Significant Variance definition

Significant Variance means an occurrence where the magnitude of the variance is such that the individual responsible for the expenditure would reasonably be expected to know the reason for the variance and take corrective measures. No absolute dollar value is provided to define significance because the significance of a variance is largely a matter of judgment;
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Significant Variance means, as applicable:
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Significant Variance means a notable difference, or a repeat Minor Variance between the actual measure of the level of Service and the Performance Target which may lead to a material change in Costs or non-compliance with regulatory requirements.
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Examples of Significant Variance in a sentence

  • Where any Business Plan and/or any Annual Budget contains more than one Significant Variance, then a separate Consent of the Partners shall be sought for each such Significant Variance.

  • Unless it shall have first obtained the Consent of the Partners, the Committee shall not adopt or otherwise approve any Business Plan or Annual Budget containing any Significant Variance from the then-current Baseline Business Plan, provided that where Consent of the Partners is obtained with respect to any Significant Variance, further Consent of the Partners will be required for any subsequent unfavorable variance from the amounts so approved.

  • There are two (2) such conditions identified by the Parties: Significant Variance and Significant Change in Per Pupil Funding.

  • If there is a Significant Variance or a Significant Change in Per Pupil Funding for either Party, as defined above, then the JPA shall determine whether and/or how to adjust Section 5 and Section 6 of the Agreement based on the guiding principles that no student is harmed, considering the revenues identified in Exhibit D1 and/or D2.


More Definitions of Significant Variance

Significant Variance occurs when there is an unforeseen change in revenue, including but not limited to: natural disasters, changes in state law affecting how California school districts are funded, including the collection of property taxes distributed to school districts, and/or changes to the amount of Local Revenues collected by the Parties.
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