If, during the first 3 months of any fiscal year the amount of any appropriation reserve for the immediately preceding fiscal year is insufficient to pay the claims authorized or incurred during said preceding year which were chargeable to said appropriation, and there shall be an excess in any appropriation reserves over and above the amount deemed to be necessary to fulfill its purpose, the governing body may, by resolution adopted by not less than a 2/3 vote of the full membership thereof, transfer the amount of such excess to an appropriation reserve or an appropriation in the prior budget deemed to be insufficient to fulfill its purpose or for which no reserve was provided. No transfers may be made to appropriation reserve for contingent expenses or deferred charges.

No transfers may be made under this section from appropriation reserves for

Contingent expenses

Down payment

Capital improvement fund

The following annexed appropriation reserve transfer schedule #3 for the 1999 Municipal Operating Budget of the Township of Jackson is hereby made for the above stated reasons:

This resolution shall take effect upon affirmative Committee vote of the Township of Jackson.

Copies of this resolution to the Administrator, Chief Financial Officer and Auditor.