Annual Budget Approval Process Sample Clauses

Annual Budget Approval Process. Approval of the annual budget of SFWDB for purposes of carrying out the duties of SFWDB pursuant to Section 108 of WIOA shall follow the following procedure. SFWDB shall prepare and adopt an annual budget as may be required by law and transmit the same to the Consortium for its approval. Transmission of the budget shall be by sending or delivering a copy of the budget to both the Chair and the county administrator or county manager, as applicable, for each of the Counties. The budget submitted to the Consortium for approval under this section shall be deemed approved by the Consortium at the end of the sixty (60) day period beginning on the date upon which the proposed budget is received by the Consortium (“Budget Review Period”) unless one or more members of the Consortium notifies SFWDB in writing prior to the expiration of the Budget Review Period of either an objection to the budget or that it has requested a meeting of the Consortium to review the budget. If any member of the Consortium provides such written notice to SFWDB, a meeting of the Consortium shall be called for the purpose of reviewing the budget within thirty (30) days after the Consortium member’s correspondence (“Requested Budget Review Period”). In the event the Consortium does not take action to approve or disapprove the budget for any reason prior to the expiration of the Requested Budget Review Period, the budget shall be deemed approved by the Consortium. During any period of review of the budget by the Consortium and until approval of the budget by the Consortium, SFWDB can continue its operations consistent with the budget that was most recently approved by the Consortium. Any material modification to any budget approved by the Consortium hereunder shall be approved by the Consortium in accordance with the foregoing procedure. For purposes of this section, the addition into SFWDB’s budget of mid-year, program specific earmarked funds from the state or federal government shall not be deemed to be a material modification to SFWDB’s budget.
Sample 1
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Annual Budget Approval Process. On or before August 31st of each year of the Term, Operator shall submit to Owner for review and approval the Annual Budget for the following year and the corresponding Five Year Forecast. Owner shall have until September 30th to review, approve and reach agreement with Operator on such submittals. The Board of Managers for the Operator shall have until October fifteenth (15th) to approve in writing the Annual Budget for the following Year and the corresponding Five Year Forecast. In the event that the Board of Managers of the Operator and the Owner cannot reach agreement on the Annual Budget by November fifteenth (15th) then such disputes shall be resolved in accordance with ARTICLE XIII and pending resolution and agreement on such disputes, portions of the Annual Budget may be approved by budget category (e.g., approve all Costs of Operation but dispute Certain Costs of Capital Improvements). For disputed amounts the second year of the latest agreed upon latest agreed upon Five Year Forecast shall be used to govern the following calendar year; provided that such existing Annual Budget shall be increased as necessary to complete Capital Improvements in progress at the beginning of such year (subject to cancellation of the project by Owner), the costs of the actual Pension Fund Contributions and the cost of any Capital Improvements which Operator certifies are otherwise required for the safe operation of the Plant in accordance with the Operating License and consistent with Good Utility Practice; provided, however, that, with respect to Costs of Operation or Costs of Capital Improvements, no such increase in the second year of the last agreed upon Five-Year Forecast shall occur if Owner has notified the Operator that the Plant is to be permanently shut down prior to, or during, such budget year.
Sample 1

Related to Annual Budget Approval Process

  • Approval Process Tenant shall notify Landlord whether it approves of the submitted working drawings within three business days after Landlord’s submission thereof. If Tenant disapproves of such working drawings, then Tenant shall notify Landlord thereof specifying in reasonable detail the reasons for such disapproval, in which case Landlord shall, within five business days after such notice, revise such working drawings in accordance with Tenant’s objections and submit the revised working drawings to Tenant for its review and approval. Tenant shall notify Landlord in writing whether it approves of the resubmitted working drawings within one business day after its receipt thereof. This process shall be repeated until the working drawings have been finally approved by Landlord and Tenant. If Tenant fails to notify Landlord that it disapproves of the initial working drawings within three business days (or, in the case of resubmitted working drawings, within one business day) after the submission thereof, then Tenant shall be deemed to have approved the working drawings in question. Any delay caused by Tenant’s unreasonable withholding of its consent or delay in giving its written approval as to such working drawings shall constitute a Tenant Delay Day (defined below). If the working drawings are not fully approved (or deemed approved) by both Landlord and Tenant by the 15th business day after the delivery of the initial draft thereof to Tenant, then each day after such time period that such working drawings are not fully approved (or deemed approved) by both Landlord and Tenant shall constitute a Tenant Delay Day.

  • New Project Approval Consultant and District recognize that Consultant’s Services may include working on various projects for District. Consultant shall obtain the approval of District prior to the commencement of a new project.

  • Annual Budget Prior to the Closing Date, Borrower has submitted and Lender has approved an Annual Budget for the 2014 calendar year (the “Approved Initial Budget”). Borrower shall submit to Lender by November 1 of each year the Annual Budget relating to the Properties for the succeeding calendar year. During the continuance of a Cash Sweep Period, Lender shall have the right to approve each Annual Budget (which approval shall not be unreasonably, conditioned or delayed withheld so long as no Event of Default is continuing). An Annual Budget approved by Lender during a Cash Sweep Period or any Annual Budget submitted prior to the commencement of a Cash Sweep Period, shall each hereinafter be referred to as an “Approved Annual Budget”. In the event of a Transfer of any Property the Approved Annual Budget shall be reduced as reasonably determined by Lender in consultation with Borrower in order to reflect the removal of such Property and the Operating Expenses associated therewith; provided, further, that no such reduction shall be made in the event such Transfer is made in connection with a substitution under Section 2.4.2(a). If Lender has the right to approve an Annual Budget pursuant to this Section 4.3.2, neither Borrower nor Manager shall change or modify the Annual Budget that has been approved by Lender without the prior written consent of Lender (which consent shall not be unreasonably withheld, conditioned or delayed so long as no Event of Default is continuing). The “Monthly Budgeted Amount” for each Payment Date shall mean the monthly amount set forth in the Approved Annual Budget for Operating Expenses for the Interest Period related to such Payment Date, but excluding management fees, Property Taxes that are required to be deposited into the Tax Subaccount pursuant to Section 6.1 and Insurance Premiums that are required to be deposited into the Insurance Subaccount pursuant to Section 6.2. If during any Cash Sweep Period, Borrower has submitted an Annual Budget and such Annual Budget has not been approved prior to the commencement of the calendar year to which such budget relates then the previous Approved Annual Budget shall continue to be deemed to be the Approved Annual Budget for that calendar year.

  • Project Approval The County may issue a Job Order Authorization for the Work, to include the firm-fixed-price of the Job Order and the project duration. Contractor agrees that all clauses of this Contract are applicable to any Job Order issued hereunder. The County reserves the right to reject a Contractor’s Quote based on unjustifiable quantities and/or methods, performance periods, inadequate documentation, or other inconsistencies or deficiencies on the Contractor’s part in the sole opinion of the County. The County reserves the right to issue a unilateral Job Order authorization for the Work if a Quote price cannot be mutually agreed upon. This is based upon unjustifiable quantities in the sole opinion of the County. The County also reserves the right to not issue a Job Order Authorization if the County’s requirement is no longer valid or the project is not funded. In these instances, the Contractor has no right of claim to recover Quote expenses. The County may pursue continuing valid requirements by other means where Contract was not reached with the Contractor.

  • Annual Budgets The School shall adopt a budget for each fiscal year, prior to the beginning of the fiscal year. The budget shall be in the Idaho Financial Accounting Reporting Management Systems (IFARMS) format and any other format as may be reasonably requested by the Authorizer.

  • Approval of Plans and Specifications The Plans and Specifications will conform to the requirements and conditions set out by applicable law or any effective restrictive covenant, and to all governmental authorities which exercise jurisdiction over the Leased Premises or the construction thereon.

  • Budget Consulting Engineer/Architect shall advise City if, in its opinion, the amount budgeted for construction is not sufficient to adequately design and construct the improvement as requested.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Program Budget A) Contractor will expend funds received for operation of its program and services according to Contractor’s annual operating budget. The portions of said budget, which reflect services performed or money paid to Contractor pursuant to this Agreement shall be subject to the approval of the Human Services Agency. B) In the event Contractor determines a reasonable business necessity to transfer funding between personnel and operating expenses specified in the budget submitted to the Human Services Agency the following will apply: 1. Contractor will notify the Human Services Agency of transfers that in the aggregate are between ten percent (10%) and twenty percent (20%) of the maximum contract amount.

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