Local Finance Notice 2024-20 was published after adoption at the December 11 Local Finance Board Meeting. Pursuant to NJSA 40A:4-5.1, the Division of Local Government Services (DLGS) proposed and approved a revised deadline schedule for introduction and adoption of CY2025 municipal budgets.
The revised 2025 Calendar Year municipal budget deadlines are:
- Mayor/Council Faulkner Act (Executive) date of transmission of budget to governing body extended from January 17, 2025, to February 28, 2025.
- Submission of the Municipal Annual Financial Statement deadline extended from January 26, 2025, to March 7, 2025.
- Municipal introduction and approval of budget extended from February 10, 2025, to March 31, 2025.
- Municipal adoption date is extended from March 20, 2025, to April 30, 2025.
If the regularly scheduled meeting falls within a week or two of this date, the municipal budget can be approved then and does not require noticing and having a special meeting.
Please share this information with your municipal finance officer.
Contact: Paul Penna, Senior Legislative Analyst, ppenna@njlm.org, 609-695-3481, x110.