Friday, June 24, 2011

Christie Certifies Total Funds For Budget

New Jersey Governor Chris Christie today certified the total funds available to be appropriated for the Fiscal Year 2012 State Budget. The certification fulfills the constitutional obligation of the Governor to provide an official revenue statement identifying the total amount of revenue on hand and anticipated which will be available to meet appropriations during Fiscal Year 2012.

The Governor’s certification reflects a total of $29,640,697,000 in revenue available for the Fiscal Year 2012 Budget, and $696,366,000 in undesignated fund balances, resulting in a combined total of $30,337,063,000. These figures comport with the May 17 budget hearing testimony of state Treasurer Andrew Sidamon-Eristoff.

“As required under our state Constitution and consistent with budget testimony delivered to the Legislature by the state Treasurer, I am submitting a certification of available revenue that is both realistic and achievable,” said Governor Christie. “Following modest revenue estimates that are based in reality is the only responsible course to avoid the same type of panicked, mid-year cuts that have plagued overly optimistic budget projections in prior years. That is our limit and our guidepost in developing a responsible, balanced and constitutional state budget.”

Under Article VIII, Section II, Paragraph 2 of the New Jersey Constitution, the Governor has the exclusive responsibility to certify revenues available to support a constitutional balanced budget.

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