Title
Dept/ Agency: Administration/Office of Management and Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: External Transfer of Funds
Purpose: To transfer funds within Water Utility to provide sufficient funding until year end (City-wide)
Amount Transferred: $550,000.00
Transferred From: Water Utility
Transferred To: Water Utility
Additional Information:
The Schedule of the 2025 External Transfers of Funds ET#W1 is attached
Two-Thirds vote of full membership required.
body
ET - #W1
WHEREAS, additional funds need to be transferred, within the Water Utility, to provide sufficient funding until the end of the year; and
WHEREAS, N.J.S.A. 40A:4-58, authorizes the Municipal Council, by a two-thirds vote of its full membership, to transfer excess appropriations to those appropriations deemed insufficient.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. Additional funds are required, as shown, in the Schedule of the 2025 External Transfers of Funds attached.
2. The Municipal Council by a two-thirds vote of its full membership, pursuant to N.J.S.A. 40A:4-58, does hereby authorize the transfer of excess appropriations to those appropriations deemed insufficient as set forth below:
FROM: Water Utility
Water Supply
Salaries and Wages $300,000.00 (Sheet #32)
Capital Improvements
Capital Outlay
Other Expenses $250,000.00
(Sheet #32b)
Total External Transfer of Funds $550,000.00
TO: Water Utility
Water Supply
Other Expenses $550,000.00 (Sheet #32)
Total External Transfer of Funds $550,000.00
STATEMENT
This Resolution authorizes the transfer of funds within the Water Utility as listed in the Schedule of the 2025 External Transfers of Funds to provide sufficient funding until year-end (City-Wide).