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Posted on: January 21, 2020

Treasury Funding Release Reported

Politico has reported that the NJ Department of the Treasury will be releasing the balance of the $235 million that the Governor placed in reserve when he signed the State budget last June. His decision to hold off on the distribution of those funds, whic...

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Budgeting
Posted on: January 3, 2020

DLGSA Extends CY 2020 Budget Deadlines

The Division of Local Government Services has issued Local Finance Notice 2019-16 regarding 2020 Calendar Year (CY) Budget matters, including information on the Transitional Aid Application process, health benefits cap, municipal aid, and local examinatio...

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Budgeting
Posted on: October 24, 2019

State Releases $114M in Transitional Aid Funding

As you may recall, when signing the State’s FY 2020 spending plan back in June, uncertainty about meeting revenue targets prompted Governor Murphy to direct the State Treasurer to withhold funding for certain programs. The total held in abeyance equaled $...

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Budgeting
Posted on: July 10, 2019

Governor Freezes Most Transition Aid

Upon signing the FY 2020 State budget, Governor Murphy issued Executive Order 73, which impounds up to $235 million in spending, and is not subject to a potential override. Specifically, EO 73 directs the Department of Treasury, Office of Management and B...

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Budgeting
Posted on: July 1, 2019

Governor Signs State FY 2020 State Budget; Line Items Out $48.5 million and Reserves $235 Million

On Sunday Governor Phil Murphy signed the State FY 2020 budget following a 2 pm public event. In doing so, the Governor used his authority to line item out $48.5 million in expenditures in the budget.  From the just over $48 million in spending t...

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Budgeting