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EXHIBIT B-1 |
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(Page 1 of 2) |
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| MIDDLETOWN TOWNSHIP
BOARD OF EDUCATION |
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| COMBINED BALANCE
SHEET |
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| GOVERNMENTAL FUNDS |
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| FOR THE FISCAL YEAR
ENDED JUNE 30, 2004 |
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| (With Comparative
Totals for June 30, 2003) |
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TOTALS |
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SPECIAL |
CAPITAL |
DEBT |
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(MEMORANDUM ONLY) |
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GENERAL |
REVENUE |
PROJECTS |
SERVICE |
PERMANENT |
JUNE 30, |
JUNE 30, |
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| ASSETS |
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FUND |
FUND |
FUND |
FUND |
FUND |
2004 |
2003 |
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| Cash and Cash Equivalents |
$11,889,476
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1,402,214 |
8,058,254 |
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618,903
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21,968,847
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28,767,763 |
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| Receivables, Net |
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76,044 |
35,820 |
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111,864 |
122,047 |
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| Due From Other Funds |
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210,854 |
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210,854 |
632,252 |
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| Receivables From Other Governments |
438,630
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15,286 |
139,878 |
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593,794 |
1,126,149 |
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| Other Receivables |
395,800 |
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395,800 |
10,531 |
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| Restricted Cash & Cash Equivalents |
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204,136 |
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| Total Assets |
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$12,799,950
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1,453,320 |
8,198,132 |
210,854 |
618,903 |
23,281,159
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30,862,878
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| LIABILITIES
& FUND BALANCES |
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| Liabilities: |
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| Cash Overdraft |
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42,076 |
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42,076 |
599,328 |
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| Accounts Payable |
$2,292,874
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37,101 |
183,544 |
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2,513,519 |
3,128,653 |
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| Intergovernmental - Accounts Payable |
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35,820 |
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35,820 |
38,395 |
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| Other Liabilities |
658,955
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220,678 |
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879,633 |
859,481 |
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| Interfund Payable |
16,909 |
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210,854 |
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227,763 |
632,252 |
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| Deferred Revenue |
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1,159,721 |
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1,159,721 |
1,545,720 |
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| Total Liabilities |
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2,968,738 |
1,453,320 |
394,398 |
42,076 |
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4,858,532 |
6,803,829 |
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| Fund Balances: |
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| Reserved for: |
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| Encumbrances |
2,222,109 |
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7,229,109 |
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9,451,218 |
15,204,519 |
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| Capital Reserve Account |
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204,136 |
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| Excess Surplus |
1,177,310 |
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1,177,310 |
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| 2005-06 per S-1701 |
1,000,000 |
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1,000,000 |
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| I.B.N.R. |
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1,721,700 |
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1,721,700 |
1,473,200 |
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EXHIBIT B-1 |
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(Page 2 of 2) |
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| MIDDLETOWN TOWNSHIP
BOARD OF EDUCATION |
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|
|
| COMBINED BALANCE
SHEET |
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|
|
| GOVERNMENTAL FUNDS |
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| FOR THE FISCAL YEAR
ENDED JUNE 30, 2004 |
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| (With Comparative
Totals for June 30, 2003) |
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TOTALS |
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|
SPECIAL |
CAPITAL |
DEBT |
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(MEMORANDUM ONLY) |
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|
|
|
GENERAL |
REVENUE |
PROJECTS |
SERVICE |
PERMANENT |
JUNE 30, |
JUNE 30, |
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| LIABILITIES
& FUND BALANCES |
FUND |
FUND |
FUND |
FUND |
FUND |
2004 |
2003 |
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| Fund Balances (continued): |
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| Unreserved - Reported in: |
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| Unrestricted - Designated for |
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| Subsequent Year's Expenditures |
1,836,490 |
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1,836,490 |
1,500,000 |
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| General Fund |
1,873,603
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1,873,603 |
4,367,096 |
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| Debt Service Fund |
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168,778 |
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168,778 |
3,918 |
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| Capital Projects Fund |
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574,625
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574,625 |
667,034 |
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| Permanent Fund |
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618,903
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618,903 |
639,146 |
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| Total Fund Balances |
9,831,212 |
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7,803,734 |
168,778 |
618,903 |
18,422,627
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24,059,049
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| Total
Liabilities & Fund Balances |
$12,799,950 |
1,453,320 |
8,198,132 |
210,854 |
618,903 |
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Amounts reported for governmental activities in the
statement of |
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net assets (A-1) 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
$134,990,282 and the accumulated depreciation |
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is $32,027,216. |
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102,963,066
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97,311,235 |
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Accrued interest payable is not recorded
in the fund financial |
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due to the fact that payable is not due
in the current period. |
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(3,059,550) |
(3,267,801) |
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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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(95,048,882) |
(99,308,017) |
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Net assets of Governmental Activities |
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$23,277,261
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18,794,466
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| See
Accompanying Notes to Financial Statements |
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