Budget Variance. Budget Variance = Actual Total Revenues ÷ Projected Total Revenues in the Charter School’s Board- Approved Budget The budget variance depicts actual versus projected incoming revenues for a fiscal year. This indicator is important because revenues drive the development of a school’s budget. While the per-pupil funding is the primary revenue source for charter schools, there are other sources (e.g. federal funds, grants, other state funds) that provide the basis for determining costs such as staffing and supplies. A budget based on revenues that are significantly more than its actual revenues may be at-risk of not meeting all of its budgeted expenses. Budgeted revenues that do not exceed actual revenues would not have a significant impact to the risk assessment rating scale. This indicator accounts for 10 percent of a school’s aggregate final risk assessment. Low Acceptable Moderate High Significant Variance is greater than (>) 99% Variance is between 96% – 98% Variance is between 94% – 95% Variance is between 91% – 93% Variance is less than (<) 90%
Budget Variance. 1. The Contractor may transfer funds from one category to another (except for equipment) in the agreed upon and approved budget included in this Contract for a single component without prior notification of the Department under the following conditions:
Budget Variance. As of the Friday after the fourth full calendar week ending after the Petition Date and on each fourth Friday thereafter (each a “Testing Date” and each such period, commencing on the Petition Date or such immediately preceding Testing Date and ending on the relevant Testing Date, a “Testing Period”; provided that the initial Testing Period shall be deemed to include the full calendar week in which the Petition Date occurs), the Borrower shall not permit the aggregate actual cash expenses and disbursements other than Professional Fees made by the Borrower and its Subsidiaries during such Testing Period to be greater than 115% of the projected aggregate cash expenses and disbursements other than Professional Fees as set forth in the Budget for such Testing Period.
Budget Variance. As of the Thursday after the first full calendar week ending after the Petition Date and on each second Thursday thereafter ( such date a “Testing Date” and the period commencing on the Petition Date and ending on the relevant Testing Date, a “Testing Period”; provided that the initial Testing Period shall be deemed to include the full calendar week in which the Petition Date occurs), the Borrower shall not permit (i) total “Aggregate Disbursements” made by the Borrower and its Subsidiaries during such Testing Period to be greater than 110% of forecasted “Aggregate Disbursements” as set forth in the Budget for such Testing Period (ii) “Total Restructuring Expenses” made by the Borrower and its Subsidiaries during such Testing Period to be greater than 110% of forecasted “Total Restructuring Expenses” as set forth in the Budget for such Testing Period or (iii) the total disbursements during such Testing Period, in respect of any individual line item within “Aggregate Disbursements” that is identified on Schedule 9.01(a), to vary from the forecasted amount for such line item set forth in the Budget for such Testing Period, in each case greater than the percentage or dollar amount set forth in Schedule 9.01(a) with respect to such line item (the variances described in these clauses (i), (ii) and (iii), the “Permitted Variance”), provided that, notwithstanding the foregoing, the professional fees for professionals employed by the Administrative Agent, Revolving Agent and Prepetition Term Agent shall be excluded from this variance testing covenant. For the avoidance of doubt, by virtue of the cumulative testing period described above, all “Aggregate Disbursement” positive variances may be used in all future testing periods for variance testing purposes over the forecast.
Budget Variance. 1. The Department requires a formal budget revision for any changes in category amounts.
Budget Variance. With respect to any Variance Test Period, the Credit Parties shall not permit (in each case tested on the date on which the Borrower delivers a Variance Report pursuant to Section 6.01(j)) the positive variance (as compared to the Approved Budget) of aggregate operating disbursements (excluding Other Disbursements) made by the Borrower and its Subsidiaries for such Variance Test Period to exceed 15.0%. The permitted variances set forth in this Section 6.20 shall be referred to herein as the “Permitted Variances”.
Budget Variance. In accordance with 2 C.F.R. § 200.308, Subrecipient may re-budget within the approved direct cost Budget to meet unanticipated requirements; however, some post-award budget changes may require the GLO’s prior written approval pursuant to applicable regulations. Where prior written approval is not required, Subrecipient must give notice to the GLO within thirty (30) days of any changes to the Budget. Where prior written approval is required, Subrecipient may request permission to change the Budget by submitting a Budget Amendment Form and written justification to the Grant Administrator. Such reallocations may not increase or decrease the amount of the CMP grant funds or the total Budget amount and will be effective only upon GLO approval. Any requested changes to the total Budget amount or the Project scope or outcome may be allowed only through a formal, written amendment to the Contract. Subrecipient shall submit to the Grant Administrator a final, actual Budget no later than sixty (60) days following the expiration or termination of the Contract.
Budget Variance a. The Contractor may transfer funds from one category to another (except for equipment, personnel and fringe) in the agreed upon and approved budget included in this contract for a single component without prior notification of the OEC under the following conditions:
Budget Variance. Amendments to decrease or increase the Budget, or to add or delete an Activity may be made only by written agreement of the Parties, under the formal amendment process except that, upon completion of the Activity, the GLO may deobligate any remaining Contract balance through a close-out letter. The GLO may, in its sole discretion and in conformance with federal law, approve other adjustments required during project performance through a Revision or Technical Guidance Letter. Such approvals must be in writing, and may be delivered by regular mail, electronic mail, or facsimile transmission. SUBRECIPIENT SHALL SUBMIT A FINAL BUDGET AND ACTUAL EXPENDITURES AS PART OF THE GRANT COMPLETION REPORT TO THE GLO NO LATER THAN SIXTY (60) DAYS AFTER THE CONTRACT TERMINATION DATE OR AT THE CONCLUSION OF ALL CONTRACT ACTIVITIES, WHICHEVER OCCURS FIRST. THE GRANT COMPLETION REPORT SHALL BE IN A FORMAT PRESCRIBED BY THE GLO AND SHALL CONFIRM COMPLETION OF ALL ACTIVITIES PERFORMED UNDER THIS CONTRACT.
Budget Variance. The actual amount of cash funds and receipts received by the Borrower and cash disbursements made and expenses incurred by the Borrower during the prior week or Cumulative Period do not vary from the Budget approved by Bank for such period by an amount greater than (a) five percent (5%) with respect to cash disbursements and expenses incurred and (b) five percent (5%) with respect to collections.
