Dems press Sidamon-Eristoff on Treasury, OLS revenue projections gap

TRENTON – Assembly Democrats told Treasurer Andrew Sidamon-Eristoff today the revenue projections gap between his office and the Office of Legislative Services is wide and asked the Treasurer several times if he’s confident with the administration’s budget moving forward.

“Are you comfortable with these revenue projections as they stand?” Assemblyman John Burzichelli, (D-3), Paulsboro, asked the treasurer after telling him it’s prudent to have a tough conversation concerning the budget numbers at this time.

“I am comfortable with them today, but I’m also cognizant of the risk going forward,” Sidamon-Eristoff responded. “I recognize that we have another couple of months before the end of the current fiscal year and all of Fiscal 2013, and it’s quite possible there will be changes.”

Sidamon-Eristoff said the changes can be positive or negative, but added, “We think it’s appropriate to continue with the budget planning process” as is.

“Again, do you think we’re stepping off on the right foot,” Burzichelli asked again.

“I’m comfortable of where we are as of now,” Sidamon-Eristoff said.

Assembly Democrats questioned Sidamon-Eristoff over a $628 million gap between the Treasury’s expected budget revenue shortfall and the $1.3 billion revenue gap the non-partisan OLS is predicting.

Dems press Sidamon-Eristoff on Treasury, OLS revenue projections gap