Fiscal Year Overlap Clause Samples
The Fiscal Year Overlap clause defines how financial obligations, reporting, or performance periods are managed when a contract or agreement spans across two or more fiscal years. In practice, this clause may specify how budgets are allocated, how payments are scheduled, or how deliverables are tracked when the contract period does not align neatly with the fiscal calendar of one or both parties. Its core function is to ensure clarity and prevent confusion or disputes regarding financial responsibilities and timelines that might otherwise arise due to differences in fiscal year timing.
Fiscal Year Overlap. When an industrial accident or illness leave overlaps into the next fiscal year, the member shall be entitled to only the amount of unused leave due him/her for the same illness or injury.
Fiscal Year Overlap. When an industrial accident or illness occurs at a time when the full sixty (60) days will overlap into the next fiscal year, the unit member shall be entitled to only that amount remaining at the end of the fiscal year in which the industrial injury or illness occurred, for the same illness or injury.
Fiscal Year Overlap. An employee who has earned vacation leave shall be allowed to take said vacation at the end of December and the beginning or January (running the vacation leave of the two (2) fiscal years together) if such an arrangement meets with the approval of the Chief of Police.