Increasing Fiscal Transparency by Tracking, Reporting on Unspent Funds
While Democratic legislative leaders are negotiating a budget with Gov. Chris Christie this week, lawmakers are also moving toward final passage of a bipartisan bill that would bring a new level of transparency to how taxpayer dollars are spent by state government each year. Both houses of the Legislature are expected to approve later today a…
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It is a bit disheartening to think we need a new law to track un-expended balance sheet funds for projects and/or programs.
The trend of raiding flush capital accounts for current operating expenses is an epidemic. There is always some justification for charging current fund labor to a project particularly when aspects of a project can be done more efficiently in-house. Hey the town has a backhoe and an operator, why not do that part of the project ourselves (this is smart – unless the backhoe is only used five time a year).
Another scam I consider almost criminal and certainly fiscally inappropriate is the capitalization of past expense like sick pay, vacation or settlements. Hiding past expenses in a bond is a trend which should be outlawed.
Illinois has run out of tricks and many NJ towns and even the state have structural deficits which cannot be cured with higher taxes and cannot be reduced with scalpels.
As I have written here an elsewhere. We first need axes and sledgehammers to fix what is wrong with NJ. 565 towns, 599 school boards,countless authorities, too many police departments, too many fire departments and too many public workers (number estimated at 550,000 but I don’t think anyone knows)
The state needs a forced restructure across all levels. We need to start over or become Illinois and Puerto Rico. Eliminating, retiring and consolidating 100,000 public workers at an average $50,000 per year wage and benefits would save $5 Billion a year, this year and every year.
We know the large increase in Medicaid spending, (including on illegals,) along with little accountability, and the continuing funding, of every possible social program, will eventually drain the coffers- there is never an end to the “need,” only an end to those who get stuck paying the ever-increasing taxes, fines, fees and penalties, in every aspect of our lives, here in Blue Jersey. I for one would like an accounting right now, of how much the lovely 23-cent a gallon tax increase on our gas has brought in, thus far, and exactly where it has been/is being spent, i. e., what NJ roads and bridges have they really repaired?? The overpasses on many of the parkway exits alone, and many of the guard rails, are still rusty. Send the inmates out there with aluminum paint and spray paint them, for God sakes! We still have issues with the road cleanups, grass cutting, and other maintenance: what kind of a welcome does that give to the summer tourists we claim to want and need? It’s just a mess, and all the clowns in Trenton care about is getting elected/ re- elected, in November- ugh!!
Agree with Agreed. Sadly with made members of the CORRUPT DEMOCRAT MACHINE in charge of Supreme Court, Assembly and Senate and now possibly the governor’s seat, NJ is doomed and the structural deficit with turn into a fiscal death spiral. The Murphy Magic Money Tree is YOU and Me.
Vote for our last best hope Kim Guadagno. Thoughtful, smart, tough and able.
The actual gas tax today in NJ stands at 55 cents per gallon or $11 for every time you fill up your 20 gallon tank (fed tax $.18 + old NJ tax $.14 + new gas $.23).
As I understand it the last .14 tax was rolled up into a massive bond which was wacked up by the CORRUPT DEMOCRAT MACHINE for all sorts of projects with a few bones thrown to the compliant Rs in the Senate and Assembly.
My guess is they will find a way (there is not other money to steal) to siphon off the planned bond for the .23 cents for operating expenses, other projects, 400 page studies in exchange for donations etc.
Although I was generally in support of the deal which ended the insane estate tax which at the low threshold of $675K made many other competing states rich with our fleeing citizens and businesses. With the reduction on pension and ss tax this deal also will keep our seniors (most who are volunteers and community minded people) home in NJ where they want to afford to live.
Still in another suspect move, Trenton left themselves another door unlocked in case they want to break in and steal again. Should the gas tax receipts fall below bond funding requirements, they have the automatic right to raise the tax.
to plan our escapes!! What will they do when we finally run out of patience and money?? Oh, yeah, declare bankruptcy, like Illinois.. why are those who do these dastardly deeds never held accountable? Oh, I forgot: because the blind, deaf and dumb electorate, for the most part, lets them do it to us, again and again!