Budgets and Spending Sample Clauses

Budgets and Spending. A. On or before May 1 of each Contract Year (as defined in Paragraph 8.1), or on or before such other date as the parties may mutually agree in writing, the Charter School shall submit to the District its “Proposed Budget” for the upcoming fiscal school year, for District administrative review and approval prior to its adoption by the JRCS Board. The District shall approve the Proposed Budget unless it finds that it (i) fails to take into account the Contingency Reserve required by Paragraph 4.4 below (ii) is not accompanied by or include a Cash Flow Statement in a form reasonably acceptable to the District;