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EXPLANATORY STATEMENT- (Continued)

BUDGET MESSAGE

2013 CAP Calculation

The Borough has elected to increase the "CAP" to 3.5%.

Below is how the CAP is calculated for 2013.

General Appropriations for 2012

$

1,561,366.00 Amount on which 3.5% CAP is applied

939,407.00

CAP Base Adjustment

3.5% CAP

32,879.25

Subtotal

1,561,366.00

Allowable operating appropriations before additional

Exceptions:

exception per (NJSA 40A:4-5.2)

972,286.25

Less:

Total Other Operations

67,342.00 Add on modifications:

Total Interlocal Service

24,000.00

Total Public & Private Programs

6,907.00 New Construction

872.26

Total Capital Improvements

61,000.00 2011 CAP

13,895.24

Total Municipal Debt Service

334,629.00 2012 CAP Bank

54,794.56

Total Deferred Charges

Reserve for Uncollected Taxes

128,081.00 Total allowable appropriations

$ 1,041,848.31

The total general appropriations for municipal purposes within "CAPS", as

indicated at item (H-1) sheet 19 of this budget document.

1,041,786.00

Total Exceptions

621,959.00

Under CAP

62.30

NOTE:

Sheet 3b-1

MANDATORY MINIMUM BUDGET MESSAGE MUST INCLUDE A SUMMARY OF:

1. HOW THE 1977 "CAP" WAS CALCULATED. (Explain in words what the "CAPS" mean and show the figures.)

2. 2013 "CAP" LEVY WORKBOOK SUMMARY

3. 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 "Operations Excluded from "CAPS" section, combine the

figures for purposes of citizen understanding.)

4. INFORMATION OR A SCHEDULE SHOWING THE AMOUNTS CONTRIBUTED FROM EMPLOYEES, THE EMPLOYER SHARE

AND THE TOTAL COST OF HEALTH CARE COVERAGE (Refer to LFN 2011-4).