Cmfo local budget law - Study guides, Class notes & Summaries

Special improvement district budgets must be approved by - ANSWER-- the governing body of the municipality Type 1 school district budgets are approved by: - ANSWER-- the board of school estimates - its one of the differences between type 1 & type 2 Special district budgets (like Fire districts) are approved by: - ANSWER-- the voters Equalized valuation represents: - ANSWER-- the true value of all taxable property in the municipality - for distributing school aid Special meetings of...

Local Bond Law (Statute #) - ANSWER NJSA 40A:2 Local Budget Law (Statute #) - ANSWER NJSA 40A:4 Local Fiscal Affairs Law (Statute #) - ANSWER NJSA 40A:5 Local Public Contracts Law - ANSWER NJSA 40A:11 Encumbrance System (TAD#) - ANSWER TAD 85-1 Fixed Assets (TAD#) - ANSWER TAD 85-2 General Ledger (TAD#) - ANSWER TAD 85-3 Annual Audit Must be Conducted by a: - ANSWER Registered Municipal Accountant Accounting Formula(s) - ANSWER Assets = Liabilities + Fund Balance or Ass...

A Governing Body may increase it's appropriations cap to ________ by passing a _______________________________ - ANSWER-c. 3.5% by passing a cost of living adjustment ordinance The flexible chart of accounts is a coding system which categorizes: a. Debt service payments b. Capital Projects c. Budget appropriations and revenues d. Utility Rates - ANSWER-c. Budget appropriations and revenues The reserve for uncollected taxes is: a. a line item for tax credits for seniors & veterans b....

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