Funding Formula Sample Clauses
A Funding Formula clause defines the method by which financial contributions or payments are calculated between parties in an agreement. Typically, it outlines the variables, such as project costs, percentages, or milestones, that determine how much each party is required to pay or receive. For example, it may specify that funding is distributed based on the proportion of work completed or according to a fixed schedule. The core function of this clause is to ensure transparency and predictability in financial arrangements, reducing disputes by clearly setting out how funds are allocated or reimbursed.
Funding Formula. To the extent that it is demonstrated that the Cooperative’s library system benefits and is used by residents of the unincorporated area of Polk County, the County shall provide dedicated funding from Library MSTU dollars to the Cooperative as provided for in Section 21.
Funding Formula. The County has provided a dedicated funding source (Library MSTU) which assists in its commitment to more equitable funding in order to reach $23.60 operational funding per capita as recommended by previous professional consultants hired by the County.
Funding Formula. The Policy Committee shall annually on or before July 1 of each year, by a unanimous vote, approve the funding formula to determine the parties’ share of expenses for Consortium operations, provided, however, that the most recently approved cost-sharing formula shall continue unless amended by the unanimous vote of the parties.
Funding Formula. Funding to support funded early education places for eligible two year olds is paid at a single standard rate. For 2020-21 this will be £5.12 per child, per hour they attend.
Funding Formula. Funding will be allocated based on the agreed formula consulted with schools and schools forum. Funding amounts will be determined at school level based on the agreed formula. Total funding is divided between Primary (25%) and Secondary (75%). The Funding Allocation for each school is then determined by 75% weight for Free School Meals (Ever6) and 25% weight for pupil population. Funding will be reduced for individual schools based on the number of pupils permanently excluded prior to the commencement of this agreement where the Authority has the responsibility to provide education. This will be linked directly to pupils and the cost will be aligned to the cost of placement at the appropriate learning centre as consulted on and agreed through Schools Forum, until the pupils is reintegrated or no longer the responsibility of the Authority to educate. However, each school will receive at least 43% of their total Funding Allocation.
Funding Formula. Each year, the BOC agrees to fund OCS for the fiscal year in the total amount defined below in equal monthly installments that begin on July 15th each year:
Funding Formula. Clause 9.2 of the Regional Library Agreement requires the Library Board to agree on a funding formula to determine the financial contributions to be made by the member councils. The agreed funding formula must ensure each member council contributes the same per capita amount.
Funding Formula. Clause 9.1 of the Regional Library Agreement requires the Library Board to agree on a funding formula to determine the financial contributions to be made by the member councils.
5.1 The revenues and expenditures for each NCGRL static library point, the net recurrent expenditure shared between the member councils by apportioning each item in accordance with the criterion deemed to be the most equitable. In making such apportionments, the following conditions will apply:
(a) Revenues and expenditures incurred specifically in relation to non-base services will be identified and allocated to the corresponding non-base services.
(b) No member council will incur increased costs as a result of other councils significantly reducing the level of branch services primarily to reduce operating and overhead costs.
5.2 The revenues and expenditures associated with the mobile library service will be shared between the member councils by apportioning each item in accordance with the criterion deemed to be the most equitable.
5.3 The revenues and expenditures associated with the NCGRL’s headquarters unit will be shared between the member councils by apportioning each item in accordance with the criterion deemed to be the most equitable. In making such apportionments, the following conditions will apply:
(a) Revenues and expenditures incurred specifically in relation to non-base services will be identified and allocated to the corresponding non-base services.
(b) No member council will incur increased costs as a result of other councils significantly reducing the level of branch services primarily to reduce operating and overhead costs.
5.4 Capital expenditures (including amounts transferred to reserves) will be apportioned between the member councils in a manner that equitably reflects the intended use of the assets acquired. This will include additions to the library collections, which will be apportioned in accordance with the allocation criteria specified in the NCGRL’s Collection Development Policy.
5.5 The base for the apportionment of revenues and expenditure across the member councils will be the NCGRL’s Annual Budget, against which the principles outlined in sections
5.1 to 5.4 will be applied to calculate the financial contribution to be made by each member council.
5.6 The financial contributions will be recalculated by April of each year against the projected full-year actuals at that time. Any variance between the agreed and recalculated council contributions w...
Funding Formula. Clause 9.2 of the Regional Library Agreement requires the Library Board to agree on a funding formula to determine the financial contributions to be made by the member councils.
5.1 For each static service point, the net recurrent expenditure will be wholly borne by the member council for the municipal district in which the service point is located. (Recurrent expenditure is the difference between revenues earned from branch operations and operating costs, excluding depreciation and capital expenditures.)
5.2 The revenues and expenditures associated with the mobile library service will be shared between the member councils by apportioning each item in accordance with the criterion deemed to be the most equitable.
5.3 The revenues and expenditures associated with the WRLC’s headquarters unit will be shared between the member councils by apportioning each item in accordance with the criterion deemed to be the most equitable. In making such apportionments, the following conditions will apply:
(a) Revenues and expenditures incurred specifically in relation to non- base services will be identified and allocated to the corresponding non-base services.
(b) No member council will incur increased costs as a result of other councils significantly reducing the level of branch services primarily to reduce operating and overhead costs.
Funding Formula. The initial Funding Formula for Participant Agencies, attached hereto and incorporated herein as Exhibit A, may be amended on a yearly basis, to assure fair and equitable funding of the System. Any such proposed amendment to the Funding Formula shall be sent to all Participating Agencies at least 30 days prior to the Board of Directors meeting at which the proposal is to be considered and Participant Agencies given an opportunity to submit comments or be heard. If the Funding Formula is not ratified, the current Funding Formula shall remain in effect. The parties recognize the need to establish and provide for funding for TC3 in a fair and equitable manner during the process of consolidation. The parties agree to engage in good faith negotiations as may be necessary to reach agreement as to the manner of funding TC3 during the consolidation process.