18-10 Contract

TOWNSHIP OF WEST ORANGE COMMENTS AND RECOMMENDATIONS DECEMBER 31, 2008 CAPITAL FUND: Finding: Green Acres matching grant receivable on Ordinance #1992-04 of $103,270.02 has been carried for a number of years. Recommendation: This receivable should be reviewed in order to determine its collectibility. Finding: There is a receivable associated with the 2005 NJDEA loan. The loan is being amortized with interest, yet the receivable has not changed. Recommendation: The receivable of $2,447,091.00 should be reviewed to determine its collectibility. -35-