What is the deadline for adopting a municipal budget in New Jersey?

The correct timeframe for adopting a municipal budget in New Jersey is by the end of the fiscal year. New Jersey municipalities are required to adopt their budgets prior to the end of the fiscal year to ensure that operations and expenses are aligned with planned financial resources. By doing so, municipalities can maintain fiscal responsibility and ensure continuity of services for their constituents.

Adopting the budget by the end of the fiscal year enables local governments to have their financial plans in place and prevents potential operational disruptions that could arise from a lack of approved funding. This practice emphasizes the importance of timely financial planning and management in municipal governance.

The other options suggest various timelines that do not align with New Jersey statutes regarding municipal budgets, as they either put the adoption deadline too early or too late in the fiscal cycle. Therefore, understanding the requirement for the budget to be adopted by the end of the fiscal year is key for effective municipal finance management in New Jersey.