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Budgeting

Posted on: March 27, 2020

CY 2020/SFY2021 State Aid Remains Flat

The Division of Local Government Services has issued Local Finance Notice 2020-08 noting that no municipality will receive less total State formula aid in CY2020/FY2021 than it received last year. However, the Division does not that the proposed budget serves as a guide for SFY municipalities and that final SFY certifications will be posted once the state budget has been adopted. The CY 2019/SFY20 Aid Certification for each municipality will be available on the Divisions website under Municipal State Aid on March 27. The State will announce the final aid payment schedule in July, prior to the August 1 payment.

The Local Finance Notice also noted that the Division will consider budgets introduced on the first regularly scheduled governing body meeting after April 28 as introduced timely. However, applicants for Transitional Aid must introduce their municipal budgets no later than the Transitional Aid application deadline.

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

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