EXHIBIT B-2
							(Page 1 of 2)
MIDDLETOWN TOWNSHIP BOARD OF EDUCATION
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2004
(With Comparative Totals for June 30, 2003)
						TOTALS
		SPECIAL	CAPITAL	DEBT		(MEMORANDUM ONLY)
	GENERAL	REVENUE	PROJECTS	SERVICE	PERMANENT	JUNE 30,	JUNE 30,
	FUND	FUND	FUND	FUND	FUND	2004	2003
Revenues:
Local Tax Levy	$92,353,253			3,936,343		96,289,596	92,948,756
Tuition Charges	21,309					21,309	38,975
Miscellaneous	1,065,111	140,663	210,853		14,657	1,431,284	1,945,924
State Sources	27,120,941	1,503,023	139,878	1,716,414		30,480,256	27,463,489
Federal Sources	4,167	2,846,861				2,851,028	2,620,678
Total Revenues	120,564,781	4,490,547	350,731	5,652,757	14,657	131,073,473	125,017,822
Expenditures:
Current:
Regular Instruction	40,072,705	2,156,629				42,229,334	40,159,933
Special Education
Instruction	10,373,744					10,373,744	9,382,519
Other Special
Instruction	980,681					980,681	923,587
Other Instruction	1,512,696					1,512,696	1,614,825
Support Services &
Undistributed Costs:
Tuition	4,831,214					4,831,214	4,615,911
Attendance & Social
Work Services	36,868					36,868	34,565
Health Services	1,461,937					1,461,937	1,345,113
Student & Instruction
Related Services	5,975,177	1,850,266			34,900	7,860,343	7,472,785
Educational Media
Services/School
Library	857,074					857,074	815,981
Instructional Staff
Training	225,671					225,671	225,208
School Administrative
Services	1,919,202					1,919,202	2,081,821
Other Administrative
Services	4,989,035					4,989,035	4,717,627
Plant Operations &
Maintenance	10,851,303					10,851,303	10,744,536
Pupil Transportation	7,965,004					7,965,004	7,982,472
Business & Other
Support Services	1,612,261					1,612,261	1,616,816
Unallocated Benefits	22,951,623					22,951,623	20,138,946
Debt Service:
Principal				1,400,000		1,400,000	1,398,000
Interest				4,298,750		4,298,750	3,765,676
Capital Outlay	4,466,300	483,652	5,632,711			10,582,663	19,621,421
Total Expenditures	121,082,495	4,490,547	5,632,711	5,698,750	34,900	136,939,403	138,657,742