TRENTON – Legislation sponsored by Senator Ronald l. Rice to require towns that receive municipal aid for Special Improvement Districts and Municipal Public Benefit Corporation to submit budgets to the Department of Community Affairs (DCA) was approved by the full Senate today.
“We must strive for accountability and transparency in all levels of government, said Senator Rice, D-Essex. “This measure will provide a clear picture of the finances of a municipality. When it comes to providing State dollars to cities receiving special funding, it is important that we know how different authorities and departments are financially operating in order to ensure that there is no waste fraud and abuse.”
This bill, S-2675, would amend the “Special Municipal Aid Act” to require municipalities to submit to the DCA the budget for every housing authority, district management corporation, and municipal public benefit corporation located or operating within its borders.
“This bill would not just require housing authorities in municipalities receiving Special Municipal Aid as a condition of receiving funding, but would also require the State Comptroller to conduct annual audits and performance review of every municipality receiving the aid,” said Senator Rice.
The bill now heads to the Governor’s office for enactment.