Cmfo Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Cmfo? On this page you'll find 220 study documents about Cmfo.
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CMFO - Finance Admin (T/F)
- Exam (elaborations) • 19 pages • 2024
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CMFO - Finance Admin (T/F) 
 
Local units may not utilize or similar sites for the purposes of selling surplus 
property online,except if an item's value is below 15% of the local unit's bid threshold - True 
 
School debt is reported on the municipality's annual debt statement - True 
 
School districts are governed by NJSA 40A et seq - False 
 
The governing body of a municipality may change the type of school district by ordinance - 
False 
 
School debt limit is based on the district's ...
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CMFO - Finance Admin Exam Study Guide
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CMFO - Finance Admin Exam Study Guide 
 
The debt limit of a municipality may not exceed what percentage of the prior three years 
equalized assessed real property valuations - 3.5% 
 
The corrective action plan must describe how the local unit will correct the problems cited in the 
audit and be filed with DLGS by the - CFO 
 
Prior to any purchase of goods certification of available funds must be made by the - CFO 
 
Authorities and utilities are funded by - User Fees 
 
The audit of the Fire ...
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CMFO - Local Budget Law
- Exam (elaborations) • 14 pages • 2024
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CMFO - Local Budget Law 
 
A Governing Body may increase it's appropriations cap to ________ by passing a 
_______________________________ - c. 3.5% by passing a cost of living adjustment 
ordinance 
 
The flexible chart of accounts is a coding system which categorizes: 
a. Debt service payments 
b. Capital Projects 
c. Budget appropriations and revenues 
d. Utility Rates - c. Budget appropriations and revenues 
 
The reserve for uncollected taxes is: 
a. a line item for tax credits for senio...
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CMFO - Finance Admin Final Exam Study Guide with 100% Correct Answers | Verified | Latest Update 2024|Rated A+
- Exam (elaborations) • 28 pages • 2024
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CMFO - Finance Admin Final Exam Study Guide 
with 100% Correct Answers | Verified | Latest Update 
2024|Rated A+ 
The debt limit of a municipality may not exceed what percentage of the prior three years 
equalized assessed real property valuations - 3.5% 
The corrective action plan must describe how the local unit will correct the problems cited in the 
audit and be filed with DLGS by the - CFO 
Prior to any purchase of goods certification of available funds must be made by the - CFO 
Authoritie...
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CMFO Exam Question Bank With Verified Answers 100% Correct 2023
- Exam (elaborations) • 21 pages • 2023
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CMFO Exam Question Bank With Verified Answers 100% Correct 2023 
True T/F: Due from State of New Jersey for Senior citizen Deductions can be anticipated as a revenue in the current fund budget as non-cash surplus 
 
Retirement of serial bonds Trust Assessment Fund cash is first pledged to: 
 
Quarterly basis Municipal Library Levy is paid on a 
 
True T/F: budget transfers from Capital Improvement Fund are not permitted 
 
Corrective Action Plan Finding/Condition; Recommendation; explanation & c...
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CMFO Exam Questions And Complete Solutions (100% Correct)
- Exam (elaborations) • 22 pages • 2023
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CMFO Exam Questions And Complete Solutions (100% Correct)
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CMFO - Finance Admin Exam Study Guide | 208 Questions with 100% Correct Answers | Verified | 27 Pages
- Exam (elaborations) • 27 pages • 2023
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The debt limit of a municipality may not exceed what percentage of the prior three years 
equalized assessed real property valuations - 3.5% 
The corrective action plan must describe how the local unit will correct the problems cited in the 
audit and be filed with DLGS by the - CFO 
Prior to any purchase of goods certification of available funds must be made by the - CFO 
Authorities and utilities are funded by - User Fees 
The audit of the Fire District must be filed with the governing body wh...
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CMFO Statutes Exam Prep Complete Questions And Answers 2023
- Exam (elaborations) • 41 pages • 2023
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CMFO Statutes Exam Prep Complete Questions And Answers 2023 
The Local Budget Law, N.J.S.A. 4OA:4—31(b) requires any municipality dec±ding to convert to a State Fiscal Year from a Calendar Fiscal Year perform the following: 
 
A. Apply to the Division of Local Government Services 
B. Apply to the Local Finance Board 
C. Apply to the Commissioner of the Department of Community Affairs 
D. All the above 
E. None of the above B. Apply to the Local Finance Board 
 
When converting to a State Fisc...
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CMFO HOMMA THEORY EXAM COMPLETE QUESTIONS AND ANSWERS
- Exam (elaborations) • 17 pages • 2023
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CMFO HOMMA THEORY EXAM COMPLETE QUESTIONS AND ANSWERS
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NJ CMFO Statutes Exam Review
- Exam (elaborations) • 10 pages • 2024
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NJ CMFO Statutes Exam Review 
 
Every audit required by the Local Fiscal Affairs 40A:5-9 is required be completed by an 
accountant or auditor who holds an uncanceled license as: - Registered Municipal 
Accountant 
 
Local Budget Law, N.J.S.A. 40A: 4-3.1 (b) requires any municipality deciding to convert to a 
State Fiscal Year from Calendar Fiscal Year must apply to - Local Finance Board 
 
Local Budget Law 40A:4-3.2 Adoption of State fiscal year; when converting to a state fiscal year 
calendar...