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09/23/2016   2017 Authority Budget Submission
06/09/2016   Proposed New Rule - N.J.A.C. 5:31-8.1 Authority Bond Refunding's
04/11/2016   Authorities and Fire Districts Audit Submission Extended Filing Date

2017 Authority Budget Submission - 09/23/2016

Local Finance Notice 2016-15 provides guidance for local authority budget submissions for fiscal years beginning after December 31, 2016. Documents are now available on the Division of Local Government Services website. The website has separate documents for housing authorities and all other authorities.  A separate Local Finance Notice for Fire Districts and their budget documents has been released. The Budget Package is comprised of a Word Document and Excel Workbook and includes all related forms and numbered pages that make up the complete budget document. Each local authority is required to submit its budget on the forms provided by the Division. Any authority that submits a budget for a fiscal year beginning after December 31, 2016 on an outdated form will not be approved by the Division and will be required to re-submit the budget on the correct form.

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Proposed New Rule - N.J.A.C. 5:31-8.1 Authority Bond Refunding's - 06/09/2016

The Local Finance Board has proposed a new rule that would permit a local authority or fire district to issue refunding bonds without prior Local Finance Board approval, so long as the issuance realizes debt service savings on outstanding obligations and certain other conditions are met.  Published in the June 6, 2016 New Jersey Register, the rule proposal is located on DLGS’s “Rules and Regulations” webpage under “Proposed Rules.”  Please submit written comments on the notice of proposal by August 5, 2016.  Comments may be submitted via e-mail to or by regular mail to: Patricia Parkin McNamara, Executive Secretary - Local Finance Board - Department of Community Affairs - PO Box 803 - Trenton, NJ 08625-0803 For comments submitted via e-mail, please name the subject heading “NJAC 5:31-8.1: Refunding of Bonds Meeting Certain Conditions.” 

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Authorities and Fire Districts Audit Submission Extended Filing Date - 04/11/2016

Under GASB Statement No. 68, individual government employers must report a proportionate share of the Net Pension Liability, deferred inflows and outflows, and pension expense in their financial statements. Previously, employers only reported the annual contributions they made to the Pension System as an expense. The information required for compliance with Government Accounting Standards Board (“GASB”) Statement No.68 has not been released by the New Jersey Division of Pensions for New Jersey government entities proportional allocation of pension expenses for fiscal period ending June 30, 2015. This information is needed to complete Authorities and Fire District financial statements and required notes to the financial statement in accordance with the GASB Statement. The Division of Local Government Services will allow a filing extension for audits of Authorities and Fire Districts that are due to be filed prior to the release of the compliance information for GASB 68. When the compliance information is released, the Division will communicate a filing deadline for audit reports affected by the information delay. For questions, please email: 

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Updated: 09/23/2016