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EXHIBIT B-1 |
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| MIDDLETOWN TOWNSHIP
BOARD OF EDUCATION |
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| BALANCE SHEET[1] |
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| GOVERNMENTAL FUNDS |
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| JUNE 30, 2002 |
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SPECIAL |
CAPITAL |
DEBT |
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TOTAL |
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GENERAL |
REVENUE |
PROJECTS |
SERVICE |
PERMANENT |
GOVERNMENTAL |
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FUND |
FUND |
FUND |
FUND |
FUND |
FUNDS |
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| Assets: |
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| Cash and Cash Equivalents |
$12,383,489 |
1,407,692 |
18,747,772 |
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649,376 |
33,188,329 |
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| Receivables, Net |
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69,419 |
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69,419 |
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| Due From Other Funds |
37,325 |
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797 |
747,595 |
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785,717 |
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| Receivables From Other Governments |
1,923,828 |
18,875 |
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73,081 |
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2,015,784 |
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| Other Receivables |
208,527 |
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208,527 |
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| Restricted Cash & Cash Equivalents |
200,001 |
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200,001 |
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| Total assets |
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14,753,170 |
1,495,986 |
18,748,569 |
820,676 |
649,376 |
36,467,777 |
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| Liabilities
and Fund Balances: |
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| Liabilities: |
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| Cash Overdraft |
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767,101 |
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767,101 |
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| Accounts Payable |
1,169,244 |
34,237 |
1,653,475 |
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2,856,956 |
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| Intergovernmental - Accounts Payable |
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69,419 |
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69,419 |
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| Other Liabilities |
3,451,594 |
180,671 |
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3,632,265 |
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| Interfund Payable |
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761,345 |
797 |
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762,142 |
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| Deferred Revenue |
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1,211,659 |
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1,211,659 |
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| Total Liabilities |
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4,620,838 |
1,495,986 |
2,414,820 |
767,898 |
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9,299,542 |
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| Fund Balances: |
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| Reserved for: |
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| Encumbrances |
2,757,827 |
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6,676,567 |
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9,434,394 |
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| Legally Restricted - Designated for |
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| Subsequent Year's Expenditures |
775,000 |
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775,000 |
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| Capital Reserve Account |
200,001 |
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200,001 |
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| I.B.N.R. |
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1,410,116 |
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1,410,116 |
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| Unreserved, Reported in: |
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| General Fund |
4,989,388 |
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4,989,388 |
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| Debt Service Fund |
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52,778 |
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52,778 |
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| Capital Projects Fund |
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9,657,182 |
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9,657,182 |
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| Permanent Fund |
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649,376 |
649,376 |
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| Total Fund Balances |
10,132,332 |
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16,333,749 |
52,778 |
649,376 |
27,168,235 |
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| Total
Liabilities & Fund Balances |
$14,753,170 |
1,495,986 |
18,748,569 |
820,676 |
649,376 |
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Amounts reported for governmental activities in the statement
of |
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net assets (A-5) are different because: |
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Capital assets used in governmental
activities are not financial |
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resources and therefore are not
reported in the funds. The cost |
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of the assets is $111,253,870, and the
accumulated depreciation |
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is $26,458,421. |
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$84,795,449 |
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Long-term liabilities, including bonds
payable, are not due and |
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payable in the current period and
therefore are not reported as |
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liabilities in the funds (see
Illustrative Note 5) |
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(94,623,645) |
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Net assets of Governmental Activities |
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$17,340,039 |
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