reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 3 - ANNUAL BUDGET › Section 5:30-3.13 - Notice of certain referenda and results thereof

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				In a municipality where a referendum is taking place concerning any tax levy, or
				concerning the appropriations cap pursuant to
				N.J.S.A.
				40A:4-45.3a and 45.3a1, the municipal clerk shall
				provide the Director with a certified copy of the ordinance or resolution
				authorizing the referendum within five days of final adoption. The municipal clerk
				shall also provide the Director with a copy of the ballot question and copy of any
				notice published regarding the referendum.
(b) In a county where a referendum concerning any
				tax levy is taking place, the clerk of the board of county commissioners shall
				provide the Director with a certified copy of the ordinance or resolution
				authorizing the referendum within five days of final adoption. The clerk of the
				board of county commissioners shall also provide the Director with a copy of the
				ballot question and copy of any notice published regarding the referendum.
(c) The municipality or county shall provide the
				Director with the certified results of any referendum referenced at (a) or (b) above
				within five days of the municipality or county, as applicable, receiving the
				certified results.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.1 - Authority and application

Current through Register Vol. 56, No. 14, July 15, 2024
(a) This subchapter is
				adopted by the Local Finance Board pursuant to its powers authorized at N.J.S.A.
				52:27BB-10, 52:27BB-32, and 40A:4-43 to 45.
(b) This subchapter shall apply to all local
				units, and it shall be the duty of the governing body of each local unit to comply.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.2 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this subchapter,
				  shall have the following meanings unless the context clearly indicates
				  otherwise.
"Annual budget" means the Official Budget required to be adopted
				  by the Local Budget Law, and which for purposes of this subchapter includes a
				  separate section known as the Capital Budget and Capital Improvement Program.
"Capital budget" means the first year of a capital program.
"Capital program" means a moving, multi-year plan and schedule for
				  capital projects, including prospective financing sources and, when pertinent, first
				  year operating costs and savings.
"Capital project" means any of the following, with an expected
				  useful life of five years or more and a prospective individual or (when added to the
				  cost of other such items as are listed below) cumulative cost in any year of $
				  25,000 or more, regardless of the financing sources:
1. Acquisition and/or development of
				land;
2. Acquisition of major equipment,
				furniture, or other personal property;
3. Acquisition, construction, improvement and/or
				renovation of buildings, roads, utilities, structures, improvements or public
				works;
4. Any other matter described in
				40A:2-22;
"Director" means the Director of the Division of Local Government
				  Services or his designated representative.
"Financing sources" means any of the following, in any
				  combination, from which moneys are provided to finance capital projects:
1. Appropriations in the annual budget(s) of the
				current, utility or enterprise, capital or other fund;
2. Bonds or notes;
3. Appropriations from the Capital Improvement
				Fund or any other funds or reserves;
4.
				State or Federal aid;
5. Private
				contributions, bequests, etc.
"Local unit" means any county or municipality.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.3 - When required

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Every local unit shall prepare and adopt a
				capital budget, in conjunction with its annual operating budget, for any year in
				which it proposes to undertake a capital project. Inclusion of the following in the
				annual budget for the year shall, as a minimum, demonstrate the necessity of
				adopting a capital budget: appropriations for capital improvement fund, specific
				capital line items or down payments.
(b)
				No local unit shall adopt a bond ordinance unless:
1. It has already adopted a capital budget as part
				of the annual budget; or
2. If prior to
				final adoption of the annual budget, by adoption of a temporary capital budget which
				subsequently shall be included in the annual budget; or
3. If a need is determined after adoption of the
				annual budget, by adoption of a capital budget or an amendment to the capital
				budget.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.4 - Method of adoption

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any capital budget
				or capital improvement program that is to be adopted shall:
1. Be assembled and prepared by the officer(s)
				responsible for preparing the annual budget, provided that the provisions of
				40:55D-29, permitting the governing
				body to authorize the planning board to prepare a suggested capital improvement
				program, are considered.
2. Be adopted
				by the affirmative vote of a majority of the full authorized membership of the
				governing body.
3. Be referred to the
				planning board, if it affects the adopted master plan, at least 45 days prior to
				adoption. (See 40:55D-31 for full provisions.)
				Observance of this requirement would suggest notification to the planning board by
				January 10 for counties and February 3 for municipalities.
4. Be treated as part of the Official Budget and
				shall be published as part of it.
5.
				When an initial adoption or amendment is needed outside of the normal budget
				adoption procedure, the following should be observed:
i. Planning board review: As described above, this
				is optional at governing body discretion per
				40:55D-29, except that it is mandatory
				per 40:55D-31 if the project affects the
				master plan (consult local attorney for guidance);
ii. Use of the Standard forms described
				below;
iii. Adoption by
				resolution;
iv. Same majority
				vote;
v. Publication in local
				newspaper;
vi. Filing with the Director
				for review and certification.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.5 - Forms and content

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The director shall provide forms as part of
				the annual budget document. These forms are mandatory, except that the director, at
				his discretion, may authorize the use of other forms that provide substantially the
				same information. Prior written approval shall be sought.
(b) The capital budget shall include by title all
				projects scheduled for startup in the current budget year or for
				continuation/completion from prior years, the amounts appropriated and the
				anticipated financing by source and amount.
(c) Capital program forms rules are as follows:
1. The capital program shall include by title all
				projects anticipated for the budget year and two or more additional years, as
				provided below, with the estimated costs and the anticipated financing by sources
				and amounts:
Population
Minimum Program Period
Under 10,000
3 years
Over 10,000
6 years
2. A
				municipality with population under 10,000 that does not own a water system may
				discontinue annual capital program submissions whenever it shall, in compliance with
				the terms of this section, have had no capital budgets for three consecutive years
				provided that the capital program shall be reinstated when a capital budget is
				adopted.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.6 - Review and certification

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In reviewing a local unit's annual budget, the
				Director shall determine whether a capital budget and program are required, and if
				so, whether it has been included in the proper form. This review shall not extend to
				any determination as to the sufficiency or wisdom of its content except that, in the
				case of a local unit that owns its own water system, the capital budget and program
				shall identify the capital infrastructure improvement projects to be undertaken in
				accordance with the local unit's asset management plan pursuant to
				N.J.S.A.
				58:31-7, along with the estimated costs and the
				anticipated financing by sources and amounts.
(b) If the required capital budget and programs
				are not included in accordance with the requirements of this regulation, approval of
				the entire budget may be withheld, pending local corrective action. With respect to
				capital infrastructure improvement projects to be undertaken in accordance with the
				local unit's asset management plan pursuant to
				N.J.S.A.
				58:31-7, the Director may take into account the
				local unit's fiscal circumstances in determining appropriate measures for corrective
				action.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.7 - Capital expenditures proscribed

Current through Register Vol. 56, No. 14, July 15, 2024
Pursuant to
				  40A:4-44, no local unit shall make
				  appropriations or authorize expenditures or obligations for capital projects in the
				  absence of an adopted capital budget or other than in accordance therewith, except
				  for the preliminary expenses of plans, specifications, and estimates.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS › Section 5:30-4.8 - Director's action

Current through Register Vol. 56, No. 14, July 15, 2024
The director is authorized to advise local units of the
				  requirements and purposes of this regulation, to issue such forms and provide such
				  guidance as may be necessary, and to take such other steps as may, in his judgment,
				  be necessary to effectuate the purposes of this regulation in light of the need for
				  orderly overall fiscal administration.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 5 - CERTIFICATIONS OF AVAILABILITY OF FUNDS, AND ACCOUNTING SYSTEM REQUIREMENTS FOR LOCAL UNITS › Section 5:30-5.1 - General authority

Current through Register Vol. 56, No. 14, July 15, 2024
(a) This subchapter
				shall apply to all government agencies subject to the authority of the Local Finance
				Board pursuant to the Local Budget Law (40A:4-1 et seq.) or the Local
				Authorities Fiscal Control Act (40A:5A-1 et seq.). For
				the purpose of this subchapter, such government agencies shall be referred to as
				local units.
(b) Every governing body
				and chief executive officer shall take reasonable steps as necessary so that all
				officials and employees responsible for the administration of public contracts are
				aware of and are able to comply with the requirements of the law and these
				rules.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 5 - CERTIFICATIONS OF AVAILABILITY OF FUNDS, AND ACCOUNTING SYSTEM REQUIREMENTS FOR LOCAL UNITS › Section 5:30-5.2 - Encumbrance systems

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All local units except those subject to the
				Local Authorities Fiscal Control Law (N.J.S.A. 40A:5A-1 et
				seq.) shall maintain an encumbrance accounting system for all funds as follows:
1. The system shall be designed at a minimum to
				record charges to amounts appropriated for "Other Expenses" in the same or greater
				level of detail as "Other Expenses" are maintained in the adopted budget. This shall
				be done in such a way to record charges against amounts appropriated at the time the
				charges are authorized so that the funds allocated for such purposes are reserved
				and cannot be used for other charges within that line item. Examples of such
				authorization actions include the issuance of a purchase order or the execution of a
				contract.
2. If the local unit budget
				uses a greater detail level through the use of object accounts, transactions shall
				be encumbered at the object level detail.
3. Local units shall maintain internal controls
				that ensure that all purchases charged to "Other Expense" or other non-salary line
				items shall be sequentially numbered through a computerized system that produces
				appropriate purchasing internal control.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 5 - CERTIFICATIONS OF AVAILABILITY OF FUNDS, AND ACCOUNTING SYSTEM REQUIREMENTS FOR LOCAL UNITS › Section 5:30-5.3 - General requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The chief financial officer of a local unit,
				appointed pursuant to
				40A:9-140.1 et seq. or
				40A:9-28.1 et seq., shall be
				responsible for determining the availability of sufficient funds for all contracts
				and amendments thereto. The delegation of this duty by the chief financial officer
				does not relieve him or her of this responsibility.
(b) The governing bodies of all other local units
				shall designate by resolution or ordinance, as appropriate, an individual to serve
				as the certifying finance officer. The certifying finance officer shall be
				responsible for determining the availability of sufficient funds for all contracts
				and amendments thereto. The delegation of this duty by the certifying finance
				officer does not relieve him or her of this responsibility.
(c) If a purchase or the execution of a contract
				does not require, either by State law or any State or local regulation, specific
				authorization by formal action of the governing body, then the individual approving
				the contract or release of the purchase order shall be able to ascertain from an
				appropriate entry made into the local unit's encumbrance system by the chief
				financial officer or certifying finance officer, as appropriate, that there are
				available sufficient uncommitted appropriations to provide for the payment. The
				administrative official or employee shall be so authorized pursuant to
				N.J.S.A.
				40A:11-3.
(d) Notwithstanding (c) above, if a local unit
				subject to the Local Authorities Fiscal Control Law (N.J.S.A.
				40A:5A-1 et seq.) does not maintain an encumbrance
				system, the certifying finance officer of the local unit shall, at a minimum,
				maintain a record of all open contracts, including open purchase orders. If a
				purchase or the execution of a contract does not require, either by State law or any
				State or local rule, specific authorization by formal action of the governing body,
				the individual approving the contract or release of the purchase order shall consult
				with the record of open contracts in determining whether there are available
				sufficient uncommitted appropriations to provide for the payment.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 5 - CERTIFICATIONS OF AVAILABILITY OF FUNDS, AND ACCOUNTING SYSTEM REQUIREMENTS FOR LOCAL UNITS › Section 5:30-5.5 - Methods of accounting for and certifying available funds for special situations

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				Temporary budget: When a local unit is operating under a temporary budget, as
				provided for in
				N.J.S.A.
				40A:4-19, the local unit may enter into a contract
				for a period extending beyond the time period funded in the temporary budget upon
				compliance with the following:
1. If the full cost
				of that year is to be charged against the temporary budget at the time the contract
				is authorized by a resolution or ordinance of the governing body, the written
				certification of available funds required by
				N.J.A.C.
				5:30-5.4(a)  shall certify the
				availability of the full cost of the contract for that fiscal year in the temporary
				budget, which must contain sufficient appropriations therefor; or
2. If the full cost of that year would not be
				charged against the temporary budget at the time the contract is authorized by a
				resolution or ordinance of the governing body, the written certification of
				available funds required by
				N.J.A.C.
				5:30-5.4(a)  shall certify the
				availability of at least a prorated amount reflecting all liability to be incurred
				during the temporary budget period, and the contract must contain a clause making
				its continuation past the temporary budget period subject to the appropriation of
				sufficient funds. Immediately after the final budget is adopted, a written
				certification of available funds shall be prepared for the remaining balance and
				filed with the original ordinance or resolution authorizing entering into the
				contract.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 5 - CERTIFICATIONS OF AVAILABILITY OF FUNDS, AND ACCOUNTING SYSTEM REQUIREMENTS FOR LOCAL UNITS › Section 5:30-5.6 - Accounting for governmental fixed assets

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All local units
				shall have and maintain a fixed assets accounting and reporting system that:
1. Establishes and maintains a physical inventory
				of fixed assets of nonexpendable, tangible property as defined and limited by the
				U.S. Office of Management and Budget Circular A-87, Cost Principles for State, Local
				and Indian Governments, 2 CFR Part 225, incorporated herein by reference, as amended
				and supplemented. A local unit may establish a capitalization level less than, but
				not in excess of, the threshold in Circular A-87, except that nonexpendable,
				tangible personal property shall have a useful life of at least five
				years;
2. Places a value on all fixed
				assets whether constructed or acquired through purchase, grant, or gift. Fixed
				assets acquired after December 31, 1985, shall be valued on the basis of actual
				cost; prior to that time, they may be valued at cost or estimated historical cost,
				the basis of which shall be disclosed in the local unit's annual financial
				statement;
3. Has a subsidiary ledger,
				consisting of detailed property records for controlling additions, retirements, and
				transfers of fixed assets. Such ledger shall be maintained and reconciled
				periodically and at the end of every fiscal year with the general ledger control
				accounts for fixed assets;
4. Provides
				property management standards for fixed assets that ensures that:
i. Property records are maintained accurately, to
				reflect a description and source of the property, its ownership, the acquisition
				cost and date, the percentage of Federal participation in the acquisition, and the
				location, use, and condition of the property;
ii. Property owned by the Federal government is
				marked as such;
iii. Periodic physical
				inventories are taken and reconciled with property records, with any differences
				being investigated to reflect the cause of difference;
iv. Provides a control system with adequate
				safeguards against loss, damage, or theft of property, and full investigation and
				documentation of any losses; and
v.
				Property is adequately maintained to keep the property in good condition;
				and
5. Provide a Statement of
				General Fixed Assets in every annual audit report.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 5 - CERTIFICATIONS OF AVAILABILITY OF FUNDS, AND ACCOUNTING SYSTEM REQUIREMENTS FOR LOCAL UNITS › Section 5:30-5.7 - General ledger accounting systems

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All local units
				shall have and maintain a general ledger for the current fund and all other
				funds.
(b) The general ledger shall be
				the official permanent financial record of the local unit. It shall provide a
				summary of all financial transactions as they have been recorded in the books of
				original entry, using a double entry, self-balancing accounting system with the
				general ledger facilitating the preparation of the financial statements. The general
				ledger, together with the books of original entry and supporting subsidiary ledgers
				shall constitute the complete accounting system.
(c) In support of the general ledger, the
				following books of original entry (journals) are required to be maintained in an
				electronic format:
1. Cash receipts
				journal;
2. Cash disbursements
				journal;
3. Payroll journal;
				and
4. General journal.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 5 - CERTIFICATIONS OF AVAILABILITY OF FUNDS, AND ACCOUNTING SYSTEM REQUIREMENTS FOR LOCAL UNITS › Section 5:30-5.8 - Chart of accounts for municipalities and counties

Current through Register Vol. 56, No. 14, July 15, 2024
Municipalities and counties shall incorporate the Flexible Chart
				  of Account (FCOA) codes promulgated by the Director into the annual budget, annual
				  audit, and all other financial statements.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 6 - ANNUAL AUDIT › Section 5:30-6.1 - Uniform accounting system for local units

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Requirements of
				Audit that have been promulgated for municipalities, and counties, which are deemed
				to include the county surrogate's office and the county probation department, are
				considered as minimum requirements and should be elaborated upon whenever, in the
				judgment of the registered municipal accountant, it is required. The Requirements of
				Audit shall also apply to regional service agencies whose constituent members are
				solely made up of municipalities and/or counties.
(b) Copies of Requirements of Audit may be
				obtained from:
Local Finance Board
Division of Local Government Services
Department of Community Affairs
PO Box 803
Trenton, New Jersey 08625-0803
(c) In addition to the Requirements of Audit, the
				registered municipal accountant of each local unit shall also utilize the
				requirements of the following authoritative resources, incorporated herein by
				reference, in conducting the annual audit, as appropriate and applicable:
1. Generally Accepted Auditing Standards as
				promulgated by the American Institute of Certified Public Accountants;
2. Government Accounting Standards Board with
				regard to disclosure of notes to the financial statements, except that
				municipalities, counties, and regional service agencies whose constituent members
				are solely made up of municipalities and/or counties may use the most recent
				available audited GASB 68 and GASB 75 financial information published by the New
				Jersey Department of the Treasury, Division of Pensions and Benefits;
3. 2 CFR Part 200 Subpart F;
4. New Jersey Office of Management and Budget
				Circular 15-08; and
5. Generally
				Accepted Government Auditing Standards promulgated by the U.S. General Accounting
				Office (Yellow Book).
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 6 - ANNUAL AUDIT › Section 5:30-6.4 - Synopsis of audit

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Within 30 days of receipt of the annual audit,
				the clerk of the county board of commissioners, the municipal clerk, or the
				secretary of the regional service agency, as applicable, shall have a synopsis of
				audit published at least once in the official newspaper of the local unit, if there
				is one, or if there is none, in a newspaper published in the local unit. If there is
				no newspaper published within the local unit, it shall be published in a newspaper
				having a general circulation in the local unit. The synopsis of audit shall include
				the following:
1. A comparative balance
				sheet;
2. A comparative statement of
				revenue, expenses/expenditures, and changes in retained earnings/fund
				balance;
3. A summary of all comments,
				findings, and recommendations. If the audit contains one or more findings repeated
				from the prior year's annual audit, the summary shall specifically identify those
				findings as repeat findings; and
4. If
				the annual audit contains one or more findings, a statement that a corrective action
				plan outlining actions to be taken to correct the finding or findings will be placed
				on file for public inspection with the clerk of the county board of commissioners,
				the municipal clerk, or the secretary of the regional service agency, as applicable.
				The statement shall include the date on which the corrective action plan will be on
				file with the clerk or secretary, as applicable, which date shall be no later than
				60 days from the date on which the registered municipal accountant filed the
				completed annual audit with the local unit.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 6 - ANNUAL AUDIT › Section 5:30-6.5 - Certification of governing body

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The annual audit of
				accounting records and transactions required of every local unit pursuant to
				N.J.S.A.
				40A:5-4 shall be filed by the local unit's
				registered municipal accountant with the clerk of the board of county commissioners,
				the municipal clerk, or the secretary of the regional service agency, as applicable,
				pursuant to N.J.S.A. 40A:5-6, and a copy shall be
				delivered to each member of the governing body.
(b) The governing body of each local unit shall,
				by resolution, certify to the Local Finance Board that all members of the governing
				body have personally reviewed, at a minimum, all audit findings, comments, and
				recommendations.
1. Such certification shall also
				be evidenced by the execution of a group affidavit form, promulgated by the Board,
				that shall be originally signed by each member of the governing body.
2. Such resolution of certification and group
				affidavit shall be adopted and executed by the governing body not later than 45 days
				after the receipt of the annual audit.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 6 - ANNUAL AUDIT › Section 5:30-6.6 - Corrective action plan; summary schedule of prior year audit findings

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The local
				unit is responsible for follow-up and corrective action on all audit findings. If
				the local unit's annual audit contains one or more findings, the local unit shall
				prepare a corrective action plan to address each finding. No later than 60 days from
				the date on which the registered municipal accountant filed the annual audit with
				the local unit, a corrective action plan shall be adopted by the governing body and
				placed on file with the clerk of the board of county commissioners, the municipal
				clerk, or the secretary of the regional service agency, as applicable. For each
				finding, the plan shall include:
1. The reference
				number assigned by the registered municipal accountant;
2. The corrective action planned and the
				anticipated completion date;
3. The
				contact person(s) responsible for the corrective action; and
4. For each audit finding with which the governing
				body disagrees, or believes corrective action is not required, an explanation with
				specific reasons.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 6 - ANNUAL AUDIT › Section 5:30-6.7 - Required submissions to Director

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A certified
				duplicate copy of the annual audit shall be filed with the Director, over the
				signature of the registered municipal accountant, within five days of the original
				report of audit being filed with the clerk of the county board of commissioners, the
				municipal clerk,or the secretary of the regional service agency, as
				applicable.
(b) A certified copy of the
				resolution and group affidavit required pursuant to
				N.J.A.C.
				5:30-6.5(b)  shall be filed with
				the Director within five days of the resolution being adopted by the governing body.
				Proof of publication of the synopsis of audit pursuant to
				N.J.A.C.
				5:30-6.4 shall be included in the
				submission.
(c) The corrective action
				plan and summary schedule of prior audit findings shall be filed with the Director
				within five days of being filed with the clerk of the county board of commissioners,
				the municipal clerk, or the secretary of the regional service agency, as
				applicable.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 6 - ANNUAL AUDIT › Section 5:30-6.8 - Discovery of fraud or illegal acts

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Division of
				Local Government Services has the prerogative to take full charge of the auditing of
				any local unit where any shortage, embezzlement, or fraud is discovered. Where there
				is detection of an illegal act, shortage, or irregularity, the Division shall be
				notified at once by means of a special confidential report. The independent
				auditor's responsibility for the detection of illegal acts and irregularities in an
				audit of financial statements shall be according to Generally Accepted Accounting
				Standards (GAAS).
(b) Confidential
				report blanks shall be submitted in triplicate; one copy for filing in the Division,
				one copy for filing with the local unit, and the third copy for the auditor's files.
				Blanks can be procured upon request and may be secured either in advance or
				immediately upon the discovery of any condition requiring a special report. The
				special confidential report (see N.J.A.C. 5:30 Appendix, incorporated herein by
				reference) shall be prepared, as follows:
1.
				Section One is a preliminary report and must be filed with the Division within 48
				hours after the discovery of any irregularity or shortage regardless of whether or
				not the facts have been definitely established;
2. Section Two shall be filed immediately after
				the auditor has completed the work or after the auditor has completed the
				preliminary work to a point where the auditor can make a fair determination as to
				the amount involved. The auditor shall file supplements or preliminary reports from
				time to time pending the filing of Section Two in completed form; and
3. Section Three shall be filed upon final
				disposition of the case.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 7 - MUNICIPAL BUDGET LOCAL EXAMINATION AND APPROVAL › Section 5:30-7.1 - Authority

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Pursuant to
				40A:4-78, the Local Finance Board is
				empowered to adopt criteria relating to municipal exemption from the Director's
				examination of the annual budget.
(b)
				This subchapter is to ensure that municipalities participating in the program are
				financially sound and the temporary elimination of the Director's review of the
				budget will not expose the municipality to evidence financial risk.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 7 - MUNICIPAL BUDGET LOCAL EXAMINATION AND APPROVAL › Section 5:30-7.2 - 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.
"Annual budget" or "budget" means the annual budget of the
				  municipality as described in the Local Budget Law.
"Comptroller function" means conduct of government accounting and
				  transactions.
"Director" means the Director of the Division of Local Government
				  Services.
"Division" means the Division of Local Government Services.
"Local Budget Law" means the provisions of
				  40A:4-1 et seq.
"Local examination" or "locally examine" means:
1. The procedure set forth in
				40A:4-78(b)  and this
				subchapter that permits municipal officials to examine and approve the annual budget
				pursuant to N.J.S.A. 40:4-76 through 4-79 in lieu of the Director; and
2. The annual budget has been adopted in
				accordance with all other provisions of law, including, but not limited to, the
				"Local Budget Law," (40A:4-1 et seq.) and the regulations
				of the Local Finance Board.
"Local examination certification" or "local examination
				  certificate" means the form provided by the Director and executed by the governing
				  body and chief financial officer certifying that the adopted budget has been locally
				  examined.
"Reporting year pool" means the group of municipalities considered
				  by the Director for local examination in a given year.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 7 - MUNICIPAL BUDGET LOCAL EXAMINATION AND APPROVAL › Section 5:30-7.3 - Local examination process

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each year the chief
				financial officer of each municipality shall certify its local examination status to
				the Division as part of its annual financial statement.
(b) Subject to the criteria in this subchapter,
				each municipality may locally examine their budget in any two of every three
				consecutive years.
(c) In every
				municipality participating in the local examination process, the governing body and
				chief financial officer shall ensure that the annual budget has been locally
				examined.
(d) In order to conduct a
				local examination, the municipality must be advised by the Director that it meets
				the eligibility criteria in
				5:30-7.4, and then qualify for local
				examination by certifying that it meets the criteria in
				5:30-7.5.
(e) A municipality conducting a local examination
				shall file copies of the annual financial statement, annual debt statement,
				introduced and adopted budget, amendments, certifications, and other documents
				required to be filed with the Director, as required by law and rule, as if the
				budget were to be examined by the Director.
(f) By resolution of the governing body, any
				municipality that qualifies for local examination may choose to have its budget
				examined by the Director and not participate in the local examination process that
				year.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 7 - MUNICIPAL BUDGET LOCAL EXAMINATION AND APPROVAL › Section 5:30-7.4 - Eligibility for local examination

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Director shall
				randomly assign each municipality to one of three reporting year pools. Each pool
				shall be assigned the years in which the budget shall be considered for local
				examination.
1. Within 30 days after the start of
				each fiscal year, the Director shall determine and notify all municipalities if they
				are eligible or ineligible for local examination for the fiscal
				year.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 7 - MUNICIPAL BUDGET LOCAL EXAMINATION AND APPROVAL › Section 5:30-7.5 - Qualifying for budget local examination

Current through Register Vol. 56, No. 14, July 15, 2024
(a) If determined to be
				eligible for local examination, the chief financial officer shall determine if the
				municipality meets all of the following criteria:
1. The outstanding indebtedness of the previous
				fiscal year is not in excess of 3.5 percent;
2. All emergencies approved for the previous
				fiscal year did not exceed three percent of total appropriations;
3. The tax collection rate exceeded 90
				percent;
4. Total deferred charges did
				not equal or exceed four percent of the total tax levy;
5. There were no "agreed upon procedural
				deficiencies" not performed by the registered municipal accountant and noted on
				Sheet 1a of the Annual Financial Statement;
6. There was no operating deficit for the previous
				fiscal year;
7. The municipality did not
				conduct an accelerated tax sale for less than three consecutive years;
8. The municipality did not conduct a tax levy
				sale the previous fiscal year and does not plan to conduct one in the current
				year;
9. The current year budget does
				not contain a budget cap waiver, per
				40A:4-45.3(ee);
				and
10. The municipality will not apply
				for Extraordinary Municipal Aid (52:27D-118.3 5) in the
				current year.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 7 - MUNICIPAL BUDGET LOCAL EXAMINATION AND APPROVAL › Section 5:30-7.6 - Completion of local examination

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Prior to adoption of
				the budget, the governing body and the chief financial officer shall examine the
				budget for the following:
1. That with reference
				to the following items, the amounts have been calculated pursuant to law and
				appropriated as such in the budget:
i. Payment of
				interest and debt redemption charges;
ii. Deferred charges and statutory
				expenditures;
iii. Cash deficit of
				preceding year;
iv. Reserve for
				uncollected taxes;
v. Other reserves and
				non-disbursement items; and
vi. Any
				inclusions of amounts required for school purposes;
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 7 - MUNICIPAL BUDGET LOCAL EXAMINATION AND APPROVAL › Section 5:30-7.7 - Revocation of qualification

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Director may
				revoke qualification for local examination and assume responsibility for examination
				if:
1. After notice by the Director, the governing
				body fails to introduce or adopt the budget on a timely basis;
2. The municipality applies for a budget cap
				waiver pursuant to
				40A:4-45.3(ee);
				or
3. If the introduced budget or
				subsequent amendments include the sale of a property tax levy if permitted by
				statute in the previous year.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 8 - FINANCIAL ADMINISTRATION › Section 5:30-8.1 - Electronic data processing systems for financial, revenue, and property tax accounting

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				Local units utilizing electronic data processing systems or services for financial,
				payroll, revenue, or property tax accounting, and equipment used for cash receipting
				purposes, are subject to the following provisions:
1. Local units procuring or upgrading systems or
				services shall ensure that they meet the following requirements:
i. Transaction recording and reporting elements
				shall provide audit trails and reports that meet generally accepted government
				accounting standards, requirements of audit, all relevant provisions of the Local
				Fiscal Affairs Law (N.J.S.A. 40A:5-1 et
				seq.), and rules promulgated by the Local Finance Board and the Director of the
				Division of Local Government Services.
ii. For property tax accounting systems, the
				vendor or system owner, and the local unit's certified tax collector, shall certify
				that they have tested and found that any automated calculation of interest or
				penalty meets the appropriate requirements of
				N.J.S.A.
				54:4-1 et seq. and any local ordinance or
				resolution related thereto.
iii. For
				revenue accounting systems, the vendor or system owner, and the local unit chief
				financial officer, shall certify that they have tested and found that any automated
				calculation of billing, amount due, interest, or penalty meets the requirements of
				any statute or local unit ordinance or resolution for those revenues maintained by
				the system.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 8 - FINANCIAL ADMINISTRATION › Section 5:30-8.2 - Recommended surety bond coverage for chief financial officers

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Local units shall
				provide a fidelity bond with faithful performance coverage for the chief financial
				officer or other individual holding overall management responsibility for the local
				unit's finances. If coverage is being provided pursuant to the local unit's blanket
				fidelity bond, coverage pursuant to the blanket bond for the chief financial officer
				or other individual holding overall management responsibility for the local unit's
				finances shall be subject to the application of individual rating criteria and
				underwriting standards that consider the risk and potential liability presented by
				the individuals covered by the blanket bond as if the individuals were covered by an
				individual bond.
(b) As of January 1,
				2024, the following schedule shall serve as the minimum basis for the bond amount:
1. The exposure index from which the amount of the
				bond is calculated, is at least 10 percent of the total revenues of the local unit,
				including, but not limited to:
i. "Pass through"
				revenues, such as property tax levies for municipalities;
ii. Current, trust, capital, and utility funds for
				municipalities or counties;
iii.
				Grants;
iv. Revenues from payments in
				lieu of property taxes (PILOTs);
v. All
				taxes other than property taxes collected by the municipality; and
vi. General and special purposes funds for each
				enterprise of an authority.
Exposure Index
Minimum Bond Amount
0-25,000
15,000-25,000
25,000-125,000
25,000-50,000
125,000-250,000
50,000-75,000
250,000-500,000
75,000-100,000
500,000-750,000
100,000-125,000
750,000-1,000,000
125,000-150,000
1,000,000-1,375,000
150,000-175,000
1,375,000-1,750,000
175,000-200,000
1,750,000-2,125,000
200,000-225,000
2,125,000-2,500,000
225,000-250,000
2,500,000-3,325,000
250,000-300,000
3,325,000-4,175,000
300,000-350,000
4,175,000-5,000,000
350,000-400,000
5,000,000-6,075,000
400,000-450,000
6,075,000-7,150,000
450,000-500,000
7,150,000-9,275,000
500,000-600,000
9,275,000-11,425,000
600,000-700,000
11,425,000-15,000,000
700,000-800,000
15,000,000-20,000,000
800,000-900,000
20,000,000-25,000,000
900,000-1,000,000
25,000,000-50,000,000
1,000,000-1,250,000
50,000,000-87,500,000
1,250,000-1,500,000
87,500,000-125,000,000
1,500,000-1,750,000
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 8 - FINANCIAL ADMINISTRATION › Section 5:30-8.3 - Minimum surety bond coverage for tax collectors

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each tax
				collector and collector of utility rents shall be bonded with a surety bond,
				calculated as follows:
1. The minimum requirement
				for the surety bond of each tax collector shall be such percentage of the preceding
				year's tax duplicate for all tax levies as is required by the schedule set forth in
				this subsection, along with such percentage of the following revenues collected by
				the tax collector in the preceding year:
i.
				Payments in lieu of taxes (PILOTs), if collected by the tax collector;
ii. Local assessments; and
iii. Any other revenues collected by the tax
				collector.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 8 - FINANCIAL ADMINISTRATION › Section 5:30-8.5 - Guidelines concerning receipt and custody of public funds

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No officer of a
				local unit shall accept in receipt of the payment of any license, fee or other
				charge, a check in excess of the amount actually due.
(b) Under no circumstances shall said officer
				engage in the practice of cashing checks with public funds.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 8 - FINANCIAL ADMINISTRATION › Section 5:30-8.6 - Managing and accounting for outside employment of off-duty law enforcement officers

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each
				local unit that permits employment of off-duty law enforcement officers by outside
				entities or individuals shall adopt a formal policy relating to such employment. The
				policy shall provide for exercise of the local unit's authority to regulate outside
				employment of off-duty law enforcement officers and to set hourly compensation rates
				for law enforcement officers engaging in outside employment that is consistent with
				the Federal Fair Labor Standards Act (FLSA),
				29 U.S.C. §§
										201 et seq., and other applicable laws, and any
				relevant provisions included in a collective negotiated agreement to which the local
				unit's law enforcement officers are subject. For purposes of this section, off-duty
				work or off-duty employment shall be work performed on behalf of an outside entity
				or individual performed outside of a law enforcement officer's regular shift or
				overtime.
(b) If an outside entity or
				individual utilizes off-duty law enforcement officers for police-related activities
				at assignments or projects, such as, but not limited to, security and traffic safety
				control, any payment by the outside entity or individual in connection therewith
				must be remitted directly to the local unit.
(c) Any rates or fees charged by a local unit for
				employment of off-duty law enforcement officers by outside entities or individuals
				shall be subject to the provisions of this section and incorporated into the local
				unit's formal policy regulating such off-duty employment. The rates or fees shall
				either be established by ordinance or resolution, as appropriate to the form of
				government, unless the hourly compensation paid to off-duty law enforcement officers
				is specified in a collective negotiated agreement. Such rates or fees shall not
				incorporate local unit costs other than those directly attributable to the provision
				of off-duty law enforcement officers for the project or event. Rates or fees charged
				by the municipality shall be itemized as follows:
1. Personnel;
2. Administrative;
3. Vehicle;
4. Equipment; and
5. Other costs.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 30 - LOCAL FINANCE BOARD › Subchapter 8 - FINANCIAL ADMINISTRATION › Section 5:30-8.7 - Notice of occurrences

Current through Register Vol. 56, No. 14, July 15, 2024
It is the duty and responsibility of the chief financial officer
				  to advise the Division of Local Government Services and the Department of Education,
				  as appropriate, in any case where there might be a prospective default in the
				  payment of principal or interest of any of the local unit's debt obligations.