New Jersey secured an estimated $22.155 billion in federal revenue in FY2024. That’s according to a first-of-its-kind report released by the state’s Grants Management Office (GMO) which cited 609 state-administered programs received federal revenue on a state fiscal year basis.
Federal funds for FY2024 awarded to New Jersey were down slightly from the prior year due to the expiration of some COVID funding programs, however the state still secured an estimated $22.155 billion in federal revenue for the year – which is 56 percent higher than in FY2019, the last fiscal year before the COVID-19 pandemic.
“Securing this federal funding is critical to boosting programs that make New Jersey a stronger, fairer, and safer place to live—and Treasury’s Grants Management Office has furthered that mission since it was established in 2022. My Administration will continue to pursue opportunities for federal funding for crucial programs that provide children with free meals, make health care affordable, and prevent violence in our communities,” Gov. Phil Murphy said.
“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,” State Treasurer Elizabeth Maher Muoio said. “I’d like to thank the Grants Management Office for their work in compiling this report, which gives the State a better understanding of federal funding levels and will guide our future revenue pursuits.”
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.
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 GMO’s full report is available by clicking here.
