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MUNICIPAL FINANCE ADMIN. QUESTIONS AND CORRECT ANSWERS

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MUNICIPAL FINANCE ADMIN. QUESTIONS AND CORRECT ANSWERS

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MUNICIPAL FINANCE ADMIN.
QUESTIONS AND CORRECT
ANSWERS
FiveA2TypesA2ofA2LocalA2Gov'tA2-A2Ans--1.A2counties
2.A2municipalities
3.A2schoolA2districts
4.A2localA2authorities
5.A2specialA2districts

HowA2manyA2countiesA2areA2thereA2inA2NewA2Jersey?A2-A2Ans--Twenty-oneA2(21)

HowA2areA2countiesA2classified?A2-A2Ans--
ClassifiedA2onA2theA2basisA2ofA2size,A2geographicalA2area,A2andA2populationA2density

HowA2manyA2municipalitiesA2areA2thereA2inA2NewA2Jersey?A2-A2Ans--FiveA2hundredA2sixty-
fiveA2(565)

FourA2formsA2ofA2LocalA2Gov'tA2-A2Ans--1.A2CommissionA2ActA2ofA21911A2(WalshA2Act)
2.A2MunicipalA2ManagerA2ActA2ofA21923
3.A2OptionalA2MunicipalA2ChartA2LawA2(FaulknerA2Act)
A2-A2council-manager
A2-A2council-mayor
A2-A2"smallA2municipalities"A2(pop.A2underA212,000)
A2-A2mayor-council-admin.
4.A2LegislativeA2changes

PropertyA2TaxesA2-A2Ans--MajorA2sourceA2ofA2revenueA2forA2localA2government

MunicipalA2CertifiedA2FinanceA2OfficerA2CertificationA2LawA2-A2Ans--
ChapterA2110A2ofA2theA2LawsA2ofA21988

FinanceA2isA2aA2....A2-A2Ans--WhatA2isA2aA2staffA2activity?

WhatA2doesA2PEERAA2standA2for?A2-A2Ans--WhatA2isA2theA2acronymA2PublicA2Employer-
EmployeeA2RelationsA2ActA2ofA21968A2(CollectiveA2Bargaining)

WhatA2areA2theA2primaryA2functionsA2ofA2theA2TaxA2Collector?A2-A2Ans--
1.A2receiveA2&A2collectA2moneysA2assessedA2orA2raisedA2byA2taxationA2orA2assessment
2.A2enterA2intoA2theA2suitableA2booksA2ofA2accountsA2allA2receiptsA2receivedA2inA2aA2day
3.A2depositA2suchA2publicA2moneysA2inA2anA2authorizedA2publicA2depository
4.A2prepareA2monthlyA2reportsA2toA2theA2governingA2bodyA2
5.A2prepareA2&A2furnishA2aA2detailedA2listA2ofA2allA2delinquentA2taxA2payersA2

, 6.A2conductA2aA2taxA2saleA2ofA2delinquentA2taxes

WhatA2areA2theA2primaryA2functionsA2ofA2theA2TaxA2Assessor?*A2-A2Ans--
1.A2ascertainA2theA2namesA2ofA2ownersA2ofA2allA2realA2property
2.A2determineA2theA2fullA2andA2fairA2valueA2ofA2eachA2realA2property
3.A2onA2orA2beforeA2Jan.A210,A2auditA2&A2determineA2theA2taxableA2valuationsA2ofA2eachA2t
axpayer
4.A2determineA2theA2taxableA2valueA2ofA2tangibleA2personalA2propertyA2notA2usedA2inA2busi
nessA2
5.A2compileA2aA2taxA2listA2andA2duplicate

WhatA2doesA2theA2DLGSA2standA2for?A2-A2Ans--
DivisionA2ofA2LocalA2GovernmentA2Services

NameA2theA2fiveA2majorA2componentsA2ofA2theA2DLGS?A2-A2Ans--
1.A2BureauA2ofA2FinancialA2&A2Assistance
2.A2BureauA2ofA2LocalA2ManagementA2Services
3.A2BureauA2ofA2AuthorityA2Regulation
4.A2OfficeA2ofA2LocalA2GovernmentA2Research
5.A2LocalA2FinanceA2Board

WhatA2isA2theA2strongestA2powerA2ofA2theA2LocalA2FinanceA2Board?A2-A2Ans--
TheA2supervisionA2ofA2financialA2affairsA2ofA2aA2municipalityA2(strongestA2powerA2ofA2whatA
2division)


DefineA2budgetA2-A2Ans--
AA2financialA2planA2involvingA2theA2estimateA2ofA2expendituresA2andA2theA2proposedA2met
hodA2ofA2financingA2theseA2expendituresA2throughA2variousA2revenueA2sources.

WhatA2mustA2beA2doneA2toA2aA2budgetA2forA2thereA2toA2beA2authorityA2toA2spendA2orA2tax?
A2-A2Ans--
ADOPTIONA2ofA2whatA2needsA2toA2beA2doneA2forA2aA2municipalityA2toA2haveA2theA2authori
tyA2toA2spendA2orA2tax?

WhoA2hasA2theA2authorityA2toA2approveA2theA2insertionA2ofA2anyA2specialA2itemA2ofA2reven
ueA2inA2aA2budget?A2-A2Ans--
TheA2DirectorA2ofA2theA2DLGSA2hasA2theA2authorityA2toA2doA2whatA2inA2regardsA2toA2budge
ts?

WhatA2isA2theA2statuteA2forA2theA2insertionA2ofA2anyA2specialA2itemA2ofA2revenueA2inA2theA2
budget?A2-A2Ans--N.J.S.A.A240A:4-87

WhatA2isA2theA2insertionA2ofA2anyA2specialA2itemA2ofA2revenueA2inA2theA2budgetA2referredA2
toA2as?A2-A2Ans--WhatA2areA2ChapterA2159A2Resolutions?

WhatA2areA2theA2EssentialsA2ofA2BudgetA2Preparations?*A2-A2Ans--1.A2budgetA2calendar

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