N.J. Admin. Code § 5:30-13.7

Current through Register Vol. 56, No. 21, November 4, 2024

Section 5:30-13.7 - Annual municipal budget approval

(a) The governing body shall provide a copy of its introduced budget and all related documents to the financial review board.

(b) Following receipt of the introduced budget and the introduction of any amendments by the governing body, the board shall review the budget and approve the budget either as submitted or with such modifications as to anticipated revenues or budget appropriations as the board may deem appropriate.

(c) The governing body of the municipality shall incorporate any modifications required by the board into the budget and shall then proceed to adopt the budget in accordance with the "Local Budget Law," 40A:4-1 et seq.

(d) Notwithstanding the provisions of the "Local Budget Law," 40A:4-1 et seq., actions of the board that result in budget changes shall, if necessary, extend otherwise binding statutory time periods to an appropriate date set by the board.

(e) If the mayor or the governing body, or both, fail to comply with their statutory responsibilities regarding the preparation and adoption of a budget for the municipality by the times set forth herein or in the "Local Budget Law," 40A:4-1 et seq., the board may request that the Local Finance Board authorize the financial review board to exercise those responsibilities on behalf of the municipality.

1. The Local Finance Board must provide the mayor or the governing body, or both, an opportunity to be heard on this matter.

2. Following this hearing and a determination by the Local Finance Board that the mayor or the governing body, or both, failed to comply with their statutory responsibilities, the board shall be authorized to exercise these responsibilities on behalf of the municipality.

N.J. Admin. Code § 5:30-13.7

Amended by R.2003 d.404, effective 10/20/2003.
See: 35 New Jersey Register 2427(a), 35 New Jersey Register 4862(b).
Substituted references to the municipality for references to the City throughout.