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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