40A:4-58 - Appropriation transfers during last 2 months of fiscal year - New Jersey Statutes

40A:4-58.  Appropriation transfers during last 2 months of fiscal year
    a.  Should it become necessary, during the last 2 months of the fiscal year,  to expend for any of the purposes specified in the budget an amount in excess  of the respective sums appropriated therefor and there shall be an excess in  any appropriations over and above the amount deemed to be necessary to fulfill  the purpose of such appropriation, the governing body may, by resolution  setting forth the facts, adopted by not less than   2/3 vote of the full  membership thereof, transfer the amount of such excess to those appropriations  deemed to be insufficient;  no transfers may be made to appropriations for  contingent expenses or deferred charges.

    b.  No transfers may be made under this section from appropriations for

     1.  contingent expenses,

      2.  deferred charges,

      3.  cash deficit of preceding year,

      4.  reserve for uncollected taxes,

      5.  down payments,

      6.  capital improvement fund,

      7.  interest and redemption charges.

     L.1960, c. 169, s. 1, eff. Jan. 1, 1962.