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 29 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 Local Bond Law governs the issuance of bonds and notes to finance general municipal capital expenditures. Bonds are retired in serial installments with the statutory period of usefulness. Bonds issued by the Township are general obligations bonds backed by the full faith and credit of the Township. Bond anticipation notes are issued to temporarily finance capital projects prior to the issuance of serial bonds. The terms of the notes cannot exceed one year but the notes may be renewed from time to time for a period not exceeding one year. All such notes must be paid no later than the tenth anniversary of the date of the original note. The State of New Jersey also prescribes that on or before the third anniversary date of the original note a payment of at least equal to the first legally payable installment of the bonds in anticipation of which such notes were issued be paid. A second legal installment must be paid if the notes are to be renewed beyond the fourth anniversary date of the original issuance and so on. Tax anticipation notes are issued if the cash on hand is not sufficient to carry on normal operations of the municipality at any time during the year. Such notes are authorized by a resolution adopted by the governing body.

As of December 31, 2012, the Township's Long-Term Debt is as follows:

$7,931,000 2003 Bonds due in annual installments of ranging from $600,000 to $931,000 through 2014 at interests ranging from 3.00% to 3.50% $1,831,000

$5,918,000 2003 Open Space Bonds due in annual installments of $400,000 to $500,000 through 2020 at interests rates ranging from 3.00% to 4.00%. 2,875,000

$16,102,000 2008 Bonds due in annual installments ranging from $100,000 to $2,132,000 through 2020 at interests rates ranging from 3.50% to 4.125%. 14,677,000

$3,739,000 2008 Open Space Bonds due in annual installments of $75,000 to $334,000 through 2028 at interest rates ranging from 3.50% to 4.75%. 3,424,000

8,010,000 2009 Refunding Bonds due in annual installments ranging from 760,000 to 1,905,000 through 2016 at interest rates ranging from 2.00% to 4.00%. 3,070,000

Total

$25.877.000

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