Certain expenditures are required to be deferred to budgets of succeeding years. At December 31, 2014, the following deferred charges are shown on the balance sheets of the various funds:
| Balance 12/31/2014 | 2015 Budget Appropriation | Balance to Succeeding Budgets | |
|---|---|---|---|
| Current Fund: | |||
| Special Emergency Appropriations - 5 Years | $ 902,713 | $ 381,000 | $ 521,713 |
| Codification of Ordinances | 8,052 | 4,026 | 4,026 |
The following schedule is a summarization of the changes in General Fixed Assets for the fiscal year ended December 31, 2014:
| December 31, 2013 | Additions | Deletions | Transfers/ Adjustments | December 31, 2014 | |
|---|---|---|---|---|---|
| Fixed Assets not being depreciated: | |||||
| Land | $ 54,983,000 | $ - | $ - | $ (12,900) | $ 54,970,100 |
| Buildings & Improvements | 47,646,529 | - | - | (8,745) | 47,637,784 |
| Machinery & Equipment | 12,809,822 | 1,949,440 | (122,642) | 21,645 | 14,658,265 |
| Capital assets not being depreciated | $ 115,439,351 | $ 1,949,440 | $ (122,642) | $ - | $ 117,266,149 |
All additions are recorded at cost.
The Township of Jackson is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions and natural disasters. The Township is a member of the Ocean County Municipal Joint Insurance Fund (JIF). This public entity risk pool is both an insured and self-administered group of 31 municipalities established for the purpose of insuring against property damage, general liability, motor vehicles and equipment liability and workmen's compensation. The JIF will be self-sustaining through member premiums. The JIF participates in the Municipal Excess Liability Insurance Program.
The Township has evaluated subsequent events through , the date the financial statements were available to be issued.
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