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.
N.J. Stat. Ann. § 40A:4-42
Required appropriation for cash deficit
Known as the Local Budget Law
The act spans §§ 40A:4-1 to 40A:4-9 (170 sections).
L.1960, c. 169, s. 1, eff
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.