A summary of interfund transfers is as follows:
| Fund | Transfers In | Transfers Out |
|---|---|---|
| Current Fund | $ 1,184,079.75 | $ 1,452,229.01 |
| State and Federal Grant Fund | 682,394.36 | 433,534.65 |
| Animal Control Trust | 15,061.67 | - |
| Trust Other Fund | 755,921.62 | 751,693.74 |
| $ 2,637,457.40 | $ 2,637,457.40 |
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them (i.e. interest earning), (2) provide cash flow to other funds to temporary finance expenditures that are on a reimbursable basis (i.e. grants), (3) when no bank account exists for a fund, and (4) utilizing surplus or fund balance from one fund as budgeted revenue in another.
The following is a summary of changes in the General Fixed Assets Account Group for the year ended December 31, 2017.
| Balance December 31, 2016 | Additions | Deletions | Balance December 31, 2017 | |
|---|---|---|---|---|
| Land | $ 56,970,100.00 | $ - | $ - | $ 56,970,100.00 |
| Buildings and Improvements | 49,423,563.00 | 375,342.00 | - | 49,798,905.00 |
| Machinery & Equipment | 14,820,103.00 | 1,339,391.00 | (843,254.00) | 15,316,240.00 |
| $ 121,213,766.00 | $ 1,714,733.00 | $ (843,254.00) | $ 122,085,245.00 |
Plan Description - The State of New Jersey, Public Employees' Retirement System (PERS) is a cost-sharing multiple-employer defined benefit pension plan administered by the State of New Jersey, Division of Pensions and Benefits (the Division). For additional information about PERS, please refer to Division's Comprehensive Annual Financial Report (CAFR) which can be found at http://www.nj.gov/treasury/pensions/financial-reports.shtml.
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