What law governs the adoption of local budgets in New Jersey municipalities?

The adoption of local budgets in New Jersey municipalities is governed by the statute NJSA 40A:4. This law outlines the procedures and requirements for the preparation, introduction, and adoption of budgets at the municipal level. It emphasizes the need for transparency and public participation in the budgeting process, which is crucial for effective governance. The provisions of this statute also establish specific deadlines for budget submissions, outline how budget lines must be tracked, and dictate how amendments can be made after the budget's initial approval.

While other statutes may relate to specific aspects of municipal operations or planning, they do not focus primarily on the budgetary process. For instance, NJSA 40:55D pertains largely to land use development, NJAC 13.1 could refer to different administrative codes, and NJSA 40A:2 addresses specific financial practices but is not as comprehensive in relation to budget adoption as NJSA 40A:4. Therefore, NJSA 40A:4 is the correct answer because it directly provides the framework necessary for municipal budget governance.