What must be provided by the CFO or RMA before the governing body adopts the budget for an accelerated tax lien sale?

The requirement for the Chief Financial Officer (CFO) or the Responsible Municipal Authority (RMA) to provide a fiscal analysis of the impact before the governing body adopts the budget for an accelerated tax lien sale is critical in ensuring informed decision-making. This fiscal analysis offers a detailed examination of the financial ramifications associated with the accelerated tax lien sale, including potential revenue projections, cost implications, and effects on municipal cash flow.

By presenting this analysis, the governing body gains a comprehensive understanding of how such a sale will affect the overall municipal budget and financial health. It serves to highlight potential risks and benefits, enabling the governing body to make a well-informed choice regarding the acceptance and integration of this budget item.

A public notice, while important for transparency and community engagement, does not provide the critical financial insights necessary to inform the governing body about the budget's fiscal impacts. A summary of previous budgets and a performance report also do not address the current fiscal implications tied specifically to an accelerated tax lien sale, which is unique and requires focused financial scrutiny.