HomeMy Public PortalAboutCAPA Approved 2019 BudgetAuthority Budget of
State Filing Year
For the Period:
Carteret Port Authority
2019
January 1, 2019 to December 31, 2019
www.carteret.net
Authority Web Address
partment Of
Division of Local Government Services
2019 AUTHORITY BUDGET
Certification Section
2019
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM JAN. 1, 2019 TO DEC. 31, 2019
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
By: Date:
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
2019 PREPARER'S CERTIFICATION
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM: JAN. 1, 2019 TO: DEC. 31, 2019
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.
n iA . {/ al
Preparer'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
RGARDNER@PKFOD.COM
Page C-2
2019 APPROVAL CERTIFICATION
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM: JAN. 1, 2019 TO: DEC. 31, 2019
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 1st day of
February, 2019.
It is further certified that the recorded vote appe ring in the resolution represents not less than a
majority of the full membership of the governing boy thereof.
Officer's Signature:
(
,
Name:
CARMELA POGO ELS
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
INTERNET WEBSITE CERTIFICATION
Authority's Web Address:
www.carteret.net
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
n
C
C
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 POGO ELSKI
Title of Officer Certifying compliance CLERK/SECRETAR
Signature
Page C-4
1
2019 AUTHORITY BUDGET RESOLUTION
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: January 1 2019 TO: Dec. 31, 2019
WHEREAS, the Annual Budget and Capital Budget for the Carteret Port Authority for the fiscal year beginning, January 1,
2019 and ending, December 31, 2019 has been presented before the governing body of the Carteret Port Authority at its open
public meeting of February 1, 2019; and
WHEREAS, the Annual Budget as introduced reflects Total Revenues of $500,000.00, Total Appropriations, including any
Accumulated Deficit if any, of $ 500,000.00 and Total Unrestricted Net Position utilized of $ 0.00; and
WHEREAS, the Capital Budget as introduced reflects Total Capital Appropriations of $ 0.00 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 1, 2019 and ending, December 31, 2019 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 obligati • s, capital lease arrangements, service contracts, and other pledged agreements; and
BE IT FURTHER RESO VED, that the governing body of the Carteret Port Authority will consider the Annual Budget and
C. •ital Budget/Program i.r adoption on May 14, 2019.
ecr•tary's Sign:tur
D' Orsi
Bellino
Caliguari
Kaskiw
Reiman
Water (Alternate)
Governing Body
Member:
February 1, 2019
(Date)
Recorded Vote
Aye Nay Abstain Absent
X
X
X
Page C-5
X
x
2019 AUTHORITY BUDGET
Narrative and Information Section
2019 AUTHORITY BUDGET MESSAGE & ANALYSIS
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM: JAN. 1, 2019 TO: DEC. 31, 2019
Answer all questions below. Attach additional pages and schedules as needed.
1. Complete a brief statement on the 2019 proposed Annual Budget and make comparison to the 2018
adopted budget for each operation. Explain any variances over +1-10% (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 for the operation of the municipal marina
for CY 2019. The municipal marina is opening during the fiscal year 2019.
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 increased local subsidy
funding from the Borough for the operation of the municipal marina for CY 2019. The municipal marina
is opening during the fiscal year 2019, accordingly costs associated with the operations are budgeted in
CY 2019.
3. Describe the state of the local/regional economy and how it may impact the proposed Annual Budget,
including the planned Capital Budget/Program. N/A
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. N/A
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 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
2019
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
AUTHORITY INFORMATIONAL QUESTIONNAIRE
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: JAN. 1, 2019 TO: DEC. 31, 2019
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 2018) as reported
on the Authority's Form 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 2018) 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: I
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 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
thereofi 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
11) 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 (1 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
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: JAN. 1, 2019 TO: DEC. 31, 2019
Complete the attached table for all persons required to be listed per #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, 2019, the most recent W-2 and 1099
should be used 2018 or 2017 (60 days prior to start of budget year is November 1, 20178 with 2017 being
the most recent calendar year ended), and for fiscal years ending June 30, 2019, the calendar year 2018 W-
2 and 1099 should be used (60 days prior to start of budget year is May 1, 2019, with 2018 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)
Schedule of Health Benefits - Detailed Cost Analysis
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
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 8, Spouse (or Partner)
Family
Employee Cost Sharing Contribution (enter as negative - )
Subtot
Retirees- Health Benefits - Annual Cost
Single Coverage
Parent & Child
Employee & Spouse (or Partner)
Family
Employee Cost Sharing Contribution (enter as negative -
Subtotal
Annual Cost
# of Covered Estimate per Total Cost # of Covered
Members (Medical Employee Estimate Members Annual Cost per
& Rx) Proposed Proposed Proposed (Medical & Re) Employee Total Prior year $ Increase % Increase
Budget Budget Budget Current Year Current Year Year Cost (Decrease) (Decrease)
- DIV/0!
- #DIV/0!
- #DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
- #DIV/01
- #DIV/0!
#DIV/0!
- #DIV/0!
#DIV/0!
#DIV/0!
- #DIV/0!
- #DIV/0!
- #DIV/0!
- #DIV/0!
- #DIV/0!
#DIV/o!
GRAND TOTAL.
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
0
Yes or No
Yes or No
- #DIV/0!
Page N-5
Schedule of Accumulated Liability for Compensated Absences
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
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 tems)
Dollar Value of
Gross Days of Accumulated Accrued
Compensated Absences at End Compensated
Individuals Eligible for Benefit of Last Issued Audit Report Absence Liability
Approved
Labor
Agreement
!Resolution 1
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 Port Authority
January 1, 2019 to
Enter the shared service agreements that the Authority currently engages in and identify the amount that is received/paid for those services.
Name of Entity Providing Service
Name of Entity Receiving Service
Type of Shared Service Provided
December 31, 2019
Agreement
Effective
Comments (Enter more specifics if needed) Date
Agreement
End Date
Amount to be
Received by/
Paid from
Authority
If No Shared Services X this Box
X
Page N-7
2018 AUTHORITY BUDGET
Financial Schedules Section
SUMMARY
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
FY 2019 Proposed Budget
$ Increase 96 Increase
(Decrease) (Decrease)
FY 2018 Adopted Proposed vs. Proposed vs.
Budget Adopted Adopted
Port Operation Total All
Authority #2 N/A N/A N/A N/A Operations Total All Operations All Operations All Operations
REVENUES
Total Operating Revenues $ $ - $ - $ - $ - $ - $ $ - $ - #DIV/0!
Total Non -Operating Revenues 500,000 - - - - - 500,000 500,000 - 0.0%
Total Anticipated Revenues 500,000 - - - - - 500,000 500,000 - 0.0%
APPROPRIATIONS
Total Administration 76,000 - - - - - 76,000 75,000 1,000 1.3%
Total Cost of Providing Services 424,000 - - - - 424,00 - 424,000 #DIV/0!
Total Principal Payments on Debt Service in Lieu
of Depreciation - - - - - - - - - #DIV/0l
Total Operating Appropriations 500,000 - - - - - 500,000 75,000 425,000 566.7%
Total Interest Payments on Debt
Total Other Non -Operating Appropriations
Total Non -Operating Appropriations
925,00 (925,0001
925,000 (925,0001
#DIV/0!
-100.0%
-100.0%
Accumulated Deficit - - - - - - - - - #DIV/0!
Total Appropriations and Accumulated
Deficit 50,00 - - - - - 500,000 1,000,000 (500,000) -50.0%
Less: Total Unrestricted Net Position Utilized
Net Total Appropriations
ANTICIPATED SURPLUS (DEFICIT)
500,000
500,000 (500,000) -100.0%
500,000 500,000 - 0.0%
$ $
#DIV/Ol
F•1
Revenue Schedule
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
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 2019 Proposed Budget
Port
Total All
$ Increase % Increase
(Decrease) (Decrease)
FY 2018 Adopted Proposed vs. Proposed vs.
Budget Adopted Adopted
Authority Operation#2 N/A N/A N/A N/A Operations Total All Operations All Operations All Operations
500,000
500,000
500,000
500,000
500,000 500,000
500,000
$ 500,000 $
- 500,000 500,000
$ $ $ S - $ 500,000 $ 500,000 $
#0IV/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!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
0.0%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
0.0%
#DIV/0!
#D!V/0!
#DIV/0!
#DIV/0!
0.0%
0.0%
F-2
Prior Year Adopted Revenue Schedule
Carteret Port Authority
FY 2018 Adopted Budget
Port Operation Total All
Authority #2 N/A N/A N/A N/A Operations
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
Other Non -Operating Revenues
Interest on Investments & Deposits
Interest Earned
Penalties
Other
Total Interest
Total Non -Operating Revenues
TOTAL ANTICIPATED REVENUES
$
500,000
500,000
500,000
500,000
500,000
$ 500,000 $
500,000
- $ - $ - $ - $ - $ 500,000
F-3
Appropriations Schedule
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
OPERATING APPROPRIATIONS
Administration - Personnel
Salary & Wages
Fringe Benefits
Total Administration - Personnel
Administration - Other (List)
General & Project Costs
Maintenance
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)
FY 2019 Proposed Budget
Operation
Port Authority #2
$ Increase % Increase
(Decrease) (Decrease)
FY 2018 Adopted Proposed vs. Proposed vs.
Budget Adopted Adopted
Total All
N/A N/A N/A N/A Operations Total All Operations All Operations All Operations
$ 4,000
2,000
6,000
$ 4,000 $ 4,000 $ 0.0%
2,000 1,000 1,000 100.0%
6,000 5,000 1,000 20.0%
Municipal Marina Operations - Other Expenses
Minature Golf Course - Other Expenses
Other
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
55,000
15,000
70,000
76,000
55,000
15,000
70,000
76,000
55,000
15,000
70,000
75,000 1,000
175,000
35,000
175,000
35,000
210,000
210,000
175,000
25,000
14,000
214,000
424,000
175,000
25,000
14,000
214,000
424,000
0.0%
0.0%
#DIV/0!
#DIV/0!
#DIV/0!
0.0%
1.3%
175,000 #DIV/01
35,000 #DIV/01
210,000 #DIV/0!
175,000 #DIV/0!
25,000 #DIV/0!
14,000 #DIV/0!
- #DIV/0!
#01V/0!
214,000 #DIV/0!
424,000 #DIV/0!
500,000
500,000
500,000
75,000 425,000
925,000
925,000
500,000 1,000,000
500,000
500,000 1,000,000
I I
500,000
500,000
500,000 $
$ 500,000 $
- $ 500,000 $
#DIV/01
566.7%
#DIV/0!
#DIV/0!
(925,000) -100.0%
- #DIV/01
- #DIV/01
(925,000) -100.0%
(500,000) -50.0%
- #DIV/01
(500,000) -50.0%
(500,000)
(500,000)
* 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 $ 25,000.00 $ - $
$ 25,000.00
#DIV/0!
-100.0%
-100.0%
0.0%
F-4
Prior Year Adopted Appropriations Schedule
Carteret Port Authority
FY 2018 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
Maintenance
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)
Type In Description
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
$ 4,000
1,000
5,000
5,000
55,000
15,000
70,000
55,000
15,000
70,000
75,000
75,000
75,000
75,000
925,000
925,000
925,000
1,000, 000
925,000
1,000,000
1,000,000
1,000,000
500,000
500,000
$ 500,000 $
500,000
- $ - $ - $ - $ - $ 500,000
* 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
Carteret Port Authority
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 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
Fiscal Year Ending in
Adopted Budget Proposed Budget Total Principal
Year 2018 Year 2019 2020 2021 2022 2023 2024 Thereafter Outstanding
Indicate the Authority's most recent bond rating and the year of the rating by ratings service.
Moody's Fitch Standard & Poors
Bond Rating
Year of Last Rating
F-6
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 #2
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
Adopted Budget
Year 2018
S
Carteret Port Authority
Fiscal Year Ending in
Proposed Budget
Year 2019
Total Interest
Payments
2020 2021 2022 2023 2024 Thereafter Outstanding
F4
Net Position Reconciliation
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
FY 2019 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)
UNRESTRICTED NET POSITION AVAILABLE FOR USE IN PROPOSED BUDGET
Unrestricted Net Position Utilized to Balance Proposed Budget
Unrestricted Net Position Utilized in Proposed Capital Budget
Appropriation to Municipality/County (3)
Total Unrestricted Net Position Utilized in Proposed Budget
PROJECTED UNRESTRICTED UNDESIGNATED NET POSITION AT END OF YEAR Last
issued Audit Report (4)
Port
Authority Operation #2 N/A N/A N/A N/A
$ 510,410
Total All
Operations
$ 510,410
510,410
510,410
925,000
13,069
500,000
925,000
13,069
500,000
98,479
98,479
$ 98,479 $
- $ 98,479
(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 $ 25,000 $ $ $ $ $ - $ 25,000
(4) If Authority is projecting a deficit for cm operation at the end of the budget period, the Authority must attach a statement explainina its plan to reduce the deficit, including the
timeline for elimination of the deficit, if not already detailed in the budget narrative section.
F-8
CARTERET PORT AUTHORITY
(Name)
2019 CERTIFICATION OF AUTHORITY CAPITAL
BUDGET/PROGRAM
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: JAN. 1, 2018 TO: DEC. 31, 2018
[ ] 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
[ X) It is hereby certified that the governing body of the Carteret Port 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):
n
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
rgardner@pkfod.com
Page CB -1
2019 CAPITAL BUDGET/PROGRAM MESSAGE
Carteret Port Authority
(Name)
FISCAL YEAR: FROM: Jan. 1, 2019 TO: Dec. 31, 2019
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?
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?
3. Has a long-term (10-20 years) infrastructure needs assessment or other capital plan with a horizon beyond six
years been prepared?
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.
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.
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.
Add additional sheets if necessary.
Page CB -2
Proposed Capital Budget
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
Funding Sources
Renewal &
Estimated Total Unrestricted Net Replacement Debt
Cost Position Utilized Reserve Authorization Capital Grants Other Sources
Port Authority
Type in Description
Type in Description
Type in Description
Type in Description
Total
Operation #2
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
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
Carteret Port Authority
For the Period January 1, 2019 to
December 31, 2019
Fiscal Year Beginning in
Estimated Total Current Budget Year
Cost 2019
2020
2021
2022
2023
2024
Port Authority
Type in Description
Type in Description
Type in Description
Type in Description
Total
Operation #2
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 $
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
Carteret Port Authority
For the Period January 1, 2019 to December 31, 2019
Funding Sources
Renewal &
Estimated Total Unrestricted Net Replacement Debt
Cost Position Utilized Reserve Authorization Capital Grants Other Sources
Port Authority
Type in Description
Type in Description
Type in Description
Type in Description
Tota I
Operation #2
Type in Description
Type in Description
Type in Description
Type in Description
Tota I
N/A
Type in Description
Type in Description
Type in Description
Type in Description
Tota I
N/A
Type in Description
Type in Description
Type in Description
Type in Description
Tota I
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
$
- 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