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NJ QPA EXAM NEWEST ACTUAL EXAM COMPLETE 300
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
State of NJ has 5 types or levels of local government
considered "creatures of the state" created, altered,
and abolished by only state law. - ANSWER: 1. counties
2. municipalities
3. school districts
4. local authorities
5. special districts
Sources of Basic Law - ANSWER: 1. Session Laws (Pamphlet Laws)
2. Revised Statues of NJ
3. NJ Statutes Annotated
4. NJ Administrative Code
What are Pamphlet Laws? - ANSWER: Bills passed during each legislative session and
signed into law by the governor are assigned a chapter number in numerical order.
At end of each year these chapters are bound together and issued as a separate
volume. Generally called "session laws" and are officially in known in NJ as
"Pamphlet Laws" EVERY 2 YEARS CHAPTERS END OF 2 YR PERIOD ARE BOUND
What are Revised Statutes of NJ? - ANSWER: Period revisions which bring together
all of the general legislation currently in effect. Numbered so that all effective
statutes concerning the same subject are brought together in the same place
Numbering system is based upon a series of Titles, Chapters, and Sections Grouped
into 58 Titles,
Titles are divided into Chapters and Chapters are Divided
into Sections.
What are NJ Statutes Annotated? - ANSWER: Series of commercially available,
unofficial volumes of compiled and annotated laws published by West Publishing
among others. Includes all of the effective general laws of the state, usually using the
same basic numbering system as the Revised Statutes. Also has court cases.
What is NJ Administrative Code? - ANSWER: An official publication of the State of NJ
which contains all of the official rules, regulations and other documents issued by
State agencies and filed in accordance with the Administrative Procedure Act of
1968. It is kept up to date by periodic supplements, which provide replacement
pages
and obsolete pages to be discarded. NJ Register published twice monthly indexes
proposed and adopted rules and regulations.
What is the Division of Local Government Services? - ANSWER: DLGS is the most
important state agency for local government financial and management functions.
,State supervision of local government finance under the Division. Regularly issues
Local Finance Notices concerning the work of the agency and the problems of local
government, and requirements of law and regulations.
What is the Local Finance Board? - ANSWER: A component of the DLGS empowered
to study the entire field of local government. Supervises the financial affairs of
municipalities which fall under the Fiscal Supervision Act.
What are the functions of the Local Finance Board? - ANSWER: -Approve the creation
of local authorities
-Review the financing of proposed projects of such authorities
-Makes Recommendations in respect to such project financing following a public
hearing
-May also issue orders to authorities to correct deficits or to alleviate any financial
difficulties, including increasing rates or charges, or to dissolve an authority
Selected Functions of the DLGS - ANSWER: 1. Technical assistance to local units
regarding the LPCL
2. Approval of applications for establishment of petty cash funds and promulgation
of rules and regulations therto
3. Technical advice and assistance to registered municipal accountants and local
officials regarding, auditing, budgeting, accounting, purchasing, and numerous other
areas of financial management
4. Technical assistance to municipalities in planning & implementing consolidation of
services under shared
services laws.
5. Publication of LFNs containing useful information about statutory requirements,
Division rules and regulations, and statistical data.
6. Review & Register cooperative purchasing systems, approve competitive
contracting exceptions and pre-qualifications of bidders.
7. Cooperation with the Center for Government Services
at Rutgers in the development and presentation of training programs for local
elected & appointed officials, especially relating to examination and re certification.
8. Preparation & supervision of written examinations for certifications of municipal
tax collectors, municipal clerks, purchasing agents and finance officers, and public
works managers; determination of applicants' eligibility, and award of certifications
to qualifiers.
Capital Improvements - ANSWER: An item which as a useful life of at least 5 years
and for which notes or bonds can be sold.
An ordinance must be adopted to spend funds from the capital improvement fund
which plays an important role in financing the municipality's capital projects.
Capital Programs and Budgets - ANSWER: Capital Program - a multi-year plan and
schedule for capital projects with a prospective life of 5 years or more
and a cumulative annual cost of $25K, valuable management tool.
,Items a Capital Budget Includes - ANSWER: 1. acquisition and/or development of
land
2. acquisition of major equipment and personal property
3. acquisition, construction, improvement and/or renovations of buildings, roads,
utilities and other structures
4. improvements of public works
5. any other matter described in NJSA 40A:2-22 regardless of the financing sources
No local unit may adopt a bond ordinance unless - ANSWER: 1. It has already
adopted a capital budget as part of the annual budget
2. If prior to final adoption of its annual budget, by adoption of a temporary capital
budget which subsequetly shall be included in the annual budget
3. If a need is determined after adoption of the annual budget, by adoption of a
capital budget or amendment to the capital budget.
POPULATION:
Over 10,000/6 YEAR BUDGET
Under 10,000/ 3 YEAR BUDGET
Flexible Chart of Accounts (FCOA) - ANSWER: A coding system which categorizes
budget appropriations
and revenues with a high degree of flexibility.
Every fund must contain an identification of all accounts and such accounts must be
classified according to assets,
liabilities, reserves, and fund balance (surplus).
Each Account is a result of incomes, expenditure, governing body action (i.e. budget
adoption, etc) or other legal action.
General Fixed Assets - ANSWER: Assets that have useful lives extending beyond a
single reporting period. LAND AND REAL PROPERTY COMMODITIES Minimum cost of
$5K, and useful life of 5 years
The Annual Audit - ANSWER: An independent annual audit is performed by a
Registered
Municipal Accountant. The annual audit is due within 6 months of the end of the
fiscal year being audited
ADOPT A CORRECTIVE ACTION PLAN
Petty Cash Fund - ANSWER: Small amount of petty cash normally required so that
certain purchases may be expeditiously made. (Stamps,
keys, supplies etc.). Funds should not exceed $500.
Maximum draw down of $50 per individual purchase.
Encumbrance of Funds - ANSWER: An obligation incurred by a municipality, which is
generally indicated on a purchase order. It may take 3 months or longer between the
time an order is placed and payment is made and charged to the proper budget
appropriation.
, By using the purchase order system, obligations are charged to the budget at the
time incurred as opposed to the time of the payment.
Recording the purchase order cost is placed against the unencumbered balances of
an account to burden the account with obligations. The obligation restricts further
charges to the account unless unencumbered balance is adequate for such future
charges.
CERTIFICATiON OF FUNDS
ENCUMBRANCE OF FUNDS - NOTHING ELSE AGAINST FUNDS, SET ASIDE
Purposeful Overspending by Officials - ANSWER: A Crime for a public official or
employee to purposely and knowingly disburse moneys or incur obligations in excess
of appropriations. Commits a crime in the 4th Degree.
Local Government Ethics Law - ANSWER: NJSA 40A:9-22 1 et seq. to provide a
method of assuring
that standards of ethical conduct and financial disclosure
requirements for local government officers and employees
be clear, consistent, uniform and enforceable.
Designed to provide local officers or employees with advice and information
concerning possible conflicts of interest, which might arise in the conduct of their
public duties.
Financial Disclosure Statement (FDS) - ANSWER: Local government officials must file
their FDS with the municipal or county clerk and with the Local Finance Board by
April 30th of each year.
Financial Disclosure Statement must include the following
(LFN 2012-8) - ANSWER: 1. each source of earned or unearned income exceeding $2k
received by the local officer or any member of his or her immediate family during the
preceding calendar year
2. each source of fees and honorarium exceeding $250 from any single source for
personal appearances, speeches or writings by the local officer or any member of his
immediate family during the preceding calendar year
3. Each source of gifts, reimbursements or prepaid expenses $400 from any single
source excluding relatives, received by the local officer or any member of his or her
immediate family during the preceding year.
4. The name and address of all business organizations in which the government local
officer or any member of his or her immediate family held and interest during the
preceding calendar year.
5. The address and brief description of all real property in which the local officer or
immediate family member held an interest during the preceding calendar year.
The Local Finance Board - ANSWER: Has jurisdiction to govern and guide the conduct
of Local government officers or employees regarding violations of the provisions of
the Local Government Ethics Law who are not otherwise regulated by a county or
municipal code of ethics.
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