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. On or before June 1st 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 July 15th 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. The HFA will adopt an estimated budget for HFA programs administered by the County by June 1 prior to the start of each fiscal year.
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.
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:
(a) To the extent consistent with the Recovery Plan, each Budget shall be prepared and presented, and each appropriations act proposed by the City shall be adopted, in accordance with the provisions of Public Act 2 of 1968, the Uniform Budgeting and Accounting Act and applicable provisions of the City Charter, provided that the preparation and presentation of each Budget and appropriations act shall at all times be subject to Section 14a(8) of Public Act 4.
(b) Beginning with the first Budget adopted after the execution of this Agreement, the proposed Budget for each fiscal year shall be transmitted to the Financial Advisory Board at least 45 calendar days in advance of the beginning of such fiscal year. The adopted budget shall incorporate a second year planning budget.
(c) In the event that the Mayor and Council do not adopt a budget at least 45 days prior to the beginning of a fiscal year, the Chief Operating Officer, in consultation with the Mayor and Council, may prepare and present to the Financial Advisory Board a budget for the following fiscal year. Such a budget shall not take effect unless approved by the Financial Advisory Board.
(d) During the period covered by any Budget, the Mayor or the Chief Operating Officer shall propose such amendments to the existing Budget as are necessary (e.g., the reduction of budgeted expenditures; the adjustment of quarterly allotments) on a timely basis so as to prevent an expenditure from being made for which adequate revenues are unavailable or are projected to be unavailable (e.g., on account of a shortfall in actual revenue, or unusual or extraordinary expenditures) or otherwise to support the initiatives in the Recovery Plan. No amendments or modifications proposed by the Mayor or the Chief Operating Officer to any proposed or approved Budget shall become effective prior to such amendments being approved by the Financial Advisory Board.
(e) In the event that any necessary reductions are not made pursuant to Section 4.1(c) above, the Financial Advisory Board shall have the authority to reduce the City's budget in consultation with the Mayor and the Chief Operating Officer to properly reflect...
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.
a. The Board shall certify the Administrative Expenses portion of the budget on or before November 1st, 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 December 15th, of each year the Parties to the Agreement shall approve or object to this portion of the proposed budget and the parties’ financial contributions and give notice of its actions to the Board. This portion of the proposed budget shall be deemed approved in the absence of action by the Parties to this Agreement by December 15th. Final action adopting this portion of the proposed budget for the ensuing calendar year shall be taken by the Board on or before December 31st of each year.
b. The Board shall certify the Capital Expenses and Operational Expenses portion of the budget on or before November 1st to the governing bodies of the Parties to this Agreement, together with statement of the proportion of the budget to be contributed by each party. By December 15th of each year, the Parties to this Agreement shall approve or object to this portion of the proposed budget and the parties’ financials contribution and give notice of its actions to the Board. This portion of the proposed budget shall be deemed approved in the absence of action by the Parties to the Amendment by December 15th. Final action adopting this portion of the proposed budget for the ensuing calendar year shall be taken by the Board on or before December 31st of each year.
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.
B. A copy of the Fund’s proposed budget (as changed to reflect the actuary report) shall be sent to each member at least fifteen (15) days prior to the time scheduled for its adoption. No budget or amendment shall be adopted until a hearing has been held in accordance with N.J.
Budget Adoption. Each of the Contracting Agencies shall biennially review and approve the Meadowbrook Farm budget with respect to the management and maintenance of the Farm, pursuant to Section 4.6. 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 net losses.
5.1.1 The Budget Adoption process described herein will begin in 2024.
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 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.
