Budget Reconciliation Clause Examples
The Budget Reconciliation clause establishes a process for reviewing and adjusting the financial accounts related to a project or agreement to ensure that actual expenditures align with the approved budget. Typically, this clause outlines how parties will compare incurred costs to the budgeted amounts, address discrepancies, and make necessary adjustments, such as issuing refunds or additional payments. Its core practical function is to maintain financial accuracy and transparency, preventing disputes over costs and ensuring that both parties are accountable for adhering to the agreed-upon budget.
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Budget Reconciliation. As soon as practicable following the end of each Month, but in any case within thirty (30) days after the end of each Month, Operator shall provide Owner with a detailed reconciliation report which shall set forth (a) the difference between the total amount of all Actual Operating Expenses incurred during such Month for the Facility and the Approved Budget for the Facility, (b) the actual amount incurred for each line item in and the amount of each line item in the Approved Budget for the Facility in that Month, and (c) the reasons for such deviations. In Operator’s final Billing Report submitted after the end of the term of this Agreement, Operator shall set forth a final reconciliation of the items described in this Section 8.7 and any other items due or payable under this Agreement.
Budget Reconciliation. Manager shall cause to be prepared on an annual operating budget (the "Operating Budget") for the operation, maintenance, repair and leasing of the Property in accordance with the Applicable Standards for the immediately succeeding calendar year. Manager shall deliver a copy of the Operating Budget to Owner at Owner's written request.
Budget Reconciliation. As provided by the terms of Article 4.2, following the year end reconciliation of the actual cost and the performance of the annual audit associated with the terms of this Agreement for the audited actual costs attributable to the performance of the Scope of Services for Contract Year 2023 including applicable management fees, additional expenditures up to $650,000 shall be payable upon submission of an invoice.
Budget Reconciliation. Contractor shall provide a quarterly analysis reconciling Point of Sale and pool allocations against the County’s budgeted sales tax projections for improved monitoring of its sales tax projections and mid-year adjustments.
Budget Reconciliation. The Budget Reconciliation option helps you reconcile available funds with the quantity of kits required. The screen below is the Budget Reconciliation screen. This screen helps you reconcile the number of HIV test kits you require with your available funding. The top part of the screen pertains to your HIV test kit budget. It shows the total amount of funding required to procure all the tests you need. To reconcile the budget, you must first enter all your available funding.
Budget Reconciliation. Promptly, but in no event later than the 10th day following the last day of each Budget Period, commencing with the calendar month ending December 31, 2006, a reconciliation, in form and substance satisfactory to the Administrative Agent, of the actual total payments and cash generation/use of the Company and its Subsidiaries and the actual maximum aggregate principal amount of Loans for such Budget Period to the budgeted line item amounts set forth in the Budget for such Budget Period, including the percentage deviation of actual to budgeted amounts for each line item and for the aggregate principal amount of Loans drawn during and outstanding for such Budget Period as well as a listing of all intercompany loans among the Company and its Subsidiaries outstanding as of the last day of such Budget Period and the net increase or decrease in the principal amount of each such loan since the last budget reconciliation was delivered;
Budget Reconciliation. On or prior to the date on which the Debtors make a request for a Loan pursuant to Section 2.2 of this Agreement other than the initial request for a Loan, the Debtors shall provide the Lender with a comparison of actual receipts and disbursement to the projected receipts and disbursements as set forth in the Budget for the prior Budget Period and on a cumulative basis.
Budget Reconciliation. Section 6.11. Plan Support Agreement and Pleadings Section 6.12. Independence of Covenants
Budget Reconciliation. As provided by the terms of Article 4.2, following the year end reconciliation of the actual cost and the performance of the annual audit associated with the terms of this Agreement for the audited actual costs attributable to the performance of the Scope of Services for Contract Year 2024 including applicable management fees, additional expenditures up to $650,000 shall be payable upon submission of an invoice. Subject to the terms here-in, ESG will facilitate the following activities. The collection system will be assessed with the SL-RAT to comply with EPD system assessment requirements. AUD Collections Department will select all locations and scope for deployment of SL-RAT operations. During SL-RAT operations, manholes will be inspected and asset data accuracy verified in GIS. Manhole data collected will be used to assist with the I&I program and infrastructure improvements. When segments consistently have low scores, mains will be cleaned and video recorded. Data will be entered into CityWorks, and repair work orders generated as needed. ESG will furnish all labor, equipment, and materials to remove and replace existing control valves in the filter gallery at the irrigation plant at Fort Eisenhower according to plans and specifications provided by GMC in Augusta Project #FG_2018-005 as defined in GMC Project # CAUG180004. ESG will bill on a percent complete basis until the project is complete, inclusive of a 12 percent markup. Subject to the terms herein, ESG or its subcontractor shall provide the labor to perform the following tasks (collectively the “Inspection Services”): visual inspections (annual) and washout inspections (bi- annual) of the Tanks for the purpose of reviewing any paint and/or maintenance needs of the identified Tanks of the Owner. The Visual Inspection is completed annually which includes climbing the tank to verify not only coating condition, but safety and sanitary conditions related to maintaining compliance with Georgia EPD regulations. All screens are inspected and replaced yearly as needed, and tank hatches secured to prevent any unauthorized entry. The tank’s legs, rods and connection points, ladders, safety equipment, roof and interior are visually inspected as part of each inspection. The condition is photographed and documented in our CMMS (Computerized Maintenance Management System) and a yearly Condition Assessment report is provided. These inspections are completed while the tank remains in service and they will not c...
Budget Reconciliation. Until such time as the Loan is indefeasibly paid in full, Borrower shall deliver to Lender, within fifteen (15) day after the end of each calendar quarter an statement (a “Budget Reconciliation”) which shows in detail the amounts of Borrower’s Funds and Cash Collateral paid or allocated by or on behalf of Borrower for the previous quarter together with a comparison of the budgeted costs for any items in the Budget Reconciliation which also appear on the Budget hereto.