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 2021 Operating Budget for the City of Newark. Funding Source: City Budget Appropriation Amount: $70,122,928.00 Budget Year: 2021 Budget Contract Period: January 1, 2021 through March 31, 2021 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) N/A Additional Information: Funds accepted by Resolution Operating Agency: Various Departments Two-Thirds vote of full membership required.