N.J. Admin. Code § 5:30-9A.3

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

Section 5:30-9A.3 - Authorization to use standard electronic funds transfer technologies for electronic funds transfers

(a) The governing body of a local unit, local authority, board of education, or county college may adopt policies that permit its specifically named officers and employees to use standard electronic funds transfer technologies for electronic funds transfers, except that boards of education may not utilize procurement cards, charge cards, or charge accounts. Such policies shall be in writing and shall be approved by resolution or ordinance of the governing body, as appropriate.

No governing body may adopt policies that fail to implement, at a minimum, the internal controls set forth in this chapter.

(b) This section does not authorize local units, local authorities, boards of education, or county colleges to exceed the maximum bid thresholds or other limits set forth in the Local Public Contracts Law, N.J.S.A. 40A:11-1 et seq., Public School Contracts Law, N.J.S.A. 18A:18A-1 et seq., or the County College Contracts Law, N.J.S.A. 18A:64A-25.1 et seq.

(c) Procurement card issuers and providers of ACH and wire transfer services are to be financial institutions chartered by Federal or State authority. ACH and wire transfer services must be provided by a financial institution covered by the Governmental Unit Deposit Protection Act, N.J.S.A. 17:9-41 et seq.

(d) A procurement card number may be used in lieu of a credit card number required by a vendor.

N.J. Admin. Code § 5:30-9A.3

Amended by 50 N.J.R. 316(a), effective 1/16/2018