New Jersey secured an estimated $22.155 billion in federal revenue in FY2024, which supported 609 state-administered programs, according to a report released this week by the State Department of Treasury’s Grants Management Office.
Although federal funds awarded to New Jersey were down slightly (-6%) from the prior year due to the expiration of some COVID funding programs, federal funding was still 56% higher in FY2024 than in FY2019, the last fiscal year before the COVID-19 pandemic.
State Treasurer Elizabeth Maher Muoio said the increase was a testament to the proactive efforts of New Jersey’s agencies to pursue new federal funding opportunities.
“By actively seeking and securing valuable grant opportunities, we are ensuring critical state programs have the resources they need to support New Jerseyans and fulfill their missions,” Muoio said in a statement on Wednesday.
The report lists federal revenue on a state fiscal year basis and includes descriptive program information to provide a better understanding of the federal programs used by New Jersey State agencies, and of the levels at which those programs are funded.
The lion’s share (72%) of New Jersey’s FY2024 federal funds were for programs administered by the state Department of Human Services, followed by the state Department of Education (12%).
Medicaid was the largest program supported by federal funds, accounting for $13.913 billion. Other programs which received federal funding included school breakfast and lunch programs, preschool support, violence prevention services, water and land conservation initiatives, and cancer prevention programs, among others.
Established by a 2021 law, Treasury’s Grants Management Office assists in reducing and removing barriers to federal grant funding through identifying grant opportunities, advocacy, and coordination among federal grant applicants across the state.
The Grants Management Office works with local governments, state agencies and nonprofit organizations to provide resources to help build the capacity of those applying for and administering federal grants in New Jersey. The Grants Management Office does not award or apply for any grant funding.
Go here to read the full GMO report.
