An independent audit of Jersey City’s finances claims the city has overspent on health benefits, departments lack adequate internal controls for tracking revenue and spending, and the city doesn’t have a complete inventory of all the land, vehicles and equipment that it owns.
The city’s annual audit, which is required by state law, was released Friday. It examines Jersey City’s finances for 2025, the final year of former Mayor Steve Fulop’s 12-year tenure. The audit comes as city leaders grapple with a $255 million budget deficit that Mayor James Solomon and other officials describe as the Fulop administration’s overreliance on one-time revenue sources and accounting gimmicks.
City leaders are currently considering a new budget that will raise local property taxes at least 15% while making sweeping cuts to city services. The state government recently approved a $120 million aid package for Jersey City that includes strict oversight and conditions on how local finances are handled…