TOWNSHIP OF HAZLET FIRE DISTRICT NO. 1 COUNTY OF MONMOUTH SYNOPSIS OF THE ANNUAL FINANCIAL REPORT FOR PUBLICATION

TOWNSHIP OF HAZLET FIRE DISTRICT NO. 1 COUNTY OF MONMOUTH SYNOPSIS OF THE ANNUAL FINANCIAL REPORT FOR PUBLICATION Attention is directed to the fact that a summary or synopsis of the Annual Financial Report, together withthe recommendations, is the minimum required to be published pursuant to N.J.S.A. 40A:5-7. Summary or Synopsis of the 2024 Annual Financial Report of the Township of Hazlet Fire District No. 1, County of Monmouth as required by N.J.S. 40A:5-7. STATEMENT OF NET POSITION December 31, 2024 ASSETS Cash $ 2,801,189.15 Prepaid Expenses 35,245.22 Restricted Assets: Cash 1,292,552.92 Capital Assets, Net 1,789,847.52 Total Assets 5,918,834.81 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 27,795.00 LIABILITIES Current Liabilities: Accounts Payable - Other 112,651.95 Accrued Interest Payable 5,265.53 Capital Lease Payable 84,306.54 Noncurrent Liabilities: Net Pension Liability 136,687.00 Capital Lease Payable 87,263.56 Total Liabilities 426,174.58 DEFERRED INFLOWS OF RESOURCES Related to Pensions 8,257.00 NET POSITION Net Investment in Capital Assets 1,618,277.42 Restricted for: NJAC 570 2-12 Expenditures 5,000.00 Capital Projects 1,287,552.92 Debt Service (Deficit) (5,265.53) Unrestricted Net Position 2,606,633.42 Total Net Position $ 5,512,198.23 TOWNSHIP OF HAZLET FIRE DISTRICT NO. 1 STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2024 Functions/programs GOVERNMENTAL ACTIVITIES Operating Appropriations: Administration $ (199,984.28) Cost of Providing Services (1,454,206.70) Fire Official (163,541.62) Debt Service: Interest on Lease (5,635.30) Total Governmental Activities (1,823,367.90) GENERAL REVENUES Property Taxes Levied for: General Purposes 1,841,432.00 Capital Expenditures 375,000.00 Debt Service 90,325.00 Fees and Penalties 163,541.62 Miscellaneous 17,100.00 Interest Income 85,763.41 Total General Revenues 2,573,162.03 Transfers: LOSAP (43,210.81) Change in Net Position 706,583.32 Net Position - Beginning 4,805,614.91 Net Position - Ending $ 5,512,198.23 RECOMMENDATIONS None. The above summary or synopsis was prepared from the report of audit of the Township of Hazlet FireDistrict No. 1, County of Monmouth for the calendar year 2024. This report of audit, submitted by Fallon & Company LLP, is on file at Hazlet Fire District No. 1 and may be inspected by any interested persons. Publication Dates LNYS0370245 $