New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 30 - LOCAL FINANCE BOARD
Subchapter 17 - ELECTRONIC DISBURSEMENT CONTROLS FOR AUTHORIZED THIRD-PARTY DISBURSEMENT SERVICES
Section 5:30-17.5 - Eligibility requirements for disbursing organizations
Universal Citation: NJ Admin Code 5:30-17.5
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Disbursing organizations shall meet the following conditions and/or requirements:
1.
The disbursing organization shall provide evidence of satisfactory internal
control, evidence of which shall be required by the CFO. Such evidence may be:
i. The disbursing organization's Report on
Policies and Procedures Placed in Operation and Tests of Operating
Effectiveness, performed pursuant to AICPA (American Institute of Certified
Public Accountants) Statement on Standards for Attestation Engagements No. 18,
or such successor standards as may be promulgated by AICPA;
ii. A completed SysTrust[TM] examination with
an unqualified report on Availability, Security, Integrity and Maintainability
completed in accordance with AICPA/CICA (Canadian Institute of Chartered
Accountants) SysTrust[TM] Principles and Criteria for Systems Reliability;
or
iii. Evidence of compliance with
a mutually agreed upon external standard for determination of the sufficiency
of a system of internal controls that support the work to be performed in
accordance with the policies established by the local unit.
2. For third-party disbursement of payroll
and related funds, all disbursing organizations shall have offices within a
distance acceptable to the CFO of the local unit such that the physical
delivery and receipt of documents and records can occur in a manner that
assures the delivery of paychecks on regularly scheduled
paydays.
Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
