The primary function of the Division of Treasury is to provide an accurate recording of income (cash receipts) and expenditures (cash disbursements). Other functions that Treasury performs are:
Budget preparation and monitoring
Administering the financial requirements of grants
Fixed asset recording and management
Investing of idle funds
The Municipal Budget
The basis for municipal budgeting is found in the Local Budget Law (N.J.S.A. 40A:4-1).
The budget is a financial plan involving the estimate of expenditures and the revenues with which to finance those expenditures. It provides the authority to tax in order to provide the revenue necessary to bring the budget into balance. The budget is adopted annually and is carefully monitored throughout the year.
Escrow funds are those that are deposited with, and administered by, the Township on behalf of a zoning or planning board applicants. Those funds are utilized to pay professionals (engineers, architects, attorneys, planners) for services rendered in the review, analysis and determination of the applications.
Specific questions relating to escrow can be directed to Teri Appice at 589-0520, ext. 226.