App.A:4-26. Estimating cash receipts; surplus revenues; anticipations, etc.
8. In estimating the cash receipts for the current fiscal year for the purpose of determining the amount of the appropriation under the caption "reserve for uncollected taxes" to be included in the budget or tax ordinance of any municipality pursuant to section seven of this act, the receipt shall not be anticipated of any sum or sums of money which will not be applicable to any lawful yearly expenditure for the current fiscal year or which the governing body does not by resolution declare will be received in cash in full prior to the expiration of the current fiscal year, or in any event of any sum or sums of money other than or in excess of the following:
(a) Surplus revenue, not in excess of the amount thereof appropriated or to be appropriated in such budget or tax ordinance and applicable to any lawful yearly expenditure for the current fiscal year, to the extent only that such surplus revenue is subject to immediate use in cash by the municipality at the time of the adoption of such budget or tax ordinance;
(b) Any sum or sums of money, applicable to any lawful yearly expenditure for the current fiscal year, certified by an officer, board, agency, or commission of the state as receivable in cash by or for the account of the municipality during the current fiscal year under existing legislation, from such officer, board, agency, or commission, or from the state through such officer, board, agency or commission, free from any set-off or counterclaim;
(c) Miscellaneous revenues anticipated in such budget or tax ordinance, applicable to any lawful yearly expenditure for the current fiscal year, not in any instance or as to any item in an amount in excess of the amount of such miscellaneous revenues collected in cash during the next preceding fiscal year;
(d) Collections, applicable to any lawful yearly expenditure for the current fiscal year, of a proportion of the taxes levied or to be levied and payable in the current fiscal year, not in excess of the proportion of the taxes levied and payable during the next preceding fiscal year which was collected in cash during such preceding fiscal year;
(e) Collections of a proportion of the delinquent taxes unpaid and owing to the municipality or the collector of the taxing district on the first day of the current fiscal year, not in excess of the proportion of the delinquent taxes unpaid and owing to the municipality or the collector of the taxing district on the first day of the next preceding fiscal year, which was collected in cash during such preceding fiscal year, to the extent, only, however, that such collections during the current fiscal year will not be required by statute to be set aside and applied to the retirement of tax revenue notes or bonds of any year;
(f) Fees, rentals, or charges for service rendered by any municipal enterprise or utility, applicable to any lawful yearly expenditure for the current fiscal year, not in excess of the amount of such fees, rentals, or charges received in cash during the next preceding fiscal year;
(g) Collection of a proportion of special assessments on property specially benefited finally confirmed at the time of the adoption of such budget or tax ordinance and payable during the current fiscal year and applicable to any lawful yearly expenditure for the current fiscal year, not in excess of the proportion of similar special assessments on property specially benefited payable during the next preceding fiscal year which was collected in cash during such preceding fiscal year;
(h) Collections, applicable to any lawful yearly expenditure, of a proportion of the lien value of the tax titles to real estate standing in the name of the municipality on the first day of the current fiscal year, not in excess of the proportion of the lien value of the tax titles which stood in the name of the municipality on the first day of the next preceding fiscal year which was collected in cash during such next preceding fiscal year, to the extent only, however, that such collections will not be required by statute to be applied to the retirement of tax revenue bonds or notes or tax title bonds or notes; and
(i) Any other or additional sums reasonably anticipated as receivable in cash during the current fiscal year from the above or other sources; provided, however, that approval thereof and consent thereto by the state auditor be first had and obtained as hereinafter provided.
For the purposes of subdivision (h) of this section, collections of the lien value of the tax titles to real estate standing in the name of the municipality shall include receipts arising from the sale or redemption or foreclosure and sale of such real estate or from the sale, assignment or other disposition by the municipality of any certificate of tax sale for said real estate. The receipt shall not be anticipated under any one of the above subdivisions (a), (b), (c), (d), (e), (f), (g), (h) and (i) of this section of any sum or sums of money the receipt of which is anticipated under any other of said subdivisions.
(L.1934, c. 60, s. 8, p. 171.)
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Last modified: October 11, 2016