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, 20122013 Budget AppropriationCancelledBalance to Succeeding Budgets
Current Fund:
Special Emergency Authorizations$ 1,921,104$ 385,026$ -0-$ 1,536,078

Note 5. Cash, Cash Equivalents & Investments

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:

TypeCarrying 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 Trust115,374
Other Trust12,376,482
General Capital5,121,576
Public Assistance29,676
Payroll152,213

Total Reconciliation of Statement of Assets, Liabilities, Reserves and Fund Balance $27,370,767

Custodial Credit Risk

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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