Common use of Budget to Actual Adjustments Clause in Contracts

Budget to Actual Adjustments. The Authority shall true up budgeted amounts collected from the Activity Participants, grant funding, or other means to actual expenditures annually following the end of each fiscal year. Any over-payments between budgeted and actual expenditures, taking into account any year-end carryover reserve, shall be credited or refunded to each Activity Participant for the period through February 28, 2023, and for each year thereafter, based upon its Participation Percentage. Each Activity Participant shall be billed for any under- payment following the true-up, with payment due thirty (30) days after the invoice is received.

Budget to Actual Adjustments. The Authority shall true up budgeted amounts collected from the Activity Participants, grant funding, or other means Participants to actual expenditures annually following the end of each fiscal year. Any over-payments between budgeted and actual expenditures, taking into account any year-end carryover reservereserve established by the Management Committee, shall be credited or refunded to each Activity Participant in equal shares for the period through February 28, 20232017, and for each year thereafter, based upon its Participation Percentage. Each Activity Participant shall be billed for any under- under-payment following the true-up, with payment due thirty (30) days after the invoice is received.

Budget to Actual Adjustments. The Authority shall true up budgeted amounts collected from the Activity Participants, Participants and grant funding, or other means funding to actual expenditures annually following the end of each fiscal year. Any over-payments between budgeted and actual expenditures, taking into account any year-end carryover reserve, shall be credited or refunded to each Activity Participant for the period through February 2829, 20232020, and for each year thereafter, based upon its Participation Percentage. Each Activity Participant shall be billed for any under- under-payment following the true-up, with payment due thirty (30) days after the invoice is received.