Governor Chris Christie • Lt.Governor Kim Guadagno
New Jersey Home Page Citizen Business New Jersey Government New Jersey Services A to Z New Jersey State Departments and Agencies

General News

02/04/2016   LFN 2016-03: Guidance on LOSAPs
01/26/2016   LFN 2016-02: State of Emergency Relating to Snow Storm
11/16/2015   GASB 68 - Accounting & Financial Reporting for Public Employee Pension
11/10/2015   Changes to Local Finance Board Matters - Recently Enacted Legislation
10/01/2015   Transitional Aid Application Process for SFY Municipalities
10/01/2015   Local Unit Investment in Municipal Notes
08/19/2015   Mandatory Direct Deposit for Local Unit Employees

LFN 2016-03: Guidance on LOSAPs - 02/04/2016

The "Emergency Services Volunteer Length of Service Award Program" (P.L. 1997, c.388) ("LOSAP") was signed into law in 1998 to support the recruitment and retention of fire and first aid volunteers by rewarding their service. The Division of Local Government Services adopted LOSAP Rules on January 16, 2001 and amended on November 26, 2003. In response to concerns with the oversight of certain LOSAPs, the State of New Jersey Office of the State Comptroller ("OSC") conducted a review of several LOSAPs across the State. On June 30, 2015, then Acting State Comptroller Marc Larkins, issued an "Investigative Report: Emergency Services Volunteer Length of Service Award Program" (the "OSC Report"). Local Finance Notice 2016-03 provides Guidance on Administration of Length of Service Award Programs (LOSAPs).

Return to Top

LFN 2016-02: State of Emergency Relating to Snow Storm - 01/26/2016

Commencing on Friday, January 22nd, a severe winter storm moved through New Jersey for which Governor Christie declared a state of emergency via Executive Order 202.  The storm brought heavy snow, mixed precipitation, strong winds, freezing temperatures and flooding conditions to various portions of the State.  Local Finance Notice 2016-02 has been issued to inform impacted local units of relevant post-storm financing, procurement and property tax related matters.

Return to Top

GASB 68 - Accounting & Financial Reporting for Public Employee Pension - 11/16/2015

The New Jersey Department of Treasury's Division of Pensions and Benefits has released reporting data pertaining to the Government Standards Accounting Board's Statement No. 68 (GASB 68).  Each local government's allocation can be found on the Division of Pensions and Benefits website.  GASB Statement 68 requires states to allocate, for reporting purposes only, pension liabilities of their centralized pension systems to all participating employers. Please review Local Finance Notice 2015-24 for further information on GASB 68, including guidance on reporting for local governments.

Return to Top

Changes to Local Finance Board Matters - Recently Enacted Legislation - 11/10/2015

On August 10, 2015, the Governor signed Senate Bill S2454 into law as P.L. 2015, c. 95.  Known as the "Division of Local Government Services Modernization and Local Mandate Relief Act of 2015", the law makes a series of changes that streamline certain Division and Local Finance Board functions, along with relieving local governments of certain mandates and allowing greater flexibility in select areas.  Local Finance Notice 2015-23 is part of a series of guidance documents discussing the changes enacted by this new law.  It pertains to certain matters either no longer requiring application for approval by the Local Finance Board, or that remain Board matters but are subject to new provisions.  The changes discussed pertain to: Environmental Infrastructure Trust loans, Qualified Bond Act municipalities seeking approvals for other bonding, A new cap on financing fees charged by an issuing entity, as well as credit enhancement fees charged by a local government unit and Municipal port authority budgets are now approved by DLGS Director rather than by the Local Finance Board.   

Return to Top

Transitional Aid Application Process for SFY Municipalities - 10/01/2015

The Division has posted Local Finance Notice 2015-19 concerning the 2016 Transitional Aid Application Process for Fiscal Year municipalities. This aid is only available to address financially distressed communities that have reached a point that without aid they will be unable to pay debt service or the costs of essential services.  Fiscal Year municipalities intending to apply for Transitional Aid should carefully review LFN 2015-19 and the SFY 2016 Application.  Please note that this application is for FISCAL YEAR municipalities only. The 2016 application for calendar year municipalities will be available early in 2016.

Return to Top

Local Unit Investment in Municipal Notes - 10/01/2015

Local Finance Notice 2015-18 sets forth a more streamlined process for local units to obtain approval to invest in municipal, county and fire district notes (maturing no later than 397 days from date of purchase). This process implements a statutory change to N.J.S.A. 40A:5-15.1(a)(5) that shifts approval authority from the Division of Investments to the Division of Local Government Services.

Return to Top

Mandatory Direct Deposit for Local Unit Employees - 08/19/2015

Local Finance Notice 2015-14 discusses the ability of municipalities and counties to mandate direct deposit of employee pay, as well as recently enacted legislation extending this power to local authorities and fire districts.  Through these laws, local units have an additional tool with which to control personnel-related costs.

Return to Top


statewide: njhome | citizen | business | government | departments | search

Updated: 02/04/2016