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Budgeting

Posted on: January 3, 2020

DLGSA Extends CY 2020 Budget Deadlines

The Division of Local Government Services has issued Local Finance Notice 2019-16 regarding 2020 Calendar Year (CY) Budget matters, including information on the Transitional Aid Application process, health benefits cap, municipal aid, and local examination. Please note that municipalities will be required to submit all budget-related processes using the Financial Automation Submission Tracking (FAST) system.

The Division has extended the CY 2019 Budget deadlines as follows:

Introduction and Adoption of Budget – Non Referendum 

Mayor/Council Faulkner Act (Executive) budget transmission to the governing body
Statutory Date 1/15
Revised Date 2/28 or the next regularly scheduled governing body meeting

Municipal introduction and approval of the budget
Statutory Date 2/10
Revised Date 3/30 or the next regularly scheduled governing body meeting

Municipal adoption
Statutory Date 3/20
Revised Date 4/30 or the next regularly scheduled governing body meeting

Governing bodies may also increase their temporary budget appropriations by resolution note later than March 30, 2020, as necessary to adjust for the 2020 budget extensions.

After the state budget is proposed, the Division will notify municipalities of the amount of CMPTRA and Energy Tax Receipt than can be anticipated in their budgets. However, for budget planning purposes the DLGS is advising municipalities to use the 2019 CMPTRA and Energy Tax Receipts numbers for their 2020 budget. 

The Division is also advising that there is no health insurance cap exclusion for both the property tax levy and appropriation caps as the State Health Benefits Program increase, on which the cap is based on, is 0%.

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

Review this Local Finance Notice with your Chief Financial Officer.

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


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