The purpose of this chapter is to place financial caps of fees
certain professionals can be paid during their appointed term of engagement
with the Borough of Northvale paid by the Borough of Northvale. This
will assist future governments during the budgetary process and protect
all Northvale taxpayers from unanticipated professional fees and encourage
all prospective professionals to work on a retainer basis.
Each type of professional named in this chapter is one typically
hired each year during the Annual Reorganization meeting. The definition
of each professional should be interpreted liberally. If a professional
is not listed as part of this chapter, an annual fee must be proffered
between the prospective professional and accepted by a majority vote
of the Mayor and Council.
The fee limits are not guarantees of payment and shall be written
into all professional services agreements. Each professional services
agreement shall reference this chapter and bind all professionals
contained as part of this chapter.
A majority vote of the Mayor and Council is required to exceed
any professional fee limit either at the point of engagement or on
an as-needed basis.
Professionals are not entitled to unspent/unaccumulated monies
"under" the fee limit.
The fee limits will increase each calendar year (January 1 through
December 31) at a rate of 2%.
As used in this chapter, the following terms shall have the
meanings indicated:
PROFESSIONAL FEE
Those fees paid out of Borough monies for services performed.
Fees arising from services performed not included in the RFP as an
included service must be agreed upon by the Mayor and Council prior
to performing service. Excluded are those paid from escrow accounts
related to individual projects.