Fund deficit definition

Fund deficit means the excess of liabilities, reserves, and contributions over its assets, as reflected by its books of account.

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Fund deficit means the excess of liabilities, reserves, and contributions over its

Fund deficit means the excess of liabilities, reserves and contributions over fund assets, as reflected by a municipality's books of account;

Examples of Fund deficit in a sentence

• This provision is not dependent on an Infrastructure Delivery Fund deficit at the end of the 10-year period.

• Residential will remit to Altisource by wire transfer sufficient funds to resolve any Renovation Reserve Fund deficit in monthly forecast expenses on the first business day of each month.

• For each $5 million of General Fund deficit reduction as provided for above, each employee will receive a 1% one-time salary and wage bonus.

• For any Agreement Year in which the POS Out-of-Network Professional Budget exceeds the POS Out-of-Network Professional Expenses, IPA shall be entitled to *** of the POS Out-of-Network Professional Fund surplus, minus any POS Out-of-Network Professional Fund or POS Out-of-Network Institutional Fund deficit carried forward from a previous Agreement Year.

• For any Agreement Year in which the POS Out-of-Network Institutional Budget exceeds the POS Out-of-Network Institutional Expenses, IPA shall be entitled to *** of the POS Out-of-Network Institutional Fund surplus minus any POS Out-of-Network Professional Fund or POS Out-of-Network Institutional Fund deficit carried forward from a previous Agreement year.

• The Three-Month Budget Status Report, Six-Month Budget Status Report, and Nine- Month Budget Status Report show a cumulative Fiscal Year 2010-11 General Fund deficit of greater than $25 million.

• The Fiscal Year 2006 Budget was built upon significant cuts in existing City departments, broad- based expenditure reductions and provisions for a then anticipated carryover of undesignated General Fund deficit from fiscal 2005 estimated at $101.7 million.

• On May 24, 2005, City Council adopted a balanced budget for fiscal 2006 that built upon significant cuts in existing City departments, broad-based expenditure reductions and provisions for an anticipated carryover of undesignated General Fund deficit from fiscal 2005 estimated at $101.7 million, which was required to be funded by an appropriation in the Fiscal Year 2006 Budget.

• If the school district's financial condition is such that the June 30 year end audit establishes a General Operating Fund deficit which may require the district to file a deficit elimination plan with the Michigan Department of Education, then the Board of Education may exercise its responsibility to offset such by setting aside the language agreed to in Sections A, B and C until the beginning of the next school fiscal year in which an actual deficit no longer exists.

• For the fiscal year ended June 30, 2004, the City recorded an unexpected unreserved General Fund deficit of $95 million that it carried, as required, into fiscal 2005.

More Definitions of Fund deficit

Fund deficit means the amount by which the sum of incurred claims and administrative expenses exceeds the final premium for the fund year (for purposes of this definition of fund deficit, the definition of final premium shall include interest earned on all premium payments by all members and other earned and accrued income of the Group which shall accrue to the benefit of the Group).

Fund deficit means the excess of liabilities, reserves, and contributions

Fund deficit means the excess of liabilities, reserves, and contributions over its 3518 assets, as reflected by its books of account. 3519 (17) "General Fund" means the fund used to account for all receipts, disbursements, 3520 assets, liabilities, reserves, fund balances, revenues, and expenditures not required to be 3521 accounted for in other funds. 3522 (18) "Interfund loan" means a loan of cash from one fund to another, subject to future 3523 repayment; but it does not constitute an expenditure or a use of retained earnings, fund balance, 3524 or unappropriated surplus of the lending fund. 3525 (19) "Last completed fiscal period" means the fiscal period next preceding the current 3526 period. 3527 (20) "Modified accrual basis of accounting" means a method under which expenditures 3528 other than accrued interest on general long-term debt are recorded at the time liabilities are 3529 incurred and revenues are recorded when they become measurable and available to finance 3530 expenditures of the current period. 3531 (21) "Municipal capital project" means the acquisition, construction, or improvement 3532 of capital assets that facilitate providing municipal service. 3533 (22) "Municipal service" means a service not provided on a countywide basis and not 3534 accounted for in an enterprise fund, and includes police patrol, fire protection, culinary or 3535 irrigation water retail service, water conservation, local parks, sewers, sewage treatment and 3536 disposal, cemeteries, garbage and refuse collection, street lighting, airports, planning and 3537 zoning, local streets and roads, curb, gutter, and sidewalk maintenance, and ambulance service. 3538 (23) "Retained earnings" means that part of the net earnings retained by an enterprise 3539 or internal service fund which is not segregated or reserved for any specific purpose. 3540 (24) "Special fund" means any fund other than the General Fund, such as those 3541 described in Section 17-36-6. 3542 (25) "Unappropriated surplus" means that part of a fund which is not appropriated for 3543 an ensuing budget period. 3544 (26) "Warrant" means an order in a specific amount drawn upon the treasurer by the 3545 auditor. 3546 Section 87. Section 17-36-39 is amended to read: 3547 17-36-39. Independent audits.