New Jersey
Public finance
The annual budget, prepared by the Treasury Department's Division of Budget and Accounting, is submitted by the governor to the legislature for approval. The fiscal year runs from 1 July to 30 June.
Adjusted appropriations from New Jersey's general fund totaled $16.251 billion in 2002/03, including appropriations, by purpose, for direct state services ($5.284 billion), grants-in-aid ($6.139 billion), state aid ($3.923 billion), capital construction ($1.024 billion), and debt service ($434 million). New Jersey's budget deficit for 2002/03 was estimated at 25.6% of the state budget, and for 2003/04, was projected at 19% of the state budget.
The following table from the US Census Bureau contains information on revenues, expenditures, indebtedness, and cash/securities for 2001.
| ($000) | PERCENT | PER CAPITA | |
| Population (thousands, 2001) | 8,511 | (X) | (X) |
| Total Revenue | 42,788,178 | 100.00 | 5,027.40 |
| General revenue | 34,372,985 | 80.33 | 4,038.65 |
| Utility revenue | 525,640 | 1.23 | 61.76 |
| Liquor store revenue | – | – | – |
| Insurance trust revenue | 7,889,553 | 18.44 | 926.98 |
| Exhibit: Salaries and wages | 5,330,587 | 14.15 | 626.32 |
| Total expenditure | 37,659,554 | 100.00 | 4,424.81 |
| General expenditure | 30,476,649 | 80.93 | 3,580.85 |
| Education | 10,397,395 | 27.61 | 1,221.64 |
| Public welfare | 5,813,422 | 15.44 | 683.05 |
| Hospitals | 1,257,365 | 3.34 | 147.73 |
| Health | 905,061 | 2.40 | 106.34 |
| Highways | 2,176,802 | 5.78 | 255.76 |
| Police protection | 404,771 | 1.07 | 47.56 |
| Correction | 1,206,768 | 3.20 | 141.79 |
| Natural resources | 352,582 | 0.94 | 41.43 |
| Parks and recreation | 430,370 | 1.14 | 50.57 |
| Government administration | 1,253,729 | 3.33 | 147.31 |
| Interest on general debt | 1,189,192 | 3.16 | 139.72 |
| Other and unallocable | 5,089,192 | 13.51 | 597.95 |
| Utility expenditure | 1,885,997 | 5.01 | 221.60 |
| Liquor store expenditure | – | – | – |
| Insurance trust expenditure | 5,296,908 | 14.07 | 622.36 |
| Debt at end of fiscal year | 29,727,858 | 100.00 | 3,492.87 |
| Cash and security holdings | 85,791,237 | 100.00 | 10,080.04 |