EXPLANATORY STATEMENT - (Continued)
BUDGET MESSAGE
CAP CALCULATION
Total General Appropriations for 2024
30,017,234.30
Cap Base Adjustment:
Subtotal
30,017,234.30
Exceptions Less:
Total Other Operations
120,000.00
Total Uniform Construction Code
Total Interlocal Service Agreement
80,000.00
Total Additional Appropriations
Total Capital Improvements
4,000,000.00
Total Debt Service
2,877,192.00
Transferred to Board of Education
Type I School Debt
Total Public & Private Programs
2,261,557.40
Judgements
Total Deferred Charges
524,219.90
Cash Deficit
Reserve for Uncollected Taxes
1,900,000.00
Total Exceptions
11,762,969.30
Amount on Which CAP is Applied
18,254,265.00
2.5% CAP
456,356.63
Allowable Operating Appropriations before
Additional Exceptions per (N.J.S.A. 40A:4-45.3)
18,710,621.63
CAP CALCULATION
Allowable Operating Appropriations before
Additional Exceptions per (N.J.S.A. 40A:4-45.3)
18,710,621.63
Additions:
New Construction (Assessor Certification)
29,000.88
2023 Cap Bank Available
309,962.16
2024 Cap Bank Available
1,069,973.98
Total Additions
1,408,937.02
Maximum Appropriations within "CAPS" Sheet 19 @
2.5%
20,119,558.65
Additional Increase to COLA rate.
3.5%
Amount of Increase allowable.
1.0%
182,542.65
Maximum Appropriations within "CAPS" Sheet 19 @
3.5%
20,302,101.30
Total General Appropriations for Municipal Purposes
(Sheet 19, H-1)
20,055,750.00
Over or (Under) Appropriations Cap
(246,351.29)
Sheet 3b
NOTE: MANDATORY MINIMUM BUDGET MESSAGE MUST INCLUDE A SUMMARY OF:
1. HOW THE "CAP" WAS CALCULATED. (Explain in words what the "CAPS" mean and show the figures.)
2. A SUMMARY BY FUNCTION OF THE APPROPRIATIONS THAT ARE SPREAD AMONG MORE THAN ONE OFFICIAL LINE ITEM
(e.g. if Police S & W appears in the regular section and also under "Operation Excluded from "CAPS" section, combine the figures for purposes of citizen understanding.)