N.J. Admin. Code § 5:30-13.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 5:30-13.2 - Powers and responsibilities

(a) The board shall have the power and responsibility to:

1. Approve, implement and enforce a financial plan of the municipality, including monitoring compliance;

2. Approve the annual budget of the municipality;

3. Approve the issuance of debt by the municipality;

4. Approve labor and other contracts entered into by the municipality;

5. Obtain information regarding the financial condition and needs of the municipality, including such financial statements and projections, budgetary data, and information and management reports and materials as the board may deem necessary or desirable;

6. Inspect, copy and audit such books and records of the municipality as the board shall deem necessary or desirable;

7. Require the appearance of any municipal official or employee before the board to answer questions concerning the finances of the municipality;

8. Adopt policies and procedures for the conduct of the board's activities; and

9. Provide the Local Finance Board, the Governor and the Legislature with an evaluation of the municipality's financial condition, and recommendations for legislative actions that, in the opinion of the board, are necessary to assure economic redevelopment that will lead to the fiscal recovery of the municipality.

N.J. Admin. Code § 5:30-13.2

Amended by R.2003 d.404, effective 10/20/2003.
See: 35 New Jersey Register 2427(a), 35 New Jersey Register 4862(b).
Substituted references to the municipality for references to the City and the City of Camden throughout.