State Highway Improvement

The State Highway Improvement Fund is another fund mandated by the State. The revenue for this fund is derived solely from gasoline and auto taxes and is equal to 7 1/2% of the total amount granted to the community. The money for this fund must be spent on state highways. Because of this stipulation, all monies received must be spent on State Route 48 (Far Hills Avenue).

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	Actual	Actual	Actual	Actual	Budget
	2022	2023	2024	2025	2026
	($)	($)	($)	($)	($)
Revenue
Motor Vehicle License Fee	3,534	3,803	4,411	3,776	4,000
Gasoline Tax	34,110	35,804	35,838	36,472	35,000
Permissive Tax	8,505	8,164	7,527	8,088	8,400
Other	-	-	-	-	-
Total Revenue	46,149	47,771	47,776	48,336	47,400
Expenditures
Contractual Services
Far Hills Traffic Signal Maint.	15,943	13,645	18,481	19,030	20,000
Far Hills Traffic Signal Power	6,900	7,059	8,136	8,672	13,050
Other	2,000	-	-	-	2,000
Total Contractual Services	24,843	20,704	26,617	27,702	35,050
Materials and Supplies
Road Salt	9,000	13,500	-	15,487	13,500
Other	-	-	-	-	-
Total Materials and Supplies	9,000	13,500	-	15,487	13,500
Miscellaneous
Other	-	-	-	-	100
Total Miscellaneous	-	-	-	-	100
Total Expenditures	33,843	34,204	26,617	43,189	48,650
Excess (Deficiency) of Revenues over Expenditures	12,306	13,567	21,159	5,147	(1,250)
Net Change in Fund Balance	12,306	13,567	21,159	5,147	(1,250)
Cash Balance, Jan. 1	139,326	168,064	182,389	205,346	210,493
Add: Receipts	46,149	47,771	47,776	48,336	47,400
Less: Disbursements	(17,411)	(33,446)	(24,819)	(43,189)	(47,778)
Cash Balance, Dec. 31	168,064	182,389	205,346	210,493	210,115
Less: Outstanding Encumbrances	(18,462)	(19,219)	(21,017)	(9,128)	(10,000)
Unencumbered Fund Balance, Dec. 31	149,602	163,170	184,329	201,365	200,115