Title
Dept/ Agency: Administration/Office of Management & Budget
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Temporary Emergency Appropriation
Purpose: To provide funds for pensions until the adoption of the 2016 Operating Budget for the City of Newark
Funding Source: City of Newark Budget
Appropriation Amount: $40,585,272.93
Budget Year: 2016
Contract Period: March 1, 2016 through March 31, 2016
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information:
Funds accepted by Resolution #
Operating Agency: All Departments
Two-Thirds vote of full membership required.
body
TE-#7
WHEREAS, pursuant to N.J.S.A. 40A:4-19 the Municipal Council of the City of Newark adopted Resolution 7R1-m dated December 16, 2015 to provide funds for the period January 1, 2016 to March 31, 2016 until the adoption of the Operating Budget of the City of Newark, New Jersey; and
WHEREAS, additional appropriations will be required from March 1, 2016 to March 31, 2016, until the adoption of the budget; and
WHEREAS, N.J.S.A. 40A:4-20 provides that the Governing Body by a two-thirds vote may make temporary emergency appropriations for any purpose for which appropriations may lawfully be made for the period between the beginning of the current fiscal year and the date of the adoption of the budget for said year; and
WHEREAS, the emergency appropriations adopted in 2016 pursuant to N.J.S.A. 40A:4-20 including this resolution total................................................$146,032,699.93
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Governing body by a two-thirds vote of its full membership hereby amends its temporary budget by...
Click here for full text