How long must the temporary budget resolution be adopted after the beginning of the fiscal year?

Prepare for the New Jersey CMFO Statutes Exam. Access multiple choice questions and flashcards with hints and detailed explanations. Excel in your exam!

The correct answer is thirty days because municipal finance requirements in New Jersey dictate that a temporary budget resolution must be adopted within this timeframe following the commencement of the fiscal year. This provision ensures that local government operations can be funded and conducted effectively while the final budget is still under preparation.

In New Jersey, the adoption of a temporary budget is crucial for continuity of services and management of municipal funds, emphasizing the importance of addressing essential operational costs even before the final budget is established. By mandating this specific time frame, the law allows municipalities to have a structured way to manage expenditures during the early part of the fiscal year, ensuring that necessary services are not disrupted.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy