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[Show more]The debt limit of a municipality may not exceed what percentage of the prior three years 
equalized assessed real property valuations - 3.5% 
The corrective action plan must describe how the local unit will correct the problems cited in the 
audit and be filed with DLGS by the - CFO 
Prior to any pu...
Preview 3 out of 27 pages
Add to cartThe debt limit of a municipality may not exceed what percentage of the prior three years 
equalized assessed real property valuations - 3.5% 
The corrective action plan must describe how the local unit will correct the problems cited in the 
audit and be filed with DLGS by the - CFO 
Prior to any pu...
Local units may not utilize or similar sites for the purposes of selling surplus 
property online,except if an item's value is below 15% of the local unit's bid threshold - True 
School debt is reported on the municipality's annual debt statement - True 
School districts are governed by NJSA 40A...
Preview 3 out of 19 pages
Add to cartLocal units may not utilize or similar sites for the purposes of selling surplus 
property online,except if an item's value is below 15% of the local unit's bid threshold - True 
School debt is reported on the municipality's annual debt statement - True 
School districts are governed by NJSA 40A...
A Governing Body may increase it's appropriations cap to ________ by passing a 
_______________________________ - 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...
Preview 2 out of 14 pages
Add to cartA Governing Body may increase it's appropriations cap to ________ by passing a 
_______________________________ - 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...
Every audit required by the Local Fiscal Affairs 40A:5-9 is required be completed by an 
accountant or auditor who holds an uncanceled license as: - Registered Municipal 
Accountant 
Local Budget Law, N.J.S.A. 40A: 4-3.1 (b) requires any municipality deciding to convert to a 
State Fiscal Year from ...
Preview 2 out of 10 pages
Add to cartEvery audit required by the Local Fiscal Affairs 40A:5-9 is required be completed by an 
accountant or auditor who holds an uncanceled license as: - Registered Municipal 
Accountant 
Local Budget Law, N.J.S.A. 40A: 4-3.1 (b) requires any municipality deciding to convert to a 
State Fiscal Year from ...
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