What three directives must all New Jersey municipalities comply with for all funds?

In New Jersey, municipalities are required to maintain comprehensive financial records that comply with state regulations. The three directives that all municipalities must follow for all funds are the encumbrance, fixed assets ledger, and general ledger.

The encumbrance directive is essential for managing committed funds that are not yet spent. This process helps municipalities track budgeting and ensures that funds allocated for specific purposes are accounted for, which prevents overspending.

The fixed assets ledger is crucial for tracking the value and depreciation of long-term assets owned by the municipality. This ledger helps maintain an accurate account of the municipality's resources and financial position, ensuring that assets are managed properly and reported accurately in financial statements.

The general ledger serves as the primary accounting record where all financial transactions are posted. It provides a complete record of all municipal financial activities and is essential for financial reporting and audits.

These three components work together to ensure accurate financial management, compliance with state regulations, and providing transparency in how public funds are used.