Guidance on Preparing for Tax Appeals - 02/02/2012

Local Finance Notice 2012-4 provides "Guidance on Preparing for Tax Appeals and Paying for their Impact; Including a Discussion of the Newly Enacted P.L. 2011, c. 224."  This Notice discusses issues in financing repayment of tax refunds under several fiscal circumstances.  It also reviews the new capability for financing current year appeals that result in a cash deficit due to tax appeals.

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Local Finance Notice 2012-1 provides an update regarding the annual cost of living increase for municipalities and fire districts that have Length of Service Award Plans (LOSAP) and provide a COLA increase each year.  The Notice describes the separate increase calculations for both municipal and fire district LOSAP plans that provide for COLA increases.

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The Division has now posted individual CY 2012 / SFY2013 Municipal Information Sheets on the Fiscal Reports website.  In addition, the 2011 Statewide Abstract of Ratables and Municipal Tax Information is now available to view online.  

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Local Finance Notice 2012-2 extends the municipal budget introduction date to March 9, from February 29.  This provides additional time to incorporate into introduced budgets state aid allocations that will be distributed after the Governor's Budget Message on February 21.

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Applications for the Per Capita State Aid (PCSA) grant program for library aid are due by March 15, 2012.  The program cover letter, instructions and application are available online.  If you have any questions regarding the application, please contact Bob Keith at rkeith@njstatelib.org.    

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Local Finance Notice 2011-39 establishes the Transitional Aid application process for Calendar Year municipalities in anticipation of funding in the 2013 budget.  While applications are due at the end of February, this Notice is being released now to give local officials sufficient time to carefully review the Notice and prepare applications.  A link to the application form is available online.  Municipal Clerks are asked to share this Notice with elected officials as appropriate.

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The Division of Local Government Services has posted CY 2012 Municipal and County budget and related forms online at www.nj.gov/dca/lgs/fiscal/budmenu.shtml.  This includes the budget document (with revised sheets per LFN 2011-37), levy cap workbook, AFS form, and related documents.  This supports the release of CY 2012 Municipal and County Budget guidance released earlier this week.

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Local Finance Notice 2011-37 reviews a wide range of issues pertaining to the CY 2012 budget cycle, including limited extended budget introduction and adoption deadlines, an addition to the budget message concerning structural budget imbalances, and other details concerning the budget process.  All CY 2012 municipalities and counties are urged to start their budget planning now to ensure adoption at the earliest possible time.

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Local Finance Notice 2011-36 has specific and immediate applicability to municipalities (and possibly some counties) and authorities that have service agreements between them that provides for debt service guarantees of authority debt by the municipality or county.  The Notice directs that in those circumstances when guaranteed debt service of an authority increases, the increased amount is treated as a (2010) Levy Cap Exclusion.  Details concerning authority certification and treatment in the levy cap workbook are reviewed in the Notice.  The Notice should be carefully reviewed and shared with appropriate staff as it applied immediately to CY 2012 budgets. 

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