N.J. Admin. Code § 5:31-2.5

Current through Register Vol. 56, No. 11, June 3, 2024

Section 5:31-2.5 - Late approval of budget; temporary appropriations

(a) The Director may approve any authority budget not filed with the Board within the time prescribed, provided a resolution of the authority setting forth the reasons for the delay, satisfactory to the Director, shall accompany the proposed budget.

(b) All actions taken by the Director and authority, with respect to approval by the Director and adoption by the authority, shall be taken forthwith and as if the filing by the authority had occurred on time.

(c) The governing body may and, if any contracts, commitments or payments are required to be made prior to the adoption of the budget, shall, by resolution adopted prior to the beginning of the fiscal year or within the first 30 days of the fiscal year make temporary appropriations to provide for the period between the beginning of the fiscal year and the adoption of the budget. The total appropriations made in accordance with the provision of this section shall not exceed the total of the appropriations made for all purposes in the budget for the preceding fiscal year.

(d) Nothing contained in these regulations shall prevent or relieve the governing body from making appropriations for all interest and debt redemption charges maturing subsequent to the end of a fiscal year and prior to the date of adoption of the budget.

(e) All resolutions referred to in this section shall be adopted by not less than a majority vote of the full membership of the governing body.

N.J. Admin. Code § 5:31-2.5

Amended by R.1985 d.511, effective 10/21/1985.
See: 17 New Jersey Register 1823(a), 17 New Jersey Register 2537(a).
(e) added.