Cmfo Study guides, Class notes & Summaries

CMFO EXAM - PRACTICE QUESTIONS WITH 100% CORRECT ANSWERS!!

CMFO Exam Questions And Complete Solutions (100% Correct)

CMFO EXAM REVIEW (MUNICIPAL FINANCE OFFICER REVIEW COURSE) QUIZZES & ANS RATED 100% CORRECT!!

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

CMFO Statutes Exam Questions & Answers, VERIFIED/ The Local Budget Law, N.J.S.A. 4OA:4—31(b) requires any municipality dec±ding to convert to a State Fiscal Year from a Calendar Fiscal Year perform the following: A. Apply to the Division of Local Government Services B. Apply to the Local Finance Board C. Apply to the Commissioner of the Department of Community Affairs D. All the above E. None of the above - -B. Apply to the Local Finance Board When converting to a State Fiscal Year...

CMFO Exam With Complete Solutions Graded A+.

CMFO HOMMA THEORY True or False: Due from State of NJ for Sr. Citizen deduction can be anticipated as a revenue in the current fund budget as non-cash surplus. ANSWER-True—Need approval from DLGS for non-cash surplus. Trust Assessment fund cash is first pledged to: ANSWER-1. Retirement of serial bonds 2. General capital 3. General taxpayers Municipal Library is paid on a __________________ Basis ANSWER-Quarterly Basis True or False: Budget transfer from the Capital Improvement...

Name the two types of local units of government in NJ - 1. Municipalities 2. Counties A municipality & county are essentially: - - corporations created by the State's Constitution and statutes A municipal corporation is designed to: - - aid the municipality in carrying out specific activities A municipal corporation has the following powers: (5) - 1. to sue & be sued, to defend & be defended in all courts of law 2. to adopt a common seal 3. to acquire property 4. to acquire, lease, and...

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 appropriations and revenues d. Utility Rates - c. Budget appropriations and revenues The reserve for uncollected taxes is: a. a line item for tax credits for seniors & veterans b. The tax rate of...

CMFO HOMMA THEORY EXAM COMPLETE QUESTIONS AND ANSWERS