Annual Budget Process. The Manager shall prepare and submit to Owner at least 45 days before the beginning of each Calendar Year after the first Property Acquisition by Owner, a budget (“Draft Budget”) detailing the Development Activities planned to be commenced during the relevant Calendar Year, which shall specify the amounts expected to be spent by the Owner during such Calendar Year to conduct such Development Activities, and to otherwise own its Assets and conduct the Business during such Calendar Year; provided that in connection with the first acquisition made by the Owner, the Manager shall deliver a Draft Budget to Owner in connection with such acquisition as contemplated by Section 9.2(a). The Owner shall approve or disapprove the Draft Budget no later than 15 days prior to the start of the Calendar Year; provided that the first Draft Budget shall be approved as provided in Section 9.2(a). If the Owner approves the Draft Budget, the Draft Budget shall be deemed the Budget for purposes of this Agreement, until revised in accordance with Section 3.1(b) below. If the Owner fails to approve a Draft Budget by the commencement of a Calendar Year, then until a Draft Budget for such Calendar Year is approved, the Manager is authorized to pay from the Owner’s account the costs and expenses incurred in the ordinary course of business in amounts materially consistent with, and for Development Activities and other activities set forth in, the prior Calendar Year’s Budget as adjusted for supplements to such Budget attributable to any subsequent Property Acquisition(s), including in respect of costs and expenses to the extent incurred pursuant to the contractual obligations of the Owner, including any Material Commitments, and other costs and expenses approved as provided in this Agreement.
Annual Budget Process. Each year, in accordance with Spansion’s normal budget process, AMD shall meet with Spansion and assist Spansion as requested in developing an overall information technology budget, including expenditures for Special Projects and expenses that are to be paid directly by Spansion to third parties. Each such annual meeting will also address changes to the Services, the Service Levels and the applicable Fees for the succeeding year and the Parties will agree in writing upon the Services, Service Levels and Fees for the succeeding year. In addition, each year AMD will notify Spansion of the Spansion T&M Rates for the next year. The Fujitsu Services Advisor may advise Spansion regarding all such matters in the Fujitsu Services Advisor’s reasonable judgment.
Annual Budget Process. In preparation for the annual budget process, VDOT shall estimate toll revenues and anticipated allocation of the estimated toll revenues for the upcoming six-year period presented in the Six Year Financial Plan and Six Year Improvement Program and provide said estimates to NVTC not later than January 30th of each year.
Annual Budget Process. Each year, in accordance with Spansion’s normal budget process, AMD shall meet with Spansion and assist Spansion as requested in developing an overall general administrative services budget, including expenditures that are to be paid directly by Spansion to third parties. Each such annual meeting will also address changes to the Services and the applicable Fees for the succeeding fiscal year and the Parties will agree in writing upon the Services, Service Levels (as applicable) and Fees for the succeeding year. The Fujitsu Services Advisor may advise Spansion regarding all such matters in the Fujitsu Services Advisor’s reasonable judgment.
Annual Budget Process. Each year, in accordance with Spansion’s normal budget process, AMD and Spansion will meet and address changes to the Services and the applicable Fees for the succeeding fiscal year and the Parties will agree in writing upon the Services, Service Levels (as applicable) and Fees for the succeeding year.
Annual Budget Process. Prior to June 1 of each year, the ME shall prepare a line-item budget, in the same format utilized by COUNTIES per Florida law, for consideration by the COUNTIES. Such budget shall be reviewed and approved by the DOMES Board prior to submittal to the COUNTIES for review. The COUNTIES shall review and approve the ME budget as part of their annual budget process. However, COUNTIES are requested to review the ME budget early in their budget process and meet individually or collectively with their DOMES Board appointee, the ME, and the ME’s staff. The resulting approved budget shall not require an amendment to this Agreement. Final approval of the ME budget shall rest with the Board of County Commissioners of each County.
Annual Budget Process. Each year, in accordance with Spansion’s normal budget process, Fujitsu shall meet with Spansion and assist Spansion as requested in developing an overall general administrative services budget, including expenditures that are to be paid directly by Spansion to third parties. Each such annual meeting will also address changes to the Services and the applicable Fees for the succeeding fiscal year and the Parties will agree in writing upon the Services, Service Levels (as applicable) and Fees for the succeeding year. The AMD Services Advisor may advise Spansion regarding all such matters in the AMD Services Advisor’s reasonable judgment.
Annual Budget Process a. A copy of the Alma transit budget for XXX Xxxx 30, 2021 (i.e. July 1, 2020-June 30, 2021) is attached to this Agreement at Exhibit A and is hereby incorporated in full by reference.
Annual Budget Process. Omnitrans
Annual Budget Process. By September 1st of each year, Manager will provide to the City for City review and approval a proposed budget for the coming year consisting of an estimate of the revenues and operating expenses anticipated for that year. After City staff review of said budget and revenue and expense projections, the expense budget and revenue budget (as revised pursuant to staff review and discussion with Manager) will be proposed for City Council approval of the necessary appropriations as part of the City’s annual budget process. If approved by the Council and Mayor, that will then constitute the Approved Annual Budget for that calendar year. Manager may propose at any time for City consideration a budget increase to provide more active services and/or funding for modest capital improvements, if said improvements are needed to keep the site safe or if Manager can provide reasonable assurances that those additional services/improvements will allow Manager to secure customers that will generate enough additional revenues to offset those additional expenses and there are sufficient funds appropriated to the Contract. If approved in writing by the City Finance Officer, the Approved Annual Budget will be increased accordingly. If at any time the projected revenues are not secured, the City will reserve the right with reasonable notice to revise the Approved Annual Budget back to a lower amount to more closely approximate the actual revenues available, provided that any expenses incurred by Manager prior to the date of the budget adjustment shall be reimbursed by the City. Manager’s obligation to pay any operating expenses, and the City’s obligation to reimburse Manager for those expenses, are limited to the extent that such expenditures and costs are included in an Approved Annual Budget. To the extent any such necessary costs and expenditures are not covered by funds in the then current Approved Annual Budget, Manager shall promptly notice the Contract Manager of the same and the City shall have the sole and exclusive right to refuse to reimburse such expenses for any reason. The Approved Budget for a ten-month contract in 2021 is reflected below: EXPENSE Other utilities (e.g. electricity, telecommunication, etc.) 50,000 Security services 80,000 Insurance 25,000 Licenses and permits 1,500 Site Maintenance Services 75,000 Disposal & site clean-up 80,500 Maintenance – Equipment, buildings and structures 40,000 Management fee 68,000 TOTAL $420,000 Management Fee The City will...
