Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: External Transfer of Funds
Purpose: External Transfer of Reserve Funds will allow the City of Newark to pay outstanding vehicle repair bills and relocation services obligations.
Amount Transferred: $417,875.00
Transferred From: Engineering and Health and Community Wellness Departments
Transferred To: Engineering and Health and Community Wellness Departments
Additional Information:
All Wards
Two-Thirds vote of full membership required.
body
ETR-# 1
WHEREAS, N.J.S.A. 40A:4-59 provides for appropriation transfers during the first three (3) months of the current year's budget, in order to satisfy claims authorized or incurred during the preceding year's budget.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. Not less than two-thirds of all members thereof affirmatively concur.
2. Additional funds are required as shown in the schedule below.
3. Pursuant to N.J.S.A. 40A:4-59, transfers of appropriations be and are hereby authorized as follows:
FROM: DEPARTMENT OF ENGINEERING
Motors
Materials and Supplies $384,875.00
Equipment 3,000.00
Sheet #15n
DEPARTMENT OF HEALTH & COMMUNITY WELLNESS
Social Services
Services by Contract or Agreement 30,000.00
Sheet #15q
Total External Transfer of Reserves $417,875.00
TO: DEPARTMENT OF ENGINEERING
Motors
Services by Contract or Agreement $387,875.00
Sheet #15n
DEPARTMENT OF HEALTH & COMMUNITY WELLNESS
Social Services
Miscellaneous 30,000.00
Sheet # 15q
Total External Transfer of Reserves $417,875.00
STATEMENT
This External Transfer of Reserves will allow the City of Newark to pay outstanding vehicle repair bills and relocation services obligations. (All Wards)