VIK definition
Examples of VIK in a sentence
Because a percentage of all U.S. Olympic Committee resources allocated are given to us as United VIK, either we use it fully, or we have to reduce available cash in other program/project areas.
This will be based on the overall VIK balance and projections for the months remaining in this fiscal year.
We understand that United is not always an option, but the bottom line is that a percentage of the funding provided to you is in the form of United VIK, so everyone either helps use it or the funding gets reduced.
The USCA accrues benefit (as bonus VIK) when we purchase tickets for Curling flights.
You should be aware that all staff (including in the National Office), as well as any directors flying on USCA business make United VIK their first priority when traveling, so that we can help turn this VIK into cash to support the high performance programs.
Again, we will provide monthly VIK status reports to you, and will keep you apprised as to whether or not more cash can be made available to teams and staff who have not yet met the 10% minimum VIK usage requirement.
We even have directors and others who will book personal flights using United VIK and then pay the USCA for these tickets to help convert the VIK to cash.
So there’s no misunderstanding, if your team was advised that it has been allocated $10,000, this will be recorded in our budget as $9,000 in cash and $1,000 in United VIK.
All National Team Program staff budgets are also being recorded as 90% cash, 10% VIK, and this is based both on expense budgets and salaries/stipends.
All National Team program travel/training funding will be allocated as 90% cash and 10% United VIK.