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May 15, 2009

RE: Latest Current Year Budget Cuts

Dear Mayor:
Following yesterday’s announcement of emergency actions required to plug the State’s widening budget gap (http://www.state.nj.us/treasury/news/2009/p090514a.pdf), the Treasurer has posted an analysis of the specific actions that have been and will be taken, so that the State budget can remain in balance, through the current fiscal year.

You can access the analysis at
http://www.state.nj.us/treasury/omb/publications/10budget/pdf/revenueupdate.pdf.

For municipalities, added to the previously announced reductions in Special Municipal Aid and Extraordinary Aid ($15 million), the reduction in SHARE grants ($5.2 million) and the diversion from the Consolidation Fund to fund State Police Rural Patrols ($5 million), is a new diversion of $7 million from the Consolidation Fund. That cut should not affect any municipal operating budgets, as it is not formula funding, dedicated by statute.

If you have any questions, please call Jon Moran at 609-695-3481, ext. 121.

Very truly yours,

William G. Dressel, Jr.
Executive Director

 

 

 

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