NJ Budget Law specifically requires that the budget includes what type of statement?

The correct answer emphasizes the necessity for a budget to include a tabulated statement of anticipated revenues applicable to expenditures for which appropriations are made. This requirement is crucial because it ensures transparency and accountability within the municipality’s financial planning process. By clearly laying out anticipated revenues alongside the expenditures, the budget helps stakeholders understand how funding is allocated, where it is coming from, and how it aligns with planned spending.

Including a statement of anticipated revenues provides a clear framework for how the municipality plans to finance its services and operations, ensuring that expenditures are matched with expected income. This is a key component of responsible financial management, allowing both officials and residents to assess the sustainability of the budget before it is implemented. It reinforces the principle that budgets should be based on realistic revenue expectations to avoid deficits.

Other options, while they provide valuable information, do not address the specific requirement related to anticipated revenues as set forth by NJ Budget Law. A detailed breakdown of past expenditures and summaries of department budgets may provide context but do not fulfill the primary expectation of demonstrating the relationship between anticipated revenues and planned expenditures. Similarly, while a list of approved salaries is important, it alone does not contribute to the overall financial narrative required by the law. Thus, the focus on revenues applicable to expenditures is