HomeMy Public PortalAboutCAPA 2021 Adopted BudgetAuthority Budget of
CARTERET PORT AUTHORITY
State Filing Year
For the Period:
2021
January 1, 2021
APPROVE
to December 31, 2021
WWW.CARTERET.NET
Authority Web Address
NJ DEPARTMENT OF •
C ommunitAffairs
Division of Local Government Services
2021 (2021-2022) AUTHORITY BUDGET
Certification Section
2021 (2021-2022) AUTHORITY BUDGET
Certification Section
2021 (2021-2022)
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM January 1, 2021 TO December 31, 2021
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. 404:5A-11.
State of New Jersey
Department of Community Affairs
Director of the Division of Local Government Services
By:
Date: I -h Z�213
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
2021 (2021-2022) PREPARER'S CERTIFICATION
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM: January 1, 2021 TO:
December 31:
2021
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:
1fl4?" Jl€L44U4, !'.
164,04.4 s .
RONALD F. GARDNER, JR.
Name:
Title:
TREASURER
Address:
61 COOKE AVENUE, CARTERET, NJ 07008
Phone Number:
732.541.3802
Fax Number:
732.541.4989
E-mail address
RGARD5@AOL.COM
Page C-2
2021 (2021-2022) APPROVAL CERTIFICATION
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM: January 1, 2021 TO: December 31,
202`
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 27th day
of October , 2020.
It is further certified that the recorded vote appeari g in the resolution represents not less than a
majority of the full membership of the governing bodyjhereof.
Officer's Signature:
c
(*Yid'
Name:
CARMELA P 0 t, I
Title:
CLERK TO THE BOARD
Address:
61 COOKE AVENUE, CARTERET, NJ 07008
Phone Number:
732.541,3802
Fax Number:
732.541.4989
E-mail address
POGORZELSKIC@CARTERET»NET
Page C-3
INTERNET WEBSITE CERTIFICATION
Authority's Web Address:
W W W. 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
rT.J.S.A. 40A:5A-17.1.
• A description of the Authority's mission and responsibilities
❑ Budgets for the current fiscal year and irnrnediately preceding two prior years
E
The most recent Comprehensive Annual Financial Report (Unaudited) or similar financial
information (Similar Information is such as PIE Charts, Bar Graphs etc. for such items as
Revenues, Expenditures, and other information the Authority deems relevant to inform the
public)
The complete (All Pages) annual audits (Not the Audit Synopsis) 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
❑ The approved minutes of each meeting of the Authority including all resolutions of the board and
E
their conln ittees; 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 $17,5011 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 ofNI, S.A. 40A:5A-17.1 as listed above. A
check in each of the above boxes signifies compliance.
Name of Officer Certifying compliance CARNIELA POGORZELSKI
Title of Officer Certifying compliance CLERK TO THE BOAI0
Signature
Page C-4
Resolution of the Carteret Port Authority
C.A.P.A.
No. CAPA 20-09 Date of Adoption October 27, 2020
2021 BUDGET RESOLUTION
FISCAL YEAR: JANUARY 1, 2021 TO DECEMBER 31, 2021
WHEREAS, the Annual Budget and Capital Budget for the Carteret Port Authority for the fiscal year
beginning January 1, 2021 and ending, December 31, 2021 has been presented before the governing body
of the Carteret Port Authority at its open public meeting of October 27, 2020; and
WHEREAS, the schedule of rates, fees and other charges shown on Budget Page F-2 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 shown on. Budget Page F-4, all as may be required by law, regulation or
terms of contracts and agreements; and
WHEREAS, the Capital Budget/Program shown on Capital Budget Page CB -3, 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 October 27, 2020 that the Annual Budget, including related schedules, and
the Capital Budget/Program of the Carteret Port Authority for the fiscal year beginning, January 1, 2021
and, ending, December 31, 2021 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 RESOLVED, that the governing body of the Carteret Port Authority will consider
the Annual Budget and Capital Budget/Program for adoption on December 8, 2020.
Adopted this 27th day of October 27, 2020
HANK D'ORSI
Chairman
RECORD OF VOTE
Member
Yes No NV AB
Member Yes No NV AB
W. KASKIW
X
FL D'ORSI
X
J. CALIGLIARI
X
B. WATERS*
X
V. BELLINO
X
D. REIMAN
*Mayor's Alternate
X -Indicate Vote AB Absent
Resolution of the Carteret Port Authority
C.A,P.A.
No. CAPA 20-09 Date of Adoption October 27, 2020
2021 BUDGET RESOLUTION
FISCAL YEAR: JANUARY 1, 2021 TO DECEMBER 31, 2021
WHEREAS, the Annual Budget and Capital Budget for the Carteret Port Authority for the fiscal year
beginning January 1, 2021 and ending, December 31, 2021 has been presented before the governing body
of the Carteret Port Authority at its open public meeting of October 27, 2020; and
WHEREAS, the schedule of rates, fees and other charges shown on Budget Page F-2 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 shown on Budget Page F-4, all as may be required by law, regulation or
terms of contracts and agreements; and
WHEREAS, the Capital Budget/Program shown on Capital Budget Page CB -3, pursuant to N.J.A.C.
5:312, 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 October 27, 2020 that the Annual Budget, including related schedules, and
the Capital Budget/Program of the Carteret Port Authority for the fiscal year beginning, January 1, 2021
and, ending, December 31, 2021 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 RESOLVED, that the governing body of the Carteret Port Authority will consider
the Annual Budget and Capital Budget/Program for adoption on December 8, 2020.
Adopted th : 27th day of October 27, 2020
HA 1 K D'ORSI
Chairman
RECORD OF VOTE
Member
Yes No NVAB
Member Yes No NVAB
W. KASKIW
X
IL D'ORSI
X
I. CALIGUARI
X
B. WATERS*
X
V. BELLINO
X
D. REIMAN
*Mayor's Alternate
.X -Indicate Vote AB Absent
NV -Abstain
Clerlr/Secretary
2021 (2021-2022) AUTHORITY BUDGET RESOLUTION
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: Jan. 1.2021 TO: Dec. 31, 2021
WHEREAS, the Annual Budget and Capital Budget for the Carteret Port Authority for the fiscal year beginning, January 1,
2021 and ending, December 31, 2021 has been presented before the governing body of the Carteret Port Authority at its open
public meeting of October 27, 2020; and
WHEREAS, the schedule of rents, fees and other charges, shown on Budget Page F-2 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 shown on Budget Page
F4, all as may be required by law, regulation or terms of contracts and agreements; and
WHEREAS, the Capital Budget/Program shown on Capital Budget Page CB -3, 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 October 27, 2020 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, 2021 and ending, December 31, 2021 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 RESOLV : D, that the governing body of the Carteret Port Authority will consider the Annual Budget .and
Cat'tal Budget/Pro am for aa' option on December S, 2020.
(Secret$ry's Signat e
October 27, 2020
(Date)
Governing Body Recorded Vote
Member: Aye Nay Abstain Absent
Note Fill in the name of Each Commissioner and indicate their recorded Vote
AYES NEYS ABSENT
BELLINO
CALIGUARI
D'ORSI
KASKIW X
REIMAN
WATERS (ALT.)
x
)c
Page C-5
2021 (2021-2022) ADOPTION CERTIFICATION
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
FISCAL YEAR: FROM: JAN. 1, 2021 TO: DEC. 31, 2021
Note: This is tilled on for Adoption of the Budget Don't fill in for Introduction of the Budget
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 8th day of, December, 2020.
i
Officer's Signature: (4L(y1iE
Name:
4it--6
A- c
Carmela Pogorzelski L.,,
Title:
Board Secretary
Address:
61 Cooke Avenue, Carteret, NJ 07008
Phone Number:
732.541.3802
Fax Number:
732.541.4989
E-mail address
pogorzelskic(d carteret.net
Page C-6
BELLINO
CALIGUARI
D'ORSI
KASKIW
REIMAN
WATER (ALT.)
No. CAPA 20-12 Date of Adoption December 8, 2020
2021 (2021-2022) ADOPTED BUDGET RESOLUTION
This resolution is for Adoption of the Budget Only Don't use for introduction of the Budget
Note Fill in the name of Each Commissioner and indicate their recorded Vote
CARTERET PORT AUTHORITY
(Name)
AUTHORITY
FISCAL YEAR: FROM: JAN. 1, 2021 TO: DEC. 31, 2021
WHEREAS, the Annual Budget and Capital Budget/Program for the Carteret Port Authority for the fiscal year beginning
January 1, 2021 and ending, December 31, 2021 has been presented for adoption before the governing body of the Carteret
Port Authority at its open public meeting of December 8, 2020; 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 $ 700,00.00, Total Appropriations,
including any Accumulated Deficit, if any, of $ 700,000.00 and Total Unrestricted Net Position utilized of $ 650,000.00; and
WHEREAS, the Capital Budget as presented for adoption reflects Total Capital Appropriations of $ 2,750,000.00 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 8, 2020 that the Annual Budget and Capital Budget/Program of the Carteret Port Authority for the fiscal year
beginning, January 1, 2021 and, ending, December 31, 2021 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 appropriation in the same amount and title as set forth in the introduced and approved budget, including
all amendments thereto, if any, ' hich have been approved by the Director of the Division of Local Government Services.
(Secre'.ry's Signatup)
Governing Body
Member:
December 8, 2020
(Date)
Recorded Vote
Aye Nay Abstain Absent
Note Fill in the name of Each Commissioner and indicate their recorded Vote
AYES NEYS ABSENT
x
x
X
X
X
X
Page C-7
2021 (2021-2022) AUTHORITY BUDGET
Narrative and Information Section
AUTHORITY CONTACT INFORMATION
2021 (2021-2022)
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.)
732.541.3802 Fax:
732.541.4989
Preparer's Name:
RONALD F. GARDNER, JR.
Preparer's Address:
61 COOKE AVENUE
City, State, Zip:
CARTERET
NJ 07008
Phone: (ext.)
732.541.3802
Fax:
732.541.4989
E-mail:
RGARD5@AOL.COM
Chief Executive Officer:(1)
HANK D'ORSI, BOARD CHAIRMAN
(1)Or person who performs these functions under another Title
Phone: (ext.)
732.541.3802 Fax:
732.541.4989
E-mail:
POGORZELSKIC@CARTERET.NET
Chief Financial Officer(1)
RONALD F. GARDNER, JR., TREASURER
(1) Or person who performs these functions under another Title
Phone: (ext.)
732.541.3802 Fax:
732.541.4989
E-mail:
RGARD 5@AOL.COM
Name of Auditor:
ROBERT ALLISON
Name of Firm:
HFACPAS
Address:
194 E BERGEN PLACE
City, State, Zip:
RED BANK
NJ 07701
Phone: (ext.)
732.747.0010 Fax:
E-mail:
RALLISON@HFACPAS COM
Page N-2
AUTHORITY INFORMATIONAL QUESTIONNAIRE
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: JAN. 1, 2021 TO: Dec. 31, 2021
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 2019 or 2020) as
reported on the Authority's Form W-3, Transmittal of Wage and Tax Statements: 4
2) Provide the amount of total salaries and wages as reported on the Authority's Form W-3, (Use Most
Recent W-3 Available 2019 or 2020) Transmittal of Wage and Tax Statements: $19,785.03
3) Provide the number of regular voting members of the governing body: 5 (Even if not all
commissioners have been appointed (Total Commissioners are either 5 or 7 (Regional
Authorities may have more than 7 members) s per statute for your Authority)
4) Provide the number of alternate voting members of the governing body: 1 (Maximum is 2)
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. 2020 or 2021 deadline has passed 2020 or 2021) 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/dlgs/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
thereof} 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 individuals listed on Page N-4 (2 of 2). Review and
approval by Board.
Page N-3 (1 of 2)
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.
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? NIA 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? NIA If "no," attach a description of the Authority's plan to ensure
compliance with its Continuing Disclosure Agreements in the future. (If no bonded Debt answer is
Not Applicable). (New Jersey Infrastructure Trust Loans are not bonded debt of an Authority)
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)
(This page is directions for filling in page (N-4 (2 -of 2) (No answers should be entered on this page)
AUTHORITY SCHEDULE OF COMMISSIONERS, OFFICERS, KEY EMPLOYEES,
HIGHEST COMPENSATED EMPLOYEES AND INDEPENDENT CONTRACTORS
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: January 1, 2021 TO: Dec. 31. 2021
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 2019 or 2020. 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, 2021, the most recent W-2 and 1099
should be used 2020 or 2019 (60 days prior to start of budget year is November 1, 2020, with 2019 being
the most recent calendar year ended), and for fiscal years ending June 30, 2021, the calendar year 2020 W-
2 and 1099 should be used (60 days prior to start of budget year is May 1, 2021, with 2020 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 Commissioners, Officers, Key Employees, Highest Compensated Empl oyees and Indepe ndent Contractors (Continued)
CARTERET PORT AUTHORITY
For th e Peri od January 1, 2021 to Decemb er 31, 2021
t'd�i:!f'-1;'r,� 'Ini] R .., '3';" -.r, �1ir o Ix[^ `K9,= � -: E .P'. •r;' 1"i, [, ,.i��. ...,.,,yr„ > xr+ryr:• r
r:i. �i � � �.D° iu.r . E ..� I .il!;itr .:� . I -f" �`�"i� i {. ,T•- ,'3 ; �i ; .,;, r, r r
i; ,' •r �, iH'���i'`� Vii€ rr= e r. a,. „ ,�, �, ,!. i :i +€::,•
k 1 . , ,,. _ ... 1.€.,, ,., '.I , .,,_ , ..,i,...i:' ,. � _ � r 1 �: ,� �t ,li : E h. L ! i'C! ; � ,.i„ ..�, "hic e Ez ::I`.,
3 z „'�i ea , .�� : r. n. Check
. .itE,.fJflli�t�iLa� .ill., ..:.i�J�i..r.,LEJ;..., ...I °I;�:�, 11a ;:, ..,.., .� .....<<.. [ F3'= .: •'R is , �,, .:,- - €-€
• , .•r ,: , �_ .,. , .R e -, . 4 •'` `.0 .vo ,, r, a .. -at., J���, u,::�r;:;,,:.f.,i,.,ii� ` ...,R�.:El.: .i ._[.i.,.J=,•a-+, , .-:�,.1,.,1a - .,w , ,.F..-.1 r..=� ..ru.v. .i[�l(ii ll[ii1J .,i, �,�f�.. u�,,-..„l ea:
Position (Ca rt Chemore
than 1 Column far each Report able Compens atio n from Auth ority (W -
person) 2/ 1099)
Name Title
1 Hon. Daniel J. Reiman Board Member
2 Vincent Bellino Board Member
3 Joseph Caliguari Board Member
4 Hank D'Orsi Board Member
5 Wesley Kaskiw Boa rd Member
6 Benny Waters Boa rd A lterna te
7
s
9
10
11
12
13
14
15
Aver ag e Hours
per We ek
Dedicated to
Position
5X
5X
5X
5X
5 X
5x
Base Salary/
Stip end
Other{aut o
all owance,
exp ense
account,
payment in
lieu of health
Bonus b enefrts, etc .)
0
0
0
0
Estimated
amount of ether
compensation
fr om the
Authority
(health benefits ,
pension, etc.)
- $
O 0
O 0
O 0
O 0
O 0
Total
Comp ensation
from Auth ority
Names of Other
Public E ntities where
I ndivid ual is an
Empl oyee or Member Positions held Positions at
of th e Governing at Other Public Other Public
Body (1) See note Entities Listed in Entries Listed
below Colum n 0 in Colum n 0
Average
Hours per
Week
Dedicated to
Bor o Ca
0 No ne
0 Non e
0 None
0 No ne
0 Non e
a
0
0
0
0
❑
0
eret
Mayor
Reportabl e
Compe nsation
from Oth er
Public Entities
(W-2/ 1089)
Estimated amount
of other
compensation from
Other Public Entities
(health be nefits,
pensi on, payment in
lieu of he alth
ben efit s, etc}
118,114 $
rEE
Total
Compensation
All Public
Entities
12,335 $ 130,450
0
0
0
0
0
0
0
0
0
0
0
0
0
0
12,336 $ 130,450
Total:
$
—$
— S
— $
$ 118,114 $
(1) Insert "Non e" in this col umn for e ach i ndividual th at d oes not hold a positi on with another Public Entity
Page N-4 (2 of 2)
Schedule of Health Benefits - Detailed Cost Analysis
If Not Applicable X this b ox Below
X
Active Employees - Health Benefits -Ann ual Cost
Single Cov erage
Parent & Child
Employee & Spouse (or Partner)
Family
Employee Cost Sharing Contribution (enter as negativ e - )
Subtotal
Co mmissioners - Health Benefits - Annual Cost
Single Coverage
Parent & Child
Employee & Spouse (or Partner)
Family
Employee Cost Sharing Contribution (enter as negativ e - )
Subto tal
Re tire es - Health Be nefits - 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, 2021 to December 31, 2021
# of Covered
Members
(M edical & R x)
Prop osed Budget
Annual Cost
Estimate per Total Cost # of Cover ed
Empl oyee Estimate Memb ers Annual Cost
Propos ed Pr oposed (Medical & Rx) p er Employe e T otal Prior $ Increase
Budget Budget Current Year Curr ent Year year Year Cost (D ecrease)
11111111111111111E1
1111$ 111111111111111111'1
1!1'111!1
0111;1111
r�l��i�'��•I
11'101 i1��,'9 ,
il;,,;,1,1t1111k1.1
I' iliiifomfit romisTri
01Ill!I
,,llllililllill�I
111l;1}Iln
il�: is [Hitt.
€ltd;
111111111111,1111111111i1111111111 11111111111
0
1i1C1111E1iIlll E
111111ar
0!,111
!;!�jilisl''iltlC I�.
11111111 I,,i�11:1111111111
11111111111111111,
GRAND TO TA L
0
Is medical cov erage provide d by the SHBP (Yes or No)? (Place Answer in Box)
Is prescription dru g cov erage provided by the SHBP (Yes or No)? (Place Answer in Box)
Note: Remember to Enter an a mount in ro ws fo r Employee Cost Sharin g
0
Yes or No
Yes or No
% Increase
(Decrease)
#D!V/0!
#DIV/0!
#D!V/0!
#D!V/0!
#DIV/0!
#DIV/0!
#D[V/0!
#DIV/0i
#DIV/0!
#DIV/0!
#DIV/0!
#DlV/ol
#DIV/0!
#DIV/0!
#DIV/0l
#DIV/0l
#DIV/0l
#DIV/0l
#DIV/01
Page N-5
Schedule of Accumulated Liability for Compensated Absences
C ARTERET PORT AUTHORITY
For the Period January 1, 2021 to December 31, 2021
Complete the below table for the Authority's accrued liability for compens at ed absenc es.
X Box if Authority has no Comp ensated Abcences
X
L eg al B asis for Benefit
(check applicable items)
Dollar Value of
Gross Days of Accumulated Accrued
Compensated Absences at End Comp ensat ed
Individu als Eligible fo r Benefit of Last Issued Audit Rep ort Absence Liability
Approved
Labor
Agreement
Resolution
Individual
Employment
Agreement
Total liability fo r a ccumu late d co mpensated absences at beginning of cu rrent year
$
The total Amount Should agree to most recently issued audit report for the Authority
Page N-6
Schedule of Shared Service Agreements
CARTERET PORT AUTH ORITY
For the Period
If No Shared Services X this B ox
Enter the sha red service agreements th at the Auth ority curre ntly engages in and ide ntify the amou nt that is r ec ei ved/paid for those services.
r
X
January 1, 2021 to
Name of Entity Providing Service
Name of Entity Recei ving Service Type of Shared Service Provided
December 31, 2021
Agr eeme nt
Comme nts (Enter more specifics if Effective
Date
needed)
Agreement
End Date
Amount to be
Received by/
Paid from
Authority
Page N-7
2021 (2021-2022) AUTHORITY BUDGET MESSAGE &
ANALYSIS
CARTERET PORT AUTHORITY
(Name)
AUTHORITY BUDGET
December 31,
FISCAL YEAR: FROM: January 1, 2021 TO: 2021
Answer all questions below. Attach additional pages and schedules as needed.
1. Complete a brief statement on the 2021/2021-2022 proposed Annual Budget and make comparison to
the 2020/2020-2021 adopted budget for each Revenues and Appropriations. Explain any variances over
+1-10% (As shown on budget pages F-2 and F-4 explain the reason for changes for each revenue and
appropriation changing more than 10%) for each individual revenue and appropriation line item.
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. The
main impact of the proposes CY 2021 Budget is the Capital Budget Plan which anticipates the
Authority continuing its Waterfront development, through an expanded walkway and events
center.
2. Describe the state of the local/regional economy and how it may impact the proposed Annual Budget,
including the planned Capital Budget/Program. (Example Consider New Development projects such
as Housing /Commercial projects impact on the Authorities expenses or revenues). The proposed
Capital Improvement Plan will have a positive for Waterfront, as well as the entire community of
Carteret.
3. Describe the reasons for utilizing Unrestricted Net Position in the proposed Annual Budget and or
Capital 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 Authority has
been planning on utilizing these funds as part of its on -going capital improvement program.
4. Identify any sources of funds transferred to the County/Municipality as a budget subsidy or a shared
service payments, pilot payments, or other types of contracts or agreements (Example to provide police
services to the Authority etc. and explain the reason for the transfer (i.e.: to balance the
County/Municipality budget, etc.). None.
5. The proposed budget must not reflect an anticipated deficit from 2021/2021-2022 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. N/A.
(Prepare a response to deficits in most recent audit report pertaining to Deficits to Unrestricted Net
Position caused by recording Pension and Post -Employment Benefits liabilities as required by
GASB 68 and GASB 75) and similar types of deficits in the audit report. How would these deficits
be funded? N/A.
6. 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. (If no changes to fees
or rates indicate (Answer as "Rates Are Staying the Same") Rates remain the same, if applicable.
Page N-1
AUTHORITY CONTACT INFORMATION
2021 (2021-2022)
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.)
732.541.3802 Fax:
732.541.4989
Preparer's Name:
RONALD F. GARDNER, JR.
Preparer's Address:
61 COOKE AVENUE
City, State, Zip:
CARTERET
NJ 07008
Phone: (ext.)
732.541.3802
Fax:
732.541.4989
E-mail:
RGARD5 @AOL. COM
Chief Executive Officer:(1)
HANK D'ORSI, BOARD CHAIRMAN
(1)Or person who performs these functions under another Title
Phone: (ext.)
732.541.3802 Fax:
732.541.4989
E-mail:
POGORZELSKIC@CARTERET.NET
Chief Financial Officer(1)
RONALD F. GARDNER, JR., TREASURER
(1) Or person who performs these functions under another Title
Phone: (ext.)
732,541,3802 Fax:
732.541.4989
E-mail:
RGARD @AOL.COM
Name of Auditor:
ROBERT ALLISON
Name of Firm:
HFACPAS
Address:
194 E BERGEN PLACE
City, State, Zip:
RED BANK
NJ 07701
Phone: (ext.)
732.747.0010 Fax:
E-mail:
RALLISON@HFACPAS COM
Page N-2
2021 (2021-2022) AUTHORITY BUDGET
Financial Schedules Section
SUMMARY
For the Period
C ARTERET P ORT AUTHORITY
Ja nuary 1, 2021 to December 31, 2021
% Incr ease
(Decrease)
FY 2020 Ad opted $ Incre ase (Decrease) Pr oposed vs.
FY 2021 Proposed Budget Budg et Prop osed vs. Adopted Adopted
Op erati on T otal All Total All
PORT AUTHORITY #2 N/ A N/A N/A N/A Operations Operations All Op eratio ns All Operatio ns
REVENUES
Total Operating Revenues $ 200,000 $ - $ - $ - $ $ - $ 200,000 $ $ 200,000 8DIV/0!
Total Non -Operating Revenues 500,000 - - 500,000 500,000 0.0 %
Total Anticipated Revenues 700,000 - - - 700,000 500,000 200,000 40.0 %
APPROPRIATIO NS
Total Administration 52,500 - - - - 52,500 110,000 (57,500) -52.3%
Total Cost of Prov iding Services 47,500 - - - - 47,500 390,000 (342,500) -87.8%
Total Principal Payments on Debt Service in
Lieu of Depreciatio n - - - - - - - - #DIV/D!
Total Operating A ppropriations 100,000 - - - - 100,000 500,000 (400,000) -80.0 %
Total Interest Payments on Debt - - - - - - - - #DIV/0!
Total Other Non -Operating Appropriations 1,250,000 - - - - 1,250 ,000 1,500,000 (250,000) -16.7%
Total Non -Operating Appropriations 1,250,000 - - 1,250,000 1,500,000 (250,000) -16.7%
Accumulated Deficit - - - - - #DI V/0!
To tal Appropriations and Accumu lated
Deficit 1,350,000 - - - - 1,350,000 2,000,000 (650,000) -32.5 %
Less: Total Unrestricted Net Po sition Utilized 650,000 - - - - 650,000 1,500,000 (850,000) -56.7 %
Ne t Total Appropriatio ns 700,000 - - - - 700,000 500,000 200,000 40 .0%
ANTICIPATED SURPLUS (DEFICIT) $ - $ $ - $ - $ - $ - $ - $ - $ - #DIV/Ol
F-1
Revenue Schedule
CARTERET PORT AUTHORITY
For the Period January 1, 2021 to December 31, 2021
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)
FY 2021 Proposed Budget
PORT
$ Increase % Increase
(Decrease) (Decrease)
FY2020 Adopted 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
$
Rental Agreement
Rental of Boat Slips
Other Miscellaneous
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)
100,000
75,000
25,000
200,000
200,000
100,000
75,000
25,000
200,000
200,000
Local Subsidy - Born of Carteret
Type In
Type in
Type in
Type in
Type in
500,000
$ $
500,000 500,000
Total Other Non -Operating Revenue
Interest on investments & Deposits (List)
interest Earned
Penalties
Other
Total Interest
Total Non -Operating Revenues
TOTAL ANTICIPATED REVENUES
500,000
500,000 500,000
500,000
700,000 $
500,000 500,000
700,000 $ 500,000 $ 200,000
S
$
S
- $ -
-
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/0!
#DIV/ol
#DIV/0l
100,000 #DIV/ol
75,000 #DIV/01
25,000 #DIV/01
#DIV/01
#DIV/01
#DIV/01
#DIV/01
#0IV/01
#DIV/Dl
#DIV/0!
#DIV/0!
200,000 #DIV/0!
260,000 #D1V/0!
0.0%
#DIV/01
#DIV/01
maiv/01
#DIV/01
#6!V/01
0.0%
#01V/01
#Div/01
#DIV/01
#DIV/01
0.0%
40.0%
F-2
Prior Year Adopted Revenue Schedule
CARTERET PORT AUTHORITY
FY 2020 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 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
Operation
Total All
PORT AUTHORITY 112 N/A N/A N/A N/A Operations
500,000
500,000
500,000
500,000
500,000
500,000
$ 500,000 $ - $
$ - $ - $ 500,000
F-3
Appropriations Schedule
For the Period
OPERATING APPROPRIATIONS
Administration - Personnel
Salary & Wages
Fringe Benefits
Total Administration - Personnel
Administration - Other (List)
Professional Serviecs
Waterfront Maintenance
Miscellaneous Other
Type in Description
Miscellaneous Administration*
Total Administration - Other
Total Administration
Cost of Providing SerWces - Personnel
Salary & Wages
Fringe Benefits
Total COPS - Personnel
Cost of Providing Services - Other (List)
Marina Operations
Miniature Golf Course Operations
Miscellaneous Other
Type in Description
CARTERET PORT AUTHORITY
January 1, 2021 to December 31, 2021
FY2021 Proposed Budget
Operation
$ Increase %increase
(Decrease) (Decrease)
PY2020Adopted Proposed vs, Proposed vs.
Budget Adopted Adopted
Total All Total All
PORT AUTHORITY #2 N/A N/A N/A N/A Operations Operations All Operations All Operations
$ 5,000
2,500
$ 5,000 $ 5,000 $ 0.0%
2,500 2,500 0.0%
7,500 7,500 0.0%
7,500
15,000
25,000
5,000
15,000 75,000
25,000 25,000
5,000 2,500
45,000
52,500
45,000 102,500
52,500 110,000
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
TOTALAPPROPRIATIONS & ACCUMULATED
DEFICIT
UNRESTRICTED NET POSITION UTILIZED
Municipality/County Appropriation
Other
Total Unrestricted Net Position Utilized
TOTAL NET APPROPRIATIONS
35,000
5,000
7,500
35,000
5,000
7,500
(60,000) -80.0%
0.0%
2,500 100.0%
#OIV/0l
#DIV/01
{57,500) -56.1%
{57,500) -52,3%
150,000 (150,000) -100.0%
20,000 (20,000) -100.0%
170,000 (170,000) -100.0%
200,000 (165,000) -82.5%
15,000 (10,000) -66,7%
5,000 2,500 50.0%
- #DIV/01
#DIV/01
220,000 (172,500) -78.4%
390,000 (342,500) -87.8%
47,500
47,500
47,500
47,500
100,000
100,000
1,250,000
#DIV/01
500,000 (400,000) -80.0%
#DIV/oi
#DIV/01
1,250,000 1,500,000 (250,000) -16,7%
#DIV/01
#DIV/01
1,250,000 1,250,000 1,500,000 (250,000) -16.7%
1,350,000
1,350,000 2,000,000 (650,000) -32.5%
- #DIV/01
1,350,000 - 1,350,000 2,000,000 (650,000) -32.5%
650,000
650,000
700,000 $
- $ - $ - $ - $
#DIV/01
650,000 1,500,000 (850,000) -56.7%
650,000 1,500,000 (850,000) -56.7%
- $ 700,000 $ 500,000 $ 200,000 40.0%
' 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 $ 5,000.00 $ - $ • $ - $ - $ - $ 5,000.00
F-4
Prior Year Adopted Appropriations Schedule
CARTERET PORT AUTHORITY
FY 2020 Adopted Budget
OPERATING APPROPRIATIONS
Administration - Personnel
Salary & Wages
Fringe Benefits
Total Administration - Personnel
Administration - Other (List)
PORT Operation
Total All
AUTHORITY #2 N/A N/A N/A N/A Operations
$ 5,000
2,500
$ 5,000
2,500
7,500
7,500
Type In Description
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)
75,000
25,000
2,500
75,000
25,000
2,500
102,500
102,500
110,000
110,000
150,000
20,000
150,000
20,000
170,000
170,000
Municipal Marina
Minature Golf Course
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
200,000
15,000
5,000
200,000
15,000
5,000
220,000
220,000
390,000
390,000
500,000
500,000
1,500,000
1,500,000
1,500,000
2,000,000
- 1,500,000
2,000,000
2,000,000
- 2,000,000
1,500,000
1,500,000
$ 500,000 $
1,500,000
1,500,000
- $ - $ 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
F-5
Debt Service Schedule - Principal
CARTERET PORT AUTHORITY
If A uthority has no d ebt X this box
PORT AUTHORITY
Type in Issue Name
Type in Issue Name
Type in Issue Name
Type in Issue Name
Total Principal
Opera tion #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
X
Fisc al Ye ar E ndi ng in
Prop os ed
Adopted Budget Budget Ye ar
Y ear 2020 2021
Total Principal
2022 2023 2024 2025 2026 Thereafter Outsta ndi ng
TOTA L PRINCIPA L ALL OPERATIONS $ - $ $ -
$ _ $
In dica te the Authority's most recent bond rating and the year of the ra tin g by ra tin gs service.
Moody's Fitch Standard & Poors
Bond Rating
Year of Last Rating
F-6
Debt Ser vice Schedule - I nt er est
CARTERET PORT AUTHORITY
If Authority has no debt X this bo x
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
TOTA L INTEREST ALL OPERATIONS
X
Fiscal Year Ending in
Pr oposed
Adopted Budget Budget Year
Y ear 2020 2021
Total Int erest
Paym ents
2022 2023 2024 2025 2026 Thereafter Outstanding
$
$ $ - $ $ - $ - $ - $ - $
F-7
Net Position Reconciliation
CARTERET PORT AUTHORITY
For the Period January 1, 2021 to December 31, 2021
FY 2021 Proposed Budget
TOTAL NET POSITION BEGINNING OF LATEST AUDIT REPORT YEAR(1)
Less: Invested in Capital Assets, Net of Related Debt (1)
Less: Restricted fo r 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 De signated 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 Repo rt (4)
P ORT
Total All
AUTHORITY Operati on #2 N/ A N/A N/A N/A Operations
1,524,543
1,500,000
10,151
650,000
684,694
650,000
1,524 ,543
1,500,000
650,000
684,694
650,000
650,000
650,000
$ 34,694 $
- $ - $ $ - $ - $ 34,694
(1) Total of all operations for this line item must a gree to audited financial statements.
(2) Include budgeted and unbu dgeted u se of unre stricted n et po sition in the current yea r's operations.
(3) Amou nt ma y not ex ceed 5% of total operatin g appropriations. See calculation below.
Maximum Allowable Appropriatio n to Municipality/County $ 6,250 $ - $ - $ - $ - $ - $ 6,250
(4) If Au thority is projecting a deficit for any o peratio n at the e nd of the budget period, the Au thority must attach a statement e xplai ning its plan to r educe th e deficit, i ncl uding
the timeline for elimina tion of the deficit, if not already detailed in the budget na rrative section.
F-8
2021 (2021-2022)
CARTERET PORT AUTHORITY
(Name)
AUTHORITY
CAPITAL
BUDGET/
PROGRAM
2021 CERTIFICATION OF AUTHORITY CAPITAL
BUDGET/PROGRAM
CARTERET PORT AUTHORITY
(Name)
FISCAL YEAR: FROM: January 1, 2021 TO: Dec. 31, 2021
[ X ] enter X to the left if this paragraph is applicable
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 27th day of October, 2020.
OR
[ ] enter X to the left if this paragraph is applicable
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:
oittikeovii.
Aldo r ,t.
Name:
RONALD F. GARDNER, JR.
Title:
TREASURER
Address:
61 COOKE AVENUE, CARTERET, NJ 07008
Phone Number:
732.541.3802
Fax Number:
732.541.4989
E-mail address
RGARD5@AOL.COM
Page CB -1
2021 (2021-2022) CAPITAL BUDGET/PROGRAM MESSAGE
CARTERET PORT Authority
(Name)
FISCAL YEAR: FROM: January 1.2021 TO: Dec. 31, 2021
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 (This
may include the governing body or certain officials such as planning boards, Construction Code Officials) as
to these Projects? Yes, Borough of Carteret.
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, Waterfront Development Capital Plan.
3. Has a long-term (5 years or more) infrastructure needs and other capital items (Vehicles, Equipment) needs
assessment been prepared? Yes.
4. If amounts are on Page CB -3 in the column Debt Authorizations. Indicate the primary source of
funding the debt service for the Debt Authorizations (Example Rate Increases Funding or Other
sources) N/A.
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, 2021 to
December 31, 2021
Funding Sources
Renewal &
Estimated Total Unrestricted Net Replacement Debt Other
Cost Position Utilized Reserve Authorization Capital Grants Sources
PORT AUTHORITY
Waterfront Improvement Program
Type in Description
Type in Description
Type in Description
$ 2,750,000
Total
Operation #2
2,750,000
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 $ 2,750,000
$ 2,750,000
2,750,000
$
- $ 2,750,000 $
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
CARTERET PORT AUTHORITY
For the Period January 1, 2021 to
December 31, 2021
Fiscal Year Beginning in
Estimated Total Current Budget
Cost Year 2021
PORT AUTHORITY
Waterfront Improvement Program $ 2,750,000
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
2022
2023
2024
2025
2026
$ 2,750,000
2,750,000 2,750,000
$ 2,750,000 $
$
$ 2,750,000
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
CARTERET PORT AUTHORITY
For the Period January 1, 2021 to December 31, 2021
Funding Sources
Renewal &
Estimated Total Unrestricted Net Replacement Debt
Cost Position Utilized Reserve Authorization Capital Grants Other Sources
PORT AUTHORITY
Waterfront Improvement Program
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
Total 5 Year Plan per CB -4
Balance check
$ 2,756,000
2,750,000
$ 2,750,000
$ 2,750,000
$ 2,750,000
2,750,000
$
- $ 2,750,000 $
- 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