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Has the government changed how it conducts business as a result of COVID-19? Has the fiscal year been extended?
At the start of the health crisis, the Governor signed legislation allowing for State business and legislative sessions to be conducted at locations other than Trenton, and for legislative business to be conducted by electronic means.
Fiscal Year Extended
The deadline for Fiscal Year 2020 has been extended to September 30.
The State Treasurer reported on the financial condition of the budget for Fiscal Years 2020 and 2021, and the Governor submitted a revised budget proposal for Fiscal Year 2021.
The Governor has rescinded a previous Executive Order, signed in June 2019, that would have required the State Treasurer to achieve a $1.276 billion surplus by the end of the current fiscal year.
In addition, the Governor has signed a law authorizing the State to borrow up to $9.9 billion to address the unprecedented fiscal crisis that has arisen as a consequence of the COVID-19 pandemic.
Under the law, the State has the authority to issue bonds of up to $9.9 billion over the remainder of the extended Fiscal Year 2020 and the nine-month Fiscal Year 2021.
Oversight of COVID-19 Recovery Programs
The Governor has announced the creation of a Disaster Recovery Office, which will serve as the center point of contact and coordination for COVID-19 recovery programs funded through the CARES Act and other sources of federal funds.
The Office will ensure all funds are expended in compliance with federal rules and regulations, and that strategies and policies are aligned across all state Departments.
A website to track the Office's progress as well as an annual report will be required.
The Governor has also announced the creation of a COVID-19 Compliance Task Force to review all COVID-related procurements above a certain dollar threshold, ensure internal controls, and provide compliance training to all agencies receiving COVID-19 funds.
The Task Force will also establish an Integrity Oversight Monitoring program with a pool of outside vendors to ensure agencies guard against fraud, waste, and abuse of any COVID-19 funds. Integrity monitors will submit quarterly reports to the Disaster Recovery Office, the Attorney General, the Comptroller, and both the Senate President and Assembly Speaker, as well as post them online.
On May 15, 2020, Governor Murphy signed a bill into law concerning certain local government deadlines, certifications, meetings, acceptance of payments, and property taxes. For more information, refer to the legislation A-3969/S-2392.
Sources: https://www.nj.gov/governor/news/news/562020/approved/20200401a.shtml, https://nj.gov/governor/news/news/562020/approved/20200319f.shtml; Executive Order No. 159; https://nj.gov/governor/news/news/562020/approved/20200716b.shtml; Governor's Remarks 7/17/20