BOROUGH OF SOMERVILLE
SOMERSET COUNTY, NEW JERSEY
COMBINED BALANCE SHEET - ALL FUNDS
AS OF DECEMBER 31, 2021
Columns: CURRENT FUND; TRUST FUND; GENERAL CAPITAL FUND; SEWER UTILITY FUND; PARKING UTILITY FUND; PUBLIC ASSISTANCE FUND; GOVERNMENTAL FIXED ASSETS; MEMORANDUM TOTAL ONLY DEC. 31,2021; MEMORANDUM TOTAL ONLY DEC. 31,2020.
| CURRENT | TRUST | GENERAL CAPITAL |
SEWER | PARKING | PUBLIC ASSISTANCE |
GOVERNMENTAL | MEMORANDUM TOTAL ONLY | ||
|---|---|---|---|---|---|---|---|---|---|
| FUND | FUND | FUND | UTILITY FUND | UTILITY FUND | FUND | FIXED ASSETS | DEC. 31,2021 | DEC. 31,2020 | |
| ASSETS | |||||||||
| Cash and Investments | $16,182,834.18 |
$4,713,517.78 |
$5,258,196.08 |
$3,375,417.09 |
$1,318,918.53 |
$30,848,883.66 |
$26,498,876.49 |
||
| Due from State of NJ - SC/Vet Deductions | 41,848.51 | 41,848.51 | 40,749.19 | ||||||
| Accounts Receivable: | |||||||||
| State & Federal Grants Receivable | 1,224,408.07 | 52,646.89 | 3,945,022.31 | 5,222,077.27 | 5,506,908.36 | ||||
| Taxes, Assessments, Liens & Utility Charges |
876,384.57 | 1,137.76 | 326,271.32 | 1,203,793.65 | 1,304,585.75 | ||||
| Interfund Loans | 1,853,565.43 | 240,780.20 | 22,875.06 | 524,095.80 | $25,533.60 |
2,666,850.09 | 1,753,059.78 | ||
| Other Accounts Receivable | 7,803.24 | 3,303.34 | 11,106.58 | 11,106.58 | |||||
| Property Acquired for Taxes at Assessed Valuation |
28,500.00 | 28,500.00 | 28,500.00 | ||||||
| Fixed Assets - General | $28,394,823.00 |
28,394,823.00 | 29,494,225.00 | ||||||
| Fixed Capital - Utility | 8,079,043.80 | 175,000.00 | 8,254,043.80 | 8,254,043.80 | |||||
| Deferred Charges to Future Taxation: | |||||||||
| Emergency Authorizations | 1,350,000.00 | 1,350,000.00 | |||||||
| General Capital Fund | 25,359,975.00 | 25,359,975.00 | 27,607,696.87 | ||||||
$21,565,344.00 |
$5,008,082.63 |
$34,589,371.79 |
$12,304,828.01 |
$1,493,918.53 |
$25,533.60 |
$28,394,823.00 |
$103,381,901.56 |
$100,499,751.82 |
|
|
LIABILITIES, RESERVES AND FUND BALANCE |
CURRENT | TRUST | GENERAL CAPITAL |
SEWER | PARKING | PUBLIC ASSISTANCE |
GOVERNMENTAL | MEMORANDUM TOTAL ONLY | |
| FUND | FUND | FUND | UTILITY FUND | UTILITY FUND | FUND | FIXED ASSETS | DEC. 31,2021 | DEC. 31,2020 | |
| Bonds and Notes Payable | $13,130,000.00 |
$1,020,000.00 |
$14,150,000.00 |
$15,955,000.00 |
|||||
| Loans Payable | 10,598,616.27 | 10,598,616.27 | 4,818,701.32 | ||||||
| Prepaid Taxes, Assessments, Utility Charges and Licenses |
$429,726.12 |
429,726.12 | 417,093.82 | ||||||
| Tax, Assessment, Lien, License and Utility Charge Overpayments |
28.92 | 25,154.03 | 25,182.95 | 31,155.63 | |||||
| Appropriation Reserves | 1,987,159.02 | 384,517.55 | $152,195.78 |
2,523,872.35 | 2,171,512.14 | ||||
| Reserve for Encumbrances/ Accounts Payable |
$2,245,555.74 |
$310,610.74 |
620,715.00 | 754,744.12 | 184,773.58 | 4,116,399.18 | 1,921,555.58 | ||
| Amts. Pledged to Specific Purposes | 2,452,695.38 | 4,606,251.85 | 3,081,161.55 | 168,232.00 | $25,533.60 |
10,333,874.38 | 9,198,702.74 | ||
| Improvement Authorizations | 6,854,776.50 | 3,545,280.64 | 174,525.00 | 10,574,582.14 | 1,753,059.78 | ||||
| Interfund Loans | 2,074,121.09 | 80,212.24 | 512,516.76 | 2,666,850.09 | |||||
| Investments in Governmental Fixed Assets | $28,394,823.00 |
28,394,823.00 | 29,494,225.00 | ||||||
| Reserve for Amortization of Costs of Fixed Capital Acquired or Authorized |
3,058,543.80 | 175,000.00 | 3,233,543.80 | 3,128,543.80 | |||||
| Reserve for Certain Assets Acquired or Receivables & Inventories |
930,491.39 | 11,007.80 | 326,271.32 | 1,267,770.51 | 1,347,851.93 | ||||
| Fund Balance | 11,445,566.34 | 304,102.47 | 2,509,567.79 | 807,424.17 | 15,066,660.77 | 12,805,289.91 | |||
$21,565,344.00 |
$5,008,082.63 |
$34,589,371.79 |
$12,304,828.01 |
$1,493,918.53 |
$25,533.60 |
$28,394,823.00 |
$103,381,901.56 |
$100,499,751.82 |
|