INSERT AS APPLICABLE. of the District Contract is deleted and the following substituted: The LEA and FSMC shall work together to ensure a financially sound operation. The FSMC guarantees that the LEA shall receive a surplus of $1,200,000. If the surplus for the Food Service Program falls short of the aforementioned amount, the FSMC shall pay the difference to the LEA, with the amount of any such payment not to exceed the total of the FSMC’s Management Services Fee and General Support Services Fee. Any Guaranteed Return received by the LEA must remain in the nonprofit food service account.
Appears in 2 contracts
Sources: Food Service Management Company Agreement, Food Service Management Company Agreement