BOROUGH OF SOMERVILLE
SOMERSET COUNTY, NEW JERSEY
COMBINED BALANCE SHEET - ALL FUNDS
AS OF DECEMBER 31, 2022
| ASSETS | CURRENT FUND |
TRUST FUND |
GENERAL CAPITAL FUND |
SEWER UTILITY FUND |
PARKING UTILITY FUND |
PUBLIC ASSISTANCE FUND |
GOVERNMENTAL FIXED ASSETS |
MEMORANDUM TOTAL ONLY | |
|---|---|---|---|---|---|---|---|---|---|
| DEC. 31,2022 | DEC. 31,2021 | ||||||||
| Cash and Investments | $17,224,606.44 |
$6,726,251.01 |
$9,331,225.79 |
$4,079,360.93 |
$1,375,341.23 |
$38,736,785.40 |
$30,848,883.66 |
||
| Due from State of NJ - SC/Vet Deductions | 42,848.51 |
42,848.51 |
41,848.51 |
||||||
| Accounts Receivable: | |||||||||
| State & Federal Grants Receivable | 52,646.89 |
4,064,100.03 |
4,116,746.92 |
5,222,077.27 |
|||||
| Taxes, Assessments, Liens & Utility Charges |
852,978.66 |
1,078.05 |
159,721.15 |
1,013,777.86 |
1,203,793.65 |
||||
| Interfund Loans | 22,430.18 |
240,839.91 |
22,875.06 |
524,095.80 |
$25,533.60 |
835,774.55 |
2,666,850.09 |
||
| Other Accounts Receivable | 13,325.52 |
3,303.34 |
16,628.86 |
11,106.58 |
|||||
| Property Acquired for Taxes at Assessed Valuation |
28,500.00 |
28,500.00 |
28,500.00 |
||||||
| Fixed Assets - General | $28,070,327.00 |
28,070,327.00 |
28,394,823.00 |
||||||
| 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 |
|||||||
| General Capital Fund | 29,840,322.87 |
29,840,322.87 |
25,359,975.00 |
||||||
$18,184,689.31 |
$7,020,815.86 |
$43,261,827.09 |
$12,842,221.68 |
$1,550,341.23 |
$25,533.60 |
$28,070,327.00 |
$110,955,755.77 |
$103,381,901.56 |
|
| LIABILITIES, RESERVES AND FUND BALANCE |
CURRENT FUND |
TRUST FUND |
GENERAL CAPITAL FUND |
SEWER UTILITY FUND |
PARKING UTILITY FUND |
PUBLIC ASSISTANCE FUND |
GOVERNMENTAL FIXED ASSETS |
MEMORANDUM TOTAL ONLY | |
| DEC. 31,2022 | DEC. 31,2021 | ||||||||
| Bonds and Notes Payable | $16,075,000.00 |
$960,000.00 |
$17,035,000.00 |
$14,150,000.00 |
|||||
| Loans Payable | 10,275,630.34 |
10,275,630.34 |
10,598,616.27 |
||||||
| Prepaid Taxes, Assessments, Utility Charges and Licenses |
$253,188.05 |
253,188.05 |
429,726.12 |
||||||
| Tax, Assessment, Lien, License and Utility Charge Overpayments |
90,640.91 |
12,006.99 |
102,647.90 |
25,182.95 |
|||||
| Appropriation Reserves | 1,517,265.66 |
854,189.70 |
$252,969.06 |
2,624,424.42 |
2,523,872.35 |
||||
| Reserve for Encumbrances/ Accounts Payable |
1,722,483.09 |
$307,081.60 |
1,445,877.51 |
297,258.51 |
98,393.56 |
3,871,094.27 |
4,116,399.18 |
||
| Amts. Pledged to Specific Purposes | 6,614,267.62 |
3,242,250.71 |
268,232.00 |
$25,533.60 |
10,150,283.93 |
10,333,874.38 |
|||
| Improvement Authorizations | 11,892,752.96 |
3,715,219.84 |
25,145.72 |
15,633,118.52 |
10,574,582.14 |
||||
| Interfund Loans | 238,418.95 |
84,838.84 |
512,516.76 |
835,774.55 |
2,666,850.09 |
||||
| Investments in Governmental Fixed Assets | $28,070,327.00 |
28,070,327.00 |
28,394,823.00 |
||||||
| Reserve for Amortization of Costs of Fixed Capital Acquired or Authorized |
3,118,543.80 |
175,000.00 |
3,293,543.80 |
3,233,543.80 |
|||||
| Reserve for Certain Assets Acquired or Receivables & Inventories |
917,234.36 |
14,627.80 |
159,721.15 |
50,000.00 |
1,141,583.31 |
1,267,770.51 |
|||
| Fund Balance | 13,445,458.29 |
330,315.57 |
2,944,532.93 |
948,832.89 |
17,669,139.68 |
15,066,660.77 |
|||
$18,184,689.31 |
$7,020,815.86 |
$43,261,827.09 |
$12,842,221.68 |
$1,550,341.23 |
$25,533.60 |
$28,070,327.00 |
$110,955,755.77 |
$103,381,901.56 |
|