Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: External Transfer of Funds
Purpose: Judgments received from the Passaic County Board of Taxation increasing the assessments on 111 parcels of land owned by the City of Newark in West Milford Township
Amount Transferred: $ 829,600.00
Transferred From: Water Utility
Transferred To: Water Utility
Additional Information:
Two-Thirds vote of full membership required.
body
ET-#W1
WHEREAS, N.J.S.A. 40A:4-58 provides for appropriation transfers during the last two (2) months of the current year's budget, in order to satisfy claims authorized or incurred during the current year's budget.
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 below.
2. Pursuant to N.J.S.A. 40A:4-58, transfers of appropriations be and are hereby authorized as follows:
FROM: Department of Water Utility
Water Supply
Salaries and Wages $829,600
Sheet #32a
Total External Transfer $829,600
TO: Department of Water Utility
Water Supply
Miscellaneous $829,600
Sheet #32a
Total External Transfer $829,600
3. A copy of this resolution shall be filed with the Director of the Division of Local Government Services by the City Clerk of the City of Newark.
STATEMENT
This External transfer of funds will provide sufficient funds for various divisions in the Department of Water Utility.