What is the role of the Borough Auditor and how often is the Auditor up for re-appointment and what is the process?
N.J.S.A. 40A:5-4 requires every municipality to conduct an annual audit of its books, accounts and financial transactions within six months after the close of its budget year, which must be conducted by a Registered Municipal Accountant (RMA). According to N.J.S.A. 40A:5-5, the scope of this audit “shall embrace the books, accounts and transactions of the local unit and every board, body, officer or commission supported and maintained wholly or in part by funds appropriated by the local unit, unless otherwise provided by statute or regulations of the board. Each audit shall cover a complete fiscal year and, in addition, shall include a verification of all cash and bank balances as of the date of the audit thereof and an audit of the accounts to such date.” The appointment of a RMA is done on a yearly basis in accordance with the Local Public Contracts Law (N.J.S.A. 40A:11-5), as it is considered a “Professional Service.” The law defines a professional services as “services rendered or
