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Stockton Council adopts 2026 budget and ordinance to bank a 3.5% cap increase
Summary
Stockton Borough Council adopted Ordinance 2026-09 authorizing a 3.5% cap bank and approved the 2026 municipal budget, a one-cent tax increase equating to about $56 annually on a $475,000 home. Council also certified a local self-examination of the budget.
Stockton Borough Council on May 18 adopted Ordinance 2026-09 to permit a 3.5% increase in calendar-year 2026 final appropriations and voted to adopt the borough’s 2026 municipal budget.
The ordinance — which the council described as a placeholder to preserve budget flexibility until the new budget is finalized — allows the borough to increase appropriations to 3.5% over the prior year and to retain any unused amount as a cap bank for either of the next two years. The public hearing on the ordinance was opened and closed without public comment; the ordinance was adopted by roll call (Ayes: Brander, Brown, Fisher, Gilinger).
CFO Diane McDaniel reviewed the adopted 2026 budget at the public hearing and said the single-cent tax increase would raise about $56 annually for a home assessed at $475,000. McDaniel also summarized revenues and appropriations and noted Stockton’s part-time staffing means the borough is not facing rising employee health insurance costs. Auditor Mr. Zimmerman told the council the proposed budget is within both appropriation and levy caps and may be advanced to adoption.
After the public hearing closed with no comments, the council adopted Resolution 2026-64 to formally adopt the 2026 budget. The adopted budget lists total revenues and appropriations of $1,380,299.10 and an amount to be raised by taxation for municipal purposes of $587,662.83. Council later approved Resolution 2026-65 certifying Stockton’s eligibility to perform a local budget self-examination under NJAC rules; Diane McDaniel signed the certification.
What happens next: The ordinance includes procedural filing instructions to the Director of the Division of Local Government Services; the council noted that any amount authorized but not appropriated may be retained as an exception to final appropriation in the next two years.
