TOWNSHIP OF JACKSON
NOTES TO FINANCIAL STATEMENTS (continued):
FOR THE YEAR ENDED DECEMBER 31, 2013
The value of property acquired by liquidation of tax title liens on December 31, on the basis of the last assessed valuation of such properties, for the current and previous two years was as follows:
| YEAR | AMOUNT |
|---|
| 2013 | $ 6,318,700 |
| 2012 | $ 6,318,700 |
| 2011 | $ 6,318,700 |
The following schedule details the amount of fund balance available at the end of the current year and four previous years and the amounts utilized in the subsequent year's budgets.
YEAR BALANCE DECEMBER 31, UTILIZED IN BUDGET OF SUCCEEDING YEAR PERCENTAGE OF FUND BALANCE USED
CURRENT FUND:
2013 $ 2,873,067 * *
2012 2,549,911 1,900,000 74.51%
2011 2,350,087 1,900,000 80.85%
2010 2,770,286 2,400,000 86.63%
2009 3,990,487 3,800,000 95.23%
*2014 budget not introduced at date of audit
The composition of interfund balances as of December 31, 2013 is a follows:
| Fund | Receivable | Payable |
|---|
| Current Fund | $ 35,342 | $ 760,992 |
|---|
| Federal and State Grant Fund | 380,368 | - |
|---|
| Trust - Animal Control Fund | - | 26,314 |
|---|
| Trust - Other Fund | - | 9,028 |
|---|
| General Capital Fund | 380,624 | - |
|---|
| $ 796,334 | $ 796,334 |
|---|
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