279-22 Copy of CF Operations for Synopsis.pdf

TOWNSHIP OF WEST ORANGE CURRENT FUND STATEMENTS OF OPERATIONS AND CHANGES IN FUND BALANCE REGULATORY BASIS YEARS ENDED DECEMBER 31, 2020 AND 2019279-22 2021 2020 REVENUE AND OTHER INCOME: Fund Balance Utilized $ 4,276,678.57 $ 2,402,754.05 Miscellaneous Anticipated Revenue 24,884,536.19 23,364,864.43 Receipts from Delinquent Taxes 3,781,718.68 2,692,213.56 Receipts from Current Taxes 239,409,022.46 236,121,420.83 Non-Budget Revenues 849,292.74 759,904.18 Other Credit to Income: Cancellation of Tax Title Lien Premiums Payable 297,548.37 Appropriation Reserves Lapsed 107,254.48 764,627.79 TOTAL REVENUE AND OTHER INCOME 273,308,503.12 266,403,333.21 EXPENDITURES: Budgeted and Emergency Appropriations 91,962,032.37 86,698,195.67 Reserve for Due from Lien Holders 198,395.38 28,629.73 Open Space Trust 278,603.52 278,950.33 Special Improvement District Assessment 98,272.87 90,120.23 Reserve for Special Emergency Debt 153,613.05 Local District School Tax 147,900,958.00 145,129,113.00 County Taxes 32,058,225.86 31,828,477.43 PILOT Payment - Due County 190,439.87 Interfunds Advanced 25,107.00 TOTAL EXPENDITURES 272,496,488.00 264,422,646.31 EXCESS OF REVENUE OVER EXPENDITURES 812,015.12 1,980,686.90 ADJUSTMENT TO INCOME BEFORE FUND BALANCE: Expenditures Included Above Which Are by Statute Deferred Charges to Budget of Succeeding Years: Emergency Authorization 900,000.00 Special Emergency 500,000.00 2,733,224.25 STATUTORY EXCESS TO FUND BALANCE 2,212,015.12 4,713,911.15 FUND BALANCE, BEGINNING OF YEAR 7,841,013.09 5,529,855.99 10,053,028.21 10,243,767.14 UTILIZED AS ANTICIPATED REVENUE 4,276,678.57 2,402,754.05 FUND BALANCE, END OF YEAR $ 5,776,349.64 $ 7,841,013.09