Budget Decisions Clause Samples

Budget Decisions. Following the Meeting of the Members under Article 8.4, the (a) make a final decision on the expenditure of the Funds Available for the new fiscal year; and (b) provide confirmation of their decision by means reasonably likely to reach the

Budget Decisions. (a) Budget decisions may comprise a range of possible individual decisions, e.g.: agreement of an individual budget line item, appointment of a senior and/or junior Secretary, appointment of Chairperson, acceptance of work group/task force budget, work assigned by All NEMO Committee to an individual NEMO, travel expenses of Chairperson and work group/task force leaders. (b) The following Budget decisions shall be subject to ANCA QMV in the event of any failure to achieve unanimity according to Section 4.1(a) above: i. if the year to year difference within the budget in question does not exceed +/-3% compared to the previous year; ii. for any within-year allocation (full or partial) of the available contingency for such year’s budget. iii. for the reallocation of budget items other than the contingency within the budget, provided that: (X) there is no increase or decrease of any single budget item greater than 25% as a result of such reallocation; and (Y) there is no impact on the overall amount of the budget (i.e. the total amount of the budget and the total amount of the contingency remains the same). (c) All other budget-based decisions shall be decided by unanimity of the NEMOs in attendance, subject to any non-attending NEMO’s right to object as described in Section 4.2(a).