FINANCIAL UPDATE Sample Clauses

FINANCIAL UPDATE. A financial update to be provided by the Borrower to KPMG no later than 15 September 2021 consisting of (i) the Borrower’s Interim Accounts (S1) (including the Borrower’s semi-annual balance sheet), (ii) an impact analysis of published and final “methode besluit” on financial projections, (iii) a trading update of Capex and (iv) an overview of other events or developments which may have a significant impact on the net debt position or financial forecast of the Borrower.

FINANCIAL UPDATE. The agreement is expected to have no significant impact on IPH’s cash runway in the near future as the product development expenditures until the end of the Phase I trials and the upfront payment to NN are expected to be financed through the early refund (by the French innovation agency Oséo) of the company’s research tax credit receivables (which amounted to 8.9 million euros as at the end of June 2008). The Company estimates that its current balance sheet will be sufficient to finance its pipeline for the next two years.

FINANCIAL UPDATE. ▇▇▇▇▇ ▇▇▇▇▇▇, Principal Administrative Analyst for DPW, provided a follow-up on the Financial Report presented at the July 19, 2023 meeting as requested by the GFDC. The report covered the following items: • FY 2022-23 Budget and Actual Expenditures • FY 2022-23 Budget and Actual Revenue • FY 2022-23 Lease Revenue by Category • FY 2017-18 through FY 2025-26 Airports Lease Revenue Totals • AEF Balance After the presentation, there was discussion regarding Fuel Flowage Fees. ▇▇. ▇▇▇▇▇▇ stated that there was going to be a review of Rates and Charges soon. Council requested that the topic of Fuel Flowage Fees be put on the agenda for the following meeting. Council requested that a follow-up on the depreciation balance be provided at the next meeting.

FINANCIAL UPDATE. ▇▇. ▇▇▇▇▇▇ introduced ▇▇▇▇▇ ▇▇▇▇▇▇ as the new Program Coordinator for County Airports covering the Contracts and Grants section of County Airports. ▇▇. ▇▇▇▇▇▇ gave a brief update to answer questions regarding depreciation on the fund balance from the last meeting. Council had new questions regarding a difference in the lease revenue amount that was previously presented, as well as clarification about the use of the term “depreciation.” ▇▇. ▇▇▇▇▇▇ requested that Council submit a list of questions and that further information would be provided at the next meeting. Councilmember ▇▇▇▇▇ ▇▇▇▇▇▇▇ to take the lead in providing the list of questions for clarification.

FINANCIAL UPDATE. ▇▇. ▇▇▇▇▇ informed the council that DPW Financial Services requested to postpone the Financial Update until the November meeting. At that time, the CAFR should be complete, which will include official end of year numbers to ensure the most accurate reporting. The requested items will remain on the agenda and be provided at the next meeting: • Budget vs Annual • Breakdown of Revenue from Industrial Leases and Aviation Leases • Corrected numbers for FY 25-26 Lease Revenues

FINANCIAL UPDATE. DPW Finance Chief ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ presented the FY 2022-23 Financial Update. The presentation covered Total Operations and Maintenance, Airports Expenditures, and Airports Revenue of all eight County Airports. ▇▇. ▇▇▇▇▇▇ noted that since financial transactions are still accruing for FY 22-23, the numbers showing were not to be considered final numbers. In the Fall, the County and an independent auditor will conduct an audit and post the final numbers on the website for public viewing as the Annual Comprehensive Financial Report. Concluding the Financial Update, ▇▇▇▇▇ ▇▇▇▇▇▇ presented FY 2023 though FY 2027-28 Airports Capital Projects. Council requested the following items be presented at the next meeting: • Budget vs Annual • Breakdown of Revenue from Industrial Leases and Aviation Leases • Corrected numbers for FY 25-26 Lease Revenues