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The Audit Program NJ School Finance Legislative & Regulatory Developments Presentation – (June 2005) This presentation was made at the New Jersey Society of Certified Public Accountants’ Annual Government Accounting and Auditing Conference in June 2005 for an update on legislative and regulatory issues. It includes information on P.L. 2004 c.73 (S-1701) and N.J.A.C. 6A:23A(S-1701) as well as a refresher on capital projects and EFCFA, and an update on the capital and maintenance reserves. The requirements of Chapter Law 73 addressed in this presentation include the reduction in maximum surplus, restrictions on line-item transfers and spending increases during the year, and limits on administrative costs. Changes related to S-1701 in the 2004-05 Audit Program are noted.
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