Financial exigency definition

Financial exigency means a condition that requires the bona fide discontinuance or reduction in size of an administrative unit, project, program or curriculum due to the lack of funds available and sufficient to meet current or projected expenditures.
Financial exigency means any decline in the College's financial resources brought about by decline in enrollment, cuts in funding, decline in tax revenues, or any other actions or events that create a need for the District to reduce financial expenditures for personnel.
Financial exigency means a reduction in the School District's financial resources resulting from declining enrollment or any other action or event that in the sole judgment of the board of education will result in a reduction in the School District's current or future operating budget.

Examples of Financial exigency in a sentence

Financial exigency shall mean an imminent financial crisis which threatens the survival of the institution as a whole and which cannot be alleviated by less drastic measures than termination of tenured faculty members.

Financial exigency is defined as a significant decline in institutional financial resources that is brought about by decline in institutional enrollment or by other action or events that compel a reduction of the institution's current operating budget.

Financial exigency is a temporary condition and upon declaration the situation must be continually reevaluated.

Financial exigency can undermine academic freedom; it damages morale, and it encourages non-productive competition among units in the hope of protecting their faculty positions – all of which are detrimental to quality education.

Financial exigency is a grave threat to the survival of any university.


More Definitions of Financial exigency

Financial exigency means any event or occurrence that creates a need for the District to reduce financial expenditures for personnel including, but not limited to, a decline in the District’s financial resources, a decline in enrollment, a cut in funding, a decline in tax revenues, or an unanticipated expense or capital need.
Financial exigency means any event or occurrence that creates a need for the School to reduce financial expenditures for personnel including, but not limited to, a decline in the School’s financial resources, a decline in enrollment, a cut in funding, expiration or reduction of a grant, or an unanticipated expense or capital need. "Program change" shall mean any elimination, curtailment, or reorganization of a curriculum offering, program, or school operation. The term shall include, but not be limited to, a change in curriculum objectives, a modification or reorganization of staffing patterns, a redirection of financial resources to meet the educational needs of the students, a lack of student response to particular course offerings, or legislative revisions to programs.
Financial exigency means a severe financial circumstance, such that the University must discontinue or reduce programs, or which may result in layoffs of faculty. “Financial Exigency” as used in this Agreement is to be interpreted according to this definition, and no other.
Financial exigency means any significant decline in the district’s financial resources that is brought about by the decline or anticipated decline in enrollment or by other actions or events that compel a reduction in the schools’ current operations budget.
Financial exigency means a financial condition which threatens the financial viability of the University, after efforts to alleviate such a financial condition by economies in the budget have been undertaken and after reasonable means of improving the University’s revenues have been pursued.
Financial exigency means any significant decline in the Board of Education’s financial resources that is brought about by decline in enrollment or by other action or events that compel a reduction of the
Financial exigency means any significant reduction in the college's financial resources caused by decline in enrollment or by other action or events that compel a reduction in the College's operating budget.