Collection Fund definition

Collection Fund means the Collection Fund created and established by Section 4.01 hereof.

Collection Fund means the Fund by that name created in Section 5.01(c) hereof and further described in Section 5.04 hereof.

Collection Fund means the Fund established by Section 5.5 hereof.

Examples of Collection Fund in a sentence

• This is a timing difference as any difference will be brought forward in future Surpluses or Deficits on the Collection Fund.

• Therefore, the difference between the income included in the Comprehensive Income and Expenditure Statement and the amount required by regulation to be credited to the General Fund is taken to the Collection Fund Adjustment Account and included as a reconciling item in the Movement in Reserves Statement.

• Under the legislative framework for the Collection Fund, billing authorities, major preceptors and central government share proportionately the risks and rewards that the amount of council tax and NDR collected could be less or more than predicted.

• Billing authorities are required by statute to maintain a separate fund (i.e. the Collection Fund) for the collection and distribution of amounts due in respect of council tax and NDR.

• The Collection Fund Adjustment Account manages the differences arising from the recognition of council tax income in the Comprehensive Income and Expenditure Statement as it falls due from council tax payers compared with the statutory arrangements for paying across amounts to the General Fund from the Collection Fund.

More Definitions of Collection Fund

Collection Fund means the Fund by that name created in Section 5.01(d) hereof and further described in Section 5.05 hereof, including any Accounts and Subaccounts created therein.

Collection Fund means the fund required to be established and maintained by a billing authority in accordance with section 89(1) of the Local Government Finance Act 1988(91).

Collection Fund means the Collection Fund created and established pursuant to the Indenture and further described under the caption “Description of the Indenture–Funds and Accounts–Collection Fund.”

Collection Fund means the Collection Fund created and established by the indenture. “Collection Period” means, with respect to the first quarterly distribution date, the period

Collection Fund as defined in Section 10.1.

Collection Fund means the Collection Fund created and established by Section 4.1 hereof.

Collection Fund means the collection fund created and established pursuant to the indenture and further described under “Description of the Indenture — Funds and Accounts — Collection Fund.”