Public hearing for ordinance to exceed municipal budget limits in 2026.

BOROUGH OF SHREWSBURY
NOTICE OF PUBLIC HEARING ON ORDINANCE 2026-1140                                       
Public Notice Is Hereby Given That The Following Ordinance, Calendar Year 2026 Ordinance To Exceed The Municipal Budget Appropriation Limits And To Establish A Cap Bank  (N.J.S.A. 40a: 4-45.14) was introduced and passed on the first reading at a public meeting of the Borough Council of the Borough of Shrewsbury, County of Monmouth, State of New Jersey, held on February 10, 2026 at 6pm.  A copy of the ordinance can be obtained, without cost, by any member of the general public through the Office of the Municipal Clerk, 419 Sycamore Avenue, Shrewsbury, NJ 07702, Monday through Friday, 8:00am to 4:00pm or by emailing the Municipal Clerk at clerk@shrewsburyboro.com.
Further public notice is hereby given that said ordinance shall be considered for final passage and adoption at a public meeting of the Borough Council on Tuesday March 10, 2026 at 7:00pm.
 
                                                                 Kerry Martinez, RMC                    
                                                                Municipal Clerk, Borough of Shrewsbury
 
CALENDAR YEAR 2026 ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS AND TO ESTABLISH A CAP BANK  (N.J.S.A. 40A: 4-45.14)
 
WHEREAS, the Local Government Cap Law, N.J.S. 40A: 4-45.1 et seq., provides that in the preparation of its annual budget, a municipality shall limit any increase in said budget up to 2.0%, equating to $169,604.99 for the 2026 budget, unless authorized by ordinance to increase it to 3.5% over the previous year's final appropriations, subject to certain exceptions; and,
WHEREAS, N.J.S.A. 40A: 4-45.15a provides that a municipality may, when authorized by ordinance, appropriate the difference between the amount of its actual final appropriation and the 3.5% percentage rate as an exception to its final appropriations in either of the next two succeeding years; and,
WHEREAS, the Borough Council of the Borough of Shrewsbury in the County of Monmouth finds it advisable and necessary to increase its CY 2026 budget by up to 3.5% over the previous year's final appropriations, in the interest of promoting the health, safety and welfare of the citizens; and,
WHEREAS, the Borough Council hereby determines that a 1.5% increase in the budget for said year, amounting to $ 127,203.74 in excess of the increase in final appropriations otherwise permitted by the Local Government Cap Law, is advisable and necessary; and,
WHEREAS, the Borough Council hereby determines that any amount authorized hereinabove that is not appropriated as part of the final budget shall be retained as an exception to final appropriation in either of the next two succeeding years.
NOW THEREFORE BE IT ORDAINED, by the Borough Council of the Borough of Shrewsbury, in the County of Monmouth, a majority of the full authorized membership of this governing body affirmatively concurring, that, in the CY 2026 budget year, the final appropriations of the Borough of Shrewsbury shall, in accordance with this ordinance and N.J.S.A. 40A: 4-45.14, be increased by 1%, amounting to $ 127,203.74, and that the CY 2026 municipal budget for the Borough of Shrewsbury be approved and adopted in accordance with this ordinance; and,
BE IT FURTHER ORDAINED, that any that any amount authorized hereinabove that is not appropriated as part of the final budget shall be retained as an exception to final appropriation in either of the next two succeeding years; and,
BE IT FURTHER ORDAINED, that a certified copy of this ordinance as introduced be electronically filed with the Director of the Division of Local Government Services within 5 days of introduction; and,
BE IT FURTHER ORDAINED, that a certified copy of this ordinance upon adoption, with the recorded vote included thereon, be electronically filed with said Director within 5 days after such adoption.
February 14 2026
LNYS0459158
$67.76