New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 30 - LOCAL FINANCE BOARD
Subchapter 4 - CAPITAL BUDGETS AND CAPITAL IMPROVEMENT PROGRAMS
Section 5:30-4.6 - Review and certification

Universal Citation: NJ Admin Code 5:30-4.6

Current through Register Vol. 56, No. 18, September 16, 2024

(a) In reviewing a local unit's annual budget, the Director shall determine whether a capital budget and program are required, and if so, whether it has been included in the proper form. This review shall not extend to any determination as to the sufficiency or wisdom of its content except that, in the case of a local unit that owns its own water system, the capital budget and program shall identify the capital infrastructure improvement projects to be undertaken in accordance with the local unit's asset management plan pursuant to N.J.S.A. 58:31-7, along with the estimated costs and the anticipated financing by sources and amounts.

(b) If the required capital budget and programs are not included in accordance with the requirements of this regulation, approval of the entire budget may be withheld, pending local corrective action. With respect to capital infrastructure improvement projects to be undertaken in accordance with the local unit's asset management plan pursuant to N.J.S.A. 58:31-7, the Director may take into account the local unit's fiscal circumstances in determining appropriate measures for corrective action.

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