Dept/ Agency: Administration/Office of Management and Budget Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: External Transfer of Reserve Funds Purpose: External Transfer of Reserves Funds will allow the City of Newark to pay outstanding obligations. Amount Transferred: $16,769,000.00 Transferred From: Various Departments Transferred To: Various Departments Additional Information: Two-Thirds vote of full membership required.