O’Toole seeks special meeting of Senate Budget Committee to look at Newark’s finances

The Republican senator from Essex County wants Senate President Steve Sweeney (D-3) to convene a special meeting of the Senate Budget and Appropriations Committee “to better understand Newark’s budgetary situation and needs.”

In a letter he sent today to Sweeney, State Sen. Kevin O’Toole (R-40) cited Newark’s possible request of $28 million to $30 million in transititional aid, as well as a $63.4 million budget gap in the city’s 2014 budget.

“As a member of the Senate Budget and Appropriations Committee, I believe that it will be beneficial to the members of our committee to better understand not only the financial needs of Newark, but also to obtain a more in depth knowledge of their finances.

“As a state we have made significant investments in Newark, through direct state aid, transitional aid, school funding, economic development programs and incentives, higher education, and healthcare,” O’Toole added. “…We as stewards of the state’s finances should begin the process of reviewing and intervening to ensure we not only provide the resources to help Newark and its residents thrive, but also to prevent the wasting of taxpayer dollars.”

O’Toole seeks special meeting of Senate Budget Committee to look at Newark’s finances