Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Budget topic
No spam. Unsubscribe anytime.
Ogdensburg council adopts ordinance to exceed budget cap and establishes cap bank
Summary
On April 28 the Ogdensburg council approved Ordinance 02-2025 to exceed municipal budget appropriation limits and create a cap bank under New Jersey law; the CFO provided an explanation when asked and the council voted to adopt the ordinance.
The Borough of Ogdensburg approved Ordinance 02-2025 on April 28, 2025, which authorizes the municipality to exceed the municipal budget appropriation limits and establish a cap bank pursuant to N.J.S.A. 40A:4-45.14.
Councilman Ciasullo moved for adoption and Councilman DeMeo seconded. During public comment, resident Vicki Schroder asked what the ordinance was for; CFO Mike Marceau provided a brief explanation of the ordinance’s purpose. Following the explanation, the council proceeded to a roll-call vote and recorded unanimous approval on the ordinance as presented.
Ordinance 02-2025 allows the borough to reserve unused tax levy growth capacity in a cap bank for use in future budgets under state statutory rules. The council scheduled no additional changes to the ordinance at the April 28 meeting. The ordinance was adopted in open session and will be reflected in the borough’s budget filings as required under state law.
