News Flash

Budgeting

Posted on: April 30, 2021

New Jersey SFY 2022 Budget Update

Over the past month, State Fiscal Year (FY) 2022 budget hearings have continued to be held by the Legislature. The Governor’s proposed FY 2022 budget includes a full payment to the pension system, a flat increase from the FY 2021 budget to the State, and different funding initiatives for public education and workforce training.

On April 22, Lt. Governor Sheila Oliver testified before the Assembly Budget Committee. Regarding housing the Lt. Governor stated that on March 22, the Murphy Administration had released the second round of rental assistance, stating, “you know what we have to do is operate a lottery. There is no fair way they could develop, devise, or think about that would be fair to everyone who would need rental assistance.”

Senator Steven Oroho (R-23) brought up the issue of how the American Rescue Plan funds will be allocated for New Jersey municipalities. Lt. Gov. Oliver responded that the Murphy Administration is still waiting for guidance from the U.S Treasury, which is expected by early May. To be ready for the allocations of these funds, municipalities should have created a DUNS number and registered with the SAMS database. Please see the Federal item below for more information.

We will continue to monitor the legislative hearings as the budgeting process moves forward.

Contact: Andrew LaFevre, Legislative Analyst, alafevre@njlm.org, 609-695-3481, x116

Facebook Twitter Email