June 11, 2013
Re: Implementation of Sandy Integrity Oversight and Required Filing
State Treasurer Andrew Sidamon-Eristoff recently sent out a memorandum regarding the implementation of P.L. 2013, c37, which authorizes the deployment of Integrity Oversight monitors for certain recovery and rebuilding projects. As outlined in our March 28 Dear Mayor Letter, P.L. 2013, c. 37 requires the State Treasurer to establish a pool of pre-approved oversight monitors, subject to the availability of federal funding, and to assign such monitors for oversight and review of contracts for recovery and rebuilding projects related to Super Storm Sandy.
Although the law requires integrity oversight monitors for contracts over $5 million, it provides discretion to the State Treasurer for projects under $5 million. As a result, the Department of Treasury is requiring that all local governmental units complete a Sandy Recovery and Rebuilding Contract Notification Form for any project in excess of $2 million. The completed form, along with any required documentation, must be submitted to Dave Ridolfino, Associate Deputy State Treasurer, Department of Treasury, Office of the State Treasurer, PO Box 002, Trenton, New Jersey 08625 or by e-mailing David.Ridolfino@treas.state.nj.us.
The law also required the creation of a pool of integrity oversight monitors. A list of monitors is available on Treasury’s website and with additional firms to be added over time. However, if the local government unit feels adequate controls are in place and that an integrity oversight monitor is not necessary, they can apply for a waiver to the statutory requirement. Treasury is developing a process for the waivers and additional information will be provided at a later date.
The Department has prepared an FAQ to assist local government units in their compliance efforts. Treasury will continue to modify procedures and policies as they move forward. We recommend that you visit their website www.state.nj.us/treasury/news-sandy.shtml for the most up to date information.
Very truly yours,
William G. Dressel, Jr.