Cmfo exam Study guides, Class notes & Summaries

True - T/F: Due from State of New Jersey for Senior citizen Deductions can be anticipated as a revenue in the current fund budget as non-cash surplus retirement of serial bonds - Trust Assessment Fund cash is first pledged to: quarterly basis - Municipal Library Levy is paid on a True - T/F: budget transfers from Capital Improvement Fund are not permitted Corrective Action Plan - Finding/Condition; Recommendation; explanation & corrective action; implementation date

Name the two types of local units of government in NJ - 1. Municipalities 2. Counties A municipality & county are essentially: - - corporations created by the State's Constitution and statutes A municipal corporation is designed to: - - aid the municipality in carrying out specific activities A municipal corporation has the following powers: (5) - 1. to sue & be sued, to defend & be defended in all courts of law 2. to adopt a common seal 3. to acquire property 4. to acquire, lease, and...

CMFO Exam

Registered Municipal Accountant correct answers Every audit required by the Local Fiscal Affairs Law N.J.S.A. 40A:5-9 is required to be completed by an accountant or auditor who holds an uncanceled license as: Chief Financial Officer correct answers The statutory responsibility for the filing of the Unaudited Annual Financial Statements is assigned to which local government official by N.J.S.A. 40A:5-12 Planning Board correct answers As defined in the "Local Government Ethics Law" specif...

CMFO Exam - Practice Questions & Answers 2023(A+GRADED 100%VERIFIED)

CMFO Exam questions with correct answers

Planning Board - Answer As defined in the "Local Government Ethics Law" specifically, N.J.S.A.40A:9- 22.3 g, a "Local government officer" that serves on a local government agency that approves development applications would refer to a member of which of the following boards Governing Body - Answer The "Local Fiscal Affairs Law" mandates that the Cash Management Plan be approved annually by the The Local Bond Law, specifically N.J.S.A. 40A:2-26, stipulates that the maturities of a...

True T/F: Due from State of New Jersey for Senior citizen Deductions can be anticipated as a revenue in the current fund budget as non-cash surplus retirement of serial bonds Trust Assessment Fund cash is first pledged to: quarterly basis Municipal Library Levy is paid on a True T/F: budget transfers from Capital Improvement Fund are not permitted Corrective Action Plan Finding/Condition; Recommendation; explanation & corrective action; implementation date ...

Every Audit Required by the Local Fiscal Affairs Law is required to be completed by: correct answers An RMA (Registered Municipal Accountant) The statutory responsibility for filing the AFS is assigned to: correct answers CFO A local government officer that serves on the agency that approves development applications refers to a member of which board? correct answers Planning Board Cash management plan must be approved annual by the: correct answers Governing Body The local bond law s...

CMFO Exam - Current Fund questions with correct answers