No local unit shall adopt a bond ordinance for a capital project or expenditure unless it has already adopted a capital budget as part of the annual Current Fund budget which includes the project or expenditure; adopted a temporary capital budget which includes the project or expenditure and which subsequently will be included in its capital budget; or if the need is determined after adoption of the annual budget, by adoption of amendment to the capital budget for the capital project or expenditure.

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Prepare for the Rutgers Municipal Capital and Trust Fund Accounting Test. Use our study guide with flashcards and multiple choice questions. Each question provides hints and explanations for clearer understanding. Ensure your success on the test with our comprehensive resources!

Multiple Choice

No local unit shall adopt a bond ordinance for a capital project or expenditure unless it has already adopted a capital budget as part of the annual Current Fund budget which includes the project or expenditure; adopted a temporary capital budget which includes the project or expenditure and which subsequently will be included in its capital budget; or if the need is determined after adoption of the annual budget, by adoption of amendment to the capital budget for the capital project or expenditure.

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