New Jersey § 52:27bb-2

§ 52:27bb-2.

As used in this act, 1 unless the context indicates otherwise: “ Department ” means the State Department of Community Affairs. “ Commissioner ” means the Commissioner and head of the State Department of Community Affairs. “ Division ” means the Division of Local Finance in the State Department of Community Affairs. “ Director ” means the administrative head of the Division of Local Finance in the State Department

of Community Affairs. “ Board ” means the Local Finance Board of the Division of Local Finance in the State Department

of Community Affairs. “ Governing body ” means, in the case of a county, the board of chosen freeholders, and in the case

of a municipality, the body exercising general legislative and administrative authority

within the municipality, and in the case of a county or municipal authority, the body

exercising general legislative and administrative authority over the actions of said

county or municipal authority. “ Political subdivision ” includes a municipality, county, school district, county or municipal authority,

or a regional authority or district other than an interstate authority or district. “ Local government ” means the government of political subdivisions. “ Municipality ” includes a city, town, village, borough, township, special district, municipal authority,

or other municipal corporations other than a school district or a county. “ Municipality under supervision ” means a municipality to which the provisions of this act apply by virtue of a resolution

of the Local Finance Board in the Division of Local Finance in the State Department

of Community Affairs made in accordance with section 21 of this act. 2 “ Administrator ” means the local administrator of finance. “ Cash deficit ” means the amount, if any, by which liabilities and cash disbursements of a municipality

for lawful yearly expenditures (as defined in section 40A:4-42 of the New Jersey Statutes ) exceed the cash receipts in a budget year, whether the municipality is operating

under a cash basis budget or not. “ Accountant ” means a registered municipal accountant. “ Regular audit ” means the annual or biennial audit, as the case may be, required by law. “ Fiscal year ” or “ year ” means the calendar year beginning January 1 and ending December 31. “ County or municipal authority ” means a body corporate and politic of this State created by a county or municipality

having corporate succession and the power to issue bonds, or other obligations. 1

N.J.S.A. §§ 52:27BB-1 to 52:27BB-100. 2

N.J.S.A. § 52:27BB-21.