N.J. Admin. Code § 6A:23A-16.3
Current through Register Vol. 57, No. 1, January 6, 2025
Section 6A:23A-16.3 - Conflicts between legal provisions and GAAP(a) If financial statements prepared in conformity with GAAP do not demonstrate finance-related legal and Federal or State contractual compliance, a district board of education or charter school or renaissance school project board of trustees shall present such additional schedules and narrative explanations in the ACFR as may be necessary to report its legal compliance responsibilities and accountabilities.(b) Each district board of education and charter school and renaissance school project board of trustees shall maintain the accounting system on a legal-compliance basis, and shall include sufficient additional records to permit GAAP-based reporting.N.J. Admin. Code § 6A:23A-16.3
Amended by 49 N.J.R. 1079(a), effective 5/1/2017Amended by 56 N.J.R. 2166(a), effective 11/4/2024