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Riverside committee adopts ordinance to exceed municipal budget caps, establishes CAP bank
Summary
The Riverside Township Committee unanimously adopted Ordinance 2026‑#1 on second and final reading to exceed municipal appropriation limits and create a CAP bank, the committee said, after no public comment during the hearing.
The Riverside Township Committee on April 20 unanimously adopted Ordinance 2026‑#1, allowing the township to exceed municipal budget appropriation limits and to establish a CAP bank.
Mayor Haman opened the ordinance’s public portion; no members of the public spoke. Ms. Leith moved and Mr. Kimble seconded a motion to close the public portion and to pass the ordinance on second and final reading, and the motion carried with all five committee members voting yes.
The ordinance is intended to allow the township to exceed current municipal budget appropriation limits under the procedures available to New Jersey municipalities and to create a CAP bank for future budget flexibility. The committee did not identify a specific dollar amount tied to the CAP bank during the meeting; budget documents and the municipal clerk’s office hold the full ordinance text and financial detail.
The adoption followed routine agenda procedures and will be reflected in the township’s adopted 2026 budget documents and filings with the municipal clerk.
The committee did not discuss additional amendments at the meeting; the ordinance passed on the second and final reading and the clerk certified its adoption.
