Summary of synopsis of 2025 audit report of the Township of South Brunswick

          
          

   Combined Comparative Balance Sheets

          
          

Assets

      

December 31, 2025

 

December 31, 2024

          

Cash and Cash Equivalents

    

 $           71,646,790

 

 $           61,209,034

Receivables from Federal and State Government

  

                9,406,260

 

              10,265,177

Other accounts receivable

    

                     40,180

 

                1,863,339

Taxes, Assessment, Utility Charges and Liens Receivable

 

                4,894,947

 

                3,733,424

Property Acquired for Taxes at Assessed Value

  

                   771,640

 

                   771,640

Fixed Capital

     

            185,281,122

 

            183,731,122

Deferred Charges to future taxation

   

              80,721,389

 

              79,427,679

Fixed Assets

     

            158,157,186

 

            158,157,186

Interfund Loans

     

                7,893,496

 

                6,146,398

          

Total Assets

     

 $         518,813,010

 

 $         505,304,999

          

Liabilities, Reserves, and Fund Balance

     
          

Serial Bonds, Loans, and Notes Payable

  

 $         109,048,667

 

 $         106,605,747

Improvement Authorizations

    

              31,446,874

 

              29,568,788

Accounts Payable, Other Liabilities and Special Funds

 

              21,071,900

 

              29,252,917

Reserves for Certain Receivables, Appropriation Reserves,

    
 

Amortization and Other Assets

  

            177,755,077

 

            167,090,204

Investment in Fixed Assets

    

            158,157,186

 

            158,157,186

Interfund Loans

     

                7,893,496

 

                6,146,398

Fund Balances

     

              13,439,810

 

                8,483,759

          

Total Liabilities, Reserves, and Fund Balance

  

 $         518,813,010

 

 $         505,304,999

Summary of 2025 audit report of the Township of South Brunswick

as required by N.J.S. 40A:5-7

Recommendations

December 31, 2025

We suggest the following:

The Township strengthen controls over the monitoring and reconciliation of payroll agency accounts, budgetary appropriations, reserves, grants and improvement authorizations to identify and address potential overexpenditures prior to the processing of a transaction that would result in spending above authorized amounts.

Procedures be implemented to reconcile the subsidiary ledgers with the general ledger on a monthly basis and review old grant receivable and reserves for collections, spending or cancelling balances.

All interfund balances be liquidated prior to year end.

Purchase orders be prepared and approved, and the related funds encumbered, prior to ordering goods or authorizing services.

The Township review departmental cash handling procedures and clarify responsibility for each assigned change fund. Department personnel should be informed of the fund’s existence and purpose, and change funds should be counted periodically and reconciled to their authorized amounts. Management should also review departmental “exact change only” practices for consistency with Township policy and the availability of assigned change funds.

The above summary was prepared from the report of audit of the Township of South Brunswick for the year ended December 31, 2025.  This report of audit, submitted by Scott A. Clelland., Registered Municipal Accountant, representing PKF O’Connor Davies, LLP, is on file at the Township Clerk’s Office and may be inspected by any interested person.

Barbara Nyitrai

Township Clerk

Date of First Publication: 10/22/2026
Date of Last Publication: 10/29/2026
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