Budget Surplus or Deficit Sample Clauses

Budget Surplus or Deficit. In the context of a net budget of close to £1.82 million it will be impossible to achieve an end of year result that is exactly on budget, though the objective will be to be within budget. It is therefore agreed that:
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Budget Surplus or Deficit. The Executive Director shall disclose to the Board of Directors whether there is projected to be a budget surplus or deficit at the end of each fiscal year. The Board of Directors shall determine how to address any budget surplus or deficit.
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Budget Surplus or Deficit. 4.5.1 In the context of a net budget of close to £2 million it will be impossible to achieve an end of year result that is exactly on budget, though the objective will be to be within budget. It is therefore agreed that if any variance exceeds £ ,000 Partner Authorities will have to agree a course of action such that Colchester as the lead authority is not disadvantaged or benefited and shall agree that the surplus or deficit is to be eliminated by making an adjustment to the annual contribution
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Related to Budget Surplus or Deficit

  • In the Event of Forecasted Surpluses If the HSP is forecasting a surplus, the LHIN may adjust the amount of Funding to be paid under Schedule B, require the repayment of excess Funding and/or adjust the amount of any future funding installments accordingly.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • STAFF SURPLUS When as a result of the substantial restructuring of the whole, or any parts, of the employer's operations; either due to the reorganisation, review of work method, change in plant (or like cause), the employer requires a reduction in the number of employees, or, employees can no longer be employed in their current position, at their current grade or work location (i.e. the terms of appointment to their present position), then the options in sub clause 25.3 below shall be invoked and decided on a case by case basis by the employer having due regard to the circumstances of the affected employee.

  • Performance Deficiency The Department or Customer may, in its sole discretion, notify the Contractor of the deficiency to be corrected, which correction must be made within a time-frame specified by the Department or Customer. The Contractor must provide the Department or Customer with a corrective action plan describing how the Contractor will address all issues of contract non-performance, unacceptable performance, and failure to meet the minimum performance levels, deliverable deficiencies, or contract non-compliance.

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