Budget Review and Approval. Unless otherwise agreed to by the Districts, on or before November 1 of each year each Financing District shall either: (a) approve the Preliminary Budget (in which case the Preliminary Budget shall become the “Final Budget” for the applicable fiscal year, or (b) propose in writing to the Coordinating District additions to and/or deletions from the Preliminary Budget. If any Financing District does not provide a proposal for additions to and/or deletions from the Preliminary Budget in writing by November 1, such Financing District shall be deemed to have approved the Preliminary Budget as presented. If any Financing District does timely provide additions to and/or deletions from the Preliminary Budget, the Districts shall discuss and attempt in good faith to reach an agreement with respect to the Preliminary Budget on or before November 15 of each year.
Budget Review and Approval. Unless otherwise agreed to by the Districts, on or before November 1 of each year, each Financing District, in its sole discretion, shall either:
Budget Review and Approval. On or before September 1 of each year, District 5 shall prepare a proposed Project budget, specifying the anticipated Proportionate Share to be paid in the ensuing fiscal year by each of the Districts. On or before September 10 of each year, the Related Districts shall either approve budget documents prepared by District 5 or propose to District 5, in writing, additions to and/or deletions from the proposed budgets. Absent receipt by District 5 of a written proposal for additions and/or deletions by September 15 of such year, the Related Districts shall be deemed to have approved the items included in the proposed budgets. In the event the Related Districts propose additions and/or deletions to the proposed budgets for consideration by District 5 and for inclusion in the budget documents prepared by District 5, and if such additions and/or deletions are not agreed to by District 5 by October 15 of each year, the issue shall be submitted to the Arbitrator who shall accept and/or reject such proposed additions and/or deletions pursuant to the provisions hereof not later than December 1 of each year. Following the Arbitrator's decision, District 5 shall approve its budget for the next ensuing year.
Budget Review and Approval. The Route 10 Costs will be adjusted annually to reflect changes in actual costs, but each annual change will not exceed the percentage of change reflected in the United States Department of Labor Consumer Price Index for all Urban Consumers. Annual changes in the Route 10 Costs will be included in the annual budget of each of the Parties. NAIPTA will submit to Flagstaff and Northern Arizona University for their review and approval, no later than February 1st of each year commencing February 1, 2015, a one-year line-item budget for Route 10 Costs, for the fiscal year commencing on July 1 of such year, and each year thereafter for the Term of this IGA.
