RMC EXAM (LATEST) || MOST RECENT EXAM 2026|2027
ACTUAL COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ |
GUARANTEED SUCCESS!! NEWEST EXAM | JUST RELEASED!!
What does the Local Budget Law deal with? -ANSWERS-NJSA 40A:4
deals with state regulations of Local Budget Matters
What two times can appropriation transfers occur? What vote is
required? -ANSWERS-In the last two months of the current budget
fiscal year, the first three months of the succeeding budget fiscal year,
by resolution passed by a 2/3 affirmative vote of the full membership of
the GB
Who can extend the introduction, approval and adoption dates for the
Municipal Budget beyond the dates set by law? -ANSWERS-The Director
of the DLGS with the approval of the Local Finance Board
Upon Introduction/First Reading, where is the Municipal Budget
Published? -ANSWERS-In the Municipality's official newspaper, at least
10 days prior the public hearing.
Who provides the Official Budget Document to Municipalities? -
ANSWERS-The Official Budget document is provided by the DLGS
,What vote is required for the adoption of Emergency Temporary
Appropriations? -ANSWERS-Resolution is adopted by 2/3 vote of the
full membership of the FB and filed with the Director of the DLGS
Who determines the date, time and place of the Public Hearing of the
Municipal Budget? -ANSWERS-The Governing Body
When are Emergency Appropriations made? -ANSWERS-Made for an
unforeseen purpose after the adoption of a budget, to meet a need to
protect or promote the public health, safety, morals or welfare. The
total amount of all emergency appropriations shall be included in the
budget of the next succeeding fiscal year.
When can a Municipality do a self-examination of their budget? -
ANSWERS-Municipalities in sound fiscal condition can bare the
responsibility of a self-examination of the budget. Normally granted by
the Director of the DLGS.
What information does the General Ledger contain? -ANSWERS-A
summary of all financial transactions as recorded on the original books
of entry.
What are Special Items of Revenue and Appropriations? -ANSWERS-
Funds which become available which were not anticipated at the time
of the adoption of the budget are approved by the Director for
insertion into the budget and available for expenditure. At the same
,time, the Director may approve the insertion of an appropriation item
of equal amount to offset the revenues.
Where do Unexpended Balances go at the end of the Fiscal Year? -
ANSWERS-Fund balance (Surplus)
Can the Municipal Budget or Amendment be adopted without the
approval from the Director of the Division of Local Government
Services? -ANSWERS-Yes, if the Municipality is eligible to conduct a self-
examination of the budget
What vote is required for the Budget Resolution to be passed upon
adoption? -ANSWERS-Majority of the full membership of the Governing
Body
Who establishes Accounting Principal Practices used by New Jersey
Municipalities? -ANSWERS-DLGS, DCA with the Local Finance Board
What is the primary purpose of the Municipal Budget? -ANSWERS-The
primary purpose of the official budget is to provide an orderly system
of financial control.
How is the temporary budget adopted by the Governing Body? When
can the document be amended? -ANSWERS-Body? By resolution, it may
be amended by resolution up to and including the 30* day of the
, month. Requires the affirmative vote of the majority of the full
membership of the Governing body.
Through what action of the Governing Body is an Emergency
Temporary Appropriation adopted? -ANSWERS-Resolution, affirmative
vote 2/3 full membership
When can the Municipality's Capital Budget be amended? -ANSWERS-
At any time during the year
What do the letters BANS stand for? -ANSWERS-Bond Anticipation
Notes- issued to obtain financing for projects that will eventually be
financed through the sale of long-term bonds.
Who is eligible to participate in the Uniform Shared Services and
Consolidation Act? -ANSWERS-Any local unit
How is the Local Assessment Improvement Ordinance Advertised? How
many days prior to the Public hearing must the advertisement be
published? -ANSWERS-In full or in summary, in the municipality's
official newspaper, at least 10 days prior to the public hearing.
What is the amount of time that must lapse between the first
reading/introduction and second reading/public hearing of a bond
ordinance? -ANSWERS-At least 10 days
ACTUAL COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ |
GUARANTEED SUCCESS!! NEWEST EXAM | JUST RELEASED!!
What does the Local Budget Law deal with? -ANSWERS-NJSA 40A:4
deals with state regulations of Local Budget Matters
What two times can appropriation transfers occur? What vote is
required? -ANSWERS-In the last two months of the current budget
fiscal year, the first three months of the succeeding budget fiscal year,
by resolution passed by a 2/3 affirmative vote of the full membership of
the GB
Who can extend the introduction, approval and adoption dates for the
Municipal Budget beyond the dates set by law? -ANSWERS-The Director
of the DLGS with the approval of the Local Finance Board
Upon Introduction/First Reading, where is the Municipal Budget
Published? -ANSWERS-In the Municipality's official newspaper, at least
10 days prior the public hearing.
Who provides the Official Budget Document to Municipalities? -
ANSWERS-The Official Budget document is provided by the DLGS
,What vote is required for the adoption of Emergency Temporary
Appropriations? -ANSWERS-Resolution is adopted by 2/3 vote of the
full membership of the FB and filed with the Director of the DLGS
Who determines the date, time and place of the Public Hearing of the
Municipal Budget? -ANSWERS-The Governing Body
When are Emergency Appropriations made? -ANSWERS-Made for an
unforeseen purpose after the adoption of a budget, to meet a need to
protect or promote the public health, safety, morals or welfare. The
total amount of all emergency appropriations shall be included in the
budget of the next succeeding fiscal year.
When can a Municipality do a self-examination of their budget? -
ANSWERS-Municipalities in sound fiscal condition can bare the
responsibility of a self-examination of the budget. Normally granted by
the Director of the DLGS.
What information does the General Ledger contain? -ANSWERS-A
summary of all financial transactions as recorded on the original books
of entry.
What are Special Items of Revenue and Appropriations? -ANSWERS-
Funds which become available which were not anticipated at the time
of the adoption of the budget are approved by the Director for
insertion into the budget and available for expenditure. At the same
,time, the Director may approve the insertion of an appropriation item
of equal amount to offset the revenues.
Where do Unexpended Balances go at the end of the Fiscal Year? -
ANSWERS-Fund balance (Surplus)
Can the Municipal Budget or Amendment be adopted without the
approval from the Director of the Division of Local Government
Services? -ANSWERS-Yes, if the Municipality is eligible to conduct a self-
examination of the budget
What vote is required for the Budget Resolution to be passed upon
adoption? -ANSWERS-Majority of the full membership of the Governing
Body
Who establishes Accounting Principal Practices used by New Jersey
Municipalities? -ANSWERS-DLGS, DCA with the Local Finance Board
What is the primary purpose of the Municipal Budget? -ANSWERS-The
primary purpose of the official budget is to provide an orderly system
of financial control.
How is the temporary budget adopted by the Governing Body? When
can the document be amended? -ANSWERS-Body? By resolution, it may
be amended by resolution up to and including the 30* day of the
, month. Requires the affirmative vote of the majority of the full
membership of the Governing body.
Through what action of the Governing Body is an Emergency
Temporary Appropriation adopted? -ANSWERS-Resolution, affirmative
vote 2/3 full membership
When can the Municipality's Capital Budget be amended? -ANSWERS-
At any time during the year
What do the letters BANS stand for? -ANSWERS-Bond Anticipation
Notes- issued to obtain financing for projects that will eventually be
financed through the sale of long-term bonds.
Who is eligible to participate in the Uniform Shared Services and
Consolidation Act? -ANSWERS-Any local unit
How is the Local Assessment Improvement Ordinance Advertised? How
many days prior to the Public hearing must the advertisement be
published? -ANSWERS-In full or in summary, in the municipality's
official newspaper, at least 10 days prior to the public hearing.
What is the amount of time that must lapse between the first
reading/introduction and second reading/public hearing of a bond
ordinance? -ANSWERS-At least 10 days
