reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Section 5:31-2.20 - Regional sewerage authority revenue cap; charges to customers

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The established rate charged to customers of
				the regional sewerage authority based on metered consumption, measured by a specific
				number of gallons or cubic feet, shall not exceed the established rate charged in
				the previous budget year by more than two percent as measured against the same
				number of gallons or cubic feet.
(b) The
				number of cubic feet or gallons against which the established rate is measured shall
				not be reduced in such a fashion as to cause the amount billed to a customer of the
				regional sewerage authority to exceed two percent of the amount billed to the
				customer for the same usage in the previous budget year.
(c) The minimum charge, or the fixed charge for
				unmetered consumption, per unit, parcel, or fixture shall not increase by more than
				two percent versus the amount charged in the previous budget year. Fees charged for
				connection to a regional sewerage authority's system shall not be subject to this
				limitation; however, this subsection shall not be interpreted to override the
				limitations on connection fees set forth at
				N.J.S.A.
				40:14A-8.b.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Section 5:31-2.21 - Regional sewerage authority revenue cap; exceptions

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Notwithstanding any limitations on increasing
				the amount billed, a regional sewerage authority may apply to the Local Finance
				Board for a waiver to increase rents, rates, fees, and charges to levels sufficient
				to compensate for loss of revenues due to reductions in the use or service of the
				sewerage system.
(b) Notwithstanding any
				limits on increasing the amount billed, a regional sewerage authority may increase
				its rents, rates, fees, and charges by more than two percent versus the amount
				charged in the previous budget year without consideration of any amounts required to
				be raised for:
1. Capital expenditures included in
				the regional sewerage authority capital budget;
2. Payment of principal or interest on debt
				authorized or issued pursuant to law;
3.
				Increases in net position required to be held in reserve with respect to any debt
				covenants; and
4. Any amounts required
				to be raised for the purposes of establishing a stormwater utility operation
				pursuant to
				P.L.
				2019, c. 42.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Section 5:31-2.22 - Director approval of regional sewerage authority annual budget

Current through Register Vol. 56, No. 14, July 15, 2024
Once the governing body members of the regional sewerage authority
				  introduce and approve its annual budget by a resolution passed by not less than a
				  majority of the full membership, the budget shall be submitted to the Director for
				  review and approval.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Appendix D

Current through Register Vol. 56, No. 14, July 15, 2024
FIRE DISTRICT SPECIAL MEETING
(N.J.S.A. 40A:14-84)
RESULTS CERTIFICATION
Please include a copy of the Fire District Notice and Affidavit of
				  Special Meeting Posting with this form upon submission.
Municipality:
District #:
County:
Annual Election Held:
(check one) _____ third Saturday in February ______
							 November General
CAPITAL EXPENDITURES SUBJECT TO VOTER APPROVAL
CAPITAL PROJECTS (add additional project columns as
							 necessary)
(N.J.S.A.
							 40A:14-84)
Capital #1 Description of Project:
Capital #2 Description of Project:
Capital #3 Description of Project:
Amount
$
$
$
Total Votes
#
#
#
Total "Yes" Votes
#
#
#
Total "No" Votes
#
#
#
% of Yes Votes*
%
%
%
Total Abstaining or Absent**
#
#
#
* Percentage of "Yes" Votes = Total Number of "Yes" Votes / Total
				  Number of Votes Cast
**Only applies to fire districts within November Fire Commissioner
				  Elections
It is hereby certified that this special meeting was conducted in
				  compliance with the provisions of N.J. S.A. 40A:14-84:
Signature:
Date:
Printed Name:
Title:
Telephone:
Fax:
E-mail:
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Appendix E

Current through Register Vol. 56, No. 14, July 15, 2024
20___ FIRE DISTRICT VOTER REFERENDUM TO AUTHORIZE DEBT
				  (N.J.S.A.
				  40A:14-85 and 86)
RESULTS CERTIFICATION
CAPITAL PROJECTS (add additional project columns as
							 necessary
(N.J.S.A. 40A:14-85AND
							 86)
Capital #1 Description of Project:
Capital #2 Description of Project:
Capital #3 Description of Project:
Amount
$
$
$
Total Votes
#
#
#
Total "Yes" Votes
#
#
#
Total "No" Votes
#
#
#
% of Yes Votes*
%
%
%
I hereby certify that this voter referendum was held in compliance
				  with the requirements of
				  N.J.S.A.
				  40A:14-85 and 86, and Title 19 if the referendum
				  was held during the November general election:
Signature:
Date:
Printed Name:
Title:
Telephone:
Fax:
E-mail:
Please return this form to the Division within seven (7) calendar
				  days of the election, along with a copy of the election ballot upon which the
				  question was placed.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Appendix F

Current through Register Vol. 56, No. 14, July 15, 2024
Fire District Levy Cap Referendum Public Question
The Public Question and Interpretative Statement to be placed on
				  the ballot shall be as follows:
Public Question
"Shall the Board of Commissioners of (name and number of fire
				  district) be authorized to adopt the (insert year) Fire District Budget, despite the
				  fact that its property tax levy will exceed the Property Tax Levy Cap Maximum
				  Allowable Amount to be Raised by Taxation increase limitation by (insert percent) or
				  (insert dollar amount) as provided by N.J.S.A. 40A:4-45.46b?
A "yes" vote will authorize the Board of Commissioners of the fire
				  district to adopt the budget that was introduced and published.
				  N.J.S.A.
				  40A:4-45.45establishes a cap of two percent (2%)
				  on the amount a property tax levy can increase. This amount can be exceeded when
				  approved by referendum of the voters.
The following are those line items to which the increases
				  apply:
(List line items)
If the referendum is approved (a "yes" vote) by more than 50
				  percent of the voters casting a vote at the referendum, the budget will be adopted
				  with a property tax levy that exceeds the two percent (2%) property tax levy
				  cap.
A "no" vote means that the District Board of Commissioners must
				  adopt the budget within the increase limits set forth by the law.
(Insert here "any other relevant information as the Board may wish
				  to include" in the Statement.)."
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Appendix G

Current through Register Vol. 56, No. 14, July 15, 2024
Public Question -- Release of Restricted Fund Balance Referendum
				  (Fire Districts)
The Public Question and Interpretative Statement to be placed on
				  the ballot shall be as follows:
Public Question
"Shall the Board of Commissioners of (name and number of fire
				  district) be authorized to appropriate (insert dollar amount) from its Restricted
				  Fund Balance to use as general revenue in the district's (insert year) Fire District
				  Budget?
A "yes" vote will authorize the Board of Commissioners of the fire
				  district to use (insert dollar amount) as general revenue in the district's (insert
				  year) budget and spend those funds on providing and maintaining essential district
				  services for the residents of the district. Because the funds were previously
				  restricted for capital purposes, this amount cannot be included in the budget unless
				  approved by the voters. The Board of Commissioners would increase its planned
				  expenditure for each of the purposes listed below by the amount shown below.:
(List each line item with the corresponding amount for
				  referendum)
If referendum is approved (a "yes" vote) by a vote in excess of 50
				  percent of the voters casting a vote at the referendum, the budget will be adopted
				  with the release of (insert dollar amount) of its Restricted Fund Balance for use as
				  general revenue.
A "no" vote means that the District Board of Commissioners will be
				  adopted without the release of (insert dollar amount) of its Restricted Fund Balance
				  for use as general revenue.
(Insert here any other such relevant information as the Board may
				  wish to include in the Statement.)."
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Appendix I

Current through Register Vol. 56, No. 14, July 15, 2024
20__Fire District Budget Election Results Certification (FEBRUARY
				  BOARD OF COMMISSIONER ELECTIONS)
Please include a copy of the Fire District Election
				  Ballot.
Municipality:
Fire District #:
County:
20__ ADOPTED BUDGET
Amount to be Raised by Taxation
$
Tax Rate Per Hundred
$
Total Yes Votes
#
Total No Votes
#
OTHER REFERENDUM QUESTIONS
Levy Cap Referendum
Release of Restricted Fund Balance
Initial LOSAP
CAPITAL PROJEC project column (N.J.S.A. 40A:
Capital #1 Description of Project:
Capital #2 Description of Project:
Amount
$
$
$
$
$
Total Votes
#
#
#
#
#
Total "Yes" Votes
#
#
#
#
#
Total "No" Votes
#
#
#
#
#
% of Yes Votes*
%
%
%
%
%
*add additional columns as necessary
It is hereby certified that the above information complies with
				  the requirements of law:
Signature:
Date:
Printed Name:
Title:
Telephone:
Fax:
E-mail:
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 2 - BUDGETS › Appendix J

Current through Register Vol. 56, No. 14, July 15, 2024
20__Fire District Levy Cap & Restricted Fund Balance
Referendum Results Certification
(FOR DISTRICTS WITH NOVEMBER BOARD OF COMMISSIONER
				  ELECTIONS)
Please include copy of the Referendum Election Ballot.
Municipality:
Fire District #:
County:
20__ ADOPTED BUDGET
Amount to be Raised by Taxation
$
Tax Rate Per Hundred
$
REFERENDUM QUESTIONS (AS APPLICABLE)
Levy Cap Referendum
Release of Restricted Fund Balance
Amount
$
$
Total Votes
#
#
Total 'Yes' Votes
#
#
Total 'No' Votes
#
#
% of Yes Votes
%
%
OTHER REFERENDUM QUESTIONS (AS APPLICABLE)
Initial LOSAP
CAPITAL PROJECTS* (N.J.S.A. 40A:14-
						  85)
Capital #1 Description of Project:
Capital #2 Description of Project:
$
$
$
#
#
#
#
#
#
#
#
#
%
%
%
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 3 - CASH MANAGEMENT › Section 5:31-3.1 - Cash management plan; legal depositories for public moneys; receipt and deposit of funds

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The governing body shall, by resolution,
				passed by not less than a majority of the full membership, adopt a cash management
				plan pursuant to
				N.J.S.A.
				40A:5-14. The authority shall deposit, or invest,
				or both deposit and invest, its funds pursuant to its adopted cash management plan.
1. The cash management plan shall be designed to
				assure, to the extent practicable, the investment of authority funds in interest
				bearing accounts and other permitted investments.
2. The cash management plan may be modified from
				time to time in order to reflect changes in Federal or State law or
				regulations.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 3 - CASH MANAGEMENT › Section 5:31-3.2 - Unpaid service charges; filing of tax liens

Current through Register Vol. 56, No. 14, July 15, 2024
Each authority shall treat unpaid service charges due and owing
				  to an authority as municipal charges subject to the provisions of
				  54:4-110 and 120, and 5-21 pertaining
				  to property tax collection, and
				  40:14B-42,
				  40:68A-18,
				  40A:26A-12,
				  40A:27-14 and
				  40A:31-12 pertaining to the imposition
				  of service charges by authorities. Each authority shall, at least once a year, or as
				  requested by the municipal tax collector, file a certification as may be required by
				  the tax collector to establish tax liens for all unpaid service charges due and
				  owing at the time the certification is filed.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 4 - APPROVAL AND PAYMENT OF CLAIMS › Section 5:31-4.1 - Payment of authority moneys; approval of claims

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All persons
				submitting a claim for payment from authority moneys shall present a detailed bill
				of items or demand, specifying how the bill or demand is made up, with the
				certification of the party claiming payment that it is correct, except payments may
				be made without certification by the vendor or claimant as to the bill or demand
				being correct under the following circumstances:
1. When payment to vendors is required in advance
				of the delivery of the following materials or services, if those materials or
				services cannot be obtained from any other source at comparable prices, including:
i. For such purposes as may be permitted pursuant
				to
N.J.S.A. 40A:5-16
.2 and
				16.3;
ii. Payment obligations to the
				State or Federal governments;
iii.
				Membership in a nonprofit organization;
iv. Educational courses, including, but not
				limited to, those where continuing education credits are awarded;
v. Registration for a convention hosted by a
				nonprofit organization; and
vi. Website
				hosting, including registration and maintenance of a domain
				name.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 4 - APPROVAL AND PAYMENT OF CLAIMS › Section 5:31-4.2 - Signatures on checks drawn upon the treasury of the authority; initiation and authorization of electronic funds transfers

Current through Register Vol. 56, No. 14, July 15, 2024
Every authority shall at each organizational meeting designate by
				  resolution the individuals whose signatures shall appear on checks drawn upon the
				  treasury of the authority and the individuals who shall initiate and authorize
				  transactions utilizing standard electronic funds transfer
				  technologies.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 5 - DATA PROCESSING › Section 5:31-5.1 - Electronic data processing systems for financial and revenue accounting

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All
				authorities and fire districts shall utilize electronic data processing systems or
				services for financial, payroll, and revenue accounting, and equipment used for cash
				receipting purposes, and are subject to the following provisions:
1. All systems or services shall provide that
				transaction recording and reporting elements shall provide audit trails and reports
				that meet generally accepted government accounting standards.
2. 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 N.J.S.A. 52:27BB-28 and any resolution for those
				revenues maintained by the system.
3.
				Each authority or fire district shall adopt and maintain appropriate internal
				control practices related to password or other security controls to ensure integrity
				of transactions, creating and maintaining back-up files, and documentation of system
				operations.
4. The requirements of this
				section shall be subject to review by the authority or fire district auditor as part
				of the annual review of internal controls. Failure to comply with this section shall
				be noted in the general comments and recommendations section of the annual
				audit.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 6 - SURETY BONDING › Section 5:31-6.1 - Surety bond for authority employees and officials

Current through Register Vol. 56, No. 14, July 15, 2024
The governing body of an authority shall by resolution designate
				  authority employees and officials required to furnish surety bonds and determine
				  minimum bonds for each such employee and official. The minimum requirement for the
				  surety bond shall be determined with due regard for the duties and responsibilities
				  of each such designated employee and official. Each person in the office handling
				  funds shall be bonded in accordance with their responsibility. An authority is
				  encouraged to provide a fidelity bond with faithful performance coverage for the
				  chief financial officer that is separate from the local unit's blanket fidelity
				  bond. The schedule set forth at
				  N.J.A.C.
				  5:30-8.2should be used as the basis for the bond
				  amount.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 6 - SURETY BONDING › Section 5:31-6.2 - Notice of occurrences

Current through Register Vol. 56, No. 14, July 15, 2024
It is the duty and responsibility of the individual holding
				  overall management responsibility for the authority's finances to advise the
				  Director of the Division of Local Government Services, as early as possible, in any
				  case where there might be a default in the payment of principal or interest of any
				  of the authority's debt obligations, or such a default has
				  occurred.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.1 - Accounting and financial reporting systems

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The accounting
				system consists of the methods and records established to identify, assemble,
				analyze, classify, record, and report an entity's transactions and to maintain
				accountability for the related assets and liabilities.
(b) An effective accounting system shall include a
				double-entry accounting for all transactions resulting in a general ledger, which
				shall be required for all authorities and special districts.
(c) Any accounting system adopted pursuant to (a)
				and (b) above must make it possible to present fairly and with full disclosure the
				financial position and results of financial operations of the funds and account
				groups of the reporting entity, in conformity with generally accepted accounting
				principles (GAAP) as promulgated by the Governmental Accounting Standards Board
				(GASB), 401 Merritt 7, P.O. Box 5116, Norwalk, CT 06856-5116, incorporated herein by
				reference, as may be amended from time to time, and demonstrate compliance with
				finance-related legal and contractual provisions, including applicable security and
				financing agreements.
(d) GAAP as it
				applies to proprietary funds of state and local governments, specifically as it
				applies to enterprise funds shall be used to account for an authority's ongoing
				activities, similar to those found in the private sector, where the intent of the
				governing body is that the costs (expenses, including depreciation) of providing
				services to the general public on a continuing basis be financed or recovered
				primarily through user charges and/or where the governing body has decided that
				periodic determination of revenue earned, expenses incurred, and/or net income is
				appropriate for capital maintenance, public policy, management control,
				accountability or other purposes.
(e)
				The financial statements of authorities shall be prepared in accordance with GAAP
				applicable to enterprise funds. Accordingly, revenues and expenses shall be
				recognized on the accrual basis. Revenues shall be recognized in the accounting
				period in which they are earned and become measurable; expenses shall be recognized
				in the period incurred, if measurable.
(f) The financial statements of special districts
				shall be prepared in accordance with GAAP applicable to governmental funds of state
				and local governments. Accordingly, revenues and expenditures shall be recognized on
				the modified accrual basis. Revenues shall be recognized in the accounting period in
				which they become available and measurable. Expenditures shall be recognized in the
				accounting period in which the fund liability is incurred, if measurable, except for
				unmatured interest on general long-term debt, which shall be recognized when due.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.2 - Establishment of an internal control structure

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The governing body
				of each authority and special district is responsible for establishing and
				maintaining an internal control structure. An entity's internal control structure
				shall consist of policies and procedures established to provide reasonable assurance
				that specific entity objectives and proper conduct of the entity's business with
				full accountability for the resources made available, shall be achieved. In
				fulfilling this responsibility, estimates and judgments by the governing body are
				required to assess the expected benefits and related costs of internal control
				structure policies and procedures.
(b)
				The objectives of an internal control structure should provide the governing body
				with reasonable, but not necessarily absolute, assurance that assets are safeguarded
				against loss from unauthorized use or disposition, and that transactions are
				executed in accordance with the respective governing body's authorization and
				recorded properly to permit the preparation of financial statements in accordance
				with GAAP.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.3 - Determining the financial reporting entity

Current through Register Vol. 56, No. 14, July 15, 2024
The definition of a financial reporting entity shall be based on
				  the concept of financial accountability. A primary objective of authorities' and
				  special districts' financial reporting should be to provide users of financial
				  statements with a basis for assessing the accountability of their respective
				  elected/appointed officials, responsible for the operations of their specially
				  created organizations. The financial statements of the reporting entity shall
				  provide for distinguishing between the following: primary government, component
				  unit, joint venture, jointly governed organization, or another stand-alone
				  government, by communicating such information to the users thereof. Such selection
				  of the financial reporting entity shall be made by the governing body pursuant to
				  GAAP criteria and be presented in the entity's financial statements pursuant to GAAP
				  reporting standards.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.4 - Interim financial reporting

Current through Register Vol. 56, No. 14, July 15, 2024
For both authorities and special districts, interim financial
				  reports should be comprised principally of statements that reflect current financial
				  position at the end of a month or quarter and compare actual financial results with
				  budgetary estimates and limitations. Appropriate interim financial statements and
				  reports of financial position, operating results, and other pertinent information
				  should be prepared primarily for purposes of governing body control of financial
				  operations, facilitate regulatory budgetary oversight, and where necessary for
				  external reporting purposes. All such interim reports need not be prepared on a GAAP
				  basis, unless internally required, but all such reports may be subject to audit
				  pursuant to 40A:5A-15.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.5 - Compliance with legal provisions

Current through Register Vol. 56, No. 14, July 15, 2024
Generally both authorities and special districts are required to
				  follow the applicable provisions of statute and at times such legal provisions may
				  conflict with GAAP. Conflicts between legal provisions and GAAP do not require
				  maintaining two accounting systems. Instead, the accounting system can be maintained
				  on a legal compliance basis, but should include sufficient additional information to
				  permit GAAP based reporting. Specifically, authorities and special districts both
				  have a prescribed budgetary basis to demonstrate legal compliance; notwithstanding,
				  sufficient supplemental records shall be kept to permit presentation of financial
				  statements in conformity with GAAP.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.6 - Auditing procedures and scope

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each authority and
				each special district shall conduct an annual audit for its respective fiscal year
				in accordance with: generally accepted auditing standards (GAAS), as promulgated by
				the American Institute of Certified Public Accountants (AICPA), 1211 Avenue of the
				Americas, New York, New York 10036, incorporated herein by reference, as amended and
				supplemented; Government Auditing Standards (often called the Yellow Book, General
				Accepted Government Auditing Standards, or GAGAS) issued by the Comptroller General
				of the United States and the United States General Accounting Office (GAO) at the
				United States General Accounting Office, Washington, D.C. 20548, and those audit
				standards having been adopted as rules by the Local Finance Board and the Division
				of Local Government Services, Department of Community Affairs, State of New Jersey.
				Those standards require that an independent auditor plan and perform an audit to
				obtain reasonable assurance that the financial statements of the reporting entity
				are free of material misstatement. These basic financial statements shall include,
				but not be limited to: a balance sheet and the related statements of revenues,
				expenses/expenditures and changes in retained earnings/fund balance and cash flows
				for the year then ended. Notwithstanding that such statements presented are the
				responsibility of the respective governing bodies involved, the independent auditor
				engaged to perform the audit, shall express an opinion on the financial statements
				taken as a whole.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.7 - 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 authority or special district where there is any shortage, embezzlement or
				fraud. 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.
				Notwithstanding, guidance on the independent auditor's responsibility for the
				detection of illegal acts and irregularities in an audit of financial statements is
				provided by generally accepted auditing standards.
(b) Confidential report blanks shall be submitted
				in triplicate; one copy for filing in this Division, one copy for filing with the
				authority/ special district 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 Appendix D, incorporated herein by reference) shall be prepared as
				follows:
1. Section One is a preliminary report
				and must be filed with the Division within forty-eight 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.
3. Section Three shall be filed
				upon final disposition of the case.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.8 - Audit reports and financial reporting practices for authorities and special districts

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The pronouncements
				of the Governmental Accounting Standards Board (GASB) and Financial Accounting
				Standards Board (FASB) shall control with respect to the application of GAAP for
				authorities and special districts, except that Local Finance Board rules as set
				forth in the New Jersey Administrative Code, including financial oversight and
				Division regulatory responsibilities, including review and approval of annual
				budgets pursuant to statute, shall apply and supersede where applicable.
(b) Financial reporting under GAAP requires
				general purpose financial statements (GPFS) and/or component unit financial
				statements (CUFS), as minimum acceptable presentation for governmental financial
				reporting purposes. The primary reporting entity focus of separately issued
				GPFS/CUFS should be on financial information aggregated by fund type, account group,
				and discretely presented component units. Such aggregated financial information
				presented shall constitute fair presentation in conformity with GAAP. If the
				governmental organization other than a primary government serves as a nucleus for
				its own reporting entity when it issues separate financial statements, then the
				reporting entity's financial statements should present the fund types and account
				groups as if it were a primary government (including its blended component units,
				which are, in substance, part of the primary government) and provide an overview of
				the discretely presented component units.
(c) The following statements shall be included in
				the GPFS/CUFS, as applicable, for authorities/special districts as necessary for
				separately issued financial statements to be presented fairly in conformity with
				GAAP:
1. Combined Balance Sheet--All Fund Types,
				Account Groups, and Discretely Presented Component Units;
2. Combined Statement of Revenues, Expenditures,
				and Changes in Fund Balances--All Governmental Fund Types and Discretely Presented
				Component Units;
3. Combined Statement
				of Revenues, Expenditures, and Changes in Fund Balances--Budget and Actual--General
				and Special Revenue Fund Types (and similar governmental fund types of the primary
				government for which annual budgets have been legally adopted);
4. Combined Statement of Revenues, Expenses, and
				Changes in Retained Earnings (or Equity)--All Proprietary Fund Types and Discretely
				Presented Component Units;
5. Combined
				Statement of Cash Flows--All Proprietary Fund Types and Discretely Presented
				Component Units;
6. Notes to the
				financial statements; and
7. Required
				supplementary information.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Section 5:31-7.9 - Audit of Federal and State grants

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The auditor's
				reporting responsibility in audits of Federal and State financial assistance is
				primarily driven by four levels of auditing standards and requirements that shall
				apply:
1. Generally accepted auditing standards
				issued by the American Institute of Certified Public Accounts;
2. Government Auditing Standards issued by the
				United States General Accounting Office;
3. Single Audit Act and applicable Federal OMB
				Circulars;
4. Single Audit policy for
				recipients of federal grants, state grants and state aid and applicable State of New
				Jersey OMB Circulars.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Appendix A

Current through Register Vol. 56, No. 14, July 15, 2024
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New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 7 - ACCOUNTING AND AUDITING › Appendix B

Current through Register Vol. 56, No. 14, July 15, 2024
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New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 8 - FINANCING › Section 5:31-8.1 - Refunding of bonds meeting certain conditions

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				Any local unit subject to the Local Authorities Fiscal Control Law (N.J.S.A.
				40A:5A-1 et seq.) meeting all of the conditions
				set forth below, may authorize and issue refunding bonds to refund long-term debt
				without prior approval of the Local Finance Board, where the issuance of said bonds
				realizes debt service savings on the outstanding obligations, provided all of the
				following conditions are present:
1. The present
				value savings is at least three percent;
2. The new debt service schedule shall be
				structured such that no annual debt service payment is more than it was under the
				original debt service schedule;
3. The
				final maturity of the refunding bond does not extend past the budget year in which
				such final maturity was originally scheduled to mature;
4. The debt savings are substantially level across
				the life of the refunding; and
5. The
				resolution allowing for the refunding is adopted by at least a two-thirds vote of
				the full membership of the governing body.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 31 - LOCAL AUTHORITIES › Subchapter 9 - MUNICIPAL PORT AUTHORITIES › Section 5:31-9.1 - Approval of municipal port authorities obligations; municipal guarantees of authority bonds; financing agreements; and leases, sales or dispositions of real property

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No authority shall
				adopt any final resolution authorizing:
1. The
				issuance of bonds, notes, mortgages or other obligations;
2. The entry into any agreement providing for a
				municipal guarantee of authority bonds;
3. The entry into any financing agreement;
				or
4. The entry into any agreement for
				the leasing, sale or disposition of real property unless and until it shall have
				obtained the approval of the Local Finance Board to do so.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 32 - LICENSURE OF CERTAIN LOCAL GOVERNMENT OFFICERS › Subchapter 1 - GENERAL PROVISIONS › Section 5:32-1.1 - Examination reviews

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Director, at his
				or her discretion, may authorize, as staffing permits, review of a particular
				examination by applicants who were not successful in passing an examination to
				obtain a certificate for municipal finance officer, county finance officer, tax
				collector, registered municipal clerk, qualified purchasing agent, or certified
				public works manager.
(b) If authorized
				by the Director, pursuant to (a) above, examination reviews shall be conducted by a
				representative or representatives of the Division of Local Government Services on a
				date and time and at a location determined by the Division. No one other than
				representatives of the Division of Local Government Services and the unsuccessful
				applicant or applicants for whom the review is being conducted shall be present at
				the examination review. No applicant will be permitted to take any notes or copy any
				questions or answers.
(c) Requests for
				examination reviews must be made in writing and must take place within 60 days of
				the date that appears on the notice of the mailing of the examination results. To
				arrange an examination review, an unsuccessful applicant must make a written request
				to the Division of Local Government Services, 101 South Broad Street, PO Box 803,
				Trenton, New Jersey 08625, proposing at least three alternative dates and times that
				would be convenient to attend such a review. If multiple applicants make written
				requests for review of an examination, the Division may allow said applicants to
				review their respective exams at a single location.
(d) At the discretion of the Director, as staffing
				permits, the examination review may consist of the following:
1. Informing the applicant of his or her grade and
				explaining the manner in which the grade has been calculated;
2. Informing the applicant of the grade required
				for passage of the examination; and
3.
				In limited circumstances, as staffing permits, the Division representative
				conducting the review may discuss and review a specific question with the
				applicant.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 32 - LICENSURE OF CERTAIN LOCAL GOVERNMENT OFFICERS › Subchapter 1 - GENERAL PROVISIONS › Section 5:32-1.2 - Carrying over continuing education credits to the following renewal period

Current through Register Vol. 56, No. 14, July 15, 2024
An individual holding a license or certificate issued by the
				  Division of Local Government Services may not carry over continuing education
				  contact hours to the next following renewal period, unless the expiration date of
				  the applicant's license or certificate was extended pursuant to
				  P.L.
				  2020, c. 34, in which case,
				  subject to procedures established by the Director, the applicant may, during the
				  period of time in which the statutory period of the license or certificate was
				  extended, carry over to the next renewal period a number of earned continuing
				  education contact hours not to exceed 50 percent of the total number of credits
				  required to renew the individual's license or certificate.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 32 - LICENSURE OF CERTAIN LOCAL GOVERNMENT OFFICERS › Subchapter 2 - MUNICIPAL AND COUNTY CHIEF FINANCIAL OFFICERS › Section 5:32-2.2 - Certification of municipal finance officers

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				No person shall be appointed or reappointed as a chief financial officer by a
				municipality unless they have been issued a municipal finance officer certificate by
				the Director of the Division of Local Government Services.
(b) Unless a person obtains municipal finance
				officer certification pursuant to the provisions of
				N.J.S.A.
				40A:9-140.4 or
				40A:9-140.11, candidates for municipal
				finance officer certification shall first successfully complete an examination
				administered by the Division. The examination shall be held on a semi-annual
				basis.
(c) Candidates for the municipal
				finance officer certification exam shall meet the age, citizenship, character, and
				education/experience requirements set forth in
				N.J.S.A.
				40A:9-140.2.a and b. In addition, candidates for
				examination shall furnish proof of successfully completing the following courses,
				provided by Rutgers, the State University of New Jersey or the Division of Local
				Government Services:
1. Municipal Finance
				Administration;
2. Municipal Current
				Fund Accounting I;
3. Municipal Current
				Fund Accounting II;
4. Municipal Capital
				and Trust Fund Accounting;
5. Municipal
				Utility Fund Accounting;
6. Municipal
				Budget Preparation and Control;
7.
				Principles of Financial Management; and
8. Preparation of Annual Financial
				Statements.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 32 - LICENSURE OF CERTAIN LOCAL GOVERNMENT OFFICERS › Subchapter 2 - MUNICIPAL AND COUNTY CHIEF FINANCIAL OFFICERS › Section 5:32-2.3 - Certification of county finance officers

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No
				person shall be appointed or reappointed as a chief financial officer by a county
				unless they have been issued a county finance officer certificate by the Director of
				the Division of Local Government Services.
(b) Candidates for county finance officer
				certification shall either:
1. Hold a municipal
				finance officer certification issued by the Director and furnish proof of
				successfully completing training provided by Rutgers, the State University of New
				Jersey or the Division of Local Government Services in county fiscal operations and,
				if the candidate applied for a municipal finance officer certificate prior to
				January 1, 1992, in the preparation of annual financial statements; or
2. Be licensed as a registered municipal
				accountant in the State of New Jersey and furnish proof of successfully completing
				training provided by Rutgers, the State University of New Jersey or the Division of
				Local Government Services in principles of financial management and county fiscal
				operations.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 32 - LICENSURE OF CERTAIN LOCAL GOVERNMENT OFFICERS › Subchapter 2 - MUNICIPAL AND COUNTY CHIEF FINANCIAL OFFICERS › Section 5:32-2.4 - Renewal of municipal and county chief finance officer certificates

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Renewal of a municipal finance officer
				certificate, except for a municipal finance officer certificate issued pursuant to
				either N.J.S.A. 40A:9-140.4 or
				40A:9-140.11, or county finance
				officer certificate shall be required every two years, subject to the applicant's
				fulfillment of continuing education requirements, the submission of an application
				for renewal, and payment of a $ 50.00 fee payable to the Treasurer, State of New
				Jersey. Renewal of municipal and county finance officer certificates shall be
				requested on a renewal form approved by and submitted to the Director.
1. Applicants shall obtain a minimum of 30
				continuing education contact hours in the subject areas of accounting, office
				management and ancillary subjects, ethics, financial and debt management, and
				budgeting. Said credits shall be approved by the Director as relevant to the subject
				matter area and the duties of a chief financial officer pursuant to
				N.J.S.A.
				40A:9-28.1 and
				40A:9-140.1.d and this chapter, with
				the following minimum contact hours for each subject area:
i. Four contact hours in the subject area of
				accounting;
ii. Four contact hours in
				the subject area of office management and ancillary subjects;
iii. Four contact hours in the subject area of
				ethics;
iv. Four contact hours in the
				subject area of financial and debt management;
v. Four contact hours in the subject area of
				budgeting; and
vi. For county finance
				officers, two contact hours in county fiscal operations.
New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 32 - LICENSURE OF CERTAIN LOCAL GOVERNMENT OFFICERS › Subchapter 2 - MUNICIPAL AND COUNTY CHIEF FINANCIAL OFFICERS › Section 5:32-2.6 - Vacancy in the office of chief financial officer; counties

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When a vacancy occurs in the office of chief
				financial officer following the appointment of a certified county finance officer to
				that office, the board of county commissioners or chief executive officer, as
				appropriate to the form of government, may appoint, for a period not to exceed one
				year commencing from the date of the vacancy, a person who does not possess a county
				finance officer certificate to serve as a temporary chief financial officer. A
				county may, with the approval of the Director, pursuant to (a)2 and 3 below, appoint
				or reappoint a temporary chief financial officer for an additional one-year term
				following the end of the first temporary appointment. No county shall employ a
				temporary chief financial officer for more than two consecutive one-year terms.
1. Prior to the end of the first-year appointment
				of a temporary chief financial officer, the county's governing body, or chief
				executive officer, as appropriate, shall request, in writing, permission from the
				Director to appoint or reappoint a temporary chief financial officer for an
				additional one-year term. A questionnaire approved by the Director shall be
				completed and included with the written request. The completed questionnaire and any
				documents submitted in support of said questionnaire shall be exempt from disclosure
				under the Open Public Records Act,
				N.J.S.A.
				47:1A-1 et seq.
2. Before granting approval to appoint or
				reappoint a temporary chief financial officer, the Director shall be satisfied that
				the individual is of good moral character and can satisfactorily fulfill the duties
				of a chief financial officer. Any request to the Director shall provide the
				following information:
i. The candidate's efforts
				to obtain a county finance officer certificate;
ii. Whether, as a condition of hiring, the county
				performed a criminal background check, credit check, and judgment search, along with
				the results thereof;
iii. An explanation
				of any repeat comments on the most recent annual audit, attributable to the office
				of chief financial officer; and
iv. An
				explanation of any complaints against the office of chief financial officer from a
				member of the public, or other persons, that are of a serious nature, such as those
				that involve potential, ongoing, or prior litigation.
3. The Director may request from the county's
				governing body or chief executive officer, as appropriate, such other information as
				may be necessary to determine the individual's good moral character and ability to
				fulfill the duties of a chief financial officer.