{ "document_id": 11943, "page": 45, "width_pt": 612, "height_pt": 792, "rotation": 0, "pipeline_version": "paddleocr-vl-1.6+paul-48", "engine": "paddleocr_vl", "source_run_id": 12054, "item_count": 12, "counts_by_type": { "footer": 1, "heading": 2, "text": 8, "title": 1 }, "build_ms": 2, "items": [ { "id": "p45.1", "order": 1, "type": "title", "bbox": { "l": 174.48, "t": 755.76, "r": 437.04, "b": 703.44 }, "text": "TOWNSHIP OF JACKSON\nNOTES TO FINANCIAL STATEMENTS (continued):\nFOR THE YEAR ENDED DECEMBER 31, 2014", "attrs": { "block_label": "doc_title" }, "level": 2 }, { "id": "p45.2", "order": 2, "type": "heading", "bbox": { "l": 69.12, "t": 691.68, "r": 378.72, "b": 678.96 }, "text": "Note 1. Summary of Significant Accounting Policies (continued):", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p45.3", "order": 3, "type": "text", "bbox": { "l": 68.4, "t": 665.76, "r": 542.16, "b": 562.8 }, "text": "Expenditures – are recorded on the “budgetary” basis of accounting. Generally, expenditures are recorded when an amount is encumbered through the issuance of a numerically controlled purchase order or when a contract is executed as required by Technical Accounting Directive No. 85-1. When an expenditure is paid, the amount encumbered is simultaneously liquidated in its original amount. Encumbrances are offset by an account entitled to reserve for encumbrances. The reserve is classified as a cash liability under New Jersey municipal accounting. At December 31, this reserve represents the portion of appropriation reserves that has been encumbered and is subject to the same statutory provisions as appropriation reserves." }, { "id": "p45.4", "order": 4, "type": "text", "bbox": { "l": 68.64, "t": 551.52, "r": 541.92, "b": 525.6 }, "text": "Appropriations for principal and interest payments on outstanding general capital bonds and notes are provided on the cash basis." }, { "id": "p45.5", "order": 5, "type": "text", "bbox": { "l": 68.64, "t": 512.64, "r": 542.4, "b": 447.84 }, "text": "Appropriation Reserves – Appropriation reserves covering unexpended appropriation balances are automatically created at year-end and recorded as liabilities, except for amounts, which may be cancelled by the governing body. Appropriation reserves are available, until lapsed at the close of the succeeding year, to meet specific claims, commitments or contracts incurred during the preceding fiscal year. Lapsed appropriation reserves are recorded as income." }, { "id": "p45.6", "order": 6, "type": "text", "bbox": { "l": 68.16, "t": 436.32, "r": 542.16, "b": 371.04 }, "text": "Long-Term Debt - Long-Term Debt relative to the acquisition of capital assets, is recorded as a liability in the General Capital Fund. Where an improvement is a “local improvement”, i.e. assessable upon completion, long-term debt associated with that portion of the cost of the improvement to be funded by assessments is transferred to the Trust Fund upon the confirmation of the assessments or when the improvement is fully and permanently funded." }, { "id": "p45.7", "order": 7, "type": "text", "bbox": { "l": 68.64, "t": 359.76, "r": 542.88, "b": 307.68 }, "text": "Compensated Absences and Post-employment Benefits – Compensated absences for vacation, sick leave and other compensated absences are recorded and provided for in the annual budget in the year in which they are paid, on a pay-as-you-go basis. Likewise, no accrual is made for post-employment benefits, if any, which are also funded on a pay-as-you-go basis." }, { "id": "p45.8", "order": 8, "type": "text", "bbox": { "l": 68.64, "t": 295.92, "r": 543.12, "b": 256.8 }, "text": "Subsequent Events - The Township of Jackson has evaluated subsequent events occurring after December 31, 2014 through the date of April 7, 2015, which is the date the financial statements were available to be issued." }, { "id": "p45.9", "order": 9, "type": "heading", "bbox": { "l": 68.88, "t": 244.8, "r": 293.76, "b": 231.12 }, "text": "Length of Service Award Program (“LOSAP”)", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p45.10", "order": 10, "type": "text", "bbox": { "l": 68.64, "t": 219.36, "r": 542.16, "b": 167.04 }, "text": "The Township has established a Volunteer Length of Service Award Plan (“LOSAP”) (“Plan”) to ensure retention of the Township’s volunteer First Aid Squad members. The Plan shall be construed under the laws of the State of New Jersey and is established with the intent that it meets the requirements of a “Length of Service Award Plan under Section 457(e)11 of the Internal Revenue Code”." }, { "id": "p45.11", "order": 11, "type": "text", "bbox": { "l": 68.64, "t": 156, "r": 542.16, "b": 104.4 }, "text": "LOSAP Trust Fund have not been audited, and we were not required by the Division of Local Government Services, Department of Community Affairs, State of New Jersey, to audit nor were we engaged to audit the LOSAP Trust Fund financial statements as part of our audit of the Township's financial statements." }, { "id": "p45.12", "order": 12, "type": "footer", "bbox": { "l": 300, "t": 14.4, "r": 312.24, "b": 4.08 }, "text": "37", "attrs": { "block_label": "number" } } ], "excluded_furniture": { "first": [], "last": [] } }