The Local Budget Law in New Jersey is established under which statute?

The Local Budget Law in New Jersey is indeed established under NJSA 40A:4. This statute outlines the framework and requirements for municipal budgets, including procedures for preparation, introduction, adoption, and execution of local budgets. It ensures that municipalities adhere to consistent practices in financial governance, detailing elements such as budget formats, public notice requirements, and timelines for adoption. This law is crucial for promoting transparency and accountability in local government finances.

In contrast, the other statutes mentioned do not specifically govern the local budget process. NJSA 40A:2 pertains to the Local Bond Law, which deals with the borrowing and issuance of bonds for municipal projects. NJAC 13.1 refers to administrative codes related to various state regulations, but it does not specifically address local budgeting. NJSA 40:55D covers the Municipal Land Use Law, focusing on land use planning and zoning rather than fiscal matters. Thus, NJSA 40A:4 is the specific statute you should refer to when discussing the Local Budget Law in New Jersey.