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Finance News

10/25/2016   CY 2017 Municipal and County Budget Cap Information
09/23/2016   CY2016/SFY2017 Municipal Best Practices
08/04/2016   CY 2016/SFY 2017 State Aid Recapitulation and Payment Schedules

CY 2017 Municipal and County Budget Cap Information - 10/25/2016

Local Finance 2016-18 addresses issues related to CY 2017 Municipal and County Budgets and the 1977 and 2010 cap laws. It includes information on the 1977 cap law Cost of Living Adjustment and the use of the COLA ordinance (resolution) and Group Health Insurance increase thresholds. 

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CY2016/SFY2017 Municipal Best Practices - 09/23/2016

The State's Fiscal Year 2017 Appropriations Act (P.L. 2016, c.10) requires the Division of Local Government Services ("Division") to issue a Best Practices Inventory to be completed by each municipality. As in previous years, the maximum amount of aid that is subject to being withheld by the Division is the full amount of the final aid payment (December 1 for Calendar Year municipalities). The Best Practices Inventory can be accessed online located under CY2016/SFY2017 Program. Local Finance Notice 2016-13 provides further information concerning Best Practices. Municipalities operating on a CALENDAR YEAR or TRANSITION FISCAL YEAR (SFY reversions) must return their completed Inventory to the Division by Friday, October 21, 2016.  Those municipalities operating on STATE FISCAL YEAR budgets must return their completed Inventory by Friday, April 7, 2017.  Completion and filing instructions are included in an Appendix to Local Finance Notice 2016-13. 

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CY 2016/SFY 2017 State Aid Recapitulation and Payment Schedules - 08/04/2016

Local Finance Notice 2016-11 summarizes the aid payment program for CY 2016 and SFY 2017 budgets. Effective immediately, there will be a change to the way municipal state aid payment schedules are presented and reported on the Division's website. Previously, state aid payment amounts and disbursement dates were provided in individual municipal aid payment recapitulation sheets on the Division's Fiscal Reports webpage. From this year forward, the Division will instead post a single dynamic Municipal Aid Recapitulation Schedule on the Municipal State Aid webpage. After selecting a municipality from a dropdown menu, the appropriate payments will automatically appear on the screen based on the selection. The output has been formatted to print, allowing for easy conversation to PDF or hard copy printing.

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Updated: 01/04/2017