February 27, 2013
Re: Governor Introduces State FY 2014 Budget
Today in Trenton, Governor Christie presented his annual budget address to a joint session of the Legislature. You can access a copy of the speech at http://nj.gov/governor/news/addresses/2010s/approved/20130226.html
A copy of the Governor's State FY 2014 Budget can be downloaded/viewed here.
Over the next four months, the Legislature will review the proposed budget; then draft and pass an Appropriations Act that will govern State spending for the State’s next Fiscal Year, beginning on July 1.
The Governor’s proposed budget includes $32.9 billion in State spending. In his speech, the Governor noted that he has again proposed a balanced budget with no tax increases. The budget will also meet the State’s mandated pension obligations.
The proposal includes a $40 million “Sandy Contingency Fund’ to fund liabilities not covered by insurance or Federal funding for families, businesses and local governments effected by Superstorm Sandy. The proposal, also, would increase school aid by $97 million, to bring total school aid to almost $9 billion.
In his speech, the Governor recounted the State’s contributions to property tax relief, including pension and benefit reform, arbitration reform and the levy cap. He, further, indicated his support for applying the 2% cap to user fees, eliminating IMPEDIMENTS to shared services and eliminating unused accumulated sick leave retirement pay-outs.
We understand that the Division of Local Government Services will post certified municipal property tax relief figures on its website tomorrow. Earlier today, we were informed by Division of Community Affairs’ Commissioner Richard Constable that combined Energy Tax and CMPTRA funding for each municipality will remain stable.
Over the next few days, we will conduct a more detailed review of the Governor’s proposal. Expect further updates. If you have any questions, contact Jon Moran at 609-695-3481, ext. 121 or email@example.com
Very truly yours,
William G. Dressel, Jr.