N.J.S.A. 40A:4-60 — Unexpended balances canceled by resolution

40A:4-60. Unexpended balances canceled by resolution Any unexpended balances of appropriations may, by resolution of the governing body, be canceled prior to the end of the fiscal year. Said resolution shall set forth the titles of the appropriations and the amounts to be canceled therefrom. At the end of the next succeeding fiscal year, all remaining unexpended balances shall forthwith lapse, and no disbursement shall thereafter be made therefrom, except to cover specific contracts or agreements in existence at the close of such succeeding fiscal year. L.1960, c. 169, s. 1, eff. Jan. 1, 1962.

This is the verbatim text of N.J.S.A. 40A:4-60, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.