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Eatontown Council adopts ordinance to exceed cap and amends 2026 budget
Summary
Council adopted Ordinance 08‑2026 to permit up to a 3.5% increase under the Local Government Cap Law and amended the 2026 municipal budget to add a $35,526 NJDEP leaf‑composting grant and other line‑item adjustments.
The Borough Council adopted Ordinance 08‑2026 authorizing the municipality to exceed the Local Government Cap Law limit and to establish a CAP bank that allows up to a 3.5% increase in final appropriations. Auditor William Oliwa read the ordinance language stating the borough would "increase its CY 2026 budget by up to 3.5%," an amount the ordinance identifies as $1,005,124.89. The adoption passed on a roll-call vote with all members recorded as voting AYE.
During the public hearing on the municipal budget, Auditor Oliwa presented the 2026 budget and tax levy chart and fielded council questions about revenue assumptions including cannabis receipts and anticipated development. The council also adopted Resolution 102‑2026 to amend the previously introduced budget: the amendment adds a $35,526 NJDEP leaf composting grant and adjusts general revenues and appropriations as reflected in the official amendment. Resident questions during the hearing focused on Netflix‑related receipts and how special revenues are tracked; officials said those receipts are managed separately and answered questions about their intended uses.
