● Cap bank established -- The council unanimously approved an ordinance to exceed the municipal budget appropriation limit and to establish a cap bank.
Councilwoman Brenda O’Dell was absent.
New Jersey law authorizes municipalities to increase spending by 3.5 percent from the previous year through a maximum cost of living adjustment of 2.5 percent. The 1 percent difference may be “banked” in a cap bank that gives the municipality more leeway when faced with unanticipated increases above 2.5 percent.
● Memorial Day approved -- Council members unanimously approved the Memorial Day Parade planned for Monday, May 25.
● Employee handbook -- Borough attorney Robert McBriar said he received final comments from the chief financial officer and borough clerk on the employee handbook. He said he will incorporate the changes for review at the next meeting.