This page outlines the budget documents and presentations given to Council as well as a schedule of upcoming budget related meetings. Click on Financial Documents on the left menu bar for a full listing of past budgets, audits and other information.
2017 Budget Process
Monday, November 14, 2016. A presentation on an ordinance that would establish an annual electric utility financial performance adjustment program.
Monday, October 24, 2016. A presentation on the financial performance of the Electric Utility was given to Council.
Monday, January 1, 1 pm. Council Meeting. The Council approved the Temporary Budget as per NJSA 40A:4-19. Watch the Council meeting video.
Monday, January 25, 8 pm. Council Meeting. A report and presentation on the Open Space Trust Fund was given to Council. The Council also discussed revised 5 Year Capital Plan figures and approved introduction of ordinances related to the 2016 road reconstruction program. Watch the Council meeting video.
Friday, January 29. The Annual Debt Statement was filed with the Borough Clerk and the Director of the State of NJ Division of Local Government Services as per NJSA 40A:2-40.
Monday, February 1, 7 pm. Council Meeting. Council received reports and a presentations on the Utility Budgets, draft Electric Procurement Guidelines, and the Municipal Budget Summary. Watch the Council meeting video.
Monday, February 8, 8 pm. Council Meeting. Various Department Heads gave a presentation on their goals and accomplishments and answered questions about their budgets. A presentation on capital budgets was also given to Council.
Monday, February 22, 8 pm. Council voted to move forward and have this budget information input into the official state budget document for introduction at the March 14th council meeting.
Monday, March 14, 8pm. Council Meeting. As per NJ State Statute 40A:4-5 et seq the governing body shall introduce and approve the budget for hearing no later than March 18. As such the Official State of New Jersey Budget Document was introduced on March 14th. Copies of the document are available at the Madison Public Library, County Library and the Madison Borough Clerk’s office. The state budget document is summarized in this document.
The budget document was sent to the State of NJ Director of the Division of Local Government Services (DLGS) where it was reviewed for accuracy and compliance with Local Budget Law and the regulations of the DLGS. During this time, the budget was advertised and available for review by the public. As per NJSA 40A:4-7, no budget shall be adopted until a public hearing has been held. Such hearing shall be held not less than 28 days after the introduction of the budget.
April 11, 8pm. Council Meeting. The Mayor and Council held a hearing on the budget. Following the hearing, R-120-2016 was introduced which made small amendments to the budget as requested by the Division of Local Government Services. Following the approval of R-120-2016, Council voted to approve the budget and pass R-121-2016. As such, the final amended Official State of New Jersey Budget Document was approved.
Monday, February 9th, 8 pm. The Council received a report on the Initial Municipal Budget. Staff were also be on hand to review individual department budgets and capital requests. Watch the Council meeting video.
January 13, 2014. Preliminary Capital Budget. The Capital Budget was discussed in detail with Administration advocating for a $3.5 million Capital Budget for 2014. A detailed 5 Year Capital Plan was also presented and discussed.
On Saturday, March 2, 2013, The Borough held a Budget Meeting and discussed the Board of Health and Dog Regulation, the Water Utility Administrative and Field staff, the Electric Utility Administrative and Field staff and the Capital Budget items. There was also a discussion of the Final Budget Adjustments. Please click here to see the agenda and supporting documents, and click here for the full Budget presentation.
On Monday, March 11, 2013, the 2013 Budget was introduced by the Borough Council. Please click here to see the full Budget document as introduced.