N.J. Admin. Code § 5:30-8.9

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

Section 5:30-8.9 - Annual Financial Statement; reporting requirement for charitable funds

(a) For a municipality's or county's current year property tax levy, the Annual Financial Statement shall report any charitable fund donations that are creditable toward the current year property tax levy as an offset to the same, including any spillover fund proceeds that may be credited toward the current year property tax levy. Pursuant to N.J.A.C. 5:30-18.3, municipal or county charitable contributions shall be deposited into a dedicated trust fund without independent spending authority.

(b) For county and school district taxes payable by a municipality, the municipality's Annual Financial Statement shall reflect any offset resulting from a county or school district charitable fund, including any spillover fund proceeds.

Adopted by 50 N.J.R. 2247(a), effective 9/21/2018

Amended by 51 N.J.R. 828(a), effective 4/30/2019