(R)09-71

RESOLUTION OF THE BOROUGH OF MERCHANTVILLE, COUNTY OF CAMDEN AND

STATE OF NEW JERSEY FOR THE SELF-EXAMINATION OF BUDGET

            WHEREAS, N.J.S.A. 40A:4-78b has authorized the Local Finance Board to adopt rules that permit municipalities in sound fiscal condition to assume the responsibility, normally granted to the Director of the Division of Local Government Services, of conducting the annual budget examination; and

            WHEREAS, N.J.A.C. 5:30-7 was adopted by the Local Finance Board on February 11, 1997; and

            WHEREAS, pursuant to N.J.A.C. 5:30-7.2 through 7.5, the [insert name of municipality] has been declared eligible to participate in the program by the Division of Local government Services, and the Chief Financial officer has determined that the local government meets the necessary conditions to participate in the program for the 2009 budget year.

            NOW THEREFORE BE IT RESOLVED by the governing body of the [insert name of municipality] that in accordance with N.J.A.C. 5:30-7.6a & 7.6b and based upon the Chief Financial Officer's certification, the governing body has found the budget has met the following requirements:

            1.         That with reference to the following items, the amounts have been calculated pursuant to law and appropriated as such in the budget:

                        a.         Payment of interest and debt redemption charges

                        b.         Deferred charges and statutory expenditures

                        c.          Cash deficit of preceding year

                        d.         Reserve for uncollected taxes

                        e.         Other reserves and non-disbursement items

                        f.          Any inclusions of amounts required for school

                                    purposes.

            2.         That the provisions relating to limitation on increases of appropriations pursuant to N.J.S.A. 40A:4-45.2 and appropriations for exceptions to limits on appropriations found at N.J.S.A. 40A:4-45.3 et seq., are fully met (complies with CAP law).

            3.         That the budget is in such form, arrangement, and content as required by the Local Budget Law and N.J.A.C. 5:30-4 and 5:30-5.

            4.         That pursuant to the Local Budget Law:

a.         All estimates of revenue are reasonable, accurate and correctly stated,

                        b.         Items of appropriation are properly set forth

                        c.          In itemization, form, arrangement and content, the budget will

permit the exercise of the comptroller function within the municipality.

            5.         The budget and associated amendments have been introduced and publicly advertised in accordance with the relevant provisions of the Local Budget Law, except that failure to meet the deadlines of N.J.S.A. 40A:4-5 shall not prevent such certification.

            6.         That all other applicable statutory requirements have been fulfilled.

            BE IT FURTHER RESOLVED that a copy of this resolution will be forwarded to the Director of the Division of Local Government Services upon adoption.

Approved:        

Vote recorded as follows:

            THE BOROUGH OF MERCHANTVILLE                                                

                                                                 BY:                                                                        

                                                                        FRANK M. NORTH, MAYOR                

ATTEST:

_____________________________________

DENISE BROUSE, BOROUGH CLERK