TOWNSHIP OF JACKSON
NOTES TO FINANCIAL STATEMENTS (continued):
FOR THE YEAR ENDED DECEMBER 31, 2014
| Year 2014 | Year 2013 | Year 2012 |
|---|
| Issued & Outstanding | | | |
|---|
| General: | | | |
|---|
| Bonds, Loans & Notes | $ 26,367,241 | $ 27,977,337 | $ 31,362,337 |
|---|
| Deductions: | | | |
|---|
| Open Space Trust (40A:2-44h) | 5,199,000 | 5,759,000 | 6,299,000 |
|---|
| Funds Temporarily Held to pay Bonds & Notes | 2,025,197 | 1,911,533 | 1,881,143 |
|---|
| Total Deductions | 7,224,197 | 7,670,533 | 8,180,143 |
|---|
| Net Debt Issued | 19,143,044 | 20,306,804 | 23,182,194 |
|---|
| Authorized But Not Issued | | | |
|---|
| General - Bonds & Notes | 2,080,152 | 1,891,241 | - |
|---|
| Total Net Debt | $ 21,223,196 | $ 22,198,045 | $ 23,182,194 |
|---|
The summarized statement of debt condition which follows is prepared in accordance with the required method of setting up the Annual Debt Statement and indicates a statutory net debt of 0.323%
| GROSS DEBT | DEDUCTIONS | NET DEBT |
|---|
| Local School District Debt | $ 87,236,973 | $ 87,236,973 | $- |
|---|
| General Debt | 28,447,393 | 7,224,197 | 21,223,196 |
|---|
| Total | $ 115,684,366 | $ 94,461,170 | $ 21,223,196 |
|---|
Net Debt, $21,223,196 divided by Equalized Valuation Basis per N.J.S.A.40A:2-2, as amended, $6,564,851,056 equals 0.323%.
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