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Hazlet Fire District #1 >
2025 Audit Synopsis
2025 Audit Synopsis
Oct 19, 2026 -- TOWNSHIP OF HAZLET FIRE DISTRICT NO. 1 COUNTY OF MONMOUTHSYNOPSIS OF THE ANNUAL FINANCIAL REPORT FOR PUBLICATION
Attention is directed to the fact that a summary or synopsis of the Annual Financial Report, together with the recommendations, is the minimum required to be published pursuant to N.J.S.A. 40A:5-7.
Summary or Synopsis of the 2025 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
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ASSETS
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December 31, 2025
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Cash
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$
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5,035,655.30
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Prepaid Expenses
Restricted Assets:
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29,318.12
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Cash
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924,166.86
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Capital Assets, Net
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4,143,808.41
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Total Assets
DEFERRED OUTFLOWS OF RESOURCES
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10,132,948.069
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Related to Pensions
LIABILITIES
Current Liabilities:
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21,265.00
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Accounts Payable - Other
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2,543,177.37
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Accrued Interest Payable
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2,678.14
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Capital Lease Payable Noncurrent Liabilities:
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157,263.56
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Net Pension Liability
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122,476.00
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Capital Lease Payable
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953,160.25
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Total Liabilities
DEFERRED INFLOWS OF RESOURCES
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3,778,755.32
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Related to Pensions
NET POSITION
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12,824.00
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Net Investment in Capital Assets
Restricted for:
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3,033,384.60
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NJAC 570 2-12 Expenditures
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6,000.00
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Capital Projects
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918,166.86
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Debt Service (Deficit)
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(2,678.14)
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Unrestricted Net Position
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2,407,761.05
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Total Net Position
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$
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6,362,634.37
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TOWNSHIP OF HAZLET FIRE DISTRICT NO. 1
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED DECEMBER 31, 2025
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GOVERNMENTAL ACTIVITIES
Operating Appropriations:
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Administration
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$
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(281,929.08)
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Cost of Providing Services
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(1,284,370.45)
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Fire Official
Debt Service:
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(186,962.10)
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Interest on Lease
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(3,430.36)
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Total Governmental Activities
GENERAL REVENUES
Property Taxes Levied for:
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(1,756,691.99)
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General Purposes
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1,898,007.00
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Capital Expenditures
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375,000.00
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Debt Service
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90,325.00
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Fees and Penalties
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187,962.10
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Miscellaneous
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457.83
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Interest Income
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94,990.20
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Total General Revenues
Transfers:
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2,646,742.13
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LOSAP
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(39,614.00)
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Change in Net Position
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850,436.14
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Net Position - Beginning
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5,512,198.23
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Net Position - Ending
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$
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6,362,634.37
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RECOMMENDATIONS
None.
The above summary or synopsis was prepared from the report of audit of the Township of Hazlet Fire District No. 1, County of Monmouth for the calendar year 2025. 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.
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