CPU. 10.1 The County Council will produce a financial statement at the end of each financial year to show the income and expenditure of the CPU. 10.2 In the event that the CPU has a surplus of income over expenditure the County Council will after consulting with the Board first retain such sums as it thinks are necessary as a reserve for future liabilities, thereafter the remaining surplus will be returned to each of the Borough/District Councils in their Relevant Proportion ie relating to the actual number of tickets issued in each Council, (calculated for the purposes of this clause only for the preceding year in this instance rather than preceding quarter). In the event of a deficit applying to the CPU account, such a deficit will again be apportioned pro-rata in the Relevant Proportion. 10.3 In the event that a Borough/Council has a query or dispute regarding the CPU the query or dispute shall be raised initially with the CNO. In the event that the query or dispute cannot be resolved by the CNO it shall be referred to the Board.
Appears in 2 contracts
Sources: Agreement Relating to the Civil Enforcement of Parking, Agreement Relating to the Civil Enforcement of Parking