Common use of Expenditures to Retire Unfunded Pension Liabilities Clause in Contracts

Expenditures to Retire Unfunded Pension Liabilities. The CMHSP may include expenditures to retire unfunded pension and other postemployment liabilities on the Financial Status Report if the liability is supported by an actuarial report, and the retirement of the unfunded pension and other postemployment liabilities complies with generally accepted accounting principles (GAAP). The CMHSP shall not, however, include expenditures to retire unfunded pension and other postemployment liabilities on the Financial Status Report if such expenditures would cause the CMHSP to exceed the contractual budget authorization from MDHHS.

Expenditures to Retire Unfunded Pension Liabilities. The CMHSP may include expenditures to retire unfunded pension and other postemployment post employment liabilities on the Financial Status Report if the liability is supported by an actuarial report, and the retirement of the unfunded pension and other postemployment post employment liabilities complies with generally accepted accounting principles (GAAP). The CMHSP shall not, however, include expenditures to retire unfunded pension and other postemployment post employment liabilities on the Financial Status Report if such expenditures would cause the CMHSP to exceed the contractual budget authorization from MDHHSMDCH.

Expenditures to Retire Unfunded Pension Liabilities. ‌ The CMHSP may include expenditures to retire unfunded pension and other postemployment liabilities on the Financial Status Report if the liability is supported by an actuarial report, and the retirement of the unfunded pension and other postemployment liabilities liability complies with generally accepted accounting principles (GAAP). The CMHSP shall not, however, include expenditures to retire unfunded pension and other postemployment liabilities on the Financial Status Report if such expenditures would cause the CMHSP to exceed the contractual budget authorization from MDHHSMDCH.