DOCSLIB.ORG

City of Bayonne New Jersey Comprehensive Annual Financial Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
City of Bayonne New Jersey Comprehensive Annual Financial Report CITY OF BAYONNE STATE OF NEW JERSEY NEW JERSEY COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2015 CITY OF BAYONNE COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS DECEMBER 31, 2015 PAGE EXHIBIT TABLE SCHED. Introductory Section: Letter of Transmittal ……………………………………………………………… 1 - 15 Officials in Office ………………………………………………………………… 16 Financial Section: Independent Auditor's Report ………………………………………………………17 - 20 Management Discussion and Analysis …………………………………………… 21 - 28 Basic Financial Statements Combined Balance Sheet - Regulatory Basis - All Fund Types and Account Groups ………………………………………29 - 30 Statement of Revenues, Expenditures and Changes in Fund Balance - Regulatory Basis - All Fund Types and Account Groups ………………… 31 - 32 Statement of Revenues, Expenditures and Changes in Fund Balance - Regulatory Basis - Budget vs. Actual - All Fund Types and Account Groups ………………………………… 33 - 34 Notes to Financial Statements ………………………………………………………35 - 102 Supplementary Data Section: Current Fund Comparative Schedule of: Assets, Liabilities, Reserves and Fund Balance ………………………………103 - 104 A Operations and Changes in Fund Balance …………………………………… 105 - 106 A-1 Schedule of: Revenues and Other Credits to Income ……………………………………… 107 - 108 A-2 Revenues - Analysis of Budgeted Revenues ………………………………… 109 A-2a Revenues - Analysis of Non-Budget Revenues ……………………………… 110 A-2b Expenditures and Other Charges to Income ……………………………………111 - 120 A-3 Cash and Cash Equivalents …………………………………………………… 121 A-4 Taxes Receivable and Analysis of Property Tax Levy ………………………… 122 A-5 Tax Title Liens ………………………………………………………………… 123 A-6 Intergovernmental Receivables ……………………………………………… 123 A-7 Revenue Accounts Receivable ………………………………………………… 124 A-8 i CITY OF BAYONNE COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS DECEMBER 31, 2015 PAGE EXHIBIT TABLE SCHED. Supplementary Data Section (continued): Current Fund (continued) Schedule of: Other Accounts Receivable…………………………………………………… 125 A-9 Deferred Charges ……………………………………………………………… 125 A-10 Appropriation Reserves ……………………………………………………… 126 - 128 A-11 Local District School Tax Payable …………………………………………… 129 A-12 County Taxes Payable ………………………………………………………… 129 A-13 Special Improvement District Tax Payable …………………………………… 130 A-14 Contracts Payable ……………………………………………………………… 130 A-15 Prepaid Taxes ………………………………………………………………… 131 A-16 Tax Overpayments …………………………………………………………… 131 A-17 Tax Anticipation Notes Payable ……………………………………………… 132 A-18 Due to State of New Jersey - For Senior Citizens' and Veterans' Deductions … 133 A-19 Reserve for Urban Enterprise Zone Funds …………………………………… 134 A-20 Reserves for Other …………………………………………………………… 135 - 136 A-21 Federal and State Grants Fund Schedule of: Federal and State Grants Receivable ………………………………………… 137 - 138 A-22 Reserve for Federal and State Grants - Appropriated …………………………139 - 141 A-23 Unappropriated Grant Funds ………………………………………………… 142 A-24 Trust Fund Schedule of: Assets, Liabilities and Reserves - All Trust Funds …………………………… 143 B Cash and Cash Equivalents - All Trust Funds ………………………………… 144 B-1 Animal Control Trust Fund Schedule of: Due to State of New Jersey - Dog License Fees ……………………………… 145 B-2 Reserve for Animal Control Expenditures …………………………………… 145 B-3 Due to Current ……………………………………………………………… 146 B-4 ii CITY OF BAYONNE COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS DECEMBER 31, 2015 PAGE EXHIBIT TABLE SCHED. Supplementary Data Section (continued): Trust Fund (continued) Insurance Trust Fund Schedule of Reserve for Insurance Expenditures ………………………………… 147 B-5 Insurance Trust Fund Schedule of Due to Current ………………………………………………………… 148 B-6 Tax Lien Redemption Trust Fund Schedule of Reserve for Tax Lien Redemption Expenditures …………………… 149 B-7 Tax Lien Redemption Trust Fund Schedule of Due to Current ………………………………………………………… 149 B-8 Housing and Urban Development Grant Fund Schedule of: CDBG Grants Receivable ……………………………………………………… 150 B-9 Interfunds Payable …………………………………………………………… 151 B-10 Reserve for CDBG Grant Expenditures ……………………………………… 151 B-11 Other Trust Schedule of: Due to Current Fund …………………………………………………………… 152 B-12 Accounts Payable ……………………………………………………………… 153 B-13 Due to State of New Jersey …………………………………………………… 153 B-14 Miscellaneous Reserves ……………………………………………………… 154 - 155 B-15 General Capital Fund Schedule of: Assets, Liabilities, Reserves and Fund Balance ……………………………… 156 C Fund Balance ………………………………………………………………… 157 C-1 Analysis of Cash and Investments …………………………………………………158 - 159 C-2 Analysis of Cash and Cash Equivalents Ending Balance …………………………160 - 161 C-2a Schedule of: Deferred Charges to Future Taxation - Funded ……………………………… 162 C-3 Deferred Charges to Future Taxation - Unfunded …………………………… 163 C-4 Grants Receivable ……………………………………………………………… 164 C-5 General Serial Bonds Payable …………………………………………………165 - 168 C-6 Fiscal Year Adjustment Bonds Payable ……………………………………… 169 C-7 iii CITY OF BAYONNE COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS DECEMBER 31, 2015 PAGE EXHIBIT TABLE SCHED. Supplementary Data Section (continued): General Capital Fund (continued) Schedule of: School Serial Bonds Payable ………………………………………………… 170 - 172 C-8 Green Trust Loans Payable ……………………………………………………173 - 174 C-9 Demolition Loan Payable ……………………………………………………… 175 C-10 General Bond Anticipation Notes Payable …………………………………… 176 C-11 School Promissory Notes Payable …………………………………………… 177 C-12 Improvement Authorizations ………………………………………………… 178 C-13 Capital Improvement Fund …………………………………………………… 179 C-14 Reserve for Retirement of Debt ……………………………………………… 180 C-15 Contracts Payable ……………………………………………………………… 180 C-16 Interfunds Receivable/(Payable) ……………………………………………… 181 C-17 Bonds and Notes Authorized but not Issued ………………………………… 182 C-18 Reserve for Veteran's Stadium Improvements………………………………… 183 C-19 Reserve for Debt Service - BLRA……………………………………………… 183 C-20 Parking Utility Fund Schedule of: Assets, Liabilities, Reserves and Fund Balance - Operating and Capital Funds184 - 185 D Operations and Changes in Fund Balance - Operating………………………… 186 D-1 Fund Balance - Capital ………………………………………………………… 187 D-2 Revenues - Operating ………………………………………………………… 188 D-3 Expenditures - Operating………………………………………………………189 - 190 D-4 Cash and Cash Equivalents - Operating and Capital ………………………… 191 D-5 Analysis of Parking Utility Capital Cash and Cash Equivalents ………………… 192 D-6 Schedule of: Appropriation Reserves………………………………………………………… 193 D-7 Accrued Interest - Operating…………………………………………………… 194 D-8 Interfunds Payable - Operating………………………………………………… 195 D-9 Fixed Capital - Capital………………………………………………………… 196 D-10 iv CITY OF BAYONNE COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS DECEMBER 31, 2015 PAGE EXHIBIT TABLE SCHED. Supplementary Data Section (continued): Parking Utility Fund (continued) Fixed Capital Authorized and Uncompleted - Capital………………………… 197 D-11 Improvement Authorizations - Capital………………………………………… 198 D-12 Reserve for Amortization - Capital…………………………………………… 199 D-13 Deferred Reserve for Amortization - Capital………………………………… 200 D-14 Parking Revenue Serial Bonds Payable - Capital……………………………… 201 D-15 General Fixed Assets Schedule of: General Fixed Assets ……………………………………………………… 202 E Changes in General Fixed Assets by Class ………………………………… 203 E-1 Payroll Agency Schedule of Assets and Liabilities ……………………………………………… 204 F Additional Information Relating to Internal Control and Compliance: Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ……………………………………………205 - 207 Independent Auditor's Report on Compliance For Each Major Program and on Internal Control Over Compliance Required by Uniform Guidance …………………………………………………………208 - 211 Schedule of Expenditures of Federal Awards …………………………………212 - 214 ……………………… 1 Schedule of Expenditures of State Financial Assistance ………………………215 - 217 ……………………… 2 Schedule of Expenditures of Other Financial Assistance ………………………218 - 219……………………… 3 Notes to Schedules of Expenditures of Federal Awards and State Financial Assistance ……………………………220 - 221 Schedule of Findings and Questioned Costs Section I - Summary of Auditor's Results …………………………………222 - 223 Section II - Schedule of Financial Statement Findings ……………………224 - 226 Section III - Schedule of Federal Awards and State Financial Assistance - Findings and Questioned Costs …………………………………………227 - 233 Status of Prior Year Findings ………………………………………………234 - 237 v CITY OF BAYONNE COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS DECEMBER 31, 2015 PAGE EXHIBIT TABLE SCHED. Statistical Section: Unaudited Ten-Year History of Governmental Expenditures …………………………… 238 ………… 1 Ten-Year History of Governmental Realized Revenues ……………………… 239 ………… 2 Comparative Schedule of Operations and Changes in Fund Balance - Current Fund ……………………………………………………………… 240 ………… 3 Ten-Year History of Tax Rate and Apportionment of Levies ………………… 241 ………… 4 Ten-Year History of Delinquent Taxes and Tax Title Liens ………………… 241 ………… 5 Ten-Year History of Tax Levies and Collections ……………………………… 242 ………… 6 Ten-Year History of Property Acquired by Tax Title Lien Liquidation ……… 242 ………… 7 Ten-Year History of Percentage of Net Assessed Valuation to Estimated Full Cash Valuation ……………… 243 ………… 8 Ten-Year History of Ratio of Annual Debt Service to Operating Expenditures and Revenues ………… 244 ………… 9 Computation of Legal Debt Margin and Overlapping Debt As of December 31,
Load more

Recommended publications
  • Regular Meeting of the Municipal Council of The
    REGULAR MEETING OF THE MUNICIPAL COUNCIL OF THE CITY OF BAYONNE, IN THE COUNTY OF HUDSON, NEW JERSEY, HELD IN THE COUNCIL CHAMBER, MUNICIPAL BUILDING, 630 AVENUE C, ON WEDNESDAY, MARCH 16, 2016 The Council met at 7:05 P.M. The Council President Nadrowski announced: “I would like to advise all those present that notice of this regular meeting of the Municipal Council of the City of Bayonne of March 16, 2016 has been provided to the public in accordance with the provisions of the Open Public Meetings Act of the State of New Jersey. Notice of time and place of the meeting has been included in the annual notice of meetings, which was posted and filed with the City Clerk, and with the Jersey Journal and the Star Ledger. An additional notice of time and place was posted and filed with the City Clerk and was forwarded to the Jersey Journal and the Star Ledger by on March 11, 2016.” The Regular Meeting of the Municipal Council of the City of Bayonne is now in session. The Clerk called the roll. Present were: Council Members Cotter, Gullace, LaPelusa Perez and President Nadrowski. The Council President led the Pledge of Allegiance. * * * * * * * * * * 01. The clerk announced: AN ORDINANCE ENTITLED, “ORDINANCE OF THE CITY OF BAYONNE, COUNTY OF HUDSON, NEW JERSEY ADOPTING A REDEVELOPMENT PLAN FOR PROPERTY IDENTIFIED AS BLOCK 330, LOTS 6-12 (17 W. 5TH STREET; 15 W. 5TH STREET; 11 W. 5TH STREET; 9 W. 5TH STREET; 155-157 BROADWAY; 159 BROADWAY; AND 161 BROADWAY) ON THE TAX MAP OF THE CITY OF BAYONNE,” which was introduced and passed a first reading at a meeting held February 17, 2016, was published in the Jersey Journal and posted on the bulletin board as required by law, with notice that it would be further considered for final passage following a public hearing at this meeting of March 16, 2016, and was referred to the planning board for its review is now before the Council for its consideration and a public hearing.
    [Show full text]
  • 100 Broadway for Publication City Or Town __ Bavonne D Vicinity State New Jersey Code NJ County Hudson Code 017 Zip Code 07002
    NFS Form 10-900 0MB No. 10024-0018 (Oct. 1990) United States Department of the Interior National Park Service WftY - 6 1996 National Register of Historic Places >LACES Registration Form This form is for use in nominating or requesting determinations for individual properties and districts. See instructions in How to Complete the National Register of Historic Places Registration Form (National Register Bulletin 16A). Complete each item by marking "x" in the appropriate box or by entering the information requested. If an item does not apply to the property being documented, enter "N/A" for "not applicable." For functions, architectural classification, materials, and areas of significance, enter only categories and subcategories from the instructions. Place additional entries and narrative items on continuation sheets (NPS Form 10-900a). Use a typewriter, word processor, or computer, to complete all items. 1. Name of Property____________________________________________________ historic name Hale-Whitney Mansion other names/site number N/A 2. Location street & number 100 Broadway for publication city or town __ Bavonne D vicinity state New Jersey code NJ county Hudson code 017 zip code 07002 3. State/Federal Agency Certification As the designated authority under the National Historic Preservation Act, as amended, I hereby certify that this 0 nomination D request for determination of eligibility meets the documentation standards for registering properties in the National Register of Historic Places and meets-the procedural and professional requirements set forth in 36 CFR Part 60. In my opinion, the property Of meets D does not meet the National Register criteria. I recommend that this property be considered significant D nationally j^] statewide Ixhq^ajljif (D See continuation sheet for additional comments.) (James F.
    [Show full text]
  • Bayonne Old and New
    • GLADYS MELLOR SINCLAIR BAYONNE OLD AND NEW THE CITY OF DIVERSIFIED INDUSTRY * * * By GLADYS MELLOR SINCLAIR "I li/1,· lo ur 11 111a11 proud of lhc plt,a i11 'it. 1hid1 ht• li•ves, "I /ir.r lo .rer a 111011 /hie sa w,•/1 t/1111 his place 1,•i/1 be proud nf him." .-\111<.\IIAM Lr,:cnL~ * * * MARANATHA PUBLISHERS 150 Fifth Ave. - New York City FIIIHT ElllTIUN, MAY 1940 Printecl ancl bouncl in the Unltecl States of America b11•Theo. Gaus' Sons, Inc., New York 01111. To M':>' Bc/o7,•cd Fat/rcr Whose Co11s/a11t a11d 011t­ sta11di11g Civic Pride Has Always Been An fospira­ tio11, a11d For Jlis S)•111pathctic Help fo [Vriti11!} This His/or::,• of BAYONNE 01.n AND :N'Ew, This Bonh ls Affcctio11atcl)' Dcdica.fed. GLADYS MELLOR SINCLAIR CONTENTS PAGE INTRODUCTION, by Mayor James J. Do11ova11...................... xi AUTHOR'S PREFACE • • • • • • • • • • • • • • • • • • • . • • • • • • . • • . • . • • • . • • . • • • xiii CHAPTER I. BAYONNE'S EARLY SETTLERS • • • • • • • • • • . • • • • • • • • • • • • • . • • • • • • • • • • 15 CHAPTER II. BAYONNE lN THE COLONIAL DAYS , •• , , , . , , . , . , , . , •. , , , , , •. , , , , , 21 CHAPTER III. BAYONNE lN THE WAR OF 1812 • , , , • , , , , , , , • , , , , , , , . , , , , , , . , , , , 25 Excellent' Fish and Oyster Enterprise-Natives Live Quietly: The Irish Come To Town. CIHAPTER IV. CAPTAIN ROBERT FlSH 31 Pre-Civil War Days and the La Tourette Hotel, Prominent Families. CHAPTER V, BAYONNE DURING THE CIVlL WAR • .. .. .. .. • .. .. .. .. .. .. • .. • .. 37 CHAPTER VI. BAYONNE IN THE RECONSTRUCTlON DAYS
    [Show full text]
  • . , Roosevelt & Cross, Inc. and Associates
    NEW ISSUE – BOOK-ENTRY ONLY RATING: See “RATINGS” herein In the opinion of McManimon, Scotland & Baumann, LLC, Bond Counsel to the City (as defined herein), pursuant to Section 103(a) of the Internal Revenue Code of 1986, as amended (the “Code”), interest on the Tax-Exempt Bonds (as defined herein) is not included in gross income for federal income tax purposes and is not an item of tax preference for purposes of calculating the alternative minimum tax imposed on individuals and corporations. It is also the opinion of Bond Counsel, that interest on the Tax-Exempt Bonds held by corporate taxpayers is included in “adjusted current earnings” in calculating alternative minimum taxable income for purposes of the federal alternative minimum tax imposed on corporations. In addition, in the opinion of Bond Counsel, interest on and any gain from the sale of the Bonds (as defined herein) is not includable as gross income under the New Jersey Gross Income Tax Act. Bond Counsel’s opinions described herein are given in reliance on representations, certifications of fact, and statements of reasonable expectation made by the City in its Tax Certificate (as defined herein), assume continuing compliance by the City with certain covenants set forth in its Tax Certificate, and are based on existing statutes, regulations, administrative pronouncements and judicial decisions. See “TAX MATTERS” herein. CITY OF BAYONNE IN THE COUNTY OF HUDSON, NEW JERSEY $6,322,000 SPECIAL ASSESSMENT BONDS, SERIES 2014A (CALLABLE) $6,121,000 SCHOOL BONDS, SERIES 2014B (SCHOOL BOND RESERVE ACT, P.L. 1980, C.72, AS AMENDED) (CALLABLE) $1,027,000 SCHOOL BONDS, SERIES 2014C (FEDERALLY TAXABLE) (SCHOOL BOND RESERVE ACT, P.L.
    [Show full text]
  • Port of Call Or Port of Conflict: the Evolution of the Port of New York
    New Jersey Institute of Technology Digital Commons @ NJIT Dissertations Electronic Theses and Dissertations Spring 5-31-2012 Port of call or port of conflict: the ve olution of the port of New York and New Jersey, port-city relationships, and the potential for land use conflicts on the Newark bay waterfront Colette Santasieri New Jersey Institute of Technology Follow this and additional works at: https://digitalcommons.njit.edu/dissertations Part of the Urban, Community and Regional Planning Commons Recommended Citation Santasieri, Colette, "Port of call or port of conflict: the evolution of the port of New York and New Jersey, port-city relationships, and the potential for land use conflicts on the Newark bay waterfront" (2012). Dissertations. 307. https://digitalcommons.njit.edu/dissertations/307 This Dissertation is brought to you for free and open access by the Electronic Theses and Dissertations at Digital Commons @ NJIT. It has been accepted for inclusion in Dissertations by an authorized administrator of Digital Commons @ NJIT. For more information, please contact [email protected]. Copyright Warning & Restrictions The copyright law of the United States (Title 17, United States Code) governs the making of photocopies or other reproductions of copyrighted material. Under certain conditions specified in the law, libraries and archives are authorized to furnish a photocopy or other reproduction. One of these specified conditions is that the photocopy or reproduction is not to be “used for any purpose other than private study, scholarship, or research.” If a, user makes a request for, or later uses, a photocopy or reproduction for purposes in excess of “fair use” that user may be liable for copyright infringement, This institution reserves the right to refuse to accept a copying order if, in its judgment, fulfillment of the order would involve violation of copyright law.
    [Show full text]