New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 17 - ELECTRONIC DISBURSEMENT CONTROLS FOR AUTHORIZED THIRD-PARTY DISBURSEMENT SERVICES › Section 5:30-17.2 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, as used in this subchapter, shall
				  have the following meanings, unless the context clearly indicates otherwise:
"Chief financial officer" or "CFO" means the individual
				  statutorily responsible for supervising the accounts and finances of a local unit
				  and shall include any certifying and approval officer appointed pursuant to
				  40A:5-17(a), any
				  individual appointed in accordance with
				  18A:19-4.1, or such individual in
				  similar capacity legally appointed by the governing body of a local unit.
"Contract" means any written agreement entered into by a local
				  unit and a disbursing organization for the purposes authorized in these
				  rules.
"Dedicated cash account" means a demand deposit bank account owned
				  by the local unit and funded solely for use by a disbursing organization in
				  performing its duties and responsibilities in accordance with the contract.
"Disbursement" means any payment of moneys, including any transfer
				  of funds, by any means, to the dedicated cash account established for use by a
				  disbursing organization.
"Energy tracking and utility bill management systems" mean systems
				  that provide energy bill auditing, bill consolidation, and bill payment services for
				  the consumption of electricity, heating fuel, natural gas, propane, cogeneration
				  (chilled water, steam, and hot water), water supply, and wastewater service
				  bills.
"Governing body" means the board, commission, council or other
				  body having control of the finances of the local unit. In those local units in which
				  a chief executive officer is authorized by law to participate in such control
				  through powers of recommendation, approval or veto, the term includes such chief
				  executive officer to the extent of such participation.
"Local unit" means a municipality, county, school district,
				  authority subject to the "Local Authorities Fiscal Control Law,"
				  P.L.
				  1983, c.313 (40A:5A-1 et seq.), or a school
				  district as defined in
				  18A:18A-2(d).
"Payment documentation" includes transmittals, remittance forms,
				  tax returns, releases, filings, reports, and tapes supporting the disbursement of
				  funds.
"Payroll" means the object and result of all preparations and
				  calculations for, and the disbursement of salaries and wages, all withholdings
				  therefrom, and additional liabilities related thereto.
"Third-party disbursement service organization or disbursing
				  organization" means an organization engaged either directly or indirectly to perform
				  any of the services authorized pursuant to this subchapter.
"Third-party disbursement service" means such service or services
				  of the type authorized pursuant to this subchapter. Such service or services may
				  include the processing and disbursing of payroll and payroll agency obligations and
				  energy tracking and utility bill management systems.
"Transaction" means any activity that, in accordance with sound
				  fiscal practices, affects the general books of entry, ledgers, records, or logs of a
				  local unit.