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Borough of Milford, N.J.

Comparative Balance Sheet - Regulatory Basis

Current Fund

December 31,

Liabilities, Reserves and Fund Balance

Ref.

2015

2014

Current Fund:

Appropriation Reserves

A-3;A-11

111,108.07

103,443.86

Due to State of New Jersey:

Senior Citizen and Veteran Deductions

A-9

5,869.23

5,393.20

Interfunds Payable:

General Capital Fund

A-10

66,741.20

97,967.61

Other Trust

A-10

34,876.08

Sewer Operating

A-10

6,706.80

3,620.90

Water Operating

A-10

4,515.27

2,787.51

Due to State of New Jersey:

Marriage Surcharge

A-12

100.00

25.00

Tax Overpayments

A-12

10,791.30

14,015.32

Prepaid Taxes

A-14

24,228.70

28,048.52

County Taxes Payable

A-15

47.41

49.10

District School Taxes Payable

A-16

65,343.30

Regional School Taxes Payable

A-17

129,222.70

129,525.70

459,550.06

384,876.72

Reserve for Receivables

Contra

237,729.03

276,565.26

Fund Balance

A-1

790,933.31

677,337.76

1,488,212.40

1,338,779.74

Federal and State Grant Fund:

Interfund Payable - Current Fund

A-18

32,250.00

33,072.82

Appropriated Reserve for Grants

A-20

1,250.00

1,250.00

Unappropriated Reserve for Grants

A-21

6,500.00

5,677.18

40,000.00

40,000.00

1,528,212.40

1,378,779.74

6

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