Capital & Trust Fund

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Author:
bltaft13
ID:
296221
Filename:
Capital & Trust Fund
Updated:
2015-02-18 15:48:39
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Capital
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CAPITAL & TRUST
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  1. ADDITIONS TO PLANT, LONG-RANGE REPLACEMENTS AND MAJOR RENOVATIONS
    **CAPITAL IMPROVEMENTS
  2. A CAPITAL IMPROVEMENT THAT HAS BEEN OFFICIALLY AUTHORIZED VIA AN ADOPTED CAPITAL ORDINANCE
    **IMPROVEMENT AUTHORIZATION
  3. THE FUND IN WHICH APITAL IMPROVEMENTS ACCACIATED WITH A MUNICIPALITY'S UTILITY ARE ACCOUNTED FOR
    **UTILITY CAPITAL FUND
  4. THE MEANS BY WHICH CAPITAL IMPROVEMENTS ARE INITIATED OR AUTHORIZED
    **CAPITAL ORDINANCE
  5. EXPLAIN THE DIFFERENCE BETWEEN A LOCAL IPROVEMENT AND A GENERAL CAPITAL IMPROVEMENT
    **A LOCAL IMPROVEMENT IS FOR A CERTAIN SECTION OF TOWN, GENERAL CAPITAL IMPROVEMENT IS FOR THE ENTIRE TOWN
  6. WHICH SET OF NJ STATUTES GOVERN THE ACTIVITIES OF THE GENERAL CAPITAL FUND
    **40A:2-1, ET.SEQ. LOCAL BOND LAW
  7. NOT EXPENDITURE MAY BE MADE FOR A CAPITAL PROJECT UNLESS THE PROJECT IS FIRST AUTHORIZED BY
    **CAPITAL ORDINANCE
  8. THE REQUIRED/MINIMUM DOWN PAYMENT ON A BOND ORDINANCE IS _____% OF _________  __________
    **5% OF DEBT AUTHORIZED
  9. OUTSTANDING DEBT IS CARRIED ON THE _____   _______ FUND BALANCE SHEET AS A/AN _________.  DEBT PRINCIPAL PAYMENTS ARE MADE BY THE ____________FUND IN THE
    ______  ________ SECTION OF THE ANNUAL BUDGET
    • GENERAL CAPITAL         
    • LIABILITY
    • CURRENT
    • DEBIT SERVICE
  10. SERIAL BONDS ARE CONSIDERED _________FINANCING
    **PERMANENT
  11. GREEN ACRES LOANS ARE CONSIDERED _______ FINANCING
    **PERMANENT
  12. BOND ANTICIPATION NOTES ARE CONSIDERED _______FINANCING
    **TEMPORARY
  13. IS TEMPORARY FINANCING FUNDED OR UNFUNDED
    **UNFUNDED
  14. IS PERMANENT FINANCING FUNDED OR UNFUNDED
    **FUNDED
  15. CALCULATE THE MINIMUM DOWN PAYMENT REQUIRED FOR AN $850,000 IMPROVEMENT FOR THE RECONSTRUCTION OF VARIOUS ROADS:
    850,000/1.05=809,523.81     (MAX AUTHORIZED DEBT)

    809,523.81 X 5%=40,476.20
  16. WHAT IS THE MINIMUM DOWN PAYMENT FOR A TAX APPEAL REFUNDING BOND ORDINANCE IN THE AMOUNT OF $425,000
    **0
  17. BOND PAYABLE
    **LIABILITY
  18. CAPITAL ORDINANCE
    **NEITHER
  19. CASH
    **ASSET
  20. CAPITAL IMPROVEMENT FUND
    **LIABILITY
  21. FUND BALANCE
    **LIABILITY
  22. RESERVE FOR PRELIMINARY EXPENSES
    **LIABILITY
  23. IMPROVEMENT AUTHORIZATIONS
    **LIABILITY
  24. PRELIMINARY EXPENSE RESERVES MUS BE ESTABLISHEED BY
    **RESOLUTION
  25. RESERVES FOR SPECIFIC PROJECTS
    • **RESERVES ON THE GENERAL CAPITAL FUND BALANCE SHEET EARMARKED TO FUND SPECIFIC PROJECTS
    • **FUNDED FOR CURRENT FUND APPROPRIATION
  26. CAPITAL FUND BALANCE
    • **COMMONLY REFERRED TO AS CAPITAL SURPLUS
    • **CAN BE USED TO FULLY FUND A CAPITAL ORDINANCE
    • **CAN BE ANTICIPATED AS REVENUE IN THE CURRENT FUND BUDGET (TO OFFSET DEBT SERVICE COSTS)
    • **INCREASED BY CANCELING FULLY FUNDED IMPROVEMENT AUTHROIZATIONS
    • **CANNOT BE USED FOR THE REQUIRED DOWN PAYMENT FOR A BOND ORDINANCE
  27. TWO MOST COMMON FORMS OF DEBT
    • **BOND ANTICIPATON NOTES (TEMPORARY) 1 YEAR
    • **BONDS (PERMANENT) 20 YEARS
  28. TEMPORARY DEBT
    **NO SET AMORTIZATION SCHEDULE ASSOCIATED WITH IT.  SHORTER-TERM DEBT. MUST EVENTUALLY BE CONVERTED INTO PERMANENT FINANCING
  29. PERMANENT DEBT
    **BONDS, LOANS.  HAS AN AMORTIZATION SCHEDULE THAT, FOR THE MOST PART, WILL NOT CHANGE.  SET RATE, SET PAYMENTS
  30. TWO MAIN TYPES OF CAPITAL ORDINANCES
    • **BOND ORDINANCE: DEBT IS BEING AUTHORIZED
    • **FULLY FUNDED CAPTIAL ORDINANCE: FULLY FUNDED FORM FUNDS ON HAND-NOT AUTHORIZING DEBT
  31. FULLY FUNDED ORDINANCE
    • **ADOPTED IN THE MANNER OF ANY REGULAR ORDINANCE
    • **PUBLISHED
    • **TAKES EFFECT 10 DAYS AFTER ADOPTED ORDINANCE IS PUBLISHED
    • **REQUIRED COMPONENTS- PURPOSE, SOURCE, AMOUNT AND STATEMENT THAT IT COULD BE FUNDED BY BONDS IF IT WERE NOT BEING FULLY FUNDED WITH FUNDS ON HAND
  32. BOND ORDINANCE
    • **VOTING: INTRO -MAJORITY   ADOPTION-2/3 FULL MEMBERSHIP
    • **TAKES EFFECT 20 DAYS AFTER ADOPTED ORDINANCE IS PUBLISHED (20 DAY ESTOPPEL PERIOD
    • **HEARING-MUST BE AT LEAST 10 DAYS AFTER INTRODUCTION-PUBLICATION OF HEARING AT LEAST ONE WEEK PRIOR TO DATE OF HEARING
  33. REQUIRED CONTENTS OF A BOND ORDINANCE
    • **PURPOSE
    • **TOTAL COST
    • **MAXIMUM AMOUNT OF BONDS OR NOTES AUTHORIZED
    • **PERIOD OF USEFULNESS
    • **SUPPLEMENTAL DEBT STATEMENT

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