Budget Surplus or Deficit Sample Clauses
Budget Surplus or Deficit. In the context of a net budget of close to £1.82 million it will be impossible to achieve an end of year result that is exactly on budget, though the objective will be to be within budget. It is therefore agreed that:
a) If any variance is less than £100,000 then it may, except in the last year of this agreement) be carried forward to the next year.
b) If any variance exceeds £100,000 Partner Authorities may agree that the surplus or deficit is to be eliminated by making an adjustment to the annual contribution.
Budget Surplus or Deficit. For the contract period for the experience of OHP Members assigned to SCMG, Mosaic Medical and COIPA, the single community HCB will be compared to actual expenses incurred per Section 7.5 to determine whether a Surplus or Deficit exists.
Budget Surplus or Deficit. 4.5.1 In the context of a net budget of close to £2 million it will be impossible to achieve an end of year result that is exactly on budget, though the objective will be to be within budget. It is therefore agreed that if any variance exceeds £ ,000 Partner Authorities will have to agree a course of action such that Colchester as the lead authority is not disadvantaged or benefited and shall agree that the surplus or deficit is to be eliminated by making an adjustment to the annual contribution
Budget Surplus or Deficit. The Executive Director shall disclose to the Board of Directors whether there is projected to be a budget surplus or deficit at the end of each fiscal year. The Board of Directors shall determine how to address any budget surplus or deficit.