Budget Update. The updated budget provided by the Parent to the Administrative Agent on January 26, 2004 has been reviewed and approved by the board of directors of the Parent and, as of the Effective Date, continues to represent the Parent's good faith estimate with respect to the matters contemplated therein.
Budget Update. No later than the third Business Day after the end of (x) every four calendar weeks in the case of clause (a) below (beginning with the four-week period ending on January 29, 2016) or (y) every calendar week in the case of clause (b) below, in each case, after the Closing Date (beginning with the week ending January 8, 2016), the Borrower will provide to the Administrative Agent and the Lenders:
(a) a new thirteen (13)-week weekly budget, in form and substance substantially similar to the Initial Budget and containing information reasonably requested by the Majority Backstop Lenders (such budget, together with the Initial Budget, the “Budget”) (provided that the Majority Backstop Lenders, in their reasonable discretion, shall have the right to dispute any such updates by providing the Borrower notice thereof within five Business Days after the delivery by the Borrower of any such update; provided further that (i) to the extent the Majority Backstop Lenders do not provide such dispute notice within such five Business Day period, such update shall be deemed approved and consented to by the Backstop Lenders and shall be deemed to constitute the Budget upon the expiration of such five Business Day period and (ii) to the extent the Majority Backstop Lenders do provide such dispute notice within such five Business Day period, the then-existing Budget shall continue to constitute the applicable Budget until such time as an update is agreed to among the Borrower and the Majority Backstop Lenders); and
(b) a variance report (the “Variance Report”), in form and substance reasonably satisfactory to the Majority Backstop Lenders, detailing the following:
(i) the aggregate Receipts of the Borrower and its Subsidiaries during the four-week period ending on the Testing Date (the “Testing Period”) and the aggregate Operating Disbursements and other disbursements, in each case made by the Borrower and its Subsidiaries during such Testing Period; and
(ii) any variance (whether plus or minus and expressed as a percentage) (a) between the aggregate Receipts of the Borrower and its Subsidiaries during such Testing Period against the aggregate Receipts set forth in the Budget for such Testing Period and (b) between the aggregate Operating Disbursements made during such Testing Period by the Borrower and its Subsidiaries against the aggregate Operating Disbursements set forth in the Budget for such Testing Period.
(c) For purposes herein, “Testing Date” shall mean the last Busin...
Budget Update. 60 ARTICLE 4 CONDITIONS..................................................... 61 4.1 Conditions Precedent to Effectiveness of Agreement................. 61 4.2 Each Credit Event.................................................. 63
Budget Update. (A) The Parent shall supply to the Agent (in sufficient copies for those Lenders which have requested copies) as soon as the same becomes available but in any event within 60 days of the end of each Accounting Quarter, an update of the projections contained in the most recent Operating Budget delivered to the Agent; and
(B) Each update of the Operating Budget shall include the same items as are required to be included in the Budget. Each set of Financial Statements of the Parent (other than its management accounts for each Accounting Period), the Operating Budget and the update to the Operating Budget shall have been approved by a meeting of the board of directors of the Parent.
Budget Update. The Owner shall establish and update the Budget based on consultation with the Architect/Engineer, which shall include the Construction Cost, the Owner's other costs and reasonable contingencies related to all of these costs.
Budget Update. The portfolio’s current cash limit budget approved at the Budget Council Meeting was set at £21.330m. The table below illustrates the budget adjustments from the 2020/21 Quarter 3 position, which aligns to the PPRR 20/21 annual report. The indicative adjustments and savings were all agreed as part of the 2021/22 budget setting process. Partner Organisation Stranded Overhead Adjustment part year 60 Savings Proposal from 20/21; Reserves support reversal. (50) Adjustment to budget – resource and vacancy management plus additional waste income (70) The cash limit budget is illustrated in the table below illustrating gross expenditure and income to reflect the net cash limit budget: Employee Expenditure Non-Employee Expenditure Gross Expenditure Gross Income Net Cash limit Budget Employee Expenditure Non-Employee Expenditure Gross Expenditure Gross Income Net Cash limit Budget £000 £000 £000 £000 £000 Borough Leisure Facilities 19 640 659 0 659 Cemeteries and Crematoria 310 183 493 (963) (470) Climate Change 110 90 200 (200)* (0) Highways Maintenance 1,098 3,604 4,702 (1,380) 3,322 Housing Standards 299 8 307 (15) 292 Neighbourhoods 1,662 13,978 15,640 (960) 14,680 Public Protection 1,714 1008 2,722 (1,138) 1,584 Public Rights of Way 35 93 128 (29) 99 Road Safety 237 92 329 (264) 65 Strategic Housing 329 1,003 1,332 (1,332) (0) Street Lighting 0 3,481 3,481 (7) 3,474 Sustainable Policy 66 25 91 0 91 Traffic Services 610 257 867 (1,053) (186) Traffic Services (Parking) 704 1,527 2,231 (4,511) (2,280) *The £0.200m in the climate change income column is funded by a reserve and is not external income.
Budget Update. Expense Category Current Approved Recovery Act Budget (from workplan)* Recovery Act Costs Incurred This Quarter Recovery Act Costs Incurred To Date Total Recovery Act Funds Remaining Personnel Travel $5,000 Equipment Supplies $500 Contractual $191,000 Other $3,500 Total $200,000 Site Specific Budget Summary: Site Name Current Quarter Costs Cumulative Costs Incurred to Date
Budget Update. At 3:14 p.m., Xxx Xxxx, Assistant Commissioner for Finance and Administration, presented spreadsheets showing what the settlement agreement will cost over the length of the agreement, and that there were not changes since he last presented the information. Xx. Xxxx showed how actual expenditures for FY2013 compared to the budget. There were several areas where expenditures were significantly less than what was budgeted - facility transition waivers due to delays in discharges, the rental subsidy pilot as it is a multi-year effort and administration due to the data warehouse taking several years to roll out and DMAS not asking for reimbursement for administrative costs. • Xx. Xxxxxx stated it takes two weeks to administer the program. • Xx. Xxxxx indicated that it may be helpful to have more details on some of the budgetary items. Xx. Xxxx indicated that he would follow-up with Xx. Xxxxx.
Budget Update. The portfolio’s current cash limit budget approved at the Budget Council Meeting was set at £2.015m. The table below illustrates the budget adjustments from the 2020/21 Quarter 3 position, which aligns to the PPRR 20/21 annual report. The indicative adjustments and savings were all agreed as part of the 2021/22 budget setting process. Resource and vacancy management (50) The current cash limit budget is illustrated in the table below illustrating gross expenditure and income to reflect the net cash limit budget: Employee Expenditure Non-Employee Expenditure Gross Expenditure Gross Income Net Cash limit Budget £000 £000 £000 £000 £000 Building Control 438 62 500 (546) (46) Directorate 364 83 447 (493) (46) Economy Work & Skills (Growth)* 427 372 799 (215) 584 Feasibility 375 507 882 (882) 0 Head of Service Transport Capital 77 2 79 (79) 0 Employee Expenditure Non-Employee Expenditure Gross Expenditure Gross Income Net Cash limit Budget Head of Service Transport Strategy 118 75 193 (52) 141 Highways Design & Improvement 1,407 2,086 3,493 (3,119) 374 Markets 61 84 145 (41) 104 Planning 1,507 232 1,739 (1,218) 521 Program and Project Management 330 7 337 (337) 0 Town Centre Development 98 134 232 (74) 158 Transport Strategy 475 32 507 (282) 225 In 2020/21, the portfolio’s finances were severely impacted by Covid-19. For 2021/22 the Economy and Regeneration portfolio is estimated to outturn with a balanced position. This estimate assumes that this portfolio is recovers from the income losses related to Covid-19.
Budget Update. The portfolio’s current cash limit budget approved at the Budget Council Meeting was set at £44.511m. The table below illustrates the budget adjustments from the 2020/21 Q3 position, which aligns to the PPRR 20/21 annual report. The indicative adjustments and savings were all agreed as part of the 2021/22 budget setting process. Children & Family Services Education Total £000 £000 £000 Demand – External Placements 227 227 Demand – Internal Xxxxxx Care 1,015 1,015 Demand – SGO 75 75 Demand – Xxxxxx care establishment 367 367 Demand – Programme Lead for Improvement 77 77 Demand – Care Leaver HE Offer 129 129 Demand – COMMA Programme 138 138 Demand – Education Psychology Staffing - COVID 120 120 Inflation Commissioning Budgets 323 61 384 Agreed MTFP savings programme (92) (40) (132) Removal of 20/21 one off funding – Troubled Families (368) 0 (368) The current cash limit budget is presented in the table below illustrating gross expenditure and income to reflect the net cash limit budget: Service Employee Expenditure Non-Employee Expenditure Gross Expenditure Gross Income Net Cash limit Budget £000 £000 £000 £000 £000 Adoption Counts 3,664 1,029 4,693 (4,636) 58 Children with a Disability 478 1,605 2,084 0 2,084 Childrens Centres 42 122 164 (23) 141 Childrens Mental Health 000 000 000 0 346 Children's Public Health 23 5,327 5,349 (132) 5,217 Early Help Offer 4,311 650 4,961 (2,466) 2,495 External Placements 0 7,594 7,594 0 7,594 Internal Residential (Stockport Families First) 957 236 1,193 0 1,193 Leaving Care Services 632 466 1,098 0 1,098 Management and Other Services 717 288 1,005 (652) 353 Safeguarding & Workforce Development 1,207 64 1,271 (122) 1,150 Social Worker Teams 5,523 369 5,891 0 5,891 Stockport Families First 347 164 510 0 510 Stockport Fostering and Adoption 1,314 9,146 10,460 (30) 10,430 Transformation 10 0 10 0 10 Young People's Education Careers & Advice 1,152 108 1,260 (68) 1,192 Youth Offending Service 911 386 1,297 (818) 479 14 to 19 Services 323 34 357 0 357 Service Employee Expenditure Non-Employee Expenditure Gross Expenditure Gross Income Net Cash limit Budget DSG Recharges 0 0 0 (2,348) (2,348) Education Psychologists 720 43 763 (278) 485 Home to School Transport 0 545 545 (66) 479 Other Services 1,158 59 1,217 (15) 1,202 School Improvement 1,729 628 2,358 (2,523) (165) SEN Central Support Staff 619 44 663 0 663 SEN Transport 0 3,593 3,593 (345) 3,248 SEND Inspection MTFP 350 0 350 0 350
