New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 33 - TAX COLLECTION ADMINISTRATION
Subchapter 1 - TAX COLLECTION PROCEDURES
Section 5:33-1.5 - Third party transaction reconciliation accounts
Universal Citation: NJ Admin Code 5:33-1.5
Current through Register Vol. 56, No. 18, September 16, 2024
When check-based or electronic payments for multiple parcels made by property tax processing organizations and servicing organizations defined pursuant in 17:16F-15 cannot be correctly reconciled, the tax collector shall create a subsidiary ledger entry to record unreconciled items. The tax collector shall work to reconcile the discrepancy by the end of the fiscal year. All transactions necessary to reconcile entries shall be noted in the subsidiary ledger, and, when necessary, approved by the governing body.
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