.43 10,858.39 14,687.34 1,509.20 $ 118,103.99 $ 104,626.87 Reference 0 1-0 0-1 Appropriation Reserves 0 $ 94,108.40 Encumbrances 7-0 128,622.46 $ 222,730.86
Schedule 7 -D WATER/SEWER UTILITY OPERATING FUND SCHEDULE OF RESERVE FOR ENCUMBRANCES Year ended December 31,2009 Reference Balance, December 31, 2008 D $ 128,622.46 Increased By: Charged To Budget Appropriations D-5 Decreased By: Transferred To Appropriation Reserves 6-D 54,072.21 182,694.67 128,622.46 Balance, December 31, 2009 D $ 54,072.21
Schedule 8-D WATERISEWER UTILITY OPERATING FUND SCHEDULE OF ACCRUED INTEREST ON BONDS, NOTES AND LOANS Year ended December 31, 2009 Reference Balance, December 31, 2008 D $ 64,508.07 Increased By: Budget Appropriations D-5 Decreased By: Cash Disbursed 1-D $ 238,367.71 Cancelled 8-D 14,908.36 262,000.00 326,508.07 253,276.07 Balance, December 31,2009 D $ 73,232.00 Analysis of Balance - December 31, 2009 Outstanding December 31, Interest 2009 Rate From To Period Bond Anticipation Notes: $ 2,335,000.00 2.10% 03/05/09 12/31/09 295 days Serial Bonds: $ 35,184.00 Various 12/01/09 12/31/09 30 days 2,396,000.00 Various 12/01/09 12/31/09 30 days 303,000.00 Various 12/01/09 12/31/09 30 days 454,575.00 Various 12/01/09 12/31/09 30 days NJ Environmental Infrastructure Trust Loan: $ 1,833,944.92 Various 08/01/09 12/31/09 150 days Amount $ 40,181.00 166.00 9,528.00 1,198.00 1,752.00 20,407.00 $ 73,232.00
Schedule 9-0 WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF IMPROVEMENT AUTHORIZATIONS Year ended December 31,2009 Ordinance NumQ5!I Description Balance December 31, Transferred 2008 From Funded Unfunded Auth9rized EncLJrnbrances Balance Transferred December 31, To 2009 Expended Encum.brances Funded Unfunded 95~39/02-05 Ten-Inch Water Main, Route 34 to Colonial Shops 99~13/01-151 Reconstruction and Improvement of Sanitary 02-16 Sewer System 02-02/02-07 Reconstruction of Somerset PI. Pump Station and Force Main and Reconstruction of Buttonwood Manor Pump Station 02-18107-27 Water Main and Sanitary Sewer Improvements 08-24 Various Water/Sewer Utility Improvements 05~20/07-26 Replace Water Mains on Matawan Avenue and Daniel Drive 05~22/07-25 Replace Water Mains on Broad Street from Main to Little Street 09-07/16 Water Treatment Plant Improvements 09-25 Water Treatment Plant Improvements $ 11,365.52 $ 235,949.93 151,842.62 $ 4,123.15 307,252.57 38,61235 200,000,00 $ 350,000.00 6500,00000 12,112.60 4,674.94 $ 11,365.52 $ 57,44403 $ 138,796.79 $ 39,709.11 98,718.28 9,956.40 47,291.09 325,520.43 20,344.49 13,356.50 25,112.50 161,531.00 880.00 11,23260 4,674.94 334,776.07 1,685.19 13,538.74 6,500,000.00 Reference $ 11,365.52 $ 895,045.12 $ 6,850,000.00 $ 59,523.04 o o 5 0 23 0 $ 830,695.31 U11,802.91 $ 11,365.52 $ 6,762,069.94 1 0 23 0 o o
Schedule 10-0 WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF CAPITAL IMPROVEMENT FUND Year ended December 31, 2009 Balance, December 31, 2009 and 2008 Reference o $ 55,000,00
Schedule 11-0 WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF RESERVE FOR AMORTIZATION Year ended December 31, 2009 Reference Balance, December 31,2008 Increased By: Serial Bond Payment State of New Jersey Environmental Infrastructure Loan Payment Balance, December 31, 2009 o 13-0 $ 172,615.00 22-0 133,331.30 o $ 12,037,280.51 305,946.30 $ 12,343,226.81
Schedule 12-D WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF DEFERRED RESERVE FOR AMORTIZATION Year ended December 31, 2009 Ordinance Number Improvement Description Ordinance Date Balance December 31, 2009 and 2008 95-39/02-05 Ten-Inch Water Main Route 34 to Colonial Shops 10/03/09 & 03/19/02 $ 11,365.52 Reference D
Schedule 13-0 WATERISEWER UTILITY CAPITAL FUND SCHEDULE OF SERIAL BONDS Year ended December 31,2009 Maturities of Amount of Bonds Outstanding Balance Balance Date of Original December 31, 2009 Interest December 31, December 31, Purpose Issue Issue Date Amount Rate 2008 Decreased 209.2 water/sewer Improvements 12/01/00 $ 721,000.00 12/01/10 $ 35,184.00 4.875% $ 68,799.00 $ 33,615.00 $ 35,184.00 Water/Sewer Improvements 12/01/04 2,876,00000 12/01/10 96,000.00 3.250% 12/01/11-12 96,000.00 5,000% 12/01/13 96,000.00 4.000% 12/01/14 96,000.00 3.750% 12/01/15 191,000.00 3.850% 12/01/16-18 191,000.00 5.250% 12/01/19 192,000.00 5,250% 12/01/20-21 192,000.00 5.250% 12/01/22 192,000.00 4.750% 12/01/23-24 192,000.00 5.000% 2,492,000.00 96,000.00 2,396,000.00 Water/Sewer Improvements 12/01/05 468,000.00 12/01/10 45,000.00 4.000% 12/01/11 47,000.00 5.000% 12/01/12 49,00000 5.000% 12/01/13 51,000.00 5.000% 12/01/14 54,000.00 5.000% 12/01/15 57,000.00 5.000% 346,000.00 43,00000 303,000.00 Refunding Bonds 04/12/07 454,57500 12/01/11 36,834.00 4.000% 12/01/12 38,080.00 4.000% 12/01/13 39,541.00 4.000% 12/01/14 40,996.00 5.000% 12/01/15 43,833.00 5.000% 12/01/16 45,309.00 5.000% 12/01/17 49,078.00 5.000% 12/01/18 51,319.00 5.000% 12/01/19 53,560.00 5.000% 12/01/20 56,025.00 4.000% 454,575.00 454,575.00 $ 3,361,374.00 $ 172,615.00 $ 3,188,759.00 Reference 0 11-0 0
Schedule 14-D WATERISEWER UTILITY CAPITAL FUND SCHEDULE OF BOND ANTICIPATION NOTES Year ended December 31,2009 Original Ordinance Issue Number Improvement Description Date Balance Date of Date of Interest December 31, Issue Maturity Rate 2008 Increased Decreased Balance December 31, 2009 05-20 Replacement of Water Mains 04/12/06 05-22 Replacement of Water Mains 04/12/06 99-13/01-19 Reconstruction and Improvements to Sewerage System 07/29/08 02-02 Reconstruction of Pump Stations 07/29/08 02-18 Water Main and Sanitary Sewer Improvements 07/29/08 08-24 Sanitary Sewer Improvements to Park Avenue 03/05/09 03/05/08 03/04/10 2.10% $ 1,260,000.00 03/05/08 03/04/10 2.10% 225,000.00 03/05/08 03/04/10 2.10% 250,000.00 03/05/08 03/04/10 2.10% 100,000.00 03/05/08 03/04/10 2.10% 300,000.00 03/05/09 03/04/10 2.10% $ 1,260,000.00 225,000.00 250,000.00 100,000.00 300,000.00 200,000.00 $ 1,260,000.00 225,000.00 250,000.00 100,000.00 300,000.00 $ 1,260,000.00 225,000.00 250,000.00 100,000.00 300,000.00 200,000.00 $ 2,135,000.00 $ 2,335,000.00 $ 2,135,000.00 $ 2,335,000.00 Reference D 1-D 1-D D
Schedule 15-D WATER/SEWER UTILITY OPERATING FUND SCHEDULE OF DUE FROM GENERAL CAPITAL FUND Year ended December 31,2009 Reference Balance, December 31, 2009 and 2008 D $ 633.01
Schedule 16-0 WATER/SEWER UTILITY OPERATING FUND SCHEDULE OF DUE FROM WATER/SEWER UTILITY CAPITAL FUND Year ended December 31, 2009 Reference Balance, December 31, 2008 o $ 160,390.53 Decreased By: Cash Received 1-0 Balance, December 31, 2009 o 25,000.00 $ 135,390.53
Schedule 17-D WATER/SEWER UTILITY OPERATING FUND SCHEDULE OF DUE FROM WATER/SEWER UTILITY ASSESSMENT FUND Year ended December 31,2009 Reference Balance, December 31,2009 and 2008 D $ 205,98
Schedule 18-D WATER/SEWER UTILITY ASSESSMENT TRUST FUND SCHEDULE OF DUE TO WATER/SEWER OPERATING FUND Year ended December 31,2009 Reference Balance, December 31, 2009 and 2008 D $ 205.98
Schedule 19-0 WATER/SEWER UTILITY ASSESSMENT TRUST FUND SCHEDULE OF ASSESSMENTS RECEIVABLE Year ended December 31,2009 Ordinance Number Improvement Description Date of Confirmation Annual Installments Due Date Balance, December 31, 2009 and 2008 72-2 Freneau Sewer Extension 03/01/88 10 06/01/88-97 $ 28,141.00 Reference 0
Schedule 20-D WATER/SEWER UTILITY OPERATING FUND SCHEDULE OF CUSTOMER OVERPAYMENTS Year ended December 31,2009 Reference Balance, December 31, 2008 D $ 4,827,71 Increased By: Cash Received 1-D Decreased By: Overpayments 3-D 6,309,94 11,137,65 4,827,71 Balance, December 31, 2009 D $ 6,309,94
Schedule 21-D WATER/SEWER UTILITY ASSESSMENT TRUST FUND SCHEDULE OF RESERVE FOR ASSESSMENTS RECEIVABLE Year ended December 31,2009 Ordinance Number 72-2 Improvement Description Freneau Sewer Extension Balance, December 31, 2009 and 2008 $ 28,141.00 Reference D
Schedule 22-0 WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF STATE OF NEW JERSEY ENVIRONMENTAL INFRASTRUCTURE LOAN PAYABLE Year ended December 31, 2009 Reference Balance, December 31, 2008 o $ 1,967,276.22 Decreased By: Cash Disbursed 11-0 Balance, December 31, 2009 o 133,331.30 $ 1,833,944.92
Schedule 23-0 WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF RESERVE FOR ENCUMBRANCES Year ended December 31, 2009 Reference Balance, December 31, 2008 0 Increased By: Improvement Authorization 9-0 Decreased By: Improvement Authorization 9-0 Balance, December 31, 2009 0 $ 59,523.04 211,802.91 271,325.95 59,523.04 $ 211,802.91
Schedule 24-D WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF DUE FROM CURRENT FUND Year ended December 31, 2009 Reference Balance, December 31,2008 D $ 777,251,30 Decreased By: Cash Received 1-D 777,251,30 Balance, December 31, 2009 D $ 0,00
Schedule 25-D WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF DUE TO GENERAL CAPITAL FUND Year ended December 31,2009 Reference Balance, December 31, 2009 and 2008 D $ 601,810.65
Schedule 26-D WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF DUE TO WATER/SEWER UTILITY OPERATING FUND Year ended December 31,2009 Reference Balance, December 31, 2008 D $ 160,390.53 Decreased By: Cash Disbursed 1-D 25,000.00 Balance, December 31,2009 D $ 135,390.53
Schedule 27-D WATER/SEWER UTILITY CAPITAL FUND SCHEDULE OF BONDS AND NOTES AUTHORIZED BUT NOT ISSUED Year ended December 31, 2009 Ordinance Number Balance December 31, 2009 Description 2008 Authorizations Balance Notes December 31, Issued 2009 02-02/02-07 02-18 08-24 09-07/16 09-25 Reconstruction of Somerset Place, Victoria Court and Buttonwood Manor Pump Station $ 125,250.00 Water Main and Sanitary Sewer Improvements 200,000.00 Various Water/Sewer Utility Improvements 200,000.00 Water Treatment Plant Improvements $ 350,000.00 Water Treatment Plant Improvements 6,500,000.00 $ 200,000.00 $ 125,250.00 200,000.00 350,000.00 6,500,000.00 $ 525,250.00 $ 6,850,000.00 Reference 27-D 5-D $ 200,000.00 $ 7,175,250.00 14-D 27-D
GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULES
Schedule 1-F GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF GENERAL FIXED ASSETS Year ended December 31,2009 Land and Land Improvements Buildings and Improvements Machinery and Equipment Balance December 31, 2008 Additions $ 4,540,000.00 3,993,300.00 88,608.00 4,214,687.95 21,462.00 $ 12,747,987.95 $ 110,070.00 Balance December 31, Deletions 2009 $ 4,540,000.00 4,081,908.00 4,236,149.95 $ 0.00 $ 12,858,057.95 Reference F 1-F F
COMMENTS SECTION
COMMENTS Year ended December 31,2009 An audit of the financial accounts and transactions of the Borough of Matawan, County of Monmouth, New Jersey ("Borough") for the year ended December 31, 2009, has recently been completed, The results of the audit are herewith set forth, Scope of Audit The audit covered the financial transactions of the Tax Collector/Treasurer, the activities of the Mayor and Borough Council and the records of the various outside departments, The audit did not and could not determine the character of services rendered for which payment had been made or for which reserves had been set up, nor could it determine the character, proper price or quantity of materials supplied for which claims had been passed, Cash on hand was counted and cash balances were reconciled with independent certifications obtained directly from the depositories, Revenues and receipts were verified as to source and amount insofar as the records permitted, Our audit was made in accordance with auditing standards generally accepted in the United States of America and in compliance with the audit requirements prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, Therefore, our audit included the procedures noted above as well as tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances, Contracts and Agreements Required to be Advertised per N,J,S, 40A: 11-4 N,J,S, 40A:11-4 states "Every contract awarded by the contracting agent, for the provision or performance of any goods or services, the cost of which in the aggregate exceeds the bid threshold (40A:11-3), shall be awarded only by resolution of the governing body of the contracting unit to the lowest responsible bidder after public advertising for bids and bidding therefor, except as is provided otherwise in this act or specifically by any other law, The governing body of a contracting unit may, by resolution approved by a majority of the governing body and subject to subsections b, and c, of this section, disqualify a bidder who would otherwise be determined to be the lowest responsible bidder, if the governing body finds that it has had prior negative experience with the bidder", The governing body of the municipality has the responsibility of determining whether the expenditures in any category will exceed the bid threshold within the fiscal year and, where question arises as to whether any contract or agreement might result in violation of the statute, the solicitor's opinion shall be sought before a commitment is made,