ASSEMBLY BUDGET COMMITTEE
STATEMENT TO
ASSEMBLY, No. 4700
STATE OF NEW JERSEY
DATED: JUNE 26, 2024
The Assembly Budget Committee reports favorably Assembly Bill No. 4700.
This bill appropriates $56,635,803,000 in State funds and $27,501,993,844 in federal funds for the State budget for Fiscal Year 2025. In accordance with the provisions of Article VIII, Section II, paragraph 2 of the New Jersey Constitution, the Fiscal Year 2025 appropriations bill identifies anticipated resources sufficient to meet project appropriations.
The following compares the recommendations of the Governor’s Fiscal Year 2025 revised budget proposal with that of the appropriations bill:
SUMMARY OF FY 2025 APPROPRIATIONS
($ thousands)
|
Non-Federal Resources Available, All Funds |
Governor's Budget Message |
A-4700 |
|
|
|
|
|
Total Opening Balances July 1, 2024 |
$8,220,129 |
$8,611,821 |
|
Non-Federal Revenues Anticipated |
$54,108,582 |
$54,512,509 |
|
Total Non-Federal Resources Available |
$62,328,711 |
$63,124,330 |
|
Non-Federal Appropriations, All Funds |
Governor's Budget Message |
A-4700 |
|
Direct State Services |
$11,439,929 |
$11,419,150 |
|
Grants-in-Aid |
17,991,152 |
18,538,022 |
|
State Aid |
23,928,829 |
24,124,071 |
|
Debt Service |
574,227 |
574,227 |
|
Capital Construction |
1,973,733 |
1,980,333 |
|
Total |
$55,907,870 |
$56,635,803 |
|
Total Closing Balances, All Funds, June 30, 2025 |
$6,420,841 |
$6,488,527 |
SUMMARY OF APPROPRIATIONS BY DEPARTMENT
ALL FUNDS
($ thousands)
|
Appropriations |
Governor's Budget Message |
A-4700 |
|
Legislature |
$117,755 |
$127,346 |
|
Chief Executive |
$13,745 |
$14,745 |
|
Agriculture |
$178,057 |
$178,707 |
|
Banking and Insurance |
$85,263 |
$75,263 |
|
Children and Families |
$1,436,250 |
$1,495,612 |
|
Community Affairs |
$1,070,590 |
$1,197,465 |
|
Corrections |
$1,222,440 |
$1,191,440 |
|
Education |
$20,964,542 |
$21,018,647 |
|
Environmental Protection |
$491,348 |
$502,159 |
|
Health |
$1,336,384 |
$1,395,047 |
|
Human Services |
$9,710,278 |
$9,851,331 |
|
Labor and Workforce Development |
$207,142 |
$208,942 |
|
Law and Public Safety |
$967,523 |
$977,295 |
|
Military & Veterans' Affairs |
$121,322 |
$125,347 |
|
State |
$1,998,824 |
$2,167,406 |
|
Transportation |
$2,077,001 |
$2,099,966 |
|
Treasury |
$5,214,119 |
$5,287,521 |
|
Debt Service |
$574,227 |
$574,227 |
|
Misc. Executive Commissions |
$989 |
$989 |
|
Interdepartmental |
$7,224,584 |
$7,250,861 |
|
Judiciary |
$895,487 |
$895,487 |
|
TOTAL |
$55,907,870 |
$56,635,803 |