N.J. Admin. Code § 5:30-17.5

Current through Register Vol. 56, No. 23, December 2, 2024

Section 5:30-17.5 - Eligibility requirements for disbursing organizations

(a) Disbursing organizations shall meet the following conditions and/or requirements:

1. The disbursing organization shall provide evidence of satisfactory internal control, evidence of which shall be required by the CFO. Such evidence may be:

i. The disbursing organization's Report on Policies and Procedures Placed in Operation and Tests of Operating Effectiveness, performed pursuant to AICPA (American Institute of Certified Public Accountants) Statement on Standards for Attestation Engagements No. 18, or such successor standards as may be promulgated by AICPA;

ii. A completed SysTrust[TM] examination with an unqualified report on Availability, Security, Integrity and Maintainability completed in accordance with AICPA/CICA (Canadian Institute of Chartered Accountants) SysTrust[TM] Principles and Criteria for Systems Reliability; or

iii. Evidence of compliance with a mutually agreed upon external standard for determination of the sufficiency of a system of internal controls that support the work to be performed in accordance with the policies established by the local unit.

2. For third-party disbursement of payroll and related funds, all disbursing organizations shall have offices within a distance acceptable to the CFO of the local unit such that the physical delivery and receipt of documents and records can occur in a manner that assures the delivery of paychecks on regularly scheduled paydays.

N.J. Admin. Code § 5:30-17.5

Amended by 48 N.J.R. 2607(a), effective 12/5/2016

Amended by 55 N.J.R. 1690(a), effective 8/7/2023