Dept/ Agency: Administration/Office of Management and Budget Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Temporary Emergency Appropriation Purpose: To provide funds for pensions until the adoption of the 2025 Operating Budget for the City of Newark. Funding Source: 2025 Budget Appropriation Amount: $94,199,489.47 Budget Year: 2025 Contract Period: January 1, 2025 through December 31, 2025 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a Additional Information: Operating Agency: All Departments Two-Thirds vote of full membership required.