TOWNSHIP OF JACKSON
NOTES TO FINANCIAL STATEMENTS (continued):
FOR THE YEAR ENDED DECEMBER 31, 2012
Note 4. Deferred Charges to be Raised in Succeeding Budgets (continued):
| Balance December 31, 2012 | 2013 Budget Appropriation | Cancelled | Balance to Succeeding Budgets |
|---|
| Current Fund: | | | | |
| Special Emergency Authorizations | $ 1,921,104 | $ 385,026 | $ -0- | $ 1,536,078 |
The Township is governed by the deposit and investment limitations of New Jersey state law. The Deposits and investments held at December 31, 2012, and reported at fair value are as follows:
| Type | Carrying Value |
|---|
| Deposits: | |
|---|
| Demand Deposits | $27,370,767 |
|---|
| Total Deposits | $27,370,767 |
|---|
Reconciliation of Statement of Assets, Liabilities, Reserves and Fund Balance:
| Current | $ 9,575,446 |
|---|
| Dog Trust | 115,374 |
|---|
| Other Trust | 12,376,482 |
|---|
| General Capital | 5,121,576 |
|---|
| Public Assistance | 29,676 |
|---|
| Payroll | 152,213 |
|---|
Total Reconciliation of Statement of Assets, Liabilities, Reserves and Fund Balance $27,370,767
Custodial credit risk is the risk that, in the event of a bank failure, the District's deposits may not be returned. The Districts does not have a deposit policy for custodial credit risk. As of December 31, 2012, the District's bank balance of $27,928,483 was insured and collateralized as follows:
| Insured | $ 250,000 |
|---|
| Collateralized in the District's Name | |
|---|
| Under GUDPA (See Note 6) | 27,678,483 |
|---|
| Total | $27,928,483 |
|---|
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