Common use of Budget Setting Clause in Contracts

Budget Setting. a) Budgets will run for a full financial year from 1st April to 31st March and will be reviewed and agreed annually by both Partners, and will be formally approved the authority and CCG 30 days prior to the start of each financial year. b) The agreed budgets will be formally approved by both Partners in accordance with the reporting arrangements outlined in this agreement preferably before the start of the financial year, but within 3 months of the start of the financial year. c) Budgets agreed retrospectively will be deemed to be in effect from 1st April of the financial year unless an alternative commencement date is jointly agreed by both Partners and ratified by the S75 Board. d) In the event that internal cost reductions or efficiency schemes of either Partner will give rise to a reduction in contributions to under this Agreement this should be notified in writing to the S75 Board and other partner no later than three months before the commencement of the financial year in which the reduction will take effect. This is to enable effective alternative financial arrangements to be put in place. e) In the event that budgets are not jointly agreed prior to the start of the year financial year a provisional budget will be agreed and finalised within 3 months of the start of the financial year. f) In the event that financial agreement cannot be reached on funding for a particular service within the period specified that service will cease to be part of the S75 arrangements, at the end of the 3 month provisional budget period. g) The joint budget setting discussions will consider and agree on the impact of the section 75 budgets of: i) Inflation assumptions ii) Demographic or other population assumptions iii) Efficiency or cost savings requirements from either party

Budget Setting. a) Budgets will run for a full financial year from 1st April to 31st March and will be reviewed and agreed annually by both Partnersparties, and will be formally approved the authority and CCG 30 days prior to the start of each financial year. b) . The agreed budgets will be formally approved by both Partners parties in accordance with the reporting arrangements outlined in this agreement preferably before the start of the financial year, but within 3 months of the start of the financial year. c) Budgets . ▇▇▇▇▇▇▇ agreed retrospectively will be deemed to be in effect from 1st April of the financial year unless an alternative commencement date is jointly agreed by both Partners parties and ratified by the S75 Board. d) board. In the event that internal cost reductions or efficiency schemes of either Partner party will give rise to a reduction in contributions to under this Agreement the S75 agreement this should be notified in writing to the S75 Board board and other partner no later than three months before the commencement of the financial year in which the reduction will take effect. This is to enable effective alternative financial arrangements to be put in place. e) . In the event that budgets are not jointly agreed prior to the start of the year financial year a provisional budget will be agreed and finalised within 3 months of the start of the financial year. f) . In the event that financial agreement cannot be reached on funding for a particular service within the period specified that service will cease to be part of the S75 s75 arrangements, at the end of the 3 month provisional budget period. g) . The joint budget setting discussions will consider and agree on the impact of the section 75 budgets of: i) Inflation assumptions ii) Demographic or other population assumptions iii) Efficiency or cost savings requirements from either party