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HomeMy Public PortalAboutCAPA Adopted 2018 BudgetAuthor l Budget oft State Fiii, Year For the Period: Carteret Port Authority 2018 January 1, 2018 to December 31, 2018 www.ci.carteret.n j.us Authority Web Address Co munity ffairs Division of Local Government Services Carteret Municipal Port Authority Borough of Carteret County of Middlesex, New Jersey Late udget esolution — CY 2018 WHEREAS, the Carteret Municipal Port Authority has approved the 2018 Authority Budget on December 19, 2017, and WHEREAS, the Carteret Municipal Port Authority budget was not submitted to the Division of Local Government Services, Department of Community Affairs within the statutory timetable, and WHEREAS, the Carteret Municipal Port Authority encountered a delayed in the budget schedule and process with the timing of scheduled Board meetings, and WHEREAS, The Carteret Port Authority pursuant to N.J.A.C.5:31-2.5(a) and (b) desires to adopt this resolution. NOW, THEREFORE BE IT RESOLVED, that the Commissioners of the Carteret Port Authority hereby approve this resolution pursuant to N.J.S.A. 5:31-2.5(a) and (b), and BE IT FURTHER RESOLVED, that the Clerk to the Board is hereby directed to submit a copy of this adopted resolution to the Director of Local Government Services for approval as part of the Authority's 2018 budget. Adopted this 19th day of December, 2017. Carknela Pogor'ze Secretary Commissioners: b`o r S =1-.uiu© GAL -1 GOV" vJfFf Rs (1114 l&L Aye Nay Abstain Absent V V 17 2018 AUT ITY U GE Certification Section 2018 CARTERET PORT AUTHORITY (Name) AUTHORITY BUDGET FISCAL YEAR: FROM JAN. 1, 2018 TO DEC. 31, 2018 For Division Use Only CERTIFICATION OF APPROVED BUDGET It is hereby certified that the approved Budget made a part hereof complies with the requirements of law and the rules and regulations of the Local Finance Board, and approval is given pursuant to N.J.S.A. 40A: 5A-11. State of New Jersey Department of Community Affairs Director of the Division of Local Government Services ( (2 CERTIFICATION OF ADOPTED BUDGET It is hereby certified that the adopted Budget made a part hereof has been compared with the approved Budget previously certified by the Division, and any amendments made thereto. This adopted Budget is certified with respect to such amendments and comparisons only. State of New Jersey Department of Community Affairs Director of the Division of Local Government Services By: Date: Page C-1 18 P PA 4 'S CE TI]FICAT k CA TE T TAUT • TY AUTH (Name) TY U GET 1.1 FISCAL YEAR: FROM: JAN. 1, 2018 TO: DEC. 31, 2018 It is hereby certified that the Authority Budget, including both the Annual Budget and the Capital Budget/Program annexed hereto, represents the members of the governing body's resolve with respect to statute in that: all estimates of revenue are reasonable, accurate and correctly stated; all items of appropriation are properly set forth; and in itemization, form and content, the budget will permit the exercise of the comptroller function within the Authority. It is further certified that all proposed budgeted amounts and totals are correct. Also, I hereby provide reasonable assurance that all assertions contained herein are accurate and all required schedules are completed and attached. Preparer's Signature: ./` V y -t7 � - Name: RONALD F. GARDNER Title: TREASURER Address: 61 COOKE AVENUE CARTERET, NJ 07008 Phone Number: 732.541.3804 Fax Number: 732.541.4989 E-mail address RFG(d,HM-PA.NET Page C-2 2018 APP VAL CE TIFICATI CA TE T P ' T AUT (Name) AUTH ITY GET FISCAL YEAR; FROM: JAN. 1, 2018 TO: DEC. 31. 2018 It is hereby certified that the Authority Budget, including all schedules appended hereto, are a true copy of the Annual Budget and Capital Budget/Program approved by resolution by the governing body of the Carteret Port Authority, at an open public meeting held pursuant to N.J.A.C. 5:31-2.3, on the 19 day of December , 2017. It is further certified that the recorded vote appearing in the resolution represents not less than a majority of the full membership of the governing body thereof. Officer's Signature: 1 s E �'li-/ L PG�ot ZE k -I Name: CARMELA POGORZELSKI Title: CLERK/SECRETARY Address: 61 COOKE AVENUE CARTERET, NJ 07008 Phone Number: 732.541.3804 Fax Number: 732.541.4989 E-mail address POGORZELSKI@CARTERET.NET Page C-3 SITE C Authority's Web Address: W W W.CI.CARTERET.NJ.US All authorities shall maintain either an Internet website or a webpage on the municipality's or county's Internet website. The purpose of the website or webpage shall be to provide increased public access to the authority's operations and activities. N.J.S.A. 40A:5A-17.1 requires the following items to be included on the Authority's website at a minimum for public disclosure. Check the boxes below to certify the Authority's compliance with N.J.S.A. 40A:5A-17.1. A description of the Authority's mission and responsibilities ❑ Commencing with 2013, the budgets for the current fiscal year and immediately preceding two prior years The most recent Comprehensive Annual Financial Report (Unaudited) or similar financial information Commencing with 2012, the annual audits of the most recent fiscal year and immediately two prior years The Authority's rules, regulations and official policy statements deemed relevant by the governing body of the authority to the interests of the residents within the authority's service area or jurisdiction Notice posted pursuant to the "Open Public Meetings Act" for each meeting of the Authority, setting forth the time, date, location and agenda of each meeting Beginning January 1, 2013, the approved minutes of each meeting of the Authority including all resolutions of the board and their committees; for at least three consecutive fiscal years The name, mailing address, electronic mail address and phone number of every person who exercises day-to-day supervision or management over some or all of the operations of the Authority A list of attorneys, advisors, consultants and any other person, firm, business, partnership, corporation or other organization which received any remuneration of $17,500 or more during the preceding fiscal year for any service whatsoever rendered to the Authority. It is hereby certified by the below authorized representative of the Authority that the Authority's website or webpage as identified above complies with the minimum statutory requirements of N.J.S.A. 40A:5A-17.1 as listed above. A check in each of the above boxes signifies compliance. Name of Officer Certifying compliance CARMELA POGORZELSKI Title of Officer Certifying compliance CLERK/SECRETARY Signature Page C-4 20 AUTH TY U CET S UTION CARTE T P T AUT (Name) FISCAL YEAR: FROM: January 1 2018 TO: Dec. 31, 2018 WHEREAS, the Annual Budget and Capital Budget for the Carteret Port Authority for the fiscal year beginning, January 1, 2018 and ending, December 31, 2018 has been presented before the governing body of the Carteret Port Authority at its open public meeting of December 19, 2017; and WHEREAS, the Annual Budget as introduced reflects Total Revenues of $500,000.00, Total Appropriations, including any Accumulated Deficit if any, of $1,000,000.00 and Total Unrestricted Net Position utilized of $500,000.00; and WHEREAS, the Capital Budget as introduced reflects Total Capital Appropriations of $925,000.00 and Total Unrestricted Net Position planned to be utilized as funding thereof, of $0.00; and WHEREAS, the schedule of rates, fees and other charges in effect will produce sufficient revenues, together with all other anticipated revenues to satisfy all obligations to the holders of bonds of the Authority, to meet operating expenses, capital outlays, debt service requirements, and to provide for such reserves, all as may be required by law, regulation or terms of contracts and agreements; and WHEREAS, the Capital Budget/Program, pursuant to N.J.A.C. 5:31-2, does not confer any authorization to raise or expend funds; rather it is a document to be used as part of the said Authority's planning and management objectives. Specific authorization to expend funds for the purposes described in this section of the budget, must be granted elsewhere; by bond resolution, by a project financing agreement, by resolution appropriating funds from the Renewal and Replacement Reserve or other means provided by law. NOW, THEREFORE BE IT RESOLVED, by the governing body of the Carteret Port Authority, at an open public meeting held on December 19, 2017 that the Annual Budget, including all related schedules, and the Capital Budget/Program of the Carteret Port Authority for the fiscal year beginning, January I, 2018 and ending, December 31, 2018 is hereby approved; and BE IT FURTHER RESOLVED, that the anticipated revenues as reflected in the Annual Budget are of sufficient amount to meet all proposed expenditures/expenses and all covenants, terms and provisions as stipulated in the said Authority's outstanding debt obligations, capital lease arrangements, service contracts, and other pledged agreements; and BE IT FURTHER RESOL ED, that the governing body of the Carteret Port Authority will consider the Annual Budget and Ca tal Budget/Pro ram fo adoption on M Ei f i GH 131 O l . (Sect- 's Signa, Governing Body Member: D'Orsi Bellino Caliguari Kaskiw Reiman Water (Alternate) Recorded Vote Aye Nay :// V December 19, 2017 (Date) Abstain Absent Y 7 Page C-5 2018 ADOPTION CERTIFICATION CARTERET PORT AUTHORITY (Name) AUTHORITY BUDGET FISCAL YEAR: FROM: Jan. 1, 2018 TO: Dec. 31, 2018 It is hereby certified that the Authority Budget and Capital Budget/Program annexed hereto is a true copy of the Budget adopted by the governing body of the Carteret Port Authority, pursuant to N.J.A.C. 5:31-2.3, on the 11 day of, December, 2018. Officer's Signature: 6 ) Name: Ronald F. Gardner Title: Treasurer Address: 61 Cooke Avenue Carteret NJ 7088 Phone Number: 732.541.3804 Fax Number: 732.541.4989 E-mail address rfg@hm-pa.net Page C-6 2018 ADOPTED BUDGET RESOLUTION CARTERET PORT AUTHORITY (Name) FISCAL YEAR: FROM: JAN. 1, 2018 TO: DEC. 31, 2018 WHEREAS, the Annual Budget and Capital Budget/Program for the Carteret Port Authority for the fiscal year beginning January 1, 2018 and ending, December 31, 2018 has been presented for adoption before the governing body of the Carteret Port Authority at its open public meeting of December 11, 2018; and WHEREAS, the Annual Budget and Capital Budget as presented for adoption reflects each item of revenue and appropriation in the same amount and title as set forth in the introduced and approved budget, including all amendments thereto, if any, which have been approved by the Director of the Division of Local Government Services; and WHEREAS, the Annual Budget as presented for adoption reflects Total Revenues of $500,000.00, Total Appropriations, including any Accumulated Deficit, if any, of $1,000,000.00 and Total Unrestricted Net Position utilized of $500,000.00; and WHEREAS, the Capital Budget as presented for adoption reflects Total Capital Appropriations of $925,000 and Total Unrestricted Net Position planned to be utilized of $0.00; and NOW, THEREFORE BE IT RESOLVED, by the governing body of Carteret Port Authority, at an open public meeting held on December 11, 2018 that the Annual Budget and Capital Budget/Program of the Carteret Port Authority for the fiscal year beginning, January 1, 2018 and, ending, December 31, 2018 is hereby adopted and shall constitute appropriations for the purposes stated; and BE IT FURTHER RESOLVED, that the Annual Budget and Capital Budget/Program as presented for adoption reflects each item of revenue and appropria ion in the same amount and title as set forth in the introduced and approved budget, including all amendments thereto, if any which have been approved by the Director of the Division of Local Government Services. (Secreta1iy's Signatu Governing Body Member: V/1 S ki w JI CA 1._ 61-4:4 V. T3rLLL!JO W TYORsz 0,/A-TF R S R EIMNQ December 11, 2018 (Date) Recorded Vote Aye Nay Abstain Absent Page C-7 2018 AUT TY U GET Narrative and In or i ration Section 201 A ESSAGE & ANALY S ITY (Name AUT TY U GET FISCAL YEAR: FROM: JAN. 1, 2018 TO: DEC. 31, 2018 Answer all questions below. Attach additional pages and schedules as needed. 1. Complete a brief statement on the 2018/2018-2019 proposed Annual Budget and make comparison to the 2017/2017-2018 adopted budget for each operation. Explain any variances over +/-10% (As shown on budget page F-4 explain the reason for changes for each appropriation changing more than 10%) for each line item by operation. Explanations of variances should include a description of the reason for the increase/decrease in the budgeted line item, not just an indication of the amount and percent of the change. Attach any supporting documentation that will help to explain the reason for the increase/decrease in the budgeted line item. For example, if anticipated service charges have increased 15% due to an increase in rates, provide a copy of the resolution authorizing the rate increase. The Budget anticipates increased local subsidy funding from the Borough as part of its capital program for CY 2018. 2. Complete a brief statement on the impact the proposed Annual Budget will have on Anticipated Revenues, especially service charges and on the general purpose/component unit financial statements. Explain significant increases or decreases, if any. An increase or decrease is considered significant if it is over +/-10% (As shown on budget page F-2 explain reason for change for each revenue changing more than 10%) from the current year adopted budget. The Budget anticipates an increase in local subsidy funding from the Borough of Carteret for CY 2018. 3. Describe the state of the local/regional economy and how it may impact the proposed Annual Budget, including the planned Capital Budget/Program. The Borough of Carteret continues in its efforts to revitalization and development the Borough's waterfront, and the Cy 2018 Budget propose to authorize funds for the construction of an event center. 4. Describe the reasons for utilizing Unrestricted Net Position in the proposed Annual Budget, i.e. rate stabilization, debt service reduction, to balance the budget, etc. If the Authority's budget anticipates a use of Unrestricted Net Position, this question must be answered. The Port Authority unrestricted net assets will be utilized to provide funding for the capital program. 5. Identify any sources of funds transferred to the County/Municipality as a budget subsidy or a shared service and explain the reason for the transfer (i.e.: to balance the County/Municipality budget, etc.). N/A 6. The proposed budget must not reflect an anticipated deficit from 2018/2018-2019 operations. If there exists an accumulated deficit from prior years' budgets (and funding is included in the proposed budget as a result of a prior deficit) explain the funding plan to eliminate said deficit (N.J.S.A. 40A:5A-12). If the Authority has a net deficit reported in its most recent audit, it must provide a deficit reduction plan in response to this question. (Prepare a response to deficits caused by the implementation of GASB 68) N/A 7. Attach a schedule of the Authority's existing rate structure (connection fees, parking fees, service charges, etc.) if it has been changed since the prior year budget submission and a schedule of the proposed rate structure for the upcoming fiscal year. Explain any proposed changes in the rate structure and attach the resolution approving the change in the rate structure, if applicable. N/A Page N-1 AUTHORITY CONTACT INFORMATION 2018 Please complete the following information regarding this Authority. All information requested below must be completed. Name of Authority: CARTERET PORT AUTHORITY Federal ID Number: 83-0436698 Address: 61 COOKE AVENUE City, State, Zip: CARTERET NJ 07008 Phone: (ext.) 732.541.3804 Fax: 732.541.4989 Preparer's Name: RONALD F. GARDNER, TREASURER Preparer's Address: 61 COOKE AVENUE City, State, Zip: CARTERET NJ 07008 Phone: (ext.) 732.541.3804 Fax: 732.541.4989 E-mail: RFG@HM-PA.NET Chief Executive Officer: HANK D'ORSI, CHAIRMAN Phone: (ext.) 732.541.3804 Fax: 732.541.4989 E-mail: POGORZELSKI@CARTERET.NET Chief Financial Officer: RONALD F. GARDNER, TREASURER Phone: (ext.) 732.541.3804 Fax: 732.541.4989 E-mail: RFG @ HM-PA.NET Name of Auditor: ROBERT ALLISON Name of Firm: HOLMAN FRENIA ALLISON PC Address: 912 HWY 33, SUITE 2 City, State, Zip: FREEHOLD NJ 07728 Phone: (ext.) 732 409 0800 Fax: E-mail: RALLISON @ HFACPAS.COM Page N-2 AUT TY INF CAST P T AUT TY (Name) NAL UEST!ONN I RE FISCAL YEAR: FROM: JAN. 1, 2018 TO: DEC. 31, 2018 Answer all questions below completely and attach additional information as required. 1) Provide the number of individuals employed in (Use Most Recent W-3 Available 2016 or 2017) as reported on the Authority's Fonn W-3, Transmittal of Wage and Tax Statements: 2 2) Provide the amount of total salaries and wages as reported on the Authority's Form W-3, (Use Most Recent W-3 Available 2016 or 2017)Transmittal of Wage and Tax Statements:$4.000 3) Provide the number of regular voting members of the governing body: 5 4) Provide the number of alternate voting members of the governing body: 1 5) Did any person listed on Page N-4 have a family or business relationship with any other person listed on Page N-4 during the current fiscal year? NO If "yes, " attach a description of the relationship including the names of the individuals involved and their positions at the Authority. 6) Did all individuals that were required to file a Financial Disclosure Statement for the current fiscal year (Most Recent Filing that March 31. 2017 or 2018 deadline has passed 2017 or 2018) because of their relationship with the Authority file the form as required? (Checked to see if individuals actually filed at http://www.state.nj.us/dca/divisions/digs/resources/fds.html before answering) YES If "no," provide a list of those individuals who failed to file a Financial Disclosure Statement and an explanation as to the reason for their failure to file. 7) Does the Authority have any amounts receivable from current or former commissioners, officers, key employees or highest compensated employees? NO If "yes," attach a list of those individuals, their position, the amount receivable, and a description of the amount due to the Authority. 8) Was the Authority a party to a business transaction with one of the following parties: a. A current or former commissioner, officer, key employee, or highest compensated employee? NO b. A family member of a current or former commissioner, officer, key employee, or highest compensated employee? NO c. An entity of which a current or former commissioner, officer, key employee, or highest compensated employee (or family member thereof) was an officer or direct or indirect owner? NO If the answer to any of the above is "yes, " attach a description of the transaction including the name of the commissioner, officer, key employee, or highest compensated employee (or family member thereon of the Authority; the name of the entity and relationship to the individual or family member; the amount paid; and whether the transaction was subject to a competitive bid process. 9) Did the Authority during the most recent fiscal year pay premiums, directly or indirectly, on a personal benefit contract? A personal benefit contract is generally any life insurance, annuity, or endowment contract that benefits, directly or indirectly, the transferor, a member of the transferor's family, or any other person designated by the transferor. NO If "yes," attach a description of the arrangement, the premiums paid, and indicate the beneficiary of the contract. 10) Explain the Authority's process for determining compensation for all persons listed on Page N-4. Include whether the Authority's process includes any of the following: 1) review and approval by the commissioners or a committee thereof; 2) study or survey of compensation data for comparable positions in similarly sized entities; 3) annual or periodic performance evaluation; 4) independent compensation consultant; and/or 5) written employment contract. Attach a narrative of your Authorities procedures for all employees. N/A 1 1) Did the Authority pay for meals or catering during the current fiscal year? NO If -yes," attach a detailed list of all meals and/or catering invoices for the current fiscal year and provide an explanation for each expenditure listed. Page N-3 (I of 2) 12) Did the Authority pay for travel expenses for any employee or individual listed on Page N-4? NO If "yes," attach a detailed list of all travel expenses for the current fiscal year and provide an explanation for each expenditure listed. 13) Did the Authority provide any of the following to or for a person listed on Page N-4 or any other employee of the Authority: a. First class or charter travel NO b. Travel for companions NO c. Tax indemnification and gross -up payments NO d. Discretionary spending account NO e. Housing allowance or residence for personal use NO f. Payments for business use of personal residence NO g. Vehicle/auto allowance or vehicle for personal use NO h. Health or social club dues or initiation fees NO i. Personal services (i.e.: maid, chauffeur, chef) NO If the answer to any of the above is "yes, " attach a description of the transaction including the name and position of the individual and the amount expended. 14) Did the Authority follow a written policy regarding payment or reimbursement for expenses incurred by employees and/or commissioners during the course of Authority business and does that policy require substantiation of expenses through receipts or invoices prior to reimbursement? N/A If "no, " attach an explanation of the Authority's process for reimbursing employees and commissioners for expenses. (If your authority does not allow for reimbursements indicate that in answer) 15) Did the Authority make any payments to current or former commissioners or employees for severance or termination? NO If "yes, " attach explanation including amount paid. 16) Did the Authority make any payments to current or former commissioners or employees that were contingent upon the performance of the Authority or that were considered discretionary bonuses? NO If "yes," attach explanation including amount paid. 17) Did the Authority comply with its Continuing Disclosure Agreements for all debt issuances outstanding by submitting its audited annual financial statements, annual operating data, and notice of material events to the Municipal Securities Rulemaking Board's Electronic Municipal Marketplace Access (EMMA) as required? N/A If "no, " attach a description of the Authority's plan to ensure compliance with its Continuing Disclosure Agreements in the future. 18) Did the Authority receive any notices from the Department of Environmental Protection or any other entity regarding maintenance or repairs required to the Authority's systems to bring them into compliance with current regulations and standards that it has not yet taken action to remediate? NO If ' yes, " attach explanation as to why the Authority has not yet undertaken the required maintenance or repairs and describe the Authority's plan to address the conditions identified. 19) Did the Authority receive any notices of fines or assessments from the Department of Environmental Protection or any other entity due to noncompliance with current regulations (i.e.: sewer overflow, etc.)? NO If "yes," attach a description of the event or condition that resulted in the fine or assessment and indicate the amount of the fine or assessment. Page N-3 (2 of 2) AUTHORITY SCHEDULE OF COMMISSIONERS, OFFICERS, KEY EMPLOYEES, HIGHEST COMPENSATED EMPLOYEES AND INDEPENDENT CONTRACTORS CA TE T T AUT IT Y (Name) FISCAL YEAR: FROM: JAN. 1, 2018 TO: DEC. 31, 2018 Complete the attached table for all persons required to he listed per i#1-4 below. 1) List all of the Authority's current commissioners and officers and amount of compensation from the Authority and any other public entities as defined below. Enter zero if no compensation was paid. 2) List all of the Authority's key employees and highest compensated employees other than a commissioner or officer as defined below and amount of compensation from the Authority and any other public entities. 3) List all of the Authority's former officers, key employees and highest compensated employees who received more than $100,000 in reportable compensation from the Authority and any other public entities during the most recent fiscal year completed. 4) List all of the Authority's former commissioners who received more than $10,000 in reportable compensation from the Authority and any other public entities during the most recent fiscal year completed. Commissioner: A member of the governing body of the authority with voting rights. Include alternates for purposes of this schedule. Officer: A person elected or appointed to manage the authority's daily operations at any time during the year, such as the chairperson, vice -chairperson, secretary, or treasurer. For the purposes of this schedule, treat the authority's top management official and top financial official as officers. A member of the governing body may be both a commissioner and an officer for the purposes of this schedule. Key employee: An employee or independent contractor of the authority (other than a commissioner or officer) who meets both of the following criteria: a) The individual received reportable compensation from the authority and other public entities in excess of $150,000 for the most recent fiscal year completed; and b) The individual has responsibilities or influence over the authority as a whole or has power to control or determine 10% or more of the authority's capital expenditures or operating budget. Highest compensated employee: One of the five highest compensated employees or independent contractors of the authority other than current commissioners, officers, or key employees whose aggregate reportable compensation from the authority and other public entities is greater than $100,000 for the most recent fiscal year completed. Compensation: All forms of cash and non -cash payments or benefits provided in exchange for services, including salaries and wages, bonuses, severance payments, deferred payments, retirement benefits, fringe benefits, and other financial arrangements or transactions such as personal vehicles, meals, housing, personal and family education benefits, below -market loans, payment of personal or family travel, entertainment, and personal use of the Authority's property. Compensation includes payments and other benefits provided to both employees and independent contractors in exchange for services. Reportable compensation: (Use the Most Recent W-2 available 2017 or 2018. The aggregate compensation that is reported (or is required to be reported) on Form W-2, box 1 or 5, whichever amount is greater, and/or Form 1099-MISC, box 7, for the most recent calendar year ended 60 days before the start of the proposed budget year. For example, for fiscal years ending December 31, 2018, the most recent W-2 and 1099 should be used 2017 or 2016 (60 days prior to start of budget year is November 1, 2017, with 2016 being the most recent calendar year ended), and for fiscal years ending June 30, 2018, the calendar year 2017 W- 2 and 1099 should be used (60 days prior to start of budget year is May 1, 2017, with 2017 being the most recent calendar year ended). Other Public Entity: Any municipality, county, local authority, fire district, or other government unit, regardless of whether it is related in any way to the Authority either by function or by physical location. Page N-4 (1 of 2) Authority Schedule of C ommissioners, O fficers, Key Employees, Highest Compensated Employees and Independent Contractors (Continued) For the Period January 1, 2018 Average Hours per Week Dedicated to Name Title Position Carteret P ort Authority to December 31, 2018 Position (Can Check more th an Reportable Compensation from Authority (W. C olumn f or each p erso n) 2/ 1099) 3 3, 3 a 1 Hank D'Orsi Chairman 2 Hon. Daniel J. Reiman Commissio ner 3 Joseph Caliguari Co mmissioner 4 Wesley Kaskiw Commissioner 5 Vincent Belllno Commissioner 6 7 8 9 10 11 12 13 14 15 5x 3x 3x 3x 3x Other (auto allowance, expense account, payment in Base Salary/ lieu of health Stipend Bonus benefits, etc.) Estimated amount of other c ompensation from the Authority T otal (health benefits, Compensati on pension, etc .) from Auth ority Average Names of Other Hours per Public Entities where Week Individ ual is an Dedicated to Employee or Positions held Positions at Member of the at Other Public Other Public Governing Body (1) Entities Listed in Entitles Listed See note bel ow C olumn 0 in Column 0 $ - None 0 Boro of Carteret Mayor 0 None 0 None 0 Boro of Carterer C ouncil 0 0 0 0 0 0 0 0 0 0 Estimated am ount of other compensation from Reportable Other Public Entities Compensation (health benefits, from Other pension, payment in Public Entities lieu of health (W-2/ 1099) benefits, etc.) Total Compensation All Public Entities 40 102,000 11,853 113,853 0 0 10 5,000 5,000 0 0 0 0 0 0 0 0 0 0 To tal: $ $ $ $ $ 107,000 $ 11 ,853 $ 118,853 (1) I nsert " None " in this col um n for each individ ual that d oes not hold a positi on with anoth er P ublic Entity Page N-4 (2 of 2) NOT APPLICABLE Schedule of Health Benefits - Detailed Cost Analysis Active Employees - Health Benefits - Annual Cost Single Coverage Parent & Child Employee & Spouse (or Partner) Family Employee Cost Sharing Contribution (enter as negative - ) Subtotal Commissioners - Health Benefits - Annual Cost Single Coverage Parent & Child Employee & Spouse (or Partner) Family Employee Cost Sharing Contribution (enter as negative - ) Subtotal Retirees - Health Benefits - Annual Cost Single Coverage Parent & Child Employee & Spouse (or Partner) Family Employee Cost Sharing Contribution (enter as negative - ) Subtotal Carteret Port Authority For the Period January 1, 2016 to December 31, 2018 Annual Cost # of Covered Estimate per Total Cost # of Covered Members Employee Estimate Members Annual Cost Total Prior (Medical 8, Rx) Proposed Proposed (Medical & Rx) per Employee year Year $ Increase % Increase Proposed Budget Budget Budget Current Year Current Year Cost (Decrease) (Decrease) Not Applicable Not Applicable Not Applicable GRAND TOTAL 0 #VALUEI #VALUEI #VALUEI VALUE! VALUE! VALUE! #VALUE! Yes or No Yes or No - DIV/01 - #DIV/01 #VALUE! #VALUEI - #DIV/0! - #DIV/01 VALUE! #VALUE! #DIV/01 #VALUEI #VALUEI - #DIV/0! - #DIV/01 - #DIV/01 #VALUE! #VALUEI - #DIV/01 #VALUEI #VALUE! - #DIV/01 - #DIV/01 - #DIV/01 #VALUEI #VALUE! Is medical coverage provided by the SHBP (Yes or No)? (Place Answer in Box) Is prescription drug coverage provided by the SHBP (Yes or No)? (Place Answer in Box) Note: Remember to Enter an amount in rows for Employee Cost Sharing Page N-5 Schedule of Accumulated Liability for Compensated Absences Carteret Port Authority For the Period January 1, 2018 to December 31, 2018 Complete the below table for the Authority's accrued liability for compensated absences. X Box if Authority has no Compensated Abcences X Legal Basis for Benefit (check applicable items) Individuals Eligible for Benefit Gross Days of Accumulated Compensated Absences at End of Last Issued Audit Report Dollar Value of Accrued Compensated Absence Liability Approved Labor Agreement c c Individual Employment Agreement Total liability for accumulated compensated absences at beginning of current year The total Amount Should agree to most recently issued audit report for the Authority Page N-6 Schedule of Shared Service Agreements For the Period Carteret P ort Authority January 1, 2018 to En ter the shared service agre ements that the Auth ority curre ntly eng ages in and identify the amo unt that is received/paid f or those services . Name of En tity Pro viding Service Nam e of Entity Receiving Service December 31, 2018 Type of Shar ed Service Pr ovided Comm ents (E nter m or es ec"f" • Agreement Amou nt to be Recei ved by/ Effecti ve Agreement Paid from - p I ICS ,, ..cucUi u[HLC rrl u Val e A utn ority If No Shared Servic es X this Box Page N-7 2018 AUT O TY GET Financial Schedules Section SUMMARY Carteret Part Authority For the Period January 1, 2018 to December 31, 2018 FY 2018 Proposed Budget $Increase % Increase (Decrease) (Decrease) fY 2017 Adopted Proposed vs. Proposed vs_ Budget Adopted Adopted Operation Total All Port Authority 02 N/A N/A N/A N/A Operations Total All Operations All Operations All Operations REVENUES Total Operating Revenues $ $ 5 - $ - $ - 5 $ - $ - 5 - 0015/0! Total Non -Operating Revenues 500,000 - - - - - 500,000 50,000 450,000 900.0% Total Anticipated Revenues 500,000 - - - - - 500,000 50,000 450,000 900.0% APPROPRIATIONS Total Administration 50,500 - - - - - 50,500 58,500 (8,000) -13.7% Total Cost of Providing Services 24,500 - - - 24,500 16,500 8,000 48.5% Total Principal Payments on Debt Service in Lieu of Depreciation - - - - - - #DIV 0! Total Operating Appropriations 75,000 - - _ - - 75,000 75,000 0,1% Total Interest Payments on Debt - - - - - - - - tIDIV/0! Total Other Non -Operating Appropriations 925,000 - - - 925,000 _ 925,000 NDIY10! Total Non -Operating Appropriations 925,000 - - - - 925,000 - 925,000 tIOiV/01 Accumulated Deficit - - - - - - - oDIe/0! Total Appropriations and Accumulated Deficit less: Total Unrestricted Net Position Utilized Net Total Appropriations ANTICIPATED SURPLUS (DEFICIT) 1,000,000 - - - - 1,000,000 75,000 925,000 1233.3% 500,000 500,000 F-1 500,000 25.000 475,000 19000% 500,000 50,000 450,000 900.0% $ - $ $ - IlDIV/o! Revenue Schedule Carteret Port Authority For the Period January 1, 2018 to December 31, 2018 OPERATING REVENUES Service Charges Residential Business/Commercial Industrial Intergovernmental Other Total Service Charges Connection Fees Residential Business/Commercial Industrial Intergovernmental Other Total Connection Fees Parking Fees Meters Permits Fines/Penalties Other Total Parking Fees Other Operating Revenues (List) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Total Other Revenue Total Operating Revenues NON -OPERATING REVENUES Other Non -Operating Revenues (List) Local Subsidy-Boro of Carteret Type in Type in Type in Type in Type in Total Other Non -Operating Revenue Interest on Investments & Deposits (List) Interest Earned Penalties Other Total Interest Total Non -Operating Revenues TOTAL ANTICIPATED REVENUES FY 2018 Proposed Budget Port $ Increase % Increase (Decrease) (Decrease) FY1017Adopted Proposed vs. Proposed vs. Budget Adopted Adopted Total All Total All Authority Operation #2 N/A N/A N/A N/A Operations Operations All Operations All Operations 500,000 500,000 50,000 500,000 $ $ #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 500,000 50,000 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 450,000 900.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 450,000 900.0% 500,000 $ 500,000 $ - #DIV/0! #DIV/0! #DIV/0! #DIV/0! 500,000 50,000 450,000 900.0% - $ 500,000 $ 50,000 $ 450,000 900.0% F-2 Prior Year Adopted Revenue Schedule Carteret Port Authority FY 2017 Adopted Budget OPERATING REVENUES Service Charges Residential Business/Commercial Industrial Intergovernmental Other Total Service Charges Connection Fees Residential Business/Commercial Industrial Intergovernmental Other Total Connection Fees Parking Fees Meters Permits Fines/Penalties Other Total Parking Fees Other Operating Revenues (List) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Type in (Grant, Other Rev) Total Other Revenue Total Operating Revenues NON -OPERATING REVENUES Other Non -Operating Revenues (List) Local Subidy-Boro of Carteret Type in Type in Type in Type in Type in Other Non -Operating Revenues Interest on Investments & Deposits Interest Earned Penalties Other Total Interest Total Non -Operating Revenues TOTAL ANTICIPATED REVENUES Port Operation Authority #2 N/A Total All N/A N/A N/A Operations 50,000 50,000 50,000 50,000 50,000 $ 50,000 $ $ $ $ 50,000 50,000 F-3 Appropriations Schedule Carteret Port Authority For the Period January 1, 2018 to December 31, 2018 OPERATING APPROPRIATIONS Administration - Personnel Salary & Wages Fringe Benefits Total Administration - Personnel Administration - Other (List) General & Project Costs Type in Description Type in Description FY 2018 Proposed Budget Port Operation $ Increase % Increase (Decrease) (Decrease) FY 2017 Adopted Proposed vs. Proposed vs. Budget Adopted Adopted Total All Total All Authority #2 N/A N/A N/A N/A Operations Operations All Operations All Operations $ 4,000 1,000 5,000 $ 4,000 $ 4,000 $ - 0.0% 1,000 1,000 - 0.0% 5,000 5,000 - 0.0% Miscellaneous Administration* Total Administration - Other Total Administration Cost of Providing Services - Personnel Salary & Wages Fringe Benefits Total COPS - Personnel Cost of Providing Services - Other (List) Maintenance & Supplies Type in Description Type in Description Type in Description Miscellaneous COPS* Total COPS - Other Total Cost of Providing Services Total Principal Payments on Debt Service in Lieu of Depreciation 45,500 45,500 50,500 45,500 53,500 (8,000) -15.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 45,500 53,500 (8,000) -15.0% 50,500 58,500 (8,000) -13.7% 7,500 2,000 9,500 7,500 2,000 9,500 15,000 15,000 24,500 5,000 1,500 6,500 15,000 10,000 15,000 10,000 24,500 16,500 Total Operating Appropriations 75,000 NON -OPERATING APPROPRIATIONS Total Interest Payments on Debt Operations & Maintenance Reserve Renewal & Replacement Reserve Municipality/County Appropriation Other Reserves Total Non -Operating Appropriations TOTAL APPROPRIATIONS ACCUMULATED DEFICIT TOTAL APPROPRIATIONS & ACCUMULATED DEFICIT UNRESTRICTED NET POSITION UTILIZED Municipality/County Appropriation Other 500,000 Total Unrestricted Net Position Utilized 500,000 TOTAL NET APPROPRIATIONS $ 500,000 $ 75,000 75,000 925,000 925,000 925,000 1,000,000 - 925,000 - 1,000,000 1,000,000 - 1,000,000 - $ - $ - $ - $ 2,500 50.0% 500 33.3% 3,000 46.2% 5,000 50.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 5,000 50.0% 8,000 48.5% #DIV/0! 0.0% #DIV/0! #DIV/0! 925,000 #DIV/0! #DIV/0! #DIV/01 925,000 #DIV/0! 75,000 925,000 1233.3% #DIV/0! 75,000 925,000 1233.3% - #DIV/0! 500,000 25,000 475,000 1900.0% 500,000 25,000 475,000 1900.0% - $ 500,000 $ 50,000 $ 450,000 900.0% * Miscellaneous line items may not exceed 5% at total operating appropriations shown below. If amount in miscellaneous is greater than the amount shown below, then the line item must be itemized above. 5% of Total Operating Appropriations $3,750.00 $ - $ - $ - $ - $ - $ 3,750.00 F-4 Prior Year Adopted Appropriations Schedule Carteret Port Authority FY 2017 Adopted Budget Port Operation Total All Authority #2 N/A N/A N/A N/A Operations OPERATING APPROPRIATIONS Administration - Personnel Salary & Wages Fringe Benefits Total Administration - Personnel Administration - Other (List) General & Project Costs Type In Description Type In Description Type In Description Miscellaneous Administration' Total Administration - Other Total Administration Cost of Providing Services - Personnel Salary & Wages Fringe Benefits Total COPS - Personnel Cost of Providing Services - Other (List) Maintenece & Supplies Type In Description Type In Description Type In Description Miscellaneous COPS* Total COPS - Other Total Cost of Providing Services Total Principal Payments on Debt Service in Lieu of Depreciation Total Operating Appropriations NON -OPERATING APPROPRIATIONS Total Interest Payments on Debt Operations & Maintenance Reserve Renewal & Replacement Reserve Municipality/County Appropriation Other Reserves Total Non -Operating Appropriations TOTAL APPROPRIATIONS ACCUMULATED DEFICIT TOTAL APPROPRIATIONS & ACCUMULATED DEFICIT UNRESTRICTED NET POSITION UTILIZED Municipality/County Appropriation Other Total Unrestricted Net Position Utilized TOTAL NET APPROPRIATIONS $ 4,000 1,000 5,000 4,000 1,000 5,000 53,500 53,500 53,500 53,500 58,500 58,500 5,000 1,500 6,500 5,000 1,500 6,500 10,000 10,000 10,000 10,000 16,500 16,500 75,000 75,000 75,000 75,000 75,000 75,000 25,000 25,000 $ 50,000 5 - - $ - 25,000 - $ 50,000 * Miscellaneous line items may not exceed 5% of total operating appropriations shown below. If amount in miscellaneous is greater than the amount shown below, then the line item must be itemized above. 5% of Total Operating Appropriations $ 3,750.00 $ - $ - $ - $ - $ - $ 3,750.00 F-5 Debt Service Schedule - Principal U AUthority has no debt X this boa a j Carteret Port Authority Fiscal Yeas Ending in Adopted Budget Year 2017 Proposed Budget Year 2018 Port Authority Type in issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total Principal Operation #2 Type in Issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total Principal N/A Type in Issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total Principal N/A Type in Issue Name Type In Issue Name Type in Issue Name Type in Issue Name Total Principal N/A Type in Issue Name Type in Issue Name Type In Issue Name Type in Issue Name Total Principal N/A Type in Issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total Principal TOTAL PRINCIPAL ALL OPERATIONS $ $ $ Indicate the Authority's most recent bond rating and the year of the rating by ratings service. &toady's Fitch Bond Rating year of Last Rating Total Principal 2019 2020 2021 2022 2023 Thereafter Outstanding Standard & Poors Fib $ $ Debt Service Schedule - Interest If Authority has no debt X this box Port Authority Type in Issue Name Type in Issue Name Type in Issue Name Type in issue Name Total Interest Payments Operation 42 Type in Issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total Interest Payments N/A Type in Issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total interest Payments N/A Type in Issue Name Type In Issue Name Type In Issue Name Type in Issue Name Total interest Payments N/A Type in Issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total Interest Payments N/A Type in Issue Name Type in Issue Name Type in Issue Name Type in Issue Name Total Interest Payments TOTAL INTEREST ALL OPERATIONS Carteret Port Authority Fiscal Year Ending in Adopted Budget Proposed Budget Year 2017 Year 2018 Total Interest Payments 2010 2020 2021 2022 2023 Thereafter Outstanding $ - $ F-7 Net Position Reconciliation Carteret Port Authority For the Period January 1, 2018 to December 31, 2018 FY 2018 Proposed Budget TOTAL NET POSITION BEGINNING OF LATEST AUDIT REPORT YEAR(1) Less: Invested in Capital Assets, Net of Related Debt (1) Less: Restricted for Debt Service Reserve (1) Less: Other Restricted Net Position (1) Total Unrestricted Net Position (1) Less: Designated for Non -Operating Improvements & Repairs Less: Designated for Rate Stabilization Less: Other Designated by Resolution Plus: Accrued Unfunded Pension Liability (1) Plus: Accrued Unfunded Other Post -Employment Benefit Liability (1) Plus: Estimated Income (Loss) on Current Year Operations (2) Plus: Other Adjustments (attach schedule) Port Authority Operation q2 N/A N/A N/A N/A $ 38,245 Total All Operations $ 38,245 38,245 38,245 500,000 500,000 UNRESTRICTED NET POSITION AVAILABLE FOR USE IN PROPOSED BUDGET 538,245 - - - - - 538,245 Unrestricted Net Position Utilized to Balance Proposed Budget 500,000 - - - 500,000 Unrestricted Net Position Utilized in Proposed Capital Budget - - - - - Appropriation to Municipality/County (3) - - - Total Unrestricted Net Position Utilized in Proposed Budget 500,000 - - - - - 500,000 PROJECTED UNRESTRICTED UNDESIGNATED NET POSITION AT END OF YEAR Last issued Audit Report (4) $ 38,245 $ - $ - $ $ $ - $ 38,245 (1) Total of all operations for this line item must agree to audited financial statements. (2) include budgeted and unbudgeted use of unrestricted net position in the current year's operations. (3) Amount may not exceed 5% of total operating appropriations. See calculation below. Maximum Allowable Appropriation to Municipality/County $ - $ - $ - $ - $ - $ - $ (4) if Authority is projecting a deficit for ay operation at the end of the budget period, the Authority must attach o statement explaining its plan to reduce the deficit, includinq the timeline for elimination of the deficit, if not already detailed in the budget narrative section. F-8 CA T AUT TY (Name) 2018 F, TIFICATI IN F AUT ITS' CA. `AL GET FISCAL YEAR: FROM: JAN. 1, 2018 TO: DEC. 31, 2018 [ X ] It is hereby certified that the Authority Capital Budget/Program annexed hereto is a true copy of the Capital Budget/Program approved, pursuant to N.J.A.C. 5:31-2.2, along with the Annual Budget, by the governing body of the Carteret Port Authority, on the 19 day of December, 2017. OR [ ] It is hereby certified that the governing body of the Authority have elected NOT to adopt a Capital Budget /Program for the aforesaid fiscal year, pursuant to N.J.A.C. 5:31-2.2 for the following reason(s): Officer's Signature: Name: RONALD F GARDNER Title: TREASURER Address: 61 COOKE AVENUE CARTERET, NJ 07008 Phone Number: 732.541.3804 Fax Number: 732.541.4989 E-mail address RFG@HM-PA.NET Page CB -1 2018 CAPITAL U CET Carteret Port Au Authority (Name) ESSAGF FISCAL YEAR: FROM: Jan. 1, 2018 TO: Dec. 31, 2018 1. Has each municipality or county affected by the actions of the authority participated in the development of the capital plan and reviewed or approved the plans or projects included within the Capital Budget/Program? YES 2. Has each capital project/project financing been developed from a specific capital improvement plan or report; does it include full lifecycle costs; and is it consistent with appropriate elements of Master Plans or other plans in the jurisdiction(s) served by the authority? YES 3. Has a long-term (10-20 years) infrastructure needs assessment or other capital plan with a horizon beyond six years been prepared? YES 4. Describe the projected impact of the proposed capital projects, including impact on the schedule of rates, fees, and service charges and the impact on current and future year's schedules. FUNDING PROVIDED BY CAPITAL RESERVE RENEWAL & REPLACEMENT FUND. 5. Please indicate which capital projects/project financings are being undertaken in the Metropolitan or Suburban Planning Areas as defined in the State Development and Redevelopment Plan. N/A 6. Please indicate which capital projects/project financings are being undertaken within the boundary of a State Planning Commission -designated Center and/or Endorsed Plan and if the project was included in the Plan Implementation Agenda for that Center/Endorsed Plan. N/A Add additional sheets if necessary. Page CB -2 Proposed Capital Budget Carteret Port Authority For the Period January 1, 2018 to December 31, 2018 Funding Sources Renewal & Estimated Total Unrestricted Net Replacement Debt Cost Position Utilized Reserve Authorization Capital Grants Other Sources Port Authority Construction of an Event Center Type in Description Type in Description Type in Description $ 925,000 Total Operation fit 925,000 Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total TOTAL PROPOSED CAPITAL BUDGET $ 925,000 925,000 $ 925,000 $ 925,000 $ $ Enter brief description of up to four projects for each operation above. For operations with more than four budgeted projects, please attach additional schedules. Input total amount of all projects for the operation on single line and enter "See Attached Schedule" instead of project description. CB -3 5 Year Capital Improvement Plan Port Authority Construction of an Event Center Type in Description Type in Description Type in Description Total Operation 112 Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total TOTAL Carteret Port Authority For the Period January 1, 2018 to December 31, 2018 Fiscal Year Beginning in Estimated Total Current Budget Year Cost 2018 2019 2020 2021 2022 2023 925,000 $ 925,000 925,000 925,000 $ 925,000 $ 925,000 $ - $ - $ - $ $ Project descriptions entered on Page CB -3 will carry forward to Pages CB -4 and CB -5. No need to re-enter project descriptions above. CB -4 5 Year Capital Improvement Plan Funding Sources Port Authority Construction of an Event Center Type in Description Type in Description Type in Description Total Operation 112 Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total N/A Type in Description Type in Description Type in Description Type in Description Total TOTAL Total 5 Year Plan per CB -4 Balance check Carteret Port Authority For the Period January 1, 2018 to December 31, 2018 Funding Sources Renewal & Estimated Total Unrestricted Net Replacement Debt Cost Position Utilized Reserve Authorization Capital Gran 925,000 925,000 $ 925,000 $ 925,000 925,000 925,000 - $ 925,000 $ - if amount is other than zero, verify that projects listed above match projects listed on CB -4. Project descriptions entered on Page CB -3 will carry forward to Pages CB -4 and CB -5. No need to re-enter project descriptions above. CB -5