New Jersey Statutes 40A:4-2. Definitions
Terms Used In New Jersey Statutes 40A:4-2
- budget: means the budget of a local unit. See New Jersey Statutes 40A:1-1
- fiscal year: means the period for which a local unit adopts a budget, as required pursuant to the "Local Budget Law" N. See New Jersey Statutes 40A:1-1
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- local unit: means a county or municipality. See New Jersey Statutes 40A:1-1
“budget” means the budget of a local unit.
“cash basis budget” means a budget prepared in accordance with this chapter, and in such form that based on the limitations, percentages and estimates hereinafter provided there will be sufficient cash collected to meet all debt service requirements, necessary operations of the local unit for the fiscal year and, in addition, provide for any mandatory payments required to be met during the fiscal year.
“county board” means the county board of taxation.
“debt service” means the payment by the local unit of the principal and interest on the obligations issued by it, whether permanent or temporary.
“governing body” means the board of chosen freeholders of a county, or the commission, council, board or body having control of the finances of a municipality.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.