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Definition
A Plan for action expressed both in financial and operational terms for a fixed period of time. Includes resources/revenues and expenditures/appropriations. It is as much a policy statement as a financial document. |
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Definition
1. Budget
2. Capital Ordinance
3. Dedication by Rider (Trust Fund) |
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| When working on a budget you are working on at least ______. |
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Definition
3 total
Prior year
Current year
Futuer year |
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Definition
1. financial control
2. a policy instrument
3. a management tool
4. an economic tool |
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| A critical focus of the budget is the amount of _____________ Taxes |
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Definition
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| General activities adn functions of government are budgeted and financed in the _____ fund section of the budget |
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Definition
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Term
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Definition
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| Statuturoy date for Adoption of a temporary appropriation |
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Definition
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| Statutory Date for Introduce and approving the budget |
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Definition
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| Statutory Date for Publication (at least 10 days before hearing) |
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| Statutory Date for Budget hearing (28 days after approval) |
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Definition
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| Statutory Date for Adoption of budget |
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| Statutory Date for transmittal of budget to County Board of Taxation |
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Definition
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Term
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Definition
Current year - last 2 months
Reserve year - first 3 months |
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| One of the most common problems in the budget preparation is... |
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Definition
| Waiting to long to begin the process |
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Term
| ________ increases are one of the primary reasons for increasing municipal budgets |
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Definition
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Term
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Definition
| Public Employee Relations Commission |
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| The Local Budget Law allows an appropriation for contingent exprenses in an amount not more than ___% of the total approproations for operationg purposes |
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Definition
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| The governing body may not adopt a bond ordinance unless it is contained in an approved ___________ budget |
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Definition
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| Statutory Expenditures include payments to |
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Definition
Public Employees Retirement System
Social Security
Consolidated Police and Firemens Pension Fund
Police and Firemens Retirement System and Unemployment Compensation |
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| The judgment appropriation covers |
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Definition
| payments required by court order or amounts set aside in anticipation of a court order |
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Definition
| The excess of quick assets including cash, investments, state or other public aid receivable, and deferred charges over legal and demand liabilities |
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| The temp budget may not exceed 26.25% of the total of all budget appropriations of the preceding year less.... |
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Definition
debt service
capital improvements fund
public assistance |
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Term
| A public hearing is required on any amendment that... |
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Definition
1. Adds a new item of appropriation in the amount in excess of 1% of the total amount of appropriations as stated in the approved budget
2. Increase or decreases any item of appropriation by more than 10%
3. Increases the amount to be raised by taxes by more than 5%, unless the same is made to include an emergency temp appropriation only |
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Term
| The director examines teh budget with reference to all revenues adn the following approp. |
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Definition
Payment of interest and dept redemption
deferred charges and statutory expenditures
cash deficit of preceding year
reserve for uncollected taxes
other reserves and non-disbursement items |
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Term
| Every CFO must submit a ______ check list to the Division. |
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Definition
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| There are 4 statutory prvisions permitting amendments which are... |
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Definition
1. Special Items of Revenue and Appropriations - Chapter 159
2. Change of Title of Text of Appropriation
3. Official Transfers
4. Emergency Appropriations |
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Term
| An emergency may be made only for a pressing need to protect or promote the... |
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Definition
public health
safety
morals
welfare
or to provide temp housing or public assistance |
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