Progress Report on NJ’s Debt Load

April 14, 2023 | njspotlightnews.org

Figures included in the state’s latest “Annual Comprehensive Financial Report” track improvement in the category of bonded debt during the 2022 fiscal year, which ended June 30, 2022.

The total amount of money New Jersey owes its bondholders dropped by more than $4 billion year-over-year, according to the report.

The report also included new figures detailing progress made in the category of non-bonded debt, including new assessments of the cost of government-funded pension and health benefits, which are some of the state’s largest financial obligations.

NJ SEED: Reducing bonded indebtedness by more than $4 billion in one fiscal year is impressive. The State appears to be on the right fiscal track. Hopefully it will continue.