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Posted on: December 3, 2018

Division Extends CY 2019 Budget Deadlines

The Division of Local Government Services has issued Local Finance Notice 2018-28 regarding 2019 Calendar Year (CY) Budget Matters, including information on the Financial Automation Submission Tracking (FAST).

The Division of Local Government Services has issued Local Finance Notice 2018-28 regarding 2019 Calendar Year (CY) Budget Matters, including information on the Financial Automation Submission Tracking (FAST).  All CY 2019 budgets must be submitted to the Division through FAST.

 

The Division has extended the CY 2019 Budget deadlines, for municipalities not holding a cap referendum, as follows:


Action                                                                           Statutory Date      Revised Date

Mayor/Council Faulkner Act (Executive)

budget transmission to governing body                                 1/15                        2/28

Municipal introduction and approval of budget                    2/10                        3/29

Municipal adoption                                                               3/20                        4/30

In addition, no later than March 29, 2019, governing bodies may, by resolution, increase their temporary budget appropriations as necessary to adjust for the 2019 budget extensions.

Municipalities planning a property tax levy cap referendum election must meet the notice and publication deadlines tied to the April school board election date. The full calendar for referendums will be released after the Division of Elections establishes the 2019 Election calendar timetable.

The Division reminds governing body members who willfully fail or refuse to timely adopt their budgets can be subjected to a daily personal penalty of $25.

We strongly suggest you review this Local Finance Notice with your Chief Financial Officer.

Contact: Lori Buckelew, Senior Legislative Analyst, lbuckelew@njslom.org, 609-695-3481, x112.


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