2018 Annual Debt Statement.pdf

FILED 1/31/2019 State of New Jersey Department of Community Affairs Annual Debt Statement West Orange Township - 2018 Date Prepared: 1/31/2019 Budget Year Ending December 31 (Month D-D) 2018 (Year) Name: John Gross Phone: Title: Email: jgross@westorange.org Address: 66 Main Street West Orange, NJ 07052 US CFO Cert #: N-0451 John Gross, being duly sworn, deposes and says: Deponent is the Chief Financial Officer of West Orange Township - County of Essex here and in the statement hereinafter mentioned called the local unit. This Annual Debt Statement is a true statement of the debt condition of the local unit as of the date therein stated above and is computed as provided by the Local Bond Law of New Jersey. Gross Debt Deduction Net Debt Total Bonds and Notes for Local School Purposes $27,405,000.00 $27,405,000.00 $0.00 Total Bonds and Notes for Regional School Purposes $ $ $0.00 Total Bonds and Notes for all Utilities $ $ $0.00 Municipal/County General Obligations $79,895,285.85 $0.00 $79,895,285.85 Total $107,300,285.85 $27,405,000.00 $79,895,285.85 Equalized valuation basis (the average of the equalized valuations of real estate, including improvements and the assessed valuation of class II railroad property of the local unit for the last 3 preceding years). Year (1) 2016 Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR Property $6,043,723,568.00 (2) 2017 Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR Property $6,215,620,287.00 (3) 2018 Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR Property $6,364,242,854.00 Equalized Valuation Basis - Average of (1), (2) and (3)………………………………………… $6,207,862,236.33 Net Debt expressed as a percentage of such equalized valuation basis is: % 1.287%