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South River Council adopts ordinance to exceed municipal CAP and establish 2026 "cap bank"
Summary
The Borough of South River adopted Ordinance 2026-01 authorizing a 3.5% CAP increase (a $530,528.04 exception) for the 2026 municipal budget and creating a CAP bank that may be used in the next two succeeding years. No public comment was received at the hearing.
The Mayor and Borough Council of South River adopted Ordinance 2026-01 on Feb. 9, 2026, authorizing the borough to exceed the Local Government CAP Law baseline and to increase 2026 appropriations by up to 3.5%, a difference totaling $530,528.04. The ordinance directs the borough to retain any authorized amount not appropriated in 2026 as an exception to final appropriations usable in either of the next two years.
Chief Financial Officer Joseph Zanga explained the ordinance during the meeting's ordinance session and the clerk read the ordinance by title. Mayor Peter S. Guindi opened the floor for public comment; no members of the public came forward. The council closed the public hearing and adopted the ordinance, recorded as adopted on February 9, 2026.
