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ORDINANCE 2017-14 ORDINANCE 2017-14 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.A. 40A: 4-45.1 et seq., provides that in the preparation of its annual budget, a municipality shall limit any increase in said budget to 1.5%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 Township Council of the Township of Cherry Hill in the County of Camden finds it advisable and necessary to increase its SFY 2018 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 Township Council hereby determines that a 3.5%increase in the budget for said year, amounting to$1,011,786.43 in excess of the increase in final appropriations otherwise permitted by the Local Government Cap Law, is advisable and necessary; and WHEREAS the Township 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. SECTION I. NOW THEREFORE BE IT ORDAINED, by the Township Council of the Township of Cherry Hill, in the County of Camden, a majority of the full authorized membership of this governing body affirmatively concurring, that, in the SFY 2018 budget year, the final appropriations of the Township of Cherry Hill shall, in accordance with this ordinance and N.J.S.A. 40A: 4-45.14, be increased by 3.5%, amounting to $1,770,626.26, and that the SFY 2018 municipal budget for the Township of Cherry Hill be approved and adopted in accordance with this ordinance. 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. BE IT FURTHER ORDAINED, that a certified copy of this ordinance as introduced be filed with the Director of the Division of Local Government Services within 5 days of introduction. BE IT FURTHER ORDAINED, that a certified copy of this ordinance upon adoption,with the recorded vote included thereon, be filed with said Director within 5 days after such adoption. SECTION II. All ordinance or parts of ordinances inconsistent with this ordinance are hereby repealed to the extent of such inconsistency only. SECTION III. This Ordinance shall take effect immediately upon successful adoption. INTRODUCED: AUGUST 14, 2017 ADOPTED: SEPTEMBER 25, 2017 CHARLES M. CAHN MAYOR ATTEST: COU IL PRESIDEN NANCY L. SAC FOS, RM TOWNSHIP CLERK