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

  • It is clear that the status quo is not an option; it can no longer be business as usual, but stronger and broader political partnerships, and financial sustainability are required.

  • This is additional Section 31 Grant Funding paid to the Council’s General Fund in 2020/21 and having been transferred to reserves will be released to reimburse the corresponding element of the Collection Fund deficit in 2021/22.

  • These grants will need to be carried forward in an earmarked reserve, as they are required to fund the 2020/21 Collection Fund deficit which will impact on the revenue position in 2021/22.

  • The City plans to continue to charge City agencies premiums in excess of that needed to cover expected operating expenses, including claims paid and incurred, and thereby eliminate the accumulated Risk Management Fund deficit over the next ten years.

  • As a result, in practice, variances between business rates estimates and actual figures are reflected as an element of the Collection Fund deficit or surplus two years after they take place.

  • In effect, this amount will be that part of the budget requirement not financed by RSG and redistributed NDR, plus the Council's share of the Collection Fund deficit.

  • For each year, the amount of business rates income credited to the General Fund is the amount estimated on the National Non Domestic Rate (NNDR1) return to Government submitted in January in the preceding year, including a calculation of the estimated Collection Fund deficit or surplus to be charged to the General Fund.

  • The Spending Review announced a support package from the Government against the Collection Fund deficit, with the confirmation that 75% of the deficit will be covered by the Government.

  • Failure to monitor identified risks and to implement appropriate strategies to counteract those risks could lead to an increased Fund deficit resulting in employers having to pay more.

  • Failure to monitor investment performance in line with appropriate strategies could lead to an increased Fund deficit resulting in employers having to pay more.


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 unearned income of the Group which shall accrue to the benefit of the Group).
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Fund deficit means the excess of liabilities, reserves, and contributions
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Fund deficit means the excess of liabilities, reserves, and contributions over itsassets, as reflected by its books of account.
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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.
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Related to Fund deficit

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2006-1 Liquidity Amount on such date and (b) the Series 2006-1 Required Liquidity Amount on such date.

  • Nominal Liquidation Amount Deficit means, for any tranche of notes, the Adjusted Outstanding Dollar Principal Amount minus the nominal liquidation amount of that tranche.

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Deficit means an excess of liabilities and reserves of a fund over its assets.

  • Class X Notional Balance With respect to any Distribution Date (and the related Accrual Period) the aggregate principal balance of the regular interests in REMIC 3 as specified in the Preliminary Statement hereto.

  • Original Class A Non-PO Principal Balance The sum of the Original Principal Balances of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-R Certificates, as set forth in Section 11.06.

  • Unpaid Realized Loss Amount With respect to any Class A Certificates and as to any Distribution Date, is the excess of Applied Realized Loss Amounts with respect to such Class over the sum of all distributions in reduction of the Applied Realized Loss Amounts on all previous Distribution Dates. Any amounts distributed to the Class A Certificates in respect of any Unpaid Realized Loss Amount shall not be applied to reduce the Certificate Principal Balance of such Class.

  • Class C Unpaid Realized Loss Amount As of any Distribution Date, the excess of (1) the Class C Applied Realized Loss Amount over (2) the sum of (x) all distributions in reduction of the Class C Unpaid Realized Loss Amounts on all previous Distribution Dates and (y) all increases in the Certificate Principal Balance of such Class C Certificates pursuant to the last sentence of the definition of "Certificate Principal Balance."

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Class D Invested Amount means, as of a date, an amount (not less than zero) equal to (a) the initial Note Balance of the Class D Notes, minus (b) the aggregate amount of any principal payments made to the Noteholders of the Class D Notes before that date, minus (c) the cumulative amount of unreimbursed Investor Charge-Offs applied to reduce the Class D Invested Amount under Section 4.3 of the Indenture Supplement before that date, minus (d) the cumulative amount of unreimbursed Reallocated Principal Collections applied to reduce the Class D Invested Amount under Section 4.4 of the Indenture Supplement before that date.

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Class B Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • Aggregate Class B Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class B Notes as of such Distribution Date and (ii) the Class B Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Class A Floating Allocation means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Adjusted Investor Interest as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Investor Interest as of the close of business on such day; provided, however, that, with respect to the first Monthly Period, the Class A Floating Allocation shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Investor Interest and the denominator of which is the Initial Investor Interest.

  • Carryforward Interest For any Class of Certificates and any Distribution Date, the sum of (1) the amount, if any, by which (x) the sum of (A) Current Interest for such Class for the immediately preceding Distribution Date and (B) any unpaid Carryforward Interest from previous Distribution Dates exceeds (y) the amount paid in respect of interest on such Class on such immediately preceding Distribution Date, and (2) interest on such amount for the related Interest Accrual Period at the applicable Pass-Through Rate.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Original Class B-6 Principal Balance The Class B-6 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Class C Invested Amount means, as of a date, an amount (not less than zero) equal to (a) the initial Note Balance of the Class C Notes, minus (b) the aggregate amount of any principal payments made to the Noteholders of the Class C Notes before that date, minus (c) the cumulative amount of unreimbursed Investor Charge-Offs applied to reduce the Class C Invested Amount under Section 4.3 of the Indenture Supplement before that date, minus (d) the cumulative amount of unreimbursed Reallocated Principal Collections applied to reduce the Class C Invested Amount under Section 4.4 of the Indenture Supplement before that date.

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • Original Class B-4 Principal Balance The Class B-4 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Invested Amount less the Principal Funding Account Balance on such date of determination.