[Added 6-14-2011 by Ord.
No. 2011-018]
A. Approval of the use of disbursing organization/servicer for payment
of claims. The use of a servicer for payment of payroll agency claims
is hereby authorized. The servicer shall be permitted to perform the
following tasks:
(2) Servicer report preparation;
(3) Calculation of withholding;
(4) Direct deposit of payroll disbursements; and
(5) Municipal transfer of funds to disbursing organization's account
for subsequent payment.
B. Approval officer.
(1) The Chief Financial Officer is hereby designated as the approval
officer responsible for authorizing and supervising activities of
the servicer/disbursing organization. [See N.J.S.A. 40A:5-17(a)(1)].
(2) The duties of the approval officer shall include the reconciliation
and analysis of all general ledger accounts affected by the activities
of the servicer/disbursing organization.
(3) The approval officer shall be authorized to enter into an agreement
with the disbursing organization/servicer that will allow holding
of funds pending transmittal of those funds to a payee. The disbursing
organization/servicer shall be authorized to hold the funds pending
transmittal to a payee.
C. Compliance with laws. The Borough specifically adopts, as if set
forth at length and verbatim, all requirements of N.J.A.C. 5:30-17.1
et seq.