CMFO - Finance Admin (T/F)

CMFO - Finance Admin (T/F) Local units may not utilize or similar sites for the purposes of selling surplus property online,except if an item's value is below 15% of the local unit's bid threshold - True School debt is reported on the municipality's annual debt statement - True School districts are governed by NJSA 40A et seq - False The governing body of a municipality may change the type of school district by ordinance - False School debt limit is based on the district's grade configuration - True Municipal authorities may be created by resolution of the governing body - False Any fee collected by a mayor or designee, as authorized by statute, for the performance of a marriage or civil union ceremony must be authorized by ordinance and deposited into the municipal current fund - True Any appropriation of fund balance from an authority to the local governmental unit may not exceed 5% of the annual costs of operation of the authority - True School Districts do not have to provide 5% down payment on the amount of bonds to be sold for capital projects - True In Type II school districts the school debt is the obligation of the school district alone - True Type I school district members are elected for three year terms in April of each year - False All Type II school district budgets are subject to referendum in April of each year - False Municipalities may establish a dedicated by rider trust account for the payment of off-duty police details - True All Type II school district Board Members are elected for three year terms each April - False The Fair Labor Standards Act requires employers to pay excess overtime as soon after the the regular pay period practicable, and in no event beyond the next subsequent pay period - True In all regional school districts the school budget is submitted to the voters for approval - False Developers Escrow balances need not be refunded unless requested if the interest total is less than $100 per year - True All mayors may veto ordinances passed by the governing body - False School district operations are governed by N.J.S.A. 40A - False Newly appointed professionals that performs services under a professional service agreement, such as a consulting engineer on retainer, can be members of DCRP - False The Local Finance Board may grant waivers to Tax Levy Cap - False The Division of Local Government Services approves municipal contracts for professional property revaluations. - False The County Board of Taxation orders municipalities to undergo revaluations - True The Department of Community