Final Capital and Operating Budget Sample Clauses

Final Capital and Operating Budget. The Committee shall adopt an annual operating and capital budget for the next fiscal year not later than forty-five (45) days prior to the earliest date on which the business session of the annual town meeting of any member town is to be held, but not later than April thirteenth (13), provided that said budget need not be adopted prior to that February first (1), provided, further, that the Superintendent may, with the approval of the majority of the member towns, submit said budget for approval following the notification of the annual local aid distribution, so-called [MGL, Ch. 71, Sec. 16 (m)]. Said budget to include debt and interest charges and any other current capital costs as separate items, and shall apportion the amounts necessary to be raised in order to meet the said budget in accordance with the provisions of Sections IV-D, IV-E, and IV-F. The amounts so apportioned for each member town shall, not later than the date specified by law in each fiscal year preceding the fiscal year to which said budget relates, be certified by the District Treasurer to the treasurers of the member towns, and each member town shall vote to appropriate the amounts so certified to it in accordance with Ch. 71, Sec. 16D. If the Committee votes to increase the District budget after the assessments have been approved by the member towns, the Committee shall notify the Board of Selectmen in each member town within seven (7) days and include a copy of the proposed amendment to the budget. No increase in the budget shall be effective until the expiration of forty-five (45) days after such notification during which time the Board of Selectmen of any member town may call and hold a town meeting for the purpose of expressing disapproval of the increase in the District budget, and if at such meeting a majority of the voters present and voting thereon express disapproval of the budget increase, such increase in the budget shall not be effective and the Committee may prepare another proposal for a budget increase. If the Committee votes to increase the assessments to the member town after the assessments have been approved by the member towns, the member towns must vote to approve this increase.
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Final Capital and Operating Budget. The Committee shall in each year on or before the date specified by law, but in no event later than the commencement of the first annual town meeting in a member town, adopt an annual capital and operating budget for the ensuing fiscal year, said budget to include debt and interest charges and any other current capital costs as separate items, and shall apportion the amounts necessary to be raised in order to meet the said budget in accordance with the provisions of subsections IV-D and IV-E. The amounts so apportioned for each member town shall, not later than the date specified by law in each fiscal year preceding the fiscal year to which said budget relates, be certified by the District Treasurer to the Treasurers of the member towns, and each town shall appropriate the amounts so certified to it. If the Committee votes to increase the Regional School District budget after the assessments have been appropriated by the member towns, the Committee shall notify the Board of Selectmen in each member town within seven (7) days. No increase in the budget shall be effective until the expiration of forty-five (45) days after such notification during which time the Board of Selectmen of any member town may call and hold a town meeting for the purpose of expressing disapproval of the increase in the Regional School District budget, and if at such meeting a majority of the voters present and voting thereon express disapproval of the budget increase, such increase in the budget shall not be effective and the Committee may prepare another proposal for a budget increase.
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Final Capital and Operating Budget. 28 29 The Committee shall adopt an annual operating and capital budget for the next 30 fiscal year not later than forty-five (45) days prior to the earliest date on which 31 the business session of the annual municipal meeting of any member 32 municipality is to be held, but not later than April thirteenth (13), provided that 33 said budget need not be adopted prior to that February first (1), provided, further, 34 that the Superintendent may, with the approval of the majority of the member 35 municipalities, submit said budget for approval following the notification of the 36 annual local aid distribution, so-called [MGL, Ch. 71, Sec. 16 (m)]. Said budget to 37 include debt and interest charges and any other current capital costs as separate 38 items, and shall apportion the amounts necessary to be raised in order to meet 39 the said budget in accordance with the provisions of Sections IV-D, IV-E, and IV-
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Related to Final Capital and Operating Budget

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget.

  • Annual Budget (a) The Company and its Subsidiaries shall be operated in accordance with an annual budget, as it may be annually updated from time to time pursuant to this Section 3 (the “Annual Budget”). The initial Annual Budget for the period beginning on the Effective Date and ending on December 31, 2018, including the related variances, is attached hereto as Schedule B-1 (the “Initial Annual Budget”). For each Fiscal Year thereafter, the Asset Manager shall be responsible for preparing and submitting to the Company Board for approval as a Major Decision in accordance with the terms of the Company LLC Agreement a proposed updated Annual Budget, including the related variances. The Annual Budget shall be prepared by the Asset Manager in accordance with the protocols (including the preparation of the back-up materials on the timetable set forth therein) set forth on Schedule B-2 hereto (the “Budget Development Protocols”). The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as the members of the Company Board appointed by the Preferred Partners in accordance with Section 4.3(c) of the Parent LP Agreement (the “Preferred Board Members”) may reasonably request. In connection with the review of a proposed Annual Budget, the Preferred Board Members may reasonably request additional information regarding the materials supporting the proposed Annual Budget or such other information as is necessary or desirable to enable review of such proposed Annual Budget, and the Asset Manager shall provide such requested information. The Preferred Board Members shall consent to or reject the proposed Annual Budget, or request additional information (as provided for above), within ten (10) Business Days following (i) receipt of such proposed Annual Budget or (ii) receipt of all additional information that is, in the determination of the Preferred Board Members, necessary or desirable to enable review of such proposed Annual Budget. The Asset Manager shall comply with the Budget Development Protocols regarding the Preliminary Budget for each Fiscal Year. The Annual Budget shall be prepared and submitted annually by the Asset Manager no later than December 10, 2018 for the next Fiscal Year and thereafter by December 10 of each year with respect to the following Fiscal Year. The Annual Budget for each Fiscal Year shall include use of the pre-funded reserve amounts as shown on Schedule B-3 hereto for the four Fiscal Quarters comprising such Fiscal Year. In connection with the submission of the Annual Budget, the Asset Manager shall also prepare and submit to the Company Board an annual business plan for Parent and its Subsidiaries, including a responsible five-year operations forecast, including the operating metrics set forth on Schedule B-4 hereto (the “Annual Plan”). The Preferred Board Members, or their designated representatives, shall be provided reasonable access to all information, data, reports, models and analyses relied on in developing the Annual Plan (including, for the avoidance of doubt, all financial and silvicultural assumptions, constraints, supporting stand level data, merchantable timber volumes, pre-merchantable acres by species and age class, and acres by land classification).

  • Budget 1. The Grantee budget for grant activities for the 2022 Summer Program and State fiscal year 2023 is $1,720,643. Any funds received under this grant will not be used to supplant funds normally budgeted for programs or service of the same or similar type.

  • Annual Budgets The School shall adopt a budget for each fiscal year, prior to the beginning of the fiscal year. The budget shall be in the Idaho Financial Accounting Reporting Management Systems (IFARMS) format and any other format as may be reasonably requested by the Authorizer.

  • Business Plan The Lenders shall have received a satisfactory business plan for fiscal years 1997 through 2002 and a satisfactory written analysis of the business and prospects of the Borrower and its Subsidiaries for the period from the Closing Date through December 31, 2002.

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Project Budget A Project Budget shall be prepared and maintained by Grantee. The Project Budget shall detail all costs for which the Grant will be used during each calendar month of the Term. The Project Budget must be approved in writing by the Project Monitor. Grantee shall carry out the Project and shall incur costs and make disbursements of funds provided hereunder by the Sponsor only in conformity with the Project Budget. The current approved Project Budget is contained in Attachment B. Said Project Budget may be revised from time to time, but no Project Budget or revision thereof shall be effective unless and until the same is approved in writing by Project Monitor. The funds granted under this Grant Contract cannot be used to supplant (replace) other existing funds.

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

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