Asbury Park
NJ

Resolution
2020-86

Temp. Budget Amend. 1

Information

Department:FinanceSponsors:
Category:Budget

Attachments

  1. Printout

Body

WHEREAS, N.J.S.A 40A:4-20 provides that the Governing Body by a 2/3 vote of the full membership thereof may make emergency temporary appropriations for any purpose for which appropriation may lawfully be made for the period between the beginning of the current fiscal year and the final adoption of the budget for the said year; and

 

              WHEREAS, the previously adopted temporary budget did not provide sufficient funds for the operational costs prior to the final adoption of the 2020 budget.

 

              NOW, THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Asbury Park that the following Emergency Temporary Appropriation for the year 2020 be adopted and a certified copy of this resolution be provided to the Borough’s Chief Financial Officer and the Director of Division of Local Government Services, Department of Community Affairs, State of New Jersey.

 

             

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Current Fund:

Liability Insurance                                                          $328,125.00            $678,125.00

Employee Group Insurance                                           1,680,000.00           2,680,000.00

Public Employees Retirement System                               207,747.00              888,564.98

Police & Fire Retirement System                                   1,018,325.00           3,921,739.43

Municipal Clerk Other Expenses                                              6,138.00                20,000.00