The Division of Local Government Services has issued Local Finance Notice 2023-05 regarding the availability of State Aid Certifications. The CY2024/SFY 2024 Aid Certificate for each municipality is available on the Division’s Municipal Aid webpage under the Individual Certifications for Municipal State Aid heading. No municipality will receive less total state formula aid than it has received in the prior budget year. As noted below, however, that formula aid does not include the $75 million that was appropriated last year as “Municipal Relief Funding.”
We would like to highlight the following:
- The proposed State Fiscal Year budget proposes a $9.9 million increase in Energy Tax Receipts, which equates to a 0.7% increase over last year. Please note that this increase is due to avoiding Energy Tax Receipts’ poison pill and not additional funding to address the shortfalls of Energy Tax Receipt funding over the years.
- Under the proposed budget, 100% of Consolidated Municipal Property Tax Relief Aid (CMPTRA) will be converted to Energy Tax Receipts. Municipalities will no longer receive state aid in the CMPTRA category. Rather CMPTRA will be classified as Energy Tax Receipts.
- The FY2023 Municipal Relief Fund ($75 million) has been removed from the proposed FY2024 State Budget.
- The Watershed Moratorium Offset Aid remains flat at $2.218 million.
- The Garden State Trust Aid remains flat at $6.483 million.
The State will announce the final aid payment schedule in July, prior to the August 1 payment. We suggest you review the Local Finance Notice and your State Aid Certification with your administrator and chief financial officer.
Contact: Lori Buckelew, Deputy Executive Director & Director of Government Affairs, email@example.com, 609-695-3481 ext. 112