New Jersey Division of Local Government Services Local Finance Notice 2023-04
Wielkotz & Company
February 17, 2023
Local Finance Notice 2023-04 Appropriations Cap Relief for CY2023/SFY2024 Budgets; Nation Opioid Settlement Guidance
- N.J.S.A. 40A:4-45.3d authorizes the Local Finance Board to grant exceptions to the municipal appropriations cap. These exceptions are applicable to all municipalities but only effective for the local budget year.
- Pursuant to N.J.S.A 40A:4-45.3d, the Board approved the following appropriation increases in excess of the 3.5% for the following budget appropriations:
- Garbage and Trash Removal and Disposal
- Recycling
- PERS and PFRS employer contributions
- Gasoline and Diesel Fuel
- Worker’s Compensation Insurance
- Municipalities are strongly encouraged to explore all avenues of cost savings, including investigating shared services, and closely analyzing labor agreements and discretionary spending.
National Opioid Settlement Proceeds – Guidance on Budgeting and Reporting
- New Jersey has reached nationwide settlements with pharmaceutical distributors and manufacturers to resolve opioid litigation. This section contains guidance on budgeting and using the settlement proceeds.
- Proceeds from the National Opioid Resolutions can be spent on programs in New Jersey listed in Exhibit A of the agreement.
- Settlement funds must be used to supplement approved funds, and County Advisory Councils must provide expert input, advice, and recommendations.
- Municipalities and counties may seek approval from the Division to insert revenue from the National Opioid Resolutions into their budgets.
- The Governor signed an Executive Order designating the Department of Human Services to oversee the disbursement and reporting of the settlement monies over the next 18 years. Counties and participating municipalities are responsible for collaborating to ensure all required information is shared with DHS on a timely basis.
Local Finance Notice 2023-04
Please follow the link below to read more about these items and guidance on how your local unit can implement them: https://www.nj.gov/dca/divisions/dlgs/lfns/23/2023-04.pdf
Contact Wielkotz & Company, LLC Today
For further information on Local Finance Notice 2023-04 and its implementation feel free to reach out to Steven Wielkotz at (973)-835-7900 ext. 201 or sdw@w-cpa.com.
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