NJ QPA STUDY SET TEST // NJ QPA STUDY SET TEST 250+
QUESTIONS AND CORRECT ANSWERS 2023-2025//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. - CORRECT ANSWER-1. counties
2. municipalities
3. school districts
4. local authorities
5. special districts
Sources of Basic Law - CORRECT ANSWER-1. Session Laws (Pamphlet Laws)
2. Revised Statues of NJ
3. NJ Statutes Annotated
4. NJ Administrative Code
What are Pamphlet Laws? - CORRECT 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? - CORRECT 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? - CORRECT 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? - CORRECT 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? - CORRECT 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? - CORRECT 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? - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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) - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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.
