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A

Borough of Milford, N.J.

Page 2 of 2

Comparative Balance Sheet - Regulatory Basis

Current Fund

Liabilities, Reserves and Fund Balance

December 31,

Ref.

2012

2011

Current Fund:

Appropriation Reserves

A-3;A-11

151,135.37

112,298.82

Due to State of New Jersey:

Senior Citizen and Veteran Deductions

lnterfunds Payable:

A-9

5,643.20

4,643.19

General Capital Fund

A-10

17,124.11

Other Trust

A- l 0

159.66

Sewer Operating

A-10

352.37

Water Operating

A-10

40.00

Due to State of New Jersey:

Marriage Surcharge

A-12

50.00

50.00

Tax Overpayments

A-12

9,949.27

7,789.94

Reserve for:

Garden State Trust

A-12

7,921.00

7,921.00

Prepaid Taxes

A-14

11,420.26

14,542.92

County Taxes Payable

A-15

415.71

1,455.99

District School Taxes Payable

A-16

74,203.83

47,762.43

Regional School Taxes Payable

A-17

27,190.66

198,073.55

288,321.67

411,821.61

Reserve for Receivables

Contra

226,098.47

226,635.17

Fund Balance

A-1

709,569.08

711,178.61

1,223,989.22

1,349,635.39

Federal and State Grant Fund:

Intel-fund Payable - Current Fund

A-18

29,777.42

43,427.25

Appropriated. Reserve for Grants

A-20

4,157.00

1,250.00

Unappropriated Reserve for Grants

A-21

6,065.58

6,907.62

40,000.00

51,584.87

1,263,989.22

1,401,220.26

The accompanying "Notes to Financial Statements" are an integral part of these financial statements.

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