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NJ Delays Release of New Revenue Report

NJ Delays Release of New Revenue Report

NJ Delays Release of New Revenue Report Rowan University Publications, flickr

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Low revenues could force budget cuts.

Analysts say a new state revenue report could change Gov. Chris Christie's budget plans and force new spending cuts.

In a memo sent out earlier this month, the Office of Legislative Services reported April revenues were less than expected, but didn't say by how much. They also were on pace to trail the same period a year earlier.

Lawmakers then asked state Treasurer Andrew Sidamon-Eristoff to provide specifics on the shortfall. But he declined, saying it wouldn't be prudent.
 
The new revenue report was due out Monday, but that did not happen. Treasury officials declined to explain the delay.
 
OLS officials say there's not much breathing room in the current budget. That means low revenues could force budget cuts and changes in budget plans for the coming fiscal year.