SUMMARY OR SYNOPSIS OF AUDIT REPORT FOR PUBLICATION ‘Summary of Synopsis of the 2005 Audit Report of the Township of Ewing as required by N.J.S. 408°5-7. ‘Township of Ewing All Funds Combined Comparative Balance Sheet ASSETS Cash and investments ¥ Intergovernmental recelvabie Due from grants Taxes, assessments, liens and sewer charges receivable Property acquired for taxes Other assets Interfunds Deferred charges - current, Deferred charges - trust Deferred charges - capital General fixed assots TOTAL ASSETS 3 LIABILITIES, DEFERRED REVENUE RESERVES AND FUND BALANCE Bond, notes, and loans payable $s Other liabilities and special funds Interfunds Reserves for receivables Other reserves Investments in fixed assets. June 30, 2005 004 76,003,082 $ 7.465.214 2,706,387 591,260 2,122,353 1,783,190 530,749 655,682 965,600 965,600 1,376 1671 375,744 412,730 2,879,951 2,649,312 77,502 28,056,962 28,473,495 26,018,176 ___26.018.176 78,750,379 _§ 69,063,601 33,898,037 $ 28,264,571 2,765,345 1,652,563 378,744 412,730 6,464,635 1,911,500 6,792,840, 7,839,008 26,018,176 26,018,176 Fund balance 2,435,601 2,965,254 TOTAL LIABILITIES, DEFERRED REVENUES, RESERVES AND FUND BALANCE 576750379 _§ 69,063,801Township of Ewing ‘Current Fund Comparative Statement of Operations and Changes in Fund Belance Revenue and other income realized Fund balance utlized 8 Miscellaneous revenues State aid withaut offsetting appropriations Year Ended June 30, 2005 591,250 $ 7,819,008 16,615,241 ‘Special items with offsetting appropriations 1,984,794 Special items with consent of the director 2,701,272 Receipts from delinquent taxes 199,468, Amount to be raised by taxes for support of municipal budget 9,983,074 Other credits to income 62,554,988 Total Revenue 701,749,092 Expenditures: Budget Expenditures: ‘Appropriations within "CAPS" 18,999,337 Deferred charges and statutory expenditures - municipal within "CAPS" 2,896,210 Appropriations excluded from "CAPS" Operations 15,373,640 Capital improvements 327,725 Municipal debt service 3,513,753 Reserve for uncollected taxes 272,548 Deferred charges - excluded from "CAPS" 868,184 Other charges to Income 62,377,674 Total Expenditures 704,629,070 Excess/(Deficit) in revenue (2,879,978) Expenditures which are deferred charges to budget of succeeding year 2,879,951 Fund balance, beginning 2,928,438 ‘Sub-Total 2,928,414 Less: utiized as anticipated revenues 591,250) Fund balance, ending 2.337.161 _§ 2004 401,800 7,909,369 19,663,880 1,293,193, 3,647,006 1,834,170 10,201,237 57,409,051 96,359,805 19,107,179 1,373,512 14,201,304 502,500 3,298,115 215,789 400,000 56,875,400 (95,973,889) ‘385,917 2,638,546 305,775 3,330,238 (401,800) 2,928,438TOWNSHIP OF EWING GENERAL COMMENTS AND RECOMMENDATIONS YEAR ENDED JUNE 30, 2005, The following recommendations were made for 2005: + Budget should allocate sufficient fuunds for obligation to ELSA. - All grants need to be properly tracked - Enforce compliance with Technical Accounting Directive #85-2 “Accounting for Governmental Fixed Assets.” - __ Allptemiums in the Collector's Trust account should be properly tracked. + Grant receivable from Environmental Infrastructure Trust should be followed up for collection. ~ An individual who is independent from both the cash receipt and cash disbursement functions at the Municipal Court should prepare bank reconciliations. ~ Utilize computer software or manual records for dog license reports, - ‘The Construction Office should stamp all permits with authorized signatures and deposit all monies received within 48 hours as required. - The Police Department should maintain records for fingerprinting services, - _ Overexpenditures of appropriations should be avoided. - Alll entries made by the CFO should be reviewed by the business administrator. - The Clerk’s Office should create and maintain an organized filing system for all bids. - All approved minutes should be given to the CFO to sign where required and all resolution numbers should be indicated in the minutes.