Fiscal Affairs Questions

Question 1

An Audit of the fiscal books of a local unit is required to be completed within what period of time according to NJSA 40A:5-4, the fiscal affairs law?

Answer 1

Within 6 months of the end of the fiscal year

Question 2

The Local Fiscal Affairs Law NJSA 40A:5-7 requires that a synopsis of audit along with recommendations shall be published by whom and within how many days after the receipt of the audit?

Answer 2

By Clerk within 30 days

Question 3

The Local Fiscal Affairs Law NJSA 40A:5-11 has Audit Services as an exception to public bidding

Answer 3

True

Question 4

The Local Fiscal Affairs Law NJSA 40A:5-17.1 permits a governing body to authorize an employee to issue tax refunds automatically if the amount is less than?

Answer 4

$10

Question 5

Every municipal tax assessor, prior to what date, shall notify by mail each taxpayer of the current assessment and preceding year’s taxes?

Answer 5

February 1st

Question 6

Tax Anticipation Notes shall mature in the case of County not later than ?

Answer 6

June 30th

Question 7

The Local Government Ethics Law provides that a municipality may have a Local Ethics Board or may have which of the following rules on possible violations?

Answer 7

Local Finance Board

Question 8

The financial disclosure statements required by the Local Ethics Law are submitted no later than

Answer 8

April 30th

Question 9

The Local Fiscal Affairs Law requires that a local unit adopt a Cash Management Plan and it further requires reporting by the CFO to the Governing Body of investment of activities how often

Answer 9

Monthly