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.