New Jersey Administrative Code
Title 10 - HUMAN SERVICES
Chapter 37D - MANAGEMENT AND GOVERNING BODY STANDARDS
Subchapter 3 - GOVERNING BODY
Section 10:37D-3.2 - Governing board; financial responsibility
Universal Citation: NJ Admin Code 10:37D-3.2
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Each PA's governing board shall assume fiduciary responsibility for the financial management of the PA.
1. The governing board
shall authorize, approve and adopt the PA's annual budget.
2. The governing board shall approve all
capital projects.
3. The governing
board shall review and approve the PA's annual audits performed by an
independent public accountant.
4.
Each governing board shall formally designate a member to certify financial
statements by signature.
5. The
governing board shall monitor expenditure reports on at least a quarterly basis
to ensure the PA's financial solvency.
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