Code · New Jersey · Title 40A — Municipalities and Counties · Chapter 4

40A:4-60. Unexpended balances canceled by resolution

89 words·~1 min read·/nj/title-40a/chapter-4/40a-4-60

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Any unexpended balances of appropriations may, by resolution of the governing body, be canceled prior to the end of the fiscal year. Said resolution shall set forth the titles of the appropriations and the amounts to be canceled therefrom.

At the end of the next succeeding fiscal year, all remaining unexpended balances shall forthwith lapse, and no disbursement shall thereafter be made therefrom, except to cover specific contracts or agreements in existence at the close of such succeeding fiscal year.

L.1960, c. 169, s. 1, eff. Jan. 1, 1962.