Budget Adoption. On or before June 30th of each year, the Board shall, by approval of a majority of all members of the Board, adopt a proposed budget for the ensuing year. The budget shall include the total amount necessary for administrative expenses, operational expenses and capital expenses. The Board shall certify the budget on or before June 30th to the governing bodies of the Parties to this Agreement, together with a statement of the proportion of the budget to be contributed by each party. By August 1st of each year the Parties to this Agreement shall approve or object to the proposed budget and the parties’ financial contribution and give notice of its action to the Board. The budget shall be deemed approved in the absence of action by August 1st. Final action adopting a budget for the ensuing calendar year shall be taken by the Board on or before August 15th of each year.
Budget Adoption. By April 1 of each year the Committee shall adopt an annual workplan and operating and capital budgets for the following calendar year including a statement of the sources of funding.
Budget Adoption. Each of the Contracting Agencies shall biennially review and approve a budget of estimated revenues and expenses to be incurred with respect to the management and maintenance of the Farm. Each Contracting Agency shall be responsible for obtaining annual budgetary approval from its Governing Body for one-half (1/2) of the total annual budgeted expenses.
Budget Adoption. 4.1 The Budget approved by the Financial Advisory Board for each fiscal year shall be the standard against which the City's compliance with relevant statutory requirements and the relevant provisions of this Agreement shall be measured. The Budget adopted for each fiscal year shall comply with the following requirements:
Budget Adoption. The City Council of the City of San Xxxx and the Board of Directors of the Santa Xxxxx Valley Water District shall consider any recommendation tendered by the Recycled Water Policy Advisory Committee on their respective proposed budgets for the ensuing fiscal year for the maintenance, expansion, replacement, improvement and operation of the SBWR or the AWTF. District acknowledges that the budget for the SBWR is also subject to review by the City Council of the City of Santa Xxxxx and the Treatment Plant Advisory Committee, which advises the City Council of the City of San Xxxx and the City Council of the City of Santa Xxxxx on certain matters related to the Plant. If the City Council of the City of San Xxxx or the Board of Directors of the Santa Xxxxx Valley Water District adopts a budget for the ensuing fiscal year for the SBWR or the AWTF that is materially different than the budget that was recommended by the Recycled Water Policy Advisory Committee, or if said Council or Board fails to materially implement the budget recommendation of the Recycled Water Policy Advisory Committee, the City or District as applicable shall forward a statement of the reasons for such action to the Recycled Water Policy Advisory Committee.
Budget Adoption. The Governing Board shall annually approve a draft BVWACS Budget upon the approval of three-fourths of its members in accordance with the timeframes set forth herein and recommend approval of the Budget to the governing bodies of the BVWACS Parties, including approval to appropriate their proportionate share of the BVWACS Budget. All Operating Costs must be included in each annual BVWACS Budget as well as any Capital Costs. The Budget shall include any and all costs relating to employees in implementing and maintaining the BVWACS. If any BVWACS Party does not agree with the draft BVWACS Budget as presented, it must provide the Governing Board with a detailed explanation of its issues with the draft Budget within 30 days after receipt of it. Each member of the Governing Board shall consult with its governing body or appropriate budget review personnel before voting to approve any Budget.
Budget Adoption. On or before December 31st of each year, the Board shall, by approval of a majority of all members of the Board, adopt a proposed budget for the ensuing year. The budget shall include the total amount necessary for administrative expenses, operational expenses and capital expenses.
Budget Adoption. A. By the December 31st of each year, the Fund commissioners, or the executive committee, if such is established, shall adopt the budget for the coming fiscal year by majority vote.
Budget Adoption. The TIMMA Board of Commissioners and the AC Transit Board of Directors will each independently adopt the budget for operations of the East Bay bus service on an annual basis. The budget will include information about the amount of service to be operated, the schedule of service to be provided, the number of buses to be procured and in operation and the expected revenue from all sources including fares. In the unlikely event that the two agencies cannot develop a mutually agreeable funding level, buses procured by TIMMA will be returned to the agency in good working order, and all agreements between the two agencies will be voided with a minimum of 180 days’ notice. Either TIMMA or AC Transit may take an action to terminate the Operating Agreement with a minimum of 180 days’ written notice.
Budget Adoption. The Board will consider the proposed budget consistent with the schedule presented in Exhibit 8. Furthermore, the Board will strive to adopt the budget by resolution in April of each year to enable the Parties to adequately reflect necessary commitments in their own respective budgets, but in no case will the Board adopt the annual budget later than June 1st of each year. The adopted budget shall include estimated subtotals for the categories of personnel services, materials and services, capital outlay, and all other appropriation categories used in the adopted budget. The adopted budget shall also include a narrative describing the supporting detail and assumptions summarized for the Board’s consideration, including personnel counts stated as full-time equivalents. Each Party’s proportionate share of expenses of operations and maintenance of the Intake Facilities, including reserves and replacements, debt services, payments to the Managing Agency, and all other expenses as may be incurred by the Commission, shall be estimated by the Managing Agency and set forth in the Commission’s adopted budget.
