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Committee forwards $753,362.37 payroll/pension transfer to correct salary accounts
Summary
After recent negotiations, the finance committee approved sending to council a $753,362.37 transfer to properly allocate payroll into salary and pension accounts for city employees, a speaker said the move corrects prior accounting.
The Finance Committee unanimously approved forwarding a $753,362.37 transfer to the full Newark City Council to place funds into the correct salary and pension accounts. A speaker said the transfer reflects the outcome of recent negotiations and is intended to correct payroll accounting so employees are paid from the appropriate accounts.
"This is just transferring money into the correct salary pension accounts, so employees sitting north property pay," the speaker said, explaining the funds are needed to align pay and pension accounting. The committee recorded the motion as "Motion by Barker, second by Chute" and approved the referral 5–0 to full council.
