Hampton releases draft 2026 budget; staff seeks $1.5M TRAN and up to $300,000 transfer to capital fund

Administration presented the township—s draft 2026 budget and said it will be available for public review ahead of a Dec. 3 public hearing and a Nov. 10 budget workshop at the community center. The draft budget assumes "no tax increase" and projects modest increases in revenues and expenses in the roughly 2.5% range compared with 2025, administration told the council.

The draft capital plan prioritizes several major projects, including a Public Safety Building, improvements at the Route 8/Wildwood Road intersection and renovations in the public works department, administration said. Staff also said this year—s capital cap is smaller than 2025—s because of bond interest limitations.

To cover a large debt-service payment due in January, staff asked council to authorize soliciting proposals for a tax-revenue anticipation note (TRAN) of about $1.5 million and said the township typically issues requests for proposals to several local banks. Administration said the township—s depository often posts the best rate but that staff seeks competitive proposals.

Staff told the council the year-end figures could yield a revenue-over-expense surplus of roughly $200,000 to $300,000 and requested authorization to transfer up to $300,000 from the general fund to the capital improvement fund to help finance the 2026 capital improvement program. Administration said no transfer would be made until the 2025 books are closed and that the exact amount would be reported when transferred.

Council members asked procedural questions about timing; administration said detailed questions would be taken after the narrative and at the Nov. 10 workshop. No formal vote was recorded in the meeting transcript; staff presented these as requests for authorization to be acted on in a future agenda.

Why this matters: The TRAN and the proposed transfer would affect short-term cash flow and the township—s ability to start or sequence capital work in 2026. The draft budget and the proposed transfers set the parameters for public comment at the Dec. 3 hearing and for formal adoption later this winter.