Title
Dept/ Agency: Administration/Office of Management and Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Cancellation of 2016 Appropriations
Purpose: Cancellation of part, or of all, unencumbered balances in the Budget Appropriations for the 2016 Current Fund
Amount Transferred: $0.00
Transferred From: $0.00
Transferred To: $0.00
Additional Information:
Cancellation of all the unencumbered balances appropriated from the 2016 current fund in the amount of $10,644,011.94
Two-Thirds vote of full membership required.
body
WHEREAS, N.J.S.A 40A:4-60, as amended, provides for cancellations of part, of all of the unencumbered balances in the Budget Appropriations for the 2016 Current Fund; and
WHEREAS, there are no specific claims, commitments, or contracts incurred against the following balance and the details are attached:
2016 Current Fund $10,644,011.94
WHEREAS, the 2016 Current Fund of $10,644,011.94 will be cancelled.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
The 2016 Current Fund balance totaling $10,644,011.94 is cancelled in the 2016 budget.
STATEMENT
This resolution provides for cancellations of part, or of all, unencumbered balances in the Budget Appropriations for the 2016 Current Fund in the amount of $10,644,011.94 effective December 31, 2016.