Christie administration outlines $700 million in mid-year cuts to balance budget
March 21, 2014, 10:49 AM Last updated: Friday, March 21, 2014, 1:04 PM
By JOHN REITMEYER
STATE HO– USE BUREAU
The Record
Nearly every state department will see some funding reduced in a series of spending cuts totaling nearly $700 million that Governor Christie says is needed now to help keep New Jersey’s $33 billion budget in balance.
Christie’s administration announced the midyear cuts — spending adjustments called “lapses” in state budget documents — in late February, but the administration did not detail at the time which departments and programs would see budget reductions.
In all, the administration is making cuts to 70 different programs spanning 12 different departments, as well as several accounts that are shared by state departments. The Department of Education will lose the most funding, with $223.1 million cut from its budget, followed by the Department of Human Services, which is losing $148.5 million.
The spending lapses, which total $694 million, were announced in late February as the $33 billion budget Christie signed in June was running a revenue shortfall estimated to be as high as $400 million.
The budget adjustments will also help offset two midyear changes to the spending plan Christie signed last year. Treasury reduced its revenue forecast by roughly $250 million in February, and it also reported $292 million in supplemental spending added the Christie’s original budget plan.
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