The Chief Financial Officer of the Township of Vernon is hereby
designated as the Approval Officer to be responsible for authorizing
and supervising the activities of the third-party disbursement organization.
In addition to such other statutory responsibilities of the Approval
Officer, the Chief Financial Officer shall reconcile and analyze all
general ledger accounts affected by the activities of the third-party
disbursement organization.
The third-party disbursement organization shall provide the
Governing Body with notification in the event:
A.
The disbursing organization detects irregularities that may indicate
potential fraud, noncompliance with appropriate laws, common dishonesty,
or gross incompetence on the part of the Approval Officer; or
B.
The disbursing organization experiences circumstances that could
jeopardize its ability to continue operations or otherwise interrupt
the service provided to the local unit.
The Chief Financial Officer shall qualify disbursing organizations
pursuant to the requirements set forth in N.J.A.C. 5:30-17.5.
Prior to the execution of any contract for the provision of
third-party disbursement services, the contract shall be reviewed
and approved by the Chief Financial Officer of the local unit as to
terms, including satisfaction of the requirements set forth in N.J.A.C.
5:30-17.5 and 17.6.
Prior to the execution or renewal of a contract, the Chief Financial
Officer shall complete a review of the services rendered under the
contract. Such review shall be conducted in compliance with N.J.A.C.
5:30-17.5.
