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Paramus commission told farmers market trust will be re-encumbered into general fund; donations must be designated
Summary
Staff told the Paramus Environmental Commission the farmers market trust account will be dissolved and re-encumbered into the general fund; re-establishing a market will require reapplication and donations must be earmarked for specific events.
Borough staff told the Paramus Environmental Commission on May 6 that the farmers market trust account will be dissolved and its balance re-encumbered into the borough general fund, and that if the commission wants a farmers market next year it would need to reapply.
Nicole Smith, borough staff, explained that the borough chief financial officer (CFO) handles trust accounts and reapplications. Commissioners asked whether funds could be redirected to commission activities; Smith said trust funds must be used only for the purposes listed in the trust and that donations are accepted via check but must be designated for a specific item or event so they can be pulled from the town's donation fund at the time of expense.
Commissioner Robert Riccoboni asked whether the commission could take some of the dissolved trust funds for PEC use; Smith and Councilman Ace Antonio replied that this is not permitted because trust funds are restricted to their titled purpose. Smith also listed current commission fund line items that include food, special events and books/dues/periodicals.
The commission discussed the logistics and timing for a possible future farmers market and noted that any re-establishment would go through the CFO and require formal steps; no timeline or amounts were specified during the meeting.
