Dept/ Agency: Administration/Office of Management & Budget Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: External Transfer of Funds Purpose: External Transfer of Reserves Funds will allow the City of Newark to pay outstanding payroll, contractual and PSE&G obligations. Amount Transferred: $2,993,000.00 Transferred From: Various Departments Transferred To: Office of the City Clerk, Department of Fire and Department of Engineering Additional Information: Two-Thirds vote of full membership required.