AUDIT - 2017
BOROUGH OF MILFORD
SUMMARY OR SYNOPSIS OF AUDIT REPORT FOR PUBLICATION
Attention is directed to the fact that a summary or synopsis of the audit report, together with the
recommendations, is the minimum required to be published pursuant to N.J.S. 40A : 5 - 7.
Summary or Synopsis of the 2017 Audit Report of the Borough of Milford,
as required by N.J.S. 40A : 5 - 7.
December 31 December 31
ASSETS
Year 2017
Year 2016
Cash, Investments and Prepaid Debt Service Taxes, Assessments, Liens and Utility Charges Receivable Accounts Receivable ( and Inventory )
4,473,326.40
4,227,131.25
319,510.90 97,794.50 5,194,984.00 5,922,500.00 6,511,625.41
417,323.73 197,169.85 5,457,415.80 6,872,500.00 5,909,101.71
General Fixed Assets
Fixed Capital Authorized and Uncompleted - Utility
Fixed Capital - Utility
Deferred Charges to Future Taxation - General Capital
643,021.05
704,021.05
TOTAL ASSETS
23,162,762.26 23,784,663.39
LIABILITIES, RESERVES AND FUND BALANCES
Bond and Notes Payable Improvement Authorizations
6,205,408.19 1,011,848.18 1,869,395.89 5,194,984.00 6,777,717.22 347,082.59 1,756,326.19
6,451,120.51 1,435,023.74 3,722,578.63 5,457,415.80 4,590,885.75 417,323.73 1,710,315.23
Other Liabilities and Special Funds Investment in General Fixed Assets Amortization of Debt for Fixed Capital Acquired or Authorized Reserve for Certain Assets Receivable
Fund Balance
TOTAL LIABILITIES, RESERVES AND SURPLUS
23,162,762.26 23,784,663.39
Made with FlippingBook - professional solution for displaying marketing and sales documents online