LegalFix
Sign In

Section 40A:4-42 - Required appropriation for cash deficit

NJ Rev Stat § 40A:4-42 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

40A:4-42. Required appropriation for cash deficit

An appropriation for "cash deficit of preceding year" shall appear in each annual budget in the amount by which the liabilities and cash disbursements of the local unit for expenditures in the fiscal year next preceding exceed the cash receipts and other realized revenues in such next preceding fiscal year, except to the extent that such lawful yearly expenditures have been provided for by surplus anticipated in the budget of such years.

L.1960, c. 169, s. 1, eff. Jan. 1, 1962.

Previous Section
Section 40A:4-41 - Computation of reserve for uncollected taxes.
Next Section
Section 40A:4-43 - Capital budgets; definition