Board approves cancellation of $14.0 million in old capital authorizations to reduce unfunded liability
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Summary
Hunterdon County commissioners approved a capital cancellation resolution totaling $14,001,742.04 for completed, abandoned or outdated projects, including a $8,846,454.92 reduction to deferred charges unfunded, lowering the county's authorized debt percentage under the Local Bond Law.
On Sept. 16, 2025, the Hunterdon County Board of County Commissioners approved a resolution cancelling unspent balances from prior capital ordinances totaling $14,001,742.04.
Chief Financial Officer Andrew Bernat said the cancellations cover 33 ordinances adopted between 2012 and 2024; state best‑practice guidance calls for annual review and cancellation of balances for projects completed, abandoned or outdated more than five years. Bernat said $8,846,454.92 of the total will be cancelled to reduce the county’s deferred charges unfunded balance, which lowers the county’s authorized debt percentage under the Local Bond Law and the supplemental debt statement filed with the New Jersey Department of Community Affairs.
The board approved the cancellation by roll call. Commissioners noted the action reduces the county’s unfunded liability and further lowers the county’s already low percentage of authorized debt (Bernat cited an authorized debt percentage of 0.249% on the most recent supplemental debt statement). Commissioner Rich moved to approve the resolution; Commissioner Van Doren seconded.
Bernat said the practice complies with state guidance and is intended to clear old authorizations from the county books so future capital planning reflects accurate available capacity.