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Name the two types of local units of government in NJ - Answer 1. Municipalities 2. Counties A municipality & county are essentially: - Answer - corporations created by the State's Constitution and statutes A municipal corporation is designed to: - Answer - aid the municipality in carrying out specific activities A municipal corporation has the following powers: (5) - Answer 1. to sue & be sued, to defend & be defended in all courts of law 2. to adopt a common seal 3. to acq...

What are the four divisions of the Department of Community Affairs? - Answer 1. Division of Housing & Community Resources 2. Division of Codes & Standards 3. Division of Fire Safety 4. Division of Local Government Services What is the primary purpose of the Division of Local Government Services? - Answer - to maintain the financial integrity & solvency of all local government units (municipalities, authorities, special districts) What is the major component of the DLGS? And what is...

CMFO Exam Questions And Complete Solutions

Every Audit Required by the Local Fiscal Affairs Law is required to be completed by: - Answer An RMA (Registered Municipal Accountant) The statutory responsibility for filing the AFS is assigned to: - Answer CFO A local government officer that serves on the agency that approves development applications refers to a member of which board? - Answer Planning Board Cash management plan must be approved annual by the: - Answer Governing Body The local bond law stipulates that the m...

CMFO Exam - Current Fund Questions And Complete Answers

True T/F: Due from State of New Jersey for Senior citizen Deductions can be anticipated as a revenue in the current fund budget as non-cash surplus retirement of serial bonds Trust Assessment Fund cash is first pledged to: quarterly basis Municipal Library Levy is paid on a True T/F: budget transfers from Capital Improvement Fund are not permitted Corrective Action Plan Finding/Condition; Recommendation; explanation & corrective action; implementation date ...

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