ANNUAL FINANCIAL CONTRIBUTIONS. 9.1 The amount to be contributed to the Regional Library by each Council during each financial year shall be the sum of -
a. the amount specified in the Regional Library's adopted annual budget;
b. all State Government library subsidies and grants received by the Council for the library services; and
c. funds received by the Council from any other source for library services.
9.2 The Councils must agree on a funding formula for the purpose of making annual financial contributions to the Regional Library under clause 9.1 (a).
9.3 Each Council's financial contribution to the Regional Library shall be paid in quarterly instalments on the first day in July, October, January and April of each year.
9.4 All instalments shall be paid in equal instalments.
9.5 All other Council contributions under clause 9.1 shall be paid within one month of receipt of a tax invoice from the Regional Library.
9.6 In addition to the contributions payable under this clause, a Council shall be responsible for the Regional Library's costs in providing any additional service or resources requested by the Council and such costs are to be paid within 30 days of the Council receiving an invoice from the Regional Library.
9.7 Interest shall be paid on any amount payable under clause 9 which is not received by the Chief Executive Officer within 14 days of the due date at the rate fixed by the Governor in Council for the purposes of section 172 of the Act and calculated monthly from the date the amount became due until the date it is received by the Chief Executive Officer.
ANNUAL FINANCIAL CONTRIBUTIONS. 9.1 The amount to be contributed to the Regional Library by each Council during each financial year shall be the sum of:
a. the amount specified in the Budget including: • the Council’s agreed proportion of the operating expenses of the Regional Library; • the Council’s agreed proportion of amounts payable for Special Projects; • all State Government library subsidies and grants received by a Council for library services which relate to the services provided or to be provided by the Regional Library; • funds received by a Council from any other source for library services provided or to be provided by the Regional Library; and
b. funds received by a Council from any other source for library services to be provided by the Regional Library, in respect of which no provision has been made in the Budget.
9.2 Subject to clause 9.3 and for the purposes of clause 9.1 (a), from the commencement of this Agreement, the proportion of the operating expenses of the Regional Library to be contributed by each Council is:
a. Manningham – 40%; and
b. Whitehorse – 60%.
9.3 The Councils may agree, in writing, to an alternative method of calculating their contributions to the operating expenses of the Regional Library but, if the parties cannot agree, the contributions will remain in the proportions set out in clause 9.2.
9.4 Each Council’s financial contribution to the Regional Library under clause 9.1 shall be paid in quarterly instalments on the first day of July, October, January and April of each year, or, if pursuant to a contract with an external service provider, the Regional Library is required to make payments more frequently than quarterly, with sufficient frequency to ensure that the Regional Library is capable of observing its contractual obligations with the external service provider.
9.5 If the proposed annual budget has not been approved by each Council by 1 July, the first instalment for that year shall be the same amount paid by the Council in the previous quarter and the second instalment shall include any adjustment to ensure the two instalments together equal half the amount to be paid by that Council for that financial year or as soon as reasonably practicable, subject always to clause 9.10.
9.6 All other Council contributions under clause 9.1 shall be paid within one month of receipt of the monies by the Council.
9.7 In addition to the contributions payable under this clause, a Council shall be responsible for the Regional Library’s costs in providing an...
ANNUAL FINANCIAL CONTRIBUTIONS. 4.1. Subject to paragraphs 4.4 and 4.5, each of the parties shall make an annual financial contribution during the Term in the amount of seven hundred and fifty dollars ($750.00), which funds shall be used solely for the payment of invoices rendered by the hearing officer.
4.2. Pelham shall render an invoice to each party for the initial financial contribution within thirty (30) days of the Effective Date, which shall be payable within fifteen (15) days. Subject to paragraph 4.4, Xxxxxx shall render an invoice to each party for subsequent annual financial contributions on the anniversary of the Effective Date, which shall be payable within fifteen (15) days.
4.3. The parties shall pay all annual financial contributions to Pelham by way of cheque. Pelham shall deposit and retain all annual financial contributions received from the parties in a separate general ledger account designated for that purpose and shall pay all invoices rendered by the hearing officer from that account.
4.4. Notwithstanding any other term of this Agreement, the annual financial contribution of each party shall be limited to the amount set out in paragraph 4.1 provided that the party receives no more than twenty (20) Appeals in that year. In the event that a party receives more than twenty (20) Appeals in any year of the Term, it shall make a further financial contribution in the amount of fifty dollars ($50.00) for each additional Appeal. Pelham shall render an invoice for each additional Appeal received by a party, which shall be payable in accordance with paragraphs 4.2 and 4.3 of this Agreement.
4.5. Notwithstanding any other term of this Agreement, if the total amount of the annual financial contributions of the parties exceeds the total amount of the invoices rendered by the hearing officer in any year of the Term, the excess shall be used to reduce, on an equal basis, the amount of subsequent annual financial contributions payable by each party pursuant to paragraph 4.1. Any excess funds remaining at the conclusion or termination of this Agreement shall be refunded to the parties on an equal basis.
ANNUAL FINANCIAL CONTRIBUTIONS. The amount to be contributed to the Regional Library by each Council during each financial year shall be the sum of:
