ORDINANCE #2006-1
“CAP” 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.A. 40A:4-45.1 et seq. provides that in the preparation of its annual budget, a municipality shall limit any increase in said budget to 2.5% 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 Township Committee of the Township of Bordentown, in the County of Burlington, finds it advisable and necessary to increase its CY 2006 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 Township Committee hereby determines that a one percent increase in the budget for said year, amounting to $47,689.18, in excess of the increase in final appropriations otherwise permitted by the Local Government Cap Law, is advisable and necessary; and
WHEREAS, the Township Committee 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 Township Committee of the Township of Bordentown, in the County of Burlington, a majority of the full authorized membership of this governing body affirmatively concurring, that, in the CY 2006 budget year, the final appropriations of the Township of Bordentown shall, in accordance with this ordinance and N.J.S.A. 40A:4-45.14, be increased by one percent, amounting to $47,689.18, and that the CY 2006 Municipal Budget for the Township of Bordentown 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.
INTRODUCTION
AYE NAY ABSENT ABSTAIN
Committeeman Morelli X
Committeeman Hill X
Committeeman Delaney X
Deputy Mayor Chidley X
Mayor Roselli X
ADOPTION
AYE NAY ABSENT ABSTAIN
Committeeman Morelli
Committeeman Hill
Committeeman Delaney
Deputy Mayor Chidley
Mayor Roselli
INTRODUCED: JANUARY 9, 2006
ADOPTED: