Financial exigency definition
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.
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 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 school’s current or future operating budget.
Examples of Financial exigency in a sentence
If the Financial Exigency Committee finds that a state of financial exigency exists, it shall recommend the amount of reduction in expenditure required for OC’s continued viability.
More Definitions of Financial exigency
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 is a demonstrated, bona fide financial crisis which, by its gravity and the likelihood of its long-term continuation, threatens the fulfillment of the University’s educational mandate, and which can be alleviated only by the layoff of faculty and/or academic staff.
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 any imminent and extraordinary decline in the University’s financial resources that compels a reduction in the current operating budget to the extent that the University would be unable to meet existing financial obligations that include, but are not limited to, contractual obligations.
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 decline in the Board’s finan- cial 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 College District to reduce fi- nancial expenditures for personnel.
Financial exigency is defined as a condition of projected deficit in the University’s operating budget of such magnitude that reduction in faculty is necessary.