Fiscal exigency definition

Fiscal exigency means any significant decline in the Board of Education’s ability to fund the operations of the district as a result of a decline in student enrollment, restrictions on revenues, increased costs or any other action, event or condition that may cause the district’s current or projected budget to be insufficient to adequately meet the district’s current or projected needs. A fiscal exigency may exist based solely upon current revenue and expenditure projections.
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Fiscal exigency is any decline in the Board's ability to fund the operation of the District that necessitates, in the Board's judgment, a reduction in the District's current general fund budget.
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Fiscal exigency means any significant decline in the Board of Education's ability to fund the operation of the district.
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Examples of Fiscal exigency in a sentence

  • For FMLA, see policy 90-317 located at my.atsu.edu (see Human Resources Policies). Faculty member is unable to perform essential functions of his/her position with or without reasonable accommodations. Unethical behavior and/or misconduct as determined by a hearing spelled out in the University or respective college/school faculty handbook; Fiscal exigency.

  • Fiscal exigency of a university or academic unit occurs when a significant gap between expected revenue and expenses can be projected for an extended fiscal period which would lead to a deleterious impact on the operations of a university or academic unit.

  • Fiscal exigency will allow the District flexibility in meeting the needs of our students and staff.

  • The Town Board hereby declares its intent to act as Lead Agency, pursuant to SEQRA, for the purpose of conducting the environmental review of the Action.

  • Fiscal exigency has been widely debated in both legal and academic settings, and because of the serious legal complications that can arise, prior financial planning should have occurred since fiscal exigency does not happen overnight.

  • Fiscal exigency is a legal status and may be declared only by the Board of Trustees.

  • Fiscal exigency occurs when a significant gap between expected revenue and expenses can be projected for an extended fiscal period which would lead to a deleterious impact on the operations of the organization or an academic unit.

  • This determination will be as the result of one or more of the following:  Fiscal exigency  Program and/or enrollment declines The President of the College will seek the advice and counsel of the PECCC as to alternatives to such reductions, if any.

  • Fiscal exigency is declared by the College’s Board of Trustees in accordance with Policy 4.11.

  • Fiscal exigency is a serious condition when the operating funds of the College are inadequate to successfully maintain the established level of programs and services.


More Definitions of Fiscal exigency

Fiscal exigency means any significant decline in the Board of Education's ability to fund the operations of the District as a result of a decline in student enrollment, restrictions on revenues, increased costs or any other action, event or condition that may cause the District's current or projected budget to be insufficient to adequately meet the District's current or projected needs. A fiscal exigency may exist based solely upon current revenue and expenditure projections.
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Fiscal exigency means any significant decline in the Board of
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Fiscal exigency means any significant decline in the Board of Education’s ability to fund the operation of the district such as a result of a decline in student enrollment, restrictions on revenues, increased costs or any other action, event or condition that may cause the district’s current or projected budget to be insufficient to adequately meet the district’s current or projected needs.
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Fiscal exigency means any material decline in the ability of the Board to fund the operation of the School. A fiscal exigency may exist based solely upon current revenue and expenditure projections.
Sample 1
Fiscal exigency means any significant decline in the Board of Education's ability to fund the operation of the district as a result of a decline in student enrolment, restriction on revenues, increased costs or any other action, event or condition that may cause the district’s current or projected needs. A fiscal exigency may exist based solely upon current revenue and expenditure projections.
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Related to Fiscal exigency

  • 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.

  • State Fiscal Year means the period beginning September 1 and ending August 31 each year, which is the annual accounting period for the State of Texas.

  • School fiscal year means a fiscal year that commences July 1 and continues through June 30.

  • Maintenance Capital Expenditure means cash expenditures (including expenditures for the construction of new capital assets or the replacement, improvement or expansion of existing capital assets) by a Group Member made to maintain, over the long term, the operating capacity or operating income of the Partnership Group. For purposes of this definition, “long term” generally refers to a period of not less than twelve months.

  • Fiscal Year means the fiscal year of the Company.

  • Consolidated Maintenance Capital Expenditures means, for any period, the aggregate amount of expenditures for additions to property, plant, and equipment that are not Consolidated Expansion Capital Expenditures.

  • financial expert means an individual, company or firm who is authorised to give investment advice under the Financial Services and Markets Act 2000;

  • Financial exploitation means a breach of a fiduciary duty by an actor’s unauthorized expenditure of funds entrusted to the actor for the benefit of the vulnerable adult or by an actor’s failure to provide food, clothing, shelter, health care, therapeutic conduct or supervision, the failure of which results or is likely to result in detriment to the vulnerable adult. Financial exploitation also includes: the willful use, withholding or disposal of funds or property of a vulnerable adult; the obtaining of services for wrongful profit or advantage which results in detriment to the vulnerable adult; the acquisition of a vulnerable adult’s funds or property through undue influence, harassment, duress, deception or fraud; and the use of force, coercion, or enticement to cause a vulnerable adult to perform services against the vulnerable adult’s will for the profit or advantage of another.

  • Investment Capital Expenditures means capital expenditures other than Maintenance Capital Expenditures and Expansion Capital Expenditures.

  • Trust Fiscal Year means the period commencing on March 1 of any year and ending on February 28 (or February 29, if applicable) of the following year.

  • Current Fiscal Year means the fiscal year for which a particular calculation is made.

  • Fiscal Year End means December 31 of each calendar year.

  • Maintenance Capital Expenditures means cash expenditures (including expenditures for the addition or improvement to the capital assets owned by any Group Member or for the acquisition of existing, or the construction of new, capital assets) if such expenditures are made to maintain, including over the long term, the operating capacity or revenues of the Partnership Group.

  • Net Investment means (i) as it relates to the Stockholders, the total amount of Gross Proceeds raised in all Offerings; and (ii) as it relates to the Limited Partners (other than the General Partner in its capacity as a Limited Partner) the total amount of Capital Contributions.

  • Independent Financial Expert means a nationally recognized accounting, investment banking or consultant firm, which firm does not have a material financial interest or other material economic relationship with either the Company or any of its Affiliates or the Holder or any of its Affiliates that is, in the good faith judgment of the Board, qualified to perform the task for which it has been engaged.

  • Net Investment Loss With respect to the Certificate Account, the Servicing Accounts or the REO Account or Companion Distribution Account for any period from any Distribution Date to the immediately succeeding P&I Advance Date, the amount by which the aggregate of all losses, if any, incurred during such period in connection with the investment of funds relating to the Trust Fund held in such account in accordance with Section 3.06, exceeds the aggregate of all interest and other income realized during such period on such funds.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Consolidated Net Income (Loss) of any Person means, for any period, the consolidated net income (or loss) of such Person and its consolidated Subsidiaries for such period as determined in accordance with GAAP, adjusted, to the extent included in calculating such net income (loss), by excluding, without duplication, (i) the portion of net income (or loss) of any other Person (other than any of such Person's consolidated Subsidiaries) in which such Person or any of its Subsidiaries has an ownership interest, except to the extent of the amount of dividends or other distributions actually paid to such Person or its consolidated Subsidiaries in cash by such other Person during such period, (ii) net income (or loss) of any Person combined with such Person or any of its Subsidiaries on a "pooling of interests" basis attributable to any period prior to the date of combination, (iii) any gain or loss, net of taxes, realized upon the termination of any employee pension benefit plan and (iv) solely for the purpose of determining Consolidated Net Income (Loss) in connection with the calculation of Restricted Payments permitted to be made hereunder, the net income of any consolidated Subsidiary of such Person to the extent that the declaration or payment of dividends or similar distributions by that Subsidiary of that income is not at the time permitted, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulations applicable to that Subsidiary or its shareholders; provided that, upon the termination or expiration of such dividend or distribution restrictions, the portion of net income (or loss) of such consolidated Subsidiary allocable to such Person and previously excluded shall be added to the Consolidated Net Income (Loss) of such Person to the extent of the amount of dividends or other distributions available to be paid to such Person in cash by such Subsidiary.

  • Fiscal Month means any of the monthly accounting periods of Borrower.

  • Independent Evaluator A person empowered, pursuant to Section 23.5 (Failure to Reach Agreement) and Section 23.10 (Dispute) of this Agreement, to resolve disputes due to failure of the Parties to agree on a Performance Standards Revision Document.

  • Current state fiscal year means the state fiscal year for which a particular calculation is made.

  • Consolidated Net Loss for any fiscal period, means the amount which, in conformity with GAAP, would be set forth opposite the caption "net income" (or any like caption), as the case may be, on a consolidated statement of earnings of the Borrower and its Subsidiaries, if any, for such fiscal period.

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Financial reporting year means the latest consecutive twelve-month period for which any of the following reports used to support a financial test is prepared:

  • Audit Committee Financial Expert means a person who has the following attributes:

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel: