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Fort Lee Parking Authority introduces $4.85 million 2026 budget; adoption set for Oct. 28
Summary
The Fort Lee Parking Authority introduced an Annual Budget showing $4,849,588 in revenues and appropriations for 2026 and a $95,000 capital program; the board approved introduction and scheduled formal adoption for Oct. 28, 2025.
The Fort Lee Parking Authority on Oct. 7 introduced its Annual Budget for the fiscal year Jan. 1–Dec. 31, 2026, showing Total Revenues of $4,849,588.00 and Total Appropriations of $4,849,588.00. Executive Director Hernani Goncalves presented the budget and noted the Capital Budget/Program includes $95,000 in capital appropriations for planning purposes.
The board recorded that the Capital Budget/Program, pursuant to N.J.A.C. 5:31-2, does not itself authorize spending and must be followed by separate project-specific authorizations. Commissioners voted to introduce the budget and set a public adoption hearing for Oct. 28, 2025; the motion was made by Michael Raskin and seconded by J. Richard Radoian and recorded as approved unanimously. The resolution text also affirms that the schedule of rents, fees, and other charges is expected to produce sufficient revenues to meet obligations, debt service, and operating expenses.
