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South River council introduces ordinance to use 3.5% budget cap bank for 2026
Summary
The Borough introduced Ordinance 2026-01 to authorize increasing the 2026 municipal budget up to 3.5% over the prior year, creating a cap-bank allowance of $530,528.04 for future budgets if not spent. The move was introduced on first reading Jan. 19 and will return for final adoption.
The South River Borough Council on Jan. 19 introduced Ordinance 2026-01, which would allow the municipality to exceed the Local Government CAP Law budget increase and establish a cap bank for calendar year 2026. The ordinance states the borough may increase its budget by up to 3.5%, amounting to $530,528.04 above the otherwise permitted increase.
The ordinance text, read by Municipal Clerk Alyssa Hager, cites N.J.S.A. 40A:4-45.1 et seq. and describes that any amount authorized but not appropriated in the final budget may be retained as an exception for either of the next two succeeding years. The ordinance was introduced by title on first reading; the clerk noted that a certified copy of the introduced ordinance will be filed with the Director of the Division of Local Government Services within five days as required by law.
