The Division of Local Government Services has issued Local Finance Notice 2012-2 which extends the deadline to introduce your CY 2012 budget to March 9. This change is due to the timing of the Governor’s Budget address. Governor Christie is scheduled to present his FY 2013 budget on February 21, 2012 and the release of State formula aid allocation will follow shortly thereafter.
The proposed changes (absent referendum dates) are:
Introduction and Adoption of Budget – Non Referendum
Statutory Date
Revised Date*
Mayor/Council Faulkner Act (Executive) budget transmission to governing body
1/17
2/3
Municipal introduction and approval of budget
2/10
3/9
Municipal adoption
3/20
4/20
* Or the next regularly scheduled governing body meeting where formal action may be taken.
Notwithstanding the revised dates, a budget may be adopted anytime within 10 days of receiving the Director’s certification of approval of the budget.
