PUBLIC NOTICES OF THE BOROUGH OF LAVALLETTE
budget meetings SYNOPSIS OF 2006 AUDIT ORDINANCE NO. 2007-17 (1028)
February 5TH 2007 5:00pm
February 7TH 2007 5:00pm
SYNOPSIS OF 2006 AUDIT REPORT OF
BOROUGH OF LAVALLETTE, COUNTY OF OCEAN
AS REQUIRED BY N.J.S. 40A:5-7
COMBINED COMPARATIVE BALANCE SHEET
REGULATORY ACCOUNTING BASIS
| 2006 | 2005 | |
| Assets | ||
| Cash and Cash Equivalents | $ 4,342,519.02 | $ 5,341,584.05 |
| Investments in LOSAP | 97,967.22 | 59,115.73 |
| Taxes, Assessments and Utility Charges Receivable | 381,285.87 |
263,827.02 |
| Other Receivables | 276,412.34 | 227,835.77 |
| Fixed Capital | 17,433,988.87 | 17,314,940.49 |
| Fixed Capital Authorized and Uncompleted | 1,487,763.94 | 1,538,981.94 |
| Deferred Charges to Future Taxation | 4,582,012.30 | 4,320,733.60 |
|
Deferred Charges to be Raised in |
||
| Succeeding Budgets | 20,000.00 | 60,104.81 |
| General Fixed Assets | 15,507,543.97 | 14,887,865.17 |
|
Total Assets |
$44,129,493.53 |
$ 44,014,988.58 |
|
Liabilities, Reserves and Fund Balance |
||
|
Bond, Loans and Notes Payable |
$ 13,971,629.57 |
$ 14,149.666.87 |
| Improvement Authorizations | 1,179,551 .25 | 1,237,332.47 |
| Other Liabilities and Special Funds | 2,590,159.60 | 3,248,646.17 |
| Reserve for Amortization | 8,252,121.20 | 7,840,026.82 |
| Deferred Reserve for Amortization | 700,205.94 | 685,147.94 |
| Reserve for Receivables and Other Assets | 387,975.61 | 269,035.00 |
| Investment in General Fixed Assets | 15,507,543.97 | 14,887,865.17 |
|
Fund Balance |
1,540,306.39 |
1,697,268.14 |
|
Total Liabilities, Reserves and Fund Balance |
$ 44,129,493.53 |
$ 44,014,988.58 |
SYNOPSIS OF 2006 AUDIT REPORT OF
BOROUGH OF LAVALLETTE, COUNTY OF OCEAN
AS REQUIRED BY N.J.S. 40A:5-7
COMPARATIVE STATEMENT OF OPERATIONS AND
CHANGES IN FUND BALANCE - CURRENT FUND
REGULATORY ACCOUNTING BASIS
|
2006 |
2005 |
|
| Revenue and Other Income Realized | ||
| Fund Balance Utilized | $ 575,000.00 | $ 380,000.00 |
| Miscellaneous - From Other Than Local | ||
| Property Tax Levies | 1,848,271.75 | 1,815,357.57 |
| Receipts from Delinquent Taxes | 136,045.73 | 127,514.19 |
| Receipts from Current Taxes | 13,341,517.14 | 13,066,264.20 |
|
Total Revenues |
15,900,834.62 |
15,389,135.96 |
|
Expenditures |
||
| Budget Expenditures: | ||
| Municipal Purposes | 5,915,657.73 | 5,619,549.18 |
| County Taxes | 6,451,831.56 | 6,245,052.18 |
| Local District School Taxes | 2,946,403.00 | 2,862,908.00 |
|
Other Expenditures |
596.58 |
250.00 |
|
Total Expenditures |
15,314,488.87 |
14,727,759.36 |
| Excess in Revenue | 586,345.75 | 661,376.60 |
| Add Back Charges Which Are By Statute | ||
| Deferred Charges To Succeeding Years’ | ||
| Budgets: | ||
| Emergency Appropriation | 20,000.00 | _ |
| 606,345.75 |
661,376.60 |
|
Fund Balance, January 1 |
895,948.82 |
614,572.22 |
Decreased By: |
1,502,294.57 |
1,275,948.82 |
Utilization as Anticipated Revenue |
575,000.00 |
380,000.00 |
Fund Balance, December31 |
$ 927,294.57 |
$ 895,948.82 |
SYNOPSIS OF 2006 AUDIT REPORT OF
BOROUGH OF LAVALLETTE, COUNTY OF OCEAN
AS REQUIRED BY N.J.S. 40A:5-7
COMPARATIVE STATEMENT OF OPERATIONS AND
CHANGES IN FUND BALANCE - WATER UTILITY OPERATING FUND
REGULATORY ACCOUNTING BASIS
| 2006 | 2005 | |
| Revenue and Other Income Realized | ||
| Fund Balance Utilized | $ 40,000.00 | $ 85,524.00 |
| Collection of Water Rents | 580,000.00 | 495,000.00 |
|
Miscellaneous - From Other Than |
271,970.60 |
232,800.35 |
| Fire Hydrant Service | 22,050.00 | 20,500.00 |
Total Revenues |
914,020.60 |
833,824.35 |
Expenditures |
||
| Operating | 417,000.00 | 448,000.00 |
| Capital Improvements | 32,500.00 | 15,000.00 |
| Debt Service | 314,339.01 | 324,248.70 |
| Deferred Charges and Statutory Expenditures | 58,000.00 |
21,900.00 |
|
Total Expenditures |
821,839.01 |
809,148.70 |
Excess in Revenue |
92,181.59 |
24,675.65 |
| Add Back Charges Which Are By Statute | ||
| Deferred Charges To Succeeding Years’ | ||
| Budgets: | ||
| Emergency Appropriation | ____________ | 35,000.00 |
92,181.59 |
59,675.65 |
|
Fund Balance, January 1 |
89,268.91 |
115,117.26 |
Decreased By: |
181,450.50 |
174,792.91 |
Utilization as Anticipated Revenue |
40,000.00 |
85,524.00 |
Fund Balance, December 31 |
$ 141,450.50 |
$ 89,268.91 |
SYNOPSIS OF 2006 AUDIT REPORT OF
BOROUGH OF LAVALLETTE, COUNTY OF OCEAN
AS REQUIRED BY N.J.S. 40A:5-7
COMPARATIVE STATEMENT OF OPERATIONS AND
CHANGES IN FUND BALANCE - SEWER UTILITY OPERATING FUND
REGULATORY ACCOUNTING BASIS
| 2006 | 2005 | |
| Revenue and Other Income Realized | ||
| Fund Balance Utilized | $ 80,000.00 | $ 120,325.00 |
| Collection of Sewer Rents | 1,158,982.02 | 1,085,829.03 |
| Miscellaneous - From Other Than Sewer Rents |
102,242.54 |
131,035.02 |
| Other Credits to Income | 93,173.70 | 18,560.18 |
|
Total Revenues |
1,434,398.26 |
1,355,749.23 |
|
Expenditures |
||
|
Operating |
887,710.00 |
878,275.00 |
| Capital Improvements | 5,400.00 | 12,500.00 |
| Debt Service | 419,046.85 | 423,249.04 |
| Deferred Charges and Statutory Expenditures |
21,000.00 |
17,900.00 |
Total Expenditures |
1,333,156.85 |
1,331,924.04 |
Excess in Revenue |
101,241.41 |
23,825.19 |
Fund Balance, January 1 |
96,381.85 |
192,881.66 |
197,623.26 |
216,706.85 |
|
| Decreased By: | ||
| Utilization as Anticipated Revenue | 80,000.00 | 120,325.00 |
| Fund Balance, December 31 | $ 117,623.26 | $ 96,381.85 |
SYNOPSIS OF 2006 AUDIT REPORT OF
BOROUGH OF LAVALLETTE, COUNTY OF OCEAN
AS REQUIRED BY N.J.S. 40A:5-7
COMPARATIVE STATEMENT OF OPERATIONS AND
CHANGES IN FUND BALANCE - ELECTRIC UTILITY OPERATING FUND
REGULATORY ACCOUNTING BASIS
| 2006 | 2005 | |
|
Revenue and Other Income Realized
|
||
| Fund Balance Utilized | $ 225,000.00 | $ 296,100.00 |
| Collection of Electric Rents | 1,846,634.66 | 1,956,185.74 |
| Miscellaneous - From Other Than Electric Rents |
32,002.85 |
26,668.73 |
| Other Credits to Income | 16,519.99 |
7 |
|
Total Revenues |
2,120,157.50 |
2,358,278.00 |
|
Expenditures
|
||
| Operating | 1,998,000.00 | 1,908,000.00 |
| Capital Improvements | 5,400.00 | 12,500.00 |
| Deferred Charges and Statutory Expenditures | 34,000.00 |
29,600.00 |
|
Total Expenditures |
2,037,400.00 |
1,950,100.00 |
|
Excess in Revenue |
82,757.50 |
408,178.00 |
|
Fund Balance, January 1 |
413,595.08 |
301,517.08 |
|
496,352.58 |
709,695.08 |
|
|
|
||
| Decreased By: | ||
|
Utilization as Anticipated Revenue |
225,000.00 |
296,100.00 |
|
Fund Balance, December31 |
$ 271,352.58 |
$ 413,595.08 |
SYNOPSIS OF 2006 AUDIT REPORT OF
BOROUGH OF LAVALLETTE, COUNTY OF OCEAN
AS REQUIRED
BY N.J.S. 40A:5-7
It is recommended that:
As it relates to the Finance Office
• The Borough take action
to fund all ordinances.
As it relates to the Municipal Court:
• All checks have two
signatures on them.
The above Synopsis was prepared from the report of
audit of the Borough of Lavallette, County of Ocean, State of New Jersey
for the calendar year 2006. A Corrective Action Plan outlining actions to
be taken by the Borough of Lavallette to correct the above finding will be
prepared in accordance with federal and state guidelines. A copy of the
Plan will be on file and available for public inspection with the Borough
Clerk in the Borough of Lavallette no later than 60 days from the
Borough’s receipt of the audit in compliance with directives from the
Division of Local Government Services. This report of audit, submitted by
Douglas R. Gannon, Registered Municipal Accountant, is on file at the
Borough Clerk’s office and may be inspected by any interested person.
___________________
Borough Clerk
ORDINANCE
OF THE BOROUGH OF LAVALLETTE, COUNTY OF OCEAN, STATE OF NEW JERSEY,
AMENDING AND SUPPLEMENTING CHAPTER 24 OF THE BOROUGH CODE, ENTITLED
“ELECTRICAL STANDARDS” SO AS TO REVISE SECTION 24-10 ENTITLED
“RATES”
BE IT ORDAINED, by the governing body of the Borough of Lavallette,
County of Ocean, State of New Jersey, as follows:
SECTION 1. Chapter 24 of the Borough Code entitled “Electrical
Standards” is hereby amended and supplemented so as to revise Section
24-10 entitled “Rates”, so as to read in its entirety as follows:
24-10.
Rates.
A. June
1st through September 30th
(1)
The rates to be charged for residential service shall be as
follows:
(a)
Base service charge to each user: $14.75 per month.
(b)
For each kwh per month: $0.17000 per kwh.
(c)
Where electric service is provided to a multiple living unit
installation having one (1) electric meter, the user shall pay the
following:
{1}
A base service charge of $14.75 per month times the number of
living units being served, whether occupied or not.
{2} For each kwh per month: $0.17000 per kwh.
(2)
The rates to be charged for residential service -- total electric
shall be as follows:
(a)
Base service charge to each user: $14.75 per month.
(b) For each kwh per month: $0.17000 per kwh.
(3)
The rates to be charged for general service shall be as follows:
(a)
Base service charge to each user: $14.75 per month.
(b) For each kwh per month: $0.18500 per kwh.
B. October
1st through May 31st
(1)
The rates to be charged for residential service shall be as
follows:
(a)
Base service charge to each user: $14.75 per month.
(b)
For each kwh per month: $0.14300 per kwh.
(c)
Where electric service is provided to a multiple living unit
installation having one (1) electric meter, the user shall pay the
following:
{1}
A base service charge of $14.75 per month times the number of
living units being served, whether occupied or not.
{2} For each kwh per month: $0.14300 per kwh.
(2)
The rates to be charged for residential service -- total electric
shall be as follows:
(a)
Base service charge to each user: $14.75 per month.
(b)
From zero (0) to three hundred (300), kwh’s per month: $0.14300
per kwh.
(c) For over three hundred (300) kwh’s: $0.13925 per kwh.
(3)
The rates to be charged for general service shall be as follows:
(a)
Base service charge to each user: $14.75 per month.
(b) For each kwh per month: $0.15800 per kwh.
SECTION 2. If any section, subsection, sentence, clause, phrase or
portion of this ordinance is for any reason held to be invalid or
unconstitutional by a court of competent jurisdiction, such portion shall
be deemed a separate, distinct and independent provision, and such holding
shall not affect the validity of the remaining portions hereof.
SECTION 3. This ordinance shall take effect after second reading and publication as required by law.
SECTION 4. The new rate schedule shall apply to all electric billings that occur on or after January 1st of 2008.
BOROUGH
OF LAVALLETTE
NOTICE
OF PENDING ORDINANCE
ORDINANCE NO. 2007-17 (1028)
ORDINANCE
OF THE BOROUGH OF LAVALLETTE, COUNTY OF OCEAN, STATE OF NEW JERSEY,
AMENDING AND SUPPLEMENTING CHAPTER 24 OF THE BOROUGH CODE, ENTITLED
“ELECTRICAL STANDARDS” SO AS TO REVISE SECTION 24-10 ENTITLED
“RATES”
Take Notice the ordinance published herewith was introduced and passed upon first reading at a meeting of the governing body of the Borough of Lavallette, in the County of Ocean, State of New Jersey on December 3, 2007. It will be further considered for final passage after public hearing thereon, at a meeting of said governing body to be held in Borough Hall, 1306 Grand Central Avenue, Lavallette, New Jersey, on December 17, 2007 at 7:00 p.m. or as soon thereafter as said matter can be reached, at which time and place all persons who may be interested therein shall be given the opportunity to be heard concerning said Ordinance.
A copy of this Ordinance has been posted on the bulletin board upon
which public notices are customarily posted in the Borough Hall of the
Borough during the week prior to and up to and including the date of such
meeting; copies of the ordinance are available to the general public of
the Borough who shall request such copies, at the office of the Municipal
Clerk in said Borough of Lavallette, in the County of Ocean, New Jersey.
_____________________
CHRISTOPHER F. PARLOW
Municipal Clerk
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