Consolidated Budget Sample Clauses

Consolidated Budget. As soon as the organic laws on the distribution of powers have been adopted, the Comorian Parties agree to adopt a consolidated budget providing for the special account mentioned above and an automatic transfer to the individual accounts of the respective governments of the Union and the Autonomous Islands.
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Consolidated Budget. 2016/17 to 2018/19 The consolidated budget for the 2016/17 financial year is presented below. Total expected income is R537 million, 53% of which is state grant. The high ratio of the state grant revenue is mainly due to R108 million MTEF revenue that will be generated in the financial year. However, this MTEF allocation is project-based and as a result it might not extend to other years. The consolidated budget shows positive net results coming mainly from the commercial activities of the organisation although the international economic outlook is fairly bleak. The table should be read together with the State grant reconciliation table which reconcile the figures as per the Adjusted Estimates of National Expenditure (AENE) document including all MTEF allocations and the spending in the same period.
Sample 1
Consolidated Budget. 2019/20 to 2021/22 The consolidated budget for the 2019/20 financial year is presented below. Total expected income is R577 million with state grant contributing 59% to that. This is mainly due to additional MTEF funding received for the rehabilitation of mine holes. The consolidated budget shows positive net results is dependent on the commercial activities of the organisation. The summarised budget is however projecting a positive financial outlook through-out the MTEF period if the current economic conditions improve. The table should be read together with the State grant reconciliation table which reconcile the figures as per the Adjusted Estimates of National Expenditure (AENE) document including all MTEF allocations and the spending in the same period. Mintek undertakes a rigorous budget process in January of each year, on a strategic business unit level, considering current market conditions and inflation. A realistic budget is then compiled reflecting the business plan for the next financial year. The outer years of the MTEF period (2020/2021 and 2021/2022) is however based on assumptions. The following assumptions were used to compile the project income and expenditure budget for 2020/2021and 2021/2022: - State grant – allocation as confirmed by Department of Mineral Resources used; - Commercial income (contract research and products and services) – average of 1% increase per year with an adjustment of R4 million and R2 million respectively to account for reasonability; - Sundry and investment income - average of 2% increase per year; - Staff costs – increased by 2% and 1% respectively; - Bursaries – increased by 2%; - Operating expenses – increase of 2% per year but adjustment of R11 million and R13 million respectively to account for fluctuations in State grant in those years; and - Depreciation – an increase of 1% per year. The figures predicted in the Statement of Financial Position and Cashflow statements are purely projections based on history and the current financial status of the company.
Sample 1

Related to Consolidated Budget

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year Consolidated Capital Expenditures Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Consolidated Net Worth Borrower will at the end of each fiscal quarter maintain Consolidated Net Worth in an amount of not less than the sum of (i) $625,000,000 plus (ii) fifty percent (50%) of the aggregate Consolidated Net Income, if positive, for the period beginning January 1, 2005 and ending on the last day of such fiscal quarter.

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Consolidated Net Leverage Ratio Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 4.50:1.00.

  • Variances From Operating Budget Furnish Agent, concurrently with the delivery of the financial statements referred to in Section 9.7 and each monthly report, a written report summarizing all material variances from budgets submitted by Borrowers pursuant to Section 9.12 and a discussion and analysis by management with respect to such variances.

  • Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.

  • Capital Budget Any amendment that is mutually agreed upon shall be set forth in writing and signed by both parties. It is acknowledged by Owner that capital expenditures required as a result of an emergency situation shall not reduce amounts available pursuant to the Capital Budget or otherwise hereunder, other than to the extent a Capital Budget item is subsumed within the capital expenditures required as a result of the occurrence of the emergency;

  • Consolidated EBITDA With respect to any period, an amount equal to the EBITDA of Borrower and its Subsidiaries for such period determined on a Consolidated basis.

  • Consolidated Excess Cash Flow If there shall be Consolidated Excess Cash Flow for any Fiscal Year beginning with the Fiscal Year ending December 31, 2018, the Borrowers shall, within ten Business Days of the date on which the Borrowers are required to deliver the financial statements of Holdings and its Restricted Subsidiaries pursuant to Section 5.1(b), prepay the Loans and/or certain other Obligations as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such Consolidated Excess Cash Flow minus (ii) voluntary prepayments of the Loans made during such Fiscal Year (excluding repayments of Revolving Loans or Swing Line Loans except to the extent the Revolving Credit Commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans (as opposed to the face amount thereof)); provided, if, as of the last day of the most recently ended Fiscal Year, the Consolidated Total Net Leverage Ratio (determined for such Fiscal Year by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Consolidated Total Net Leverage Ratio as of the last day of such Fiscal Year) shall be (A) less than or equal to 4.50:1.00 but greater than 4.00:1.00, the Borrowers shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to (1) 25% of such Consolidated Excess Cash Flow minus (2) voluntary repayments of the Loans made during such Fiscal Year (excluding repayments of Revolving Loans or Swing Line Loans except to the extent the Revolving Credit Commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans (as opposed to the face amount thereof)) and (B) less than or equal to 4.00:1.00, the Borrowers shall not be required to make the prepayments and/or reductions otherwise required by this Section 2.14(e).

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