Common use of Budgeting Clause in Contracts

Budgeting. Administrator shall collaborate with the Group and the Joint Planning Board in the preparation of all annual capital and operating budgets. These annual budgets shall be subject to the review, amendment and approval or disapproval of the Board of Directors of Parent or a committee designated by such Board of Directors. For purposes of developing the initial annual operating budget, the Joint Planning Board shall take into account the categories of expenses determined by Administrator and Joint Planning Board. The projected annual operating budget for each subsequent year shall be subject to the approval of the Joint Planning Board and shall reflect the Group's anticipated staffing requirements for the next fiscal year, as well as other anticipated expenses of the Practice. For purposes of developing the annual capital budget, the Joint Planning Board will include budgeted amounts for any anticipated expansion of existing facilities, acquisition of new facilities, acquisition or upgrades of equipment, any practice asset acquisitions, and any other anticipated capital expenses of the Practice.

Budgeting. Administrator shall collaborate with the Group and the Joint Planning Board in the preparation of all annual capital and operating budgets. These annual budgets shall be subject to the review, amendment and approval or disapproval of the Board of Directors of Parent or a committee designated by such Board of Directors. For purposes of developing the initial annual operating budget, the Joint Planning Board shall take into account the categories of expenses determined by Administrator and Joint Planning Board. The projected annual operating budget for each subsequent year shall be subject to the approval of the Joint Planning Board and shall reflect the Group's ’s anticipated staffing requirements for the next fiscal year, as well as other anticipated expenses of the Practice. For purposes of developing the annual capital budget, the Joint Planning Board will include budgeted amounts for any anticipated expansion of existing facilities, acquisition of new facilities, acquisition or upgrades of equipment, any practice asset acquisitions, and any other anticipated capital expenses of the Practice.