40A:5A-10 - Submission of budget - New Jersey Statutes

40A:5A-10.   Submission of budget
     a.   Each authority shall submit a budget for each fiscal year to the director prior to its adoption thereof.  The budget shall comply with the terms and provisions of any bond resolutions, and shall be in such form and detail as to items of revenue, expenditure and other content as shall be required by law or by rules and regulations of the Local Finance Board.

    b.   The Local Finance Board shall prescribe by rule or regulation the procedure for the adoption of budgets by authorities.  The rules and regulations may include or be similar to any provisions of the "Local Budget Law" (N.J.S. 40A:4-1 et seq.) which the Local Finance Board shall deem to be practicable or necessary, and may further include any other provisions and requirements which the Local Finance Board shall deem appropriate or necessary.  The rules and regulations shall provide for approval or disapproval of a budget within 45 days of the director's receipt thereof.

    c.   The Local Finance Board shall also prescribe by rule or regulation the procedures and requirements for execution of any budget after adoption, and for the administration of financial affairs of authorities.  The rules and regulations may include, without limitation, any provisions of the "Local Budget Law" (N.J.S. 40A:4-1 et seq.), and the "Local Fiscal Affairs Law" (N.J.S. 40A:5-1 et seq.), which the Local Finance Board shall deem to be practicable and necessary.

    L. 1983,c.313, s.10; amended by L. 1987,c.319,s.5.