TRENTON, N.J. (CBSNewYork/AP) -- Projections for New Jersey's $28.4 billion budget remain largely on track this year.

Budget officer David Rosen told the Senate Budget Committee on Monday that revenue was projected to grow by $1.1 billion due to the improving economy. The number was close to the $1.2 billion in projected growth contained in Gov. Chris Christie's 2012 budget, which was presented last month.

However, revenue collections were still $4 billion below what the state was taking in in 2008.

Rosen said he still had no information on whether the administration will achieve the $50 million in savings it had assumed from privatizing some state services.

State Treasurer Andrew Sidamon-Eristoff appearance was postponed until Wednesday because of a conflict with a meeting on redrawing the state's Legislative maps.

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