Common use of Settlement Budget Clause in Contracts

Settlement Budget. 30 ORA and Cal Water agree to an average annual conservation budget of 31 $6,999,757 for Test Year 2014, Escalation Year 2015, and Escalation Year 2016 for a 32 total 3-year budget that shall not exceed $20,999,271. These budgets are excluded 33 from escalation and instead use the average annual budget in calculating the allowed 1 revenue requirement for Test Year 2014, Escalation Year 2015, and Escalation Year

Settlement Budget. 30 ORA and 2 Cal Water and ORA agree to an average annual conservation budget of 31 3 $6,999,757 7,307,766 for Test Year 20142017, Escalation Year 20152018, and Escalation Year 2016 2019 for a 32 total 34 three-year budget that shall not exceed $20,999,27121,923,298. These budgets are excluded 33 from 5 escalation and instead use the average annual budget in calculating the allowed 1 revenue 6 requirement for Test Year 20142017, Escalation Year 20152018, and Escalation YearYear 2019.