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Borough of Milford, N.J.

Comparative Balance Sheet - Regulatory Basis

Current Fund

Liabilities, Reserves and Fund Balance

December 31,

Ref.

2013

2012

Current Fund:

Appropriation Reserves

A-3;A-11

134,103.93

151,135.37

Due to State of New Jersey:

Senior Citizen and Veteran Deductions

A-9

5,643.20

5,643.20

Interfunds Payable:

Sewer Operating

A-10

8,988.72

352.37

Water Operating

A-10

3,103.86

40.00

Due to State of New Jersey:

Marriage Surcharge

A-12

175.00

50.00

Tax Overpayments

A-12

13,994.73

9,949.27

Reserve for:

Garden State Trust

A-12

7,921.00

Prepaid Taxes

A-14

29,137.02

11,420.26

County Taxes Payable

A-15

701.00

415.71

District School Taxes Payable

A-16

89,101.89

74,203.83

Regional School Taxes Payable

A-17

31,615.60

27,190.66

316,564.95

288,321.67

Reserve for Receivables

Contra

252,719.26

226,098.47

Fund Balance

A-1

650,118.59

709,569.08

1,219,402.80

1,223,989.22

Federal and State Grant Fund:

Interfund Payable - Current Fund

A-18

33,713.55

29,777.42

Appropriated Reserve for Grants

A-20

1,250.00

4,157.00

Unappropriated Reserve for Grants

A-21

5,036.45

6,065.58

40,000.00

40,000.00

1,259,402.80

1,263,989.22

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

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