Earmarked Reserves Sample Clauses

Earmarked Reserves. The majority of earmarked reserves are held at a corporate level and services produce a business case to draw down funds, which is approved through Corporate Leadership Team and Members. This strategic approach is designed to provide financial resilience for the Council, ensure that Council reserves are used on an invest-to-save basis and to support Council priorities. The exceptions to this are ring-fenced reserves and the Directorate Flexibility Reserve. The reserve commitments shown are subject to change as part of the Council’s Reserves Policy update that will be reported to Corporate Resource Management and Governance Scrutiny Committee and Cabinet in August. Changes to the Reserve Commitments shown will be reported in the mid-year Portfolio Performance and Resources Report. Reserve Category Reserve Narration To be used for “Approved Use” £000 Corporate Reserves Third Party Monies Reserve Parks Bequest 45 Corporate Reserves Third Party Monies Reserve XX Xxxxx Bequest 79 Corporate Reserves Area Committee Reserves Delegated Budgets 566 Strategic Priority Reserve Capital Programme Investment Reserve Road Safety in Schools 100 Strategic Priority Reserve Infrastructure Investment Reserve Tree Programme 206 Corporate Reserves Legislative and Statutory Requirements Reserve Waste Campaign (18th months) carry forward 44 Strategic Priority Reserve Capital Programme Investment Reserve Pothole Repair Scheme Funding 573 Strategic Priority Reserve Infrastructure Investment Reserve War Memorials 7 Corporate Property Reserves Corporate Property Reserves Cheadle Pool Closure Loss of Income 44
Sample 1
AutoNDA by SimpleDocs
Earmarked Reserves. The majority of earmarked reserves are held at a corporate level and services produce a business case to draw down funds, which is approved through Corporate Leadership Team and Members. This strategic approach is designed to provide financial resilience for the council and to ensure that council reserves are used on an invest-to-save basis and to support council priorities. The exceptions to this are ring-fenced reserves and the Directorate Flexibility Reserve The reserve commitments shown are subject to change as part of the council’s Reserves Policy update that will be reported to Corporate Resource Management and Governance Scrutiny Committee in September 2021. Changes to the Reserve Commitments shown will be reported in the next Portfolio Performance and Resources Report. Directorate Reserve Directorate Flexibility Reserve - Place Stockport Economic Plan 100 Strategic Priority Reserve Capital Programme Investment Reserve Interchange 5,472 Strategic Priority Reserve Infrastructure Investment Reserve To part fund GM Full Fibre Network Programme (capital scheme) 345 Strategic Priority Reserve Capital Investment Reserve - Town Centre & District Schemes SEMMMS Refresh - feasibility/design - Change Here: Next Gen Metro 80 Strategic Priority Reserve Capital Investment Reserve - Town Centre & District Schemes Xxxx Mill 140 Strategic Priority Reserve Capital Investment Reserve - Town Centre & District Schemes Residential Design Guide 8 Strategic Priority Reserve Capital Investment Reserve - Town Centre & District Schemes Town Centre West - Greek Street Rail Bridge 17 Strategic Priority Reserve Capital Investment Reserve - Town Centre & District Schemes District Centres 51 Strategic Priority Reserve Capital Investment Reserve - Town Centre & District Schemes HS2 Growth Review 37 Strategic Priority Reserve Capital Investment Reserve - Merseyway Addlington Walk Schemes 3,820 Strategic Priority Reserve Capital Investment Reserve - Merseyway Refronting 294 Strategic Priority Reserve Capital Investment Reserve - Merseyway Mersey Square 204 Strategic Priority Reserve Capital Investment Reserve - Merseyway Merseyway Public Realm match funding 1,023 Total 11,591 Resource and vacancy management Green 50 50 The forecast suggests this will be achieved.
Sample 1
Earmarked Reserves. The majority of earmarked reserves are held at a corporate level and services produce a business case to draw down funds, which is approved through Corporate Leadership Team and Members. This strategic approach is designed to provide financial resilience for the council and to ensure that council reserves are used on an invest-to-save basis and to support council priorities. The exceptions to this are ring fenced reserves and the Directorate Flexibility Reserve. The reserve commitments shown are subject to change as part of the Council’s Reserves Policy update that will be reported to Cabinet in July and Corporate Resource Management and Governance Scrutiny Committee in September. Changes to the Reserve Commitments shown will be reported in the mid-year Portfolio Performance and Resources Report. Reserve Category Reserve Narration To be used for Reserve / Approved Use Balance £000 Planned / Approved use of Reserves £000 Balance of Reserve £000 Reserve Linked to Budget Transformation – Invest to Save Reserve EP Service Redesign 19 0 19 Strategic Priority Reserve Traded Service Reserve Ethnic Diversity Reserve 65 0 65 Strategic Priority Reserve Traded Service Reserve Music Services 97 0 97 Corporate Reserves Revenue Grant Reserve Young Apprenticeship Scheme 11 0 11 Corporate Reserves Transformation / Double Running Reserve Transport Review 108 108 0 Corporate Reserves Legislative and Statutory Requirements Reserve Funding remaining for serious case reviews - 79 0 79 Reserve Linked to Budget Children’s Reserve Additional RIO post in the MASSH to support demand pressures 18 18 0 Corporate Reserves Third Party Monies Reserve NW Partnership monies 262 0 262 Corporate Reserves Revenue Grant Reserve ASC SW Development Grant 8 8 0 Corporate Reserves Revenue Grant Reserve CYP SW Development Grant 14 14 0 Corporate Reserves Revenue Grant Reserve CYP ASYE Grant 39 39 0 Budget Resilience Reserve Children’s Reserve SGO Property Adaptations 26 26 0 Corporate Reserves Third Party Monies Reserve GM Scale and Spread Income, Werneth Pilot 296 296 0
Sample 1
Earmarked Reserves. Most earmarked reserves are held at a corporate level and services produce a business case to draw down funds, which is approved through Corporate Leadership Team and Members. This strategic approach is designed to provide financial resilience for the council and to ensure that council reserves are used on an invest-to-save basis and to support council priorities. The exceptions to this are ring fenced reserves and the Directorate Flexibility Reserve. The reserve commitments shown are subject to change as part of the council’s Reserves Policy update that will be reported to Corporate Resource Management and Governance Scrutiny Committee in September. Changes to the Reserve Commitments shown will be reported in the next Portfolio Performance and Resources Report. Corporate Reserves Third Party Monies Reserve Parks Bequest 44 Corporate Reserves Third Party Monies Reserve XX Xxxxx Bequest 79 Corporate Reserves Area Committee Reserves Delegated Budgets 334 Strategic Priority Reserve Infrastructure Investment Reserve Tree Programme 50 Strategic Priority Reserve Capital Programme Investment Reserve Pothole Repair Scheme Funding 484 Corporate Priority Reserves Corporate Property Reserve Marple/Cheadle Pool Closure Loss of Income 49 Reserve Linked to Budget Transformation – Invest to Save Reserve Specialist Support from leisure experts for the Leisure review. 110 Reserve Linked to Budget Transformation - Invest to Save Reserve Climate Change 101 Total 1,251 Adjustment to budget – resource and vacancy management plus additional commercial waste income. Green 70 70 The forecast suggests this will be achieved.
Sample 1Sample 2
Earmarked Reserves. Most earmarked reserves are held at a corporate level and services produce a business case to draw down funds, which is approved through Corporate Leadership Team and Members. This strategic approach is designed to provide financial resilience for the council and to ensure that council reserves are used on an invest-to-save basis and to support council priorities. The exceptions to this are ring fenced reserves and the Directorate Flexibility Reserve. The reserve commitments shown are subject to change as part of the council’s Reserves Policy update that will be reported in September to the Corporate Resource Management and Governance Scrutiny Committee, and Cabinet Changes to the Reserve Commitments shown will be reported in the mid-year Portfolio Performance and Resources Report. Strategic Priority Transformation – Invest to Save Stockport Local Fund 623
Sample 1
Earmarked Reserves. The majority of Earmarked Reserves are kept at a corporate level and services bid for the use of them. This strategic approach is designed to provide financial resilience for the Council. The exceptions to this are the Directorate Reserves and ring-fenced reserves. The Earmarked Reserves for the Economy and Regeneration Portfolio at the beginning of 2018/19 consists of the following: Reserve Category Reserve Narration To be used for Approved Use £000 Directorate Reserve Directorate Flexibility Reserve - Place F&B Sector Development Support 23 Directorate Reserve Directorate Flexibility Reserve - Place Town Centre Living Development Framework 69 Corporate Reserves Corporate Reserves Legislative and Statutory Requirements Reserve Development of a new Local Plan approved by the Executive 228 Corporate Reserves Capital Programme Investment Reserve Flood Investment 11 Reserve Linked to Budget Transformation - Invest to Save Reserve Markets Consultation 53 Reserve Linked to Budget Transformation - Invest to Save Reserve Regeneration Projects 26 Reserve Linked to Budget Transformation - Invest to Save Reserve HLF Bramall Hall 163 Strategic Priority Reserve Capital Programme Investment Reserve Interchange and College Feasibility 299 Strategic Priority Reserve Capital Programme Investment Reserve Walking & Cycling Projects 18 Strategic Priority Reserve Capital Programme Investment Reserve Stockport Place Marketing and Communications 75 Strategic Priority Reserve Capital Programme Investment Reserve Stockport Exchange Phase 3 97
Sample 1
Earmarked Reserves. The majority of earmarked reserves are held at a corporate level and services produce a business case to draw down funds, which is approved through Corporate Leadership Team and Members. This strategic approach is designed to provide financial resilience for the council and to ensure that council reserves are used on an invest-to-save basis and to support council priorities. The exceptions to this are ring fenced reserves and the Directorate Flexibility Reserve. The reserve commitments shown are subject to change as part of the council’s Reserves Policy update that have been reported to Cabinet in July and will be reported to Corporate Resource Management and Governance Scrutiny Committee in September. Changes to the Reserve Commitments shown will be reported in the mid-year Portfolio Performance and Resources Report. Directorate Reserve Directorate Flexibility Reserve - Place Development of a housing prospectus for ageing well 50 Directorate Reserve Directorate Flexibility Reserve - Place Marple Leisure Project 12 Corporate Reserves Third Party Monies Reserve Parks Bequest 44 Corporate Reserves Third Party Monies Reserve XX Xxxxx Bequest 79 Corporate Reserves Area Committee Reserves Delegated Budgets 403 Strategic Priority Reserve Infrastructure Investment Reserve Tree Programme 170 Strategic Priority Reserve Capital Programme Investment Reserve Pothole Repair Scheme Funding 487 Corporate Property Reserves Corporate Property Reserves Marple / Cheadle Pool Closure Loss of Income 49 Reserve Linked to Budget Transformation - Invest to Save Reserve Specialist support from leisure experts for the Leisure review 110 Reserve Linked to Budget Transformation - Invest to Save Reserve Climate Change 124 Total 1,528 Public Realm Offer (2019/20 and 2020/21 savings) 975 975 The forecast suggests this will be achieved. Life Leisure Offer 150 150 The management fee was reduced by £0.150m. The closure of leisure centres has overtaken this, but as things go back to normal the management fee should remain at the right level to achieve this saving. Various increases on Fees & Charges 155 100 Although demand may be down due to Covid-19, adjustment to fees and charges designed to achieve the saving have been or are taking place. There are some areas which have decided to delay increasing fees due to Covid-19 which may impact on the savings.
Sample 1
AutoNDA by SimpleDocs

Related to Earmarked Reserves

  • Management Accounts The Management Accounts have been prepared in accordance with the same accounting principles and practices adopted for the Accounts and show a fair view of the assets and liabilities of the Company as the Management Accounts Date.

  • Operating Accounts (a) Maintain all of Borrower’s Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent, which Control Agreement must be in such form and substances as is reasonably acceptable to Collateral Agent (it being agreed and understood that the Control Agreements that Collateral Agent is entering into with respect to Borrower’s Collateral Accounts maintained with Bank of America on the Effective Date are not in such form and substance as is not reasonably satisfactory to Collateral Agent). (b) Borrower shall provide Collateral Agent five (5) days’ prior written notice before Borrower or any of its Subsidiaries establishes any Collateral Account. In addition, for each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution at or with which such Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Collateral Agent’s Lien in such Collateral Account in accordance with the terms hereunder prior to the establishment of such Collateral Account, which Control Agreement must be in such form and substance as is reasonably satisfactory to Collateral Agent and may not be terminated without prior written consent of Collateral Agent. The provisions of the previous sentence and subsection (a) above shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Collateral Agent by Borrower as such in the Perfection Certificates and (ii) BofA Credit Card Account so long as such account is maintained exclusively for the purpose of securitizing Borrower’s Indebtedness described in clause (g) of the definition of Permitted Indebtedness and the balance in such account does not exceed Three Hundred One Thousand Dollars ($301,000.00). (c) Neither Borrower nor any of its Subsidiaries shall maintain any Collateral Accounts except Collateral Accounts maintained in accordance with Sections 6.6(a) and (b); provided, however, Borrower may continue to maintain its Collateral Accounts, set forth on the Perfection Certificates on the Effective Date, with Bank of America; provided, further, that Borrower shall close all of its Collateral Accounts maintained with Bank of America on the Effective Date (other than the BofA Credit Card Account) and deliver to Collateral Agent evidence (in such form and substance as is reasonably acceptable to Collateral Agent) of closure of all of such Collateral Accounts within thirty (30) days after the Effective Date.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Insurance Reserves Lender may require Grantor to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Grantor of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Grantor shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Grantor as they become due. Lender does not hold the reserve funds in trust for Grantor, and Lender is not the agent of Grantor for payment of the insurance premiums required to be paid by Grantor. The responsibility for the payment of premiums shall remain Grantor's sole responsibility.

  • Expense Account (a) The Trustee shall prior to the Closing Date establish a Securities Account with the Custodial Securities Intermediary which shall be designated as the “Expense Account” which shall be held in trust in the name of the Trustee for the benefit of the Secured Parties. The only permitted withdrawal from or application of funds on deposit in, or otherwise standing to the credit of, the Expense Account shall be to pay (on any day other than a Payment Date), accrued and unpaid Company Administrative Expenses (other than accrued and unpaid expenses and indemnities payable to the Loan Obligation Manager under the Loan Obligation Management Agreement); provided that the Trustee shall be entitled (but not required) without liability on its part, to refrain from making any such payment of a Company Administrative Expense on any day other than a Payment Date if, in its reasonable determination, taking into account the Priority of Payments, the payment of such amounts is likely to leave insufficient funds available to pay in full each of the items payable prior thereto in the Priority of Payments on the next succeeding Payment Date. On the Closing Date, Arbor Parent or its Affiliates shall deposit into the Expense Account an amount equal to U.S.$200,000. On or after the first Payment Date, any amount remaining in the Expense Account may, at the election of the Loan Obligation Manager be designated as Interest Proceeds. On the date on which all or substantially all of the Issuer’s assets have been sold or otherwise disposed of, the Issuer by Issuer Order executed by an Authorized Officer of the Loan Obligation Manager shall direct the Trustee to, and, upon receipt of such Issuer Order, the Trustee shall, transfer all amounts on deposit in the Expense Account to the Interest Collection Account for application pursuant to Section 11.1(a)(i) as Interest Proceeds. Xxxxxxx credited to the Expense Account may be applied on or prior to the Determination Date preceding the first Payment Date to pay amounts due in connection with the offering of the Notes. (b) On each Payment Date, the Loan Obligation Manager may designate Interest Proceeds (in an amount not to exceed U.S.$100,000 on such Payment Date) after application of amounts payable pursuant to clauses (1) through (10) of Section 11.1(a)(i) for deposit into the Expense Account. (c) The Trustee agrees to give the Issuer immediate notice if it becomes aware that the Expense Account or any funds on deposit therein, or otherwise to the credit of the Expense Account, shall become subject to any writ, order, judgment, warrant of attachment, execution or similar process. The Issuer shall not have any legal, equitable or beneficial interest in the Expense Account. The Expense Account shall remain at all times with the Corporate Trust Office or a financial institution having capital and surplus of at least U.S.$200,000,000 and a long-term debt rating at least equal to “Baa1” by Xxxxx’x and “AA (low)” by DBRS (or, if not rated by DBRS, an equivalent (or higher) rating by any two other NRSROs (which may include Xxxxx’x)). (d) The Loan Obligation Manager, on behalf of the Issuer, may direct the Trustee to, and upon such direction the Trustee shall, invest all funds in the Expense Account in Eligible Investments designated by the Loan Obligation Manager. All interest and other income from such investments shall be deposited in the Expense Account, any gain realized from such investments shall be credited to the Expense Account, and any loss resulting from such investments shall be charged to the Expense Account. The Trustee shall not in any way be held liable (except as a result of negligence, willful misconduct or bad faith) by reason of any insufficiency of such Expense Account resulting from any loss relating to any such investment, except with respect to investments in obligations of the Trustee or any Affiliate thereof. If the Trustee does not receive investment instructions from an Authorized Officer of the Loan Obligation Manager, the Trustee shall invest funds received in the Expense Account in Eligible Investments of the type described in clause (ii) of the definition thereto.

  • Required Reserve Amount So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants then outstanding (without regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no time shall the number of shares of Common Stock reserved pursuant to this Section 1(g) be reduced other than in connection with any exercise of Warrants or such other event covered by Section 2(c) below. The Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Warrants based on the number of shares of Common Stock issuable upon exercise of Warrants held by each holder thereof on the Issuance Date (without regard to any limitations on exercise) (the “Authorized Share Allocation”). In the event that a holder shall sell or otherwise transfer any of such holder’s Warrants, each transferee shall be allocated a pro rata portion of such holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to hold any Warrants shall be allocated to the remaining holders of Warrants, pro rata based on the number of shares of Common Stock issuable upon exercise of the Warrants then held by such holders thereof (without regard to any limitations on exercise).

  • Tax Reserves The Company has established on its books and records adequate reserves for all Taxes and for any liability for deferred income taxes in accordance with Adjusted GAAP.

  • Types of Cash Accounts Cash accounts opened on the books of the Custodian (Principal Accounts) shall be opened in the name of the Fund. Such accounts collectively shall be a deposit obligation of the Custodian and shall be subject to the terms of this Section 7 and the general liability provisions contained in Section 9. Cash accounts opened on the books of a Subcustodian may be opened in the name of the Fund or the Custodian or in the name of the Custodian for its customers generally (Agency Accounts). Such deposits shall be obligations of the Subcustodian and shall be treated as an Investment of the Fund. Accordingly, the Custodian shall be responsible for exercising reasonable care in the administration of such accounts but shall not be liable for their repayment in the event such Subcustodian, by reason of its bankruptcy, insolvency or otherwise, fails to make repayment.

  • Project Accounts The Grantee agrees to establish and maintain for the Project either a separate set of accounts or accounts within the framework of an established accounting system, in a manner consistent with 49 C.F.R. § 18.20, or 49 C.F.R. § 19.21, as amended, whichever is applicable.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Subaccount for the Class A( - ) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus any amount on deposit in the Accumulation Reserve Subaccount for the Class A( - ) Notes.]

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!