Requires DEP to submit annual financial report on status of certain fund balances.
Impact
The enactment of A2753 is poised to enhance the accountability and financial oversight of the DEP's funding sources. By requiring the department to provide a comprehensive report, state lawmakers and citizens will gain clearer insights into how the funds are being managed and spent. This move could foster legislative oversight and public awareness concerning the fiscal activities of the DEP, thus promoting better financial governance within the department. Furthermore, the requirement for an initial interim report within 30 days of the bill's enactment may address immediate concerns regarding funding accuracy and availability.
Summary
Assembly Bill A2753 mandates that the New Jersey Department of Environmental Protection (DEP) submit an annual financial report detailing the appropriated and unappropriated balances of various accounts under its jurisdiction. This bill emphasizes the importance of transparency regarding the utilization of special revenue accounts, often referred to as 'off-budget' accounts. These accounts typically include those funded by bond acts, dedicated revenues, taxes or fees, and other contributions not routinely scrutinized by the Legislature or the public. The annual report is required to be submitted to the Governor and the Legislature by March 1 of each year.
Contention
While the sponsors of this bill highlight the necessity for financial clarity and transparency, there may be concerns regarding the administrative burden it places on the DEP. Some critics might argue that requiring extensive reporting could divert resources and attention away from environmental initiatives and projects that benefit the public. Additionally, there is potential for debate surrounding how this bill may impact smaller, less scrutinized funding sources, as the heightened attention could shift priorities within the DEP's budgetary allocations. Ultimately, the success of the bill will depend largely on the execution and reception among stakeholders involved in environmental management.
Requires public institutions of higher education to submit annual fiscal monitoring report; authorizes Secretary of Higher Education to appoint State monitor of certain institutions; requires higher education chief financial officers complete training; annually appropriates $100,000.
Establishes special dredging account; directs $5,000,000 of sales tax collected annually be deposited therein; directs DEP to administer account and dredging program with certain requirements.
Establishes special dredging account; directs $5,000,000 of sales tax collected annually be deposited therein; directs DEP to administer account and dredging program with certain requirements.
Requires public institutions of higher education to submit annual fiscal monitoring report; authorizes Secretary of Higher Education to appoint State monitor of certain institutions; requires higher education chief financial officers complete training; annually appropriates $100,000.
To provide appropriations from the General Fund for the expenses of the Executive, Legislative and Judicial Departments of the Commonwealth, the public debt and the public schools for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide appropriations from special funds and accounts to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide for the appropriation of Federal funds to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; and to provide for the additional appropriation of Federal and State funds to the Executive and Legislative Departments for the fiscal year July 1, 2022, to June 30, 2023, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2022.