EXHIBIT B-2
							(Page 2 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
Excess/(Deficiency) of
Revenues Over/
(Under) Expenditures	(517,714)		(5,281,980)	(45,993)	(20,243)	(5,865,930)	(13,639,920)
Other Financing Sources/(Uses):
Bond Proceeds							10,500,000
Transfer to Charter
Schools	(19,506)					(19,506)	(36,485)
Increase in Capital
Reserve	514					514	4,135
I.B.N.R.	248,500					248,500	63,084
Transfers In			204,650	210,853		415,503	632,252
Transfers Out	(204,650)		(210,853)			(415,503)	(632,252)
Total Other Financing
Sources/Uses	24,858		(6,203)	210,853		229,508	10,530,734
Net Change in Fund
Balances	(492,856)		(5,288,183)	164,860	(20,243)	(5,636,422)	(3,109,186)
Fund Balance - July 1	10,324,068		13,091,917	3,918	639,146	24,059,049	27,168,235
Fund Balance - June 30	$9,831,212		7,803,734	168,778	618,903	18,422,627	24,059,049
See Accompanying Notes to Financial Statements