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Fort Lee council approves $63.65 million in claims, authorizes budget transfers and depositories for 2026
Summary
At its March 19 meeting the council approved CA-1 paying $63,651,485.94 in audited claims, authorized $232,500 in budget transfers and adopted the borough's 2026 list of bank depositories and cash-management plan.
The Fort Lee Mayor and Council approved a consent-agenda package on March 19 that included payment of audited claims totaling $63,651,485.94 and budget adjustments and banking designations for 2026.
The consent agenda item CA-1 authorized the payment of invoices and transfers with a listed total of $63,651,485.94, including wire transfers. Council also approved CA-13, authorizing 2025 appropriation reserve transfers totaling $232,500 across multiple departments (police, buildings and grounds, water, sewer, roads, community center and others) pursuant to N.J.S.A. 40A:4-58.
Separately, by resolution R-1 the council designated the borough's depositories for 2026, listing institutions including Bank of America, TD Bank, ConnectOne Bank, PNC, Noah Bank, Wilshire State Bank, Wells Fargo, Spencer’s Savings Bank, Santander, Kearny Bank, First Bergen Federal Credit Union, Freedom Bank, BCB Bank, Alma Bank and Valley National Bank. R-2 continued the borough’s Cash Management Plan for 2026 under N.J.S.A. 40A:5-14.
The consent agenda passed on roll call with AYES recorded for Council Members Sohmer, Yoon, Suh, Kasofsky and Cervieri.
