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Resolution of the Mayor and Council of Princeton Approving Transfers in Accordance with N.J.S.A. 40A:4-59
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WHEREAS, N.J.S.A. 40A:4-59 provides that all unexpended balances carried forward after the close of the year are available, until lapsed at the succeeding year, to meet specific claims, commitments or contracts incurred during the preceding fiscal year, and allow transfers to be made from unexpended balances which are expected to be insufficient during the first three months of the succeeding year;
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of Princeton, County of Mercer, State of New Jersey that in accordance with the provisions of N.J.S.A. 40A:4-59, that transfers be made between the 2025 Budget Appropriation Reserves as follows:
From To
Salary & Wage Adjustment Police - Salary & Wages $240,000
Administration - Other Expenses Legal - Other Expenses $125,000
Group Insurance Legal - Other Expenses $ 60,000
BE IT FURTHER RESOLVED that a certified copy of this resolution be forwarded by the Municipal Clerk to the Chief Financial Officer.