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NEW JERSEY

New Jersey

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    • Budget timeline: Annual

      Fiscal Year starts: July 1

      The current state budget can be found here

      Find the legislative session calendar here.

      Find the current legislative leaders here.

       

      NJ Gov. Christie

      Gov. Christopher Christie
      Office of Governor Chris Christie
      125 West State Street
      P.O. Box 001
      Trenton, NJ 08625
      Phone: (609) 292-6000
      Fax: (609) 777-2922
      http://www.state.nj.us/governor/

       

       

      Charlene Holzbaur, Director
      Office of Management & Budget
      33 West State Street, P.O. Box 221
      Trenton, NJ 08625
      Phone (609) 777-1988
      www.state.nj.us/treasury/omb/

       

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities.

       

      New Jersey is required to pass a "balanced budget." Article VIII, Section II, paragraph 2 of the 1947 Constitution states "no general appropriation law or other law appropriating money for any State purpose shall be enacted if the appropriation contained therein, together with all prior appropriations made for the same fiscal period, shall exceed the total amount of revenue on hand and anticipated which will be available to meet such appropriations during such fiscal period, as certified by the Governor". New Jersey's Budgetary Comparison Schedules within its annual reports showed budget deficits (negative net transactions) for each of the years studied.

       

      The governor is allowed to block the distribution of appropriations to State agencies when the distribution is not in the State's best interest. New Jersey law also permits deficits to be carried over from one year to the next.

       

      The State maintains two major funds: the General Fund and the Property Tax Relief Fund. The State budgets both of its major funds and several non-major funds. The annual reports' Budgetary Comparison Schedules are presented in a consistent manner and easy to locate. These schedules also present all the necessary information efficiently and include "total" columns for non-major funds.

       

      The New Jersey governor has highlighted a $600 million reduction in the State debt, reductions in the cost and size of government and no legislative "add-ons," a constitutional amendment to require voter approval of state debt, and the establishment of a Long Term Obligation and Capital Expenditure Fund. Moreover, the governor signed an executive order to require recurring revenue match recurring spending in future proposed budgets.  [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

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    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.