Document Text
--- Document: 26-07 - Calendar Year 2026 Ordinance to Exceed the Municipal Budget Appropriation Limits and to Establish A Cap Bank Document ---
BOROUGH OF RIVER EDGE
ORDINANCE 26-07
CALENDAR YEAR 2026
ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS
AND TO ESTABLISH A CAP BANK
(N.J.S.A. 40A: 4-45.14)
WHEREAS, the Local Government Cap Law, N.J.S. 40A: 4-45.1 et seq., provides that in the preparation
of its annual budget, a municipality shall limit any increase in said budget up to 2% unless authorized by
ordinance to increase it to 3.5% over the previous year’s final appropriations, subject to certain
exceptions; and,
WHEREAS, N.J.S.A. 40A: 4-45.15a provides that a municipality may, when authorized by ordinance,
appropriate the difference between the amount of its actual final appropriation and the 3.5% percentage
rate as an exception to its final appropriations in either of the next two succeeding years; and,
WHEREAS, the Borough of River Edge in the County of Bergen finds it advisable and necessary to
increase its CY 2026 budget by up to 3.5% over the previous year’s final appropriations, in the interest of
promoting the health, safety and welfare of the citizens; and,
WHEREAS, the Mayor and Council hereby determines that a 1.5% increase in the budget for said year,
amounting to $239,284.80 in excess of the increase in final appropriations otherwise permitted by the
Local Government Cap Law, is advisable and necessary; and,
WHEREAS the Mayor and Council hereby determines that any amount authorized hereinabove that is not
appropriated as part of the final budget shall be retained as an exception to final appropriation in either of
the next two succeeding years.
NOW THEREFORE BE IT ORDAINED, by the Borough of River Edge in the County of Bergen, a
majority of the full authorized membership of this governing body affirmatively concurring, that, in the
CY 2026 budget year, the final appropriations of the Borough of River Edge shall, in accordance with this
ordinance and N.J.S.A. 40A: 4-45.14, be increased by 3.5%, amounting to $558,331.20, and that the CY
2026 municipal budget for the Borough of River Edge be approved and adopted in accordance with this
ordinance; and,
BE IT FURTHER ORDAINED, that any amount authorized hereinabove that is not appropriated as part
of the final budget shall be retained as an exception to final appropriation in either of the next two
succeeding years; and,
BE IT FURTHER ORDAINED, that a certified copy of this ordinance as introduced be filed with the
Director of the Division of Local Government Services within 5 days of introduction; and,
BE IT FURTHER ORDAINED, that a certified copy of this ordinance upon adoption, with the recorded
vote included thereon, be filed with said Director within 5 days after such adoption.