Sharing Services Has Saved Money for NJ Local Governments: Wall Street Analysis

It’s a simple formula: Sharing equals savings in the Garden State, according to Moody’s Investors Services.

Pooling services has reduced costs for New Jersey’s municipalities and counties, while maintaining service levels and preserving resources, Moody’s determined in a research report issued this week.

Moody’s specifically found: “New Jersey local governments will continue to curb expense growth and save money via shared services agreements in an environment of rising costs and declining appetite for raising taxes.’’

The finding is a boon to New Jersey’s “home rule” advocates, who have pushed shared services to reduce costs and limit property tax increases, without forcing actual reductions in the number of municipalities, school districts and police departments in the state.