SUMMARY OR SYNOPSIS OF THE 2008 REPORT OF AUDIT OF THE
TOWNSHIP OF FRANKLIN, COUNTY OF SOMERSET, NEW JERSEY
AS REQUIRED BY NJSA 40A:5-7
COMBINED BALANCE SHEET
ASSETS |
BALANCE JUNE 30, 2008 |
BALANCE JUNE 30, 2007 |
|
Cash and Investments |
85,627,838.31 |
100,316,975.71 |
|
Prospective Assmts. Funded |
90,000.00 |
90,000.00 |
|
Accounts Receivable: |
|
|
|
State and Federal Grants |
3,948,833.11 |
3,212,681.35 |
|
Due from State of NJ |
257,999.10 |
263,324.51 |
|
Taxes, Assmts., Liens |
3,691,021.09 |
3,718,636.62 |
|
and Utility Charges |
|
|
|
Property Acquired for Taxes |
329,973.00 |
329,973.00 |
|
at Assessed Value |
|
|
|
Prepaid Taxes |
|
|
|
Interfund Loans |
11,006,591.90 |
16,839,314.77 |
|
Other Accounts Receivable |
4,035,670.52 |
4,392,067.31 |
|
Inventory |
218,272.55 |
218,272.55 |
|
Deferred Charges to Revenue of |
|
|
|
Succeeding Years |
|
100,000.00 |
|
Deferred Charges to Future Taxation: |
54,456,103.15 |
60,124,247.20 |
|
Funded |
13,937,432.27 |
13,962,802.79 |
|
Unfunded |
25,067,277.43 |
25,067,277.43 |
|
Fixed Capital |
|
|
|
Fixed Capital – Authorized |
20,672,945.00 |
15,743,695.00 |
|
and Uncompleted |
|
|
|
Fixed Assets |
50,214,913.28 |
50,281,744.14 |
|
|
|
|
|
Total Assets |
$273,554,870.71 |
$294,661,012.38 |
COMBINED BALANCE SHEET
LIABILITIES, RESERVEDAND FUND BALANCE |
BALANCE JUNE 30, 2008 |
BALANCE JUNE 30, 2007 |
|
Bonds and Notes Payable |
$54,701,750.00 |
$60,743,750.00 |
|
Loans Payable |
6,555,575.27 |
7,486,006.58 |
|
Prepaid Taxes and Utility Charges |
279,258.41 |
316,040.52 |
|
Tax Utility Charge and Other Overpayments |
50,839.99 |
46,124.38 |
|
Appropriation Reserves |
8,964,047.59 |
3,757,275.31 |
|
Reserve Encumbrances |
7695,414.48 |
7,030,037.41 |
|
Amounts Pledged to Specific Purposes |
59,098,848.63 |
64,230,953.79 |
|
Developers Deposits and Escrow Funds |
1,877,909.00 |
1,639,632.27 |
|
Improvement Authorizations |
27,805,717.10 |
35,919,253.41 |
|
Interfund Loans |
11,006,591.90 |
16,839,314.77 |
|
Other Liabilities |
6,395,679.90 |
1,008,632.09 |
|
Reserve for Certain Assets Receivable |
5,930,108.59 |
10,595,773.46 |
|
Investment in General Fixed Assets |
50,214,913.28 |
50,281,744.14 |
|
Fund Balance |
32,978,217.26 |
34,766,474.25 |
|
|
|
|
|
Total Liabilities, Reserves and Fund Balance |
$273,554,870.71 |
$294,661,012.38 |
COMPARATIVE STATEMENT OF OPERATIONS AND CHANGE
|
|
SFY 2008 |
SFY 2007 |
||
|
Revenue and Other Income Realized |
Amount |
% |
Amount |
% |
|
|
|
|
|
|
|
Fund Balance Utilized |
14,516,585.97 |
6.87 |
7,981,273.52 |
3.95 |
|
Miscellaneous – From Other |
|
|
|
|
|
Than Local Property Tax Levies |
24,837,672.00 |
11.76 |
18,908,290.05 |
9.37 |
|
Collection of Delinquent Taxes and |
|
|
|
|
|
Tax Title Liens |
1,776,752.27 |
0.84 |
2,173,882.18 |
1.08 |
|
Collection of Current Tax Levy |
170,125,718.87 |
80.53 |
172,820,022.26 |
85.60 |
|
|
|
|
|
|
|
Total Income |
211,256,729.11 |
100.00 |
201,883,468.01 |
100.00 |
|
|
|
|
|
|
Expenditures |
|
|
|
|
|
|
|
|
|
|
|
Budget Expenditures: |
|
|
|
|
|
Municipal Purposes |
55,041,447.61 |
27.87 |
50,343,856.16 |
26.00 |
|
Special District Taxes |
4,385,185.29 |
2.22 |
5,155,648.40 |
2.66 |
|
County Taxes |
26,325,937.69 |
13.33 |
27,638,639.14 |
14.27 |
|
Local School Taxes |
106,032,518.00 |
53.70 |
102,485,098.00 |
52.92 |
|
Local Open Space Tax |
5,677,134.00 |
2.88 |
4,532,655.00 |
2.34 |
|
Other Expenditures |
|
|
3,488,595.61 |
1.80 |
|
|
|
|
|
|
|
Total Expenditures |
197,462,222.59 |
100.00 |
193,644,492.61 |
100.00 |
|
|
|
|
|
|
|
Excess in Revenue |
13,794,506.52 |
|
8,238,975.70 |
|
|
|
|
|
|
|
|
Adj. To Income Before Fund Balance: |
|
|
|
|
|
Expend. Included Above Which are |
|
|
|
|
|
By Statue Deferred Charges to |
|
|
|
|
|
Budget of Succeeding Years |
_______ _____ |
|
100,000.00 |
|
|
|
|
|
|
|
|
Statutory Excess to Fund Balance |
13,794,506.52 |
|
8,338,975.70 |
|
|
|
|
|
|
|
|
Fund Balance – Beginning |
25,058,187.91 |
|
24,700,485.73 |
|
|
|
|
|
|
|
|
|
38,852,694.43 |
|
33,039,461.43 |
|
|
Less: |
|
|
|
|
|
Utilized as Anticipated Revenue |
14,516,585.97 |
|
7,981,273.52 |
|
|
|
|
|
|
|
|
Fund Balance – Ending |
$24,336,108.46 |
|
$25,058,187.91 |
|
COMPARATIVE STATEMENT OF OPERATIONS AND CHANGE
|
|
SFY 2008 |
SFY 2007 |
||
|
Revenue and Other Income Realized |
Amount |
% |
Amount |
% |
|
|
|
|
|
|
|
Fund Balance |
$3,086,043.73 |
21.61 |
$1,681,609.05 |
12.90 |
|
|
|
|
|
|
|
Collection of Water & Fire Service Rents |
9,368,650.85 |
65.62 |
9,410,992.69 |
72.19 |
|
|
|
|
|
|
|
Miscellaneous – From Other |
|
|
|
|
|
Than Water Rents |
1,822,877.53 |
12.77 |
1,943,024.07 |
14.91 |
|
|
|
|
|
|
|
Total Income |
14,277,572.11 |
100.00 |
13,035,625.81 |
100.00 |
|
|
|
|
|
|
|
|
|
|
|
|
Expenditures |
|
|
|
|
|
|
|
|
|
|
|
Budget Expenditures: |
|
|
|
|
|
Operating |
10,458,141.11 |
85.00 |
9,514,754.00 |
85.24 |
|
Capital Improvements |
100,000.00 |
0.81 |
|
|
|
Debt Service |
1,580,743.82 |
12.85 |
1,509,342.63 |
13.52 |
|
Deferred Charges and |
|
|
|
|
|
Statutory Expenditures |
164,730.70 |
1.34 |
138,074.92 |
1.24 |
|
Other Expenditures |
|
|
514.24 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Expenditures |
12,303,615.63 |
100.00 |
11,162,685.79 |
100.00 |
|
|
|
|
|
|
|
Excess in Revenue |
1,973,956.48 |
|
1,872,940.02 |
|
|
|
|
|
|
|
|
Fund Balance – Beginning |
8,224,312.68 |
|
8,032,981.71 |
|
|
|
|
|
|
|
|
|
10,198,269.16 |
|
9,905,921.73 |
|
|
Less: |
|
|
|
|
|
Utilized as Anticipated Revenue |
3,086,043.73 |
|
1,681,609.05 |
|
|
|
|
|
|
|
|
Fund Balance – Ending |
7,112,225.43 |
|
8,224,312.68 |
|
We recommend the following:
That the Municipal Court open bail list be proved to the account balance on a monthly basis.
That accounts receivable balances for all funds be reviewed as to their current status and appropriate action taken.
That a review of accounts payable balances be made to determine the validity of the accounts payable balance.
That all bank reconciliations be performed and agreed on the general ledger.
That reconciling items be adjusted in the general ledger on a timely basis, in order to bring the general ledger in proof with bank reconciliation.
That monthly reports from the third party for the Flexible Spending Account be downloaded so the correct amount of disbursements for the month can be posted to the general ledger.
That the signature on the Flexible Spending Account checks be updated for the current CFO.
That the Township take the proper steps to obtain reimbursements from SCIA for payments the Township made to vendors for equipment purchases.
That prior years grants receivable balances and unexpended grant reserve balances be reviewed for the proper disposition.
That all transactional activity be recorded for developers escrow and that escrow accounts for amounts deposited for less than $5,000.00 be reconciled to subsidiary accounts.
That the employees listed on the health insurance be compared to payroll records for the same period to insure that the correct adjustments have been made to the bill for that quarter.
* * * * * * * *
The above summary or synopsis was prepared from the Report of Audit of the Township of Franklin, Somerset County, New Jersey for the State Fiscal Year ended June 30, 2008. The financial data included in the summary or synopsis is presented in the form prescribed by the Local Finance Board, Department of Community Affairs, State of New Jersey. Readers are cautioned that the summary or synopsis was prepared solely for the purpose of compliance with the public disclosure provisions of N.J.S.A. 40A:5-76, and accordingly, the summary or synopsis should not be relied upon for any other purpose. The Report of Audit, submitted by Andrew G. Hodulik, Registered Municipal Accountant, is on file at the Township Clerk’s Office and may be inspected by any interested persons during regular business hours, Monday through Friday, 7:30 a.m. to 4:30 p.m.
A Corrective Action Plan outlining actions to be taken by the Township of Franklin to correct the above findings 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 Township Clerk in compliance with directives from the Division of Local Government Services.
Ann Marie McCarthy, RMC, CMC
Franklin Township Clerk
TOWNSHIP COUNCIL OF THE TOWNSHIP OF FRANKLIN
PUBLIC NOTICE
BOND ORDINANCE NO. 3823, AS AMENDED, STATEMENTS AND SUMMARY
The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Township Council of the Township of Franklin, in the County of Somerset, State of New Jersey on April 28, 2009 and the twenty (20) day period of limitation within which a suit, action or proceeding questioning the validity of such ordinance can be commenced, as provided in the Local Bond Law, has begun to run from the date of the first publication of this statement. Copies of the full ordinance are available at no cost and during regular business hours, at the Clerk’s office for members of the general public who request the same. The summary of the terms of such bond ordinance follows:
|
Title: |
BOND ORDINANCE PROVIDING FOR VARIOUS 2009 CAPITAL IMPROVEMENTS FOR THE WATER UTILITY OF THE TOWNSHIP OF FRANKLIN, IN THE COUNTY OF SOMERSET, STATE OF NEW JERSEY (THE "TOWNSHIP"); APPROPRIATING $482,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $482,000 BONDS OR NOTES OF THE WATER UTILITY OF THE TOWNSHIP TO FINANCE THE COSTS THEREOF |
|
Purpose(s): |
To provide for various capital equipment and improvements relating to the Water Utility System, including, but not limited to, the acquisition and installation of a Phase III Automatic Water Meter Reading System, upgrades to the SCADA system and upgraded geographic information system. |
|
Appropriation: |
$482,000 |
|
Bonds/Notes Authorized: |
$482,000 |
|
Down Payment: |
None; Water Utility is self-liquidating |
|
Grant(s) Appropriated: |
None |
|
Section 20 Costs |
$55,150 |
|
Useful Life: |
7.85 years |
______________________________
ANN MARIE MCCARTHY,
Township Clerk
FRANKLIN TOWNSHIP, SOMERSET COUNTY
PUBLIC NOTICE
INTRODUCED ORDINANCE NO. 3828
The following Ordinance was Introduced and read for the first time at a regular meeting of the Township Council of the Township of Franklin, County of Somerset and State of New Jersey on April 28, 2009. This Ordinance will be further considered for final passage by the said Township Council, at the Municipal Complex, 475 DeMott Lane, Somerset NJ on May 26, 2009 at a meeting beginning at 7:00 pm, or at any time and place to which such meeting may be adjourned. All persons interested will be given the opportunity to be heard concerning such Ordinance. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available at no cost and during regular business hours, at the Clerk’s office for the members of the general public who shall request the same.
AN ORDINANCE AMENDING THE CODE OF THE TOWNSHIP OF FRANKLIN, COUNTY OF SOMERSET AND STATE OF NEW JERSEY, MORE PARTICULARLY CHAPTER 260, PARKS AND RECREATION, SECTION 260-11, EXCLUSIVE-USE PERMITS FOR PARK FACILITIES AND SECTION 260-15, REVIEW BY DIRECTOR.
An ordinance amending Code Chapter 260, Parks and Recreation, Section 260-1, Exclusive-Use Permits for Park Facilities by increasing the fees for softball fields, basketball courts and tennis courts for tournaments from $5 to $10 for a 4 hour period and adding the following in Section 260-15, Review by Director, “A non-refundable fee be assessed to the permit holder in the amount to be determined by the actual estimated cost of placing one or more portable toilets at a facility specifically required as a result of the applicant’s intended use.”
Ann Marie McCarthy, RMC, CMC
Township Clerk
FRANKLIN TOWNSHIP, SOMERSET COUNTY
PUBLIC NOTICE
INTRODUCED ORDINANCE NO. 3829
The following Ordinance was Introduced and read for the first time at a regular meeting of the Township Council of the Township of Franklin, County of Somerset and State of New Jersey on April 28, 2009. This Ordinance will be further considered for final passage by the said Township Council, at the Municipal Complex, 475 DeMott Lane, Somerset NJ on May 26, 2009 at a meeting beginning at 7:00 pm, or at any time and place to which such meeting may be adjourned. All persons interested will be given the opportunity to be heard concerning such Ordinance. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available at no cost and during regular business hours, at the Clerk’s office for the members of the general public who shall request the same.
AN ORDINANCE AMENDING CODE OF THE TOWNSHIP OF FRANKLIN, COUNTY OF SOMERSET, NEW JERSEY CHAPTER 226, VEHICLES AND TRAFFIC, SECTION 226-31C – REGULATIONS FOR THE MOVEMENT AND THE PARKING OF TRAFFIC ON ALL OTHER PRIVATE PROPERTY – ADDING SOMERSET RUN.
An ordinance amending Ordinance No. 3786 that provides for the regulations for the movement and the parking of traffic in Somerset Run including regulations for parking; stopping/standing prohibited; stop intersections; tow away and no passing zones.
Ann Marie McCarthy, RMC, CMC
Township Clerk
FRANKLIN TOWNSHIP
SOMERSET COUNTY
PUBLIC NOTICE OF CHANGE ORDERS
The Township of Franklin, County of Somerset and State of New Jersey has AWARDED A CHANGE ORDER IN CONNECTION WITH A CONTRACT AWARDED at a meeting held on April 28, 2009. The contracts and the resolutions authorizing same are available for public inspection in the office of the Township Clerk.
Change Orders #1 & #2
Vendor: J&A Renovation
Address: 156 Dayton Avenue, Somerset, NJ 08873
Project: Housing Rehabilitation – 13 Angel Place
Change Order #1 Amount: $ 1,800.00
New Contract Total: $13,350.00
Ann Marie McCarthy, RMC, CMC
Township Clerk
FRANKLIN TOWNSHIP, SOMERSET COUNTY
NON-FAIR& OPEN CONTRACTS AWARDED
The Township of Franklin, County of Somerset and State of New Jersey has awarded Non-Fair and Open Professional Services Contracts and Non-Fair and Open Contract without competitive bidding pursuant to Local Public Contracts Law N.J.S.A. 19:44A-20.4 et seq. and N.J.S.A. 40A:11-5(1)(A) at a meeting held on April 28, 2009. The contracts and the resolutions authorizing same are available for public inspection in the office of the Township Clerk.
VENDOR NAME: FAREWELL MILLS GATSCH
Princeton, NJ 08540
CONTRACT AMOUNT: $54,975.00
SERVICE: Franklin Inn (Cornelius Van Liew House) Preparation of a Historic Structure Report
Ann Marie McCarthy, RMC, CMC
Township Clerk
FRANKLIN TOWNSHIP, SOMERSET COUNTY
PUBLIC NOTICE OF FAIR AND OPEN PROFESSIONAL SERVICES
CONTRACTS AWARDED
The Township of Franklin, County of Somerset and State of New Jersey has AWARDED CONTRACTS as FAIR AND OPEN PROFESSIONAL SERVICES CONTRACTS pursuant to Local Public Contracts Law N.J.S.A. 40A:11-5(1)(A) and N.J.S.A. 19:44A-20.5 at a meeting held on April 14, 2009. The contracts and the resolutions authorizing same are available for public inspection in the office of the Township Clerk.
APPRAISAL CONSULTANTS CORP. MARTIN APPRAISAL ASSOCIATES, INC.
2893 Eisenhower parkway, Suite 200 123 Franklin Corner Road, Suite 203
Livingston, NJ 07039-1711 Lawrenceville, NJ 08648
$175 per hour $150 per hour
Appraisal Services
Amount Not to Exceed $124,000.00
Contract period of May 1, 2009 to April 30, 2010:
Vendor |
Address |
|
Carroll Engineering |
105 Raider Blvd., Ste. 206, Hillsborough, NJ 08844 |
|
Birdsall Engineering Group |
65 Jackson Drive, Cranford, NJ |
|
Gannet Fleming |
Southfield Ctr., Ste. 205, One Cragwood Rd., S. Plainfield, NJ 07080 |
|
Remington & Vernick |
232 Kings Highway East, Haddonfield, NJ 08033 |
|
CME |
3141 Bordentown Avenue, Parlin, NJ 08859 |
|
CMX (Current Projects Only) |
41 South Main Street, Phillipsburg, NJ 08865 |
CONTRACT AMOUNT: $70,000.00 per vendor with a total aggregate amount not to exceed $200,000.00
SERVICE: Engineering Consultant Services, as needed
December 1, 2008 to November 30, 2009
Ann Marie McCarthy, RMC, CMC
Township Clerk