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BRICK TOWNSHIP — The township council approved an ordinance establishing a cap bank at the Tuesday, April 11 council meeting.
The ordinance allows the township to increase budget appropriations by 3.5 percent over the prior year’s appropriations and to bank any appropriation room for the next two succeeding years.
The money available for this ordinance may be used to offset costs of any future disasters or need for any future appropriation, according to Councilwoman Andrea Zapcic.
The available funds, if needed, in the cap bank would amount to $3,080,201 and is permitted by local government cap law.
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