New Jersey Statutes 52:27D-376. Reduction of grants
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Terms Used In New Jersey Statutes 52:27D-376
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
If in any fiscal year the total amount of grant applications received by the department exceeds the total amount of the fund, the commissioner shall reduce each qualifying applicant’s grant on a pro rata basis in order to not exceed the total dollar amount of the fund appropriated for that fiscal year.
L. 1987, c. 50, s. 11.