Recurrent Expenditure definition

Recurrent Expenditure means any expenditure on the establishment, conduct, administration and maintenance of the Academy which does not fall within the categories of capital expenditure set out at clause 36. The Secretary of State shall pay two separate and distinct grants in respect of Recurrent Expenditure: General Annual Grant (“GAG”) and Earmarked Annual Grant (“EAG”).

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Recurrent Expenditure clause 35;

Recurrent Expenditure means any money spent on the establishment, conduct, administration and maintenance of an Academy which does not fall within Capital Expenditure.

Examples of Recurrent Expenditure in a sentence

• The Secretary of State will pay grants towards Recurrent Expenditure, and may pay grants towards Capital Expenditure, for each Academy.

• The Secretary of State will pay grants towards Recurrent Expenditure and may pay grants towards Capital Expenditure for the Academy.

• Earmarked Annual Grant (“EAG”) may be paid by the Secretary of State to the Academy Trust in respect of either Recurrent Expenditure or Capital Expenditure for such specific purposes as may from time to time be agreed between the Secretary of State and the Academy Trust and as described in the relevant funding letter.

• The Secretary of State shall pay grants towards Recurrent Expenditure and may pay grants towards Capital Expenditure for each Academy.

• Earmarked Annual Grant (“EAG”) may be paid by the Secretary of State to the Company in respect of either Recurrent Expenditure or Capital Expenditure for such specific purposes as may from time to time be agreed between the Secretary of State and the Company and as described in the relevant funding letter.

More Definitions of Recurrent Expenditure

Recurrent Expenditure means any expenditure on the establishment, conduct, administration and maintenance of the Academy which does not fall within the categories of capital expenditure set out at clause 62. The Secretary of State shall pay two separate and distinct grants in respect of recurrent expenditure: General Annual Grant ("GAG") and Earmarked Annual Grant ("EAG").

Recurrent Expenditure clause 36; “Start-up Period” – clause 50; In this Agreement the following words and expressions shall have the following meanings:-

Recurrent Expenditure means normal overhead and administrative expenses and personnel cost including salaries, emoluments and other benefits of employees;

Recurrent Expenditure clause 35; “Start-up Period” – clause 55; In this Agreement the following words and expressions shall have the following meanings:-

Recurrent Expenditure means any expenditure on the establishment, conduct, administration and maintenance of the alternative provision Academy which does not fall within Capital Expenditure. The Secretary of State shall pay separate and distinct grants in respect of Recurrent Expenditure: General Annual Grant (“GAG”), Earmarked Annual Grant (“EAG”) and where appropriate Additional Funding under clause 56.

Recurrent Expenditure means any expenditure on the establishment, conduct, administration and maintenance of the Academy which does not fall within the categories

Recurrent Expenditure means the operating expenses of an LA other than capital expenditure that are incurred on a regular basis to meet its mandate.