Financial Adjustments. No Member admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager may, at its discretion, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, in accordance with the Code.
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Directors may, at their option, at the time a Member is admitted, close the Company books (as though the Company’s tax year had ended) or make pro rata allocations of income, loss and expense deductions to a new Member for that portion of the Company’s tax year in which a Member was admitted in accordance with the provisions of Code Section 706(d) and the Regulations promulgated thereunder.
Financial Adjustments. In the case of decentralised management the national authorising officer, who bears in the first instance the responsibility for investigating irregularities, shall make the financial adjustments where irregularities or negligence are detected in operations or operational programmes, by cancelling all or part of the Community contribution to the operations or the operational programmes concerned. The national authorising officer shall take into account the nature and gravity of the irregularities and the financial loss to the Community contribution.
Financial Adjustments a. In the event of an employer or employee error which affects the calculation of an employee's net pay, the Board shall notify the employee and make the applicable adjustment to correct such errors.
b. Such adjustment will be retroactive from the earlier of:
i. the date the error occurred; or ii. one (1) year, prior to the employer or employee notifying the other of the error.
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Company shall, at its option, at the time a Member is admitted, do one of the following (i) close the Company's books (as though the Company's tax year had ended) or (ii) make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's tax year in which a Member was admitted in accordance with the provisions of Section 706 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder.
Financial Adjustments. 1. In the event of an employee or employer error in payment or deduction of salary, dues, or benefits, the Board shall adjust the payments of the employee to reflect the correct amount.
2. Such adjustment will be retroactive from:
a. One (1) year prior to the employee or employer notifying the other of the error, or b. The date the error occurred, whichever is shorter.
Financial Adjustments. To the extent that either Lessee or Lessor is allowed or is required to make financial adjustment payments at Return in light of the Aircraft and its Engines either failing to satisfy or exceeding Return Condition Requirements, the amount of such payments shall be determined as specified in Appendix H hereto.
Financial Adjustments. In the case of decentralised management the national authorising offi- cer, who bears in the first instance the responsibility for investigating irregularities, shall make the financial adjustments where irregulari- ties or negligence are detected in operations or operational program- mes, by cancelling all or part of the Community contribution to the operations or the operational programmes concerned. The national authorising officer shall take into account the nature and gravity of the irregularities and the financial loss to the Community contribution.
Financial Adjustments. Activity targets
(a) The Department will initiate a joint process with the HHS to determine whether a financial adjustment should be applied in relation to any purchased activity which has breached the thresholds identified bi-annually. This process will take into account any relevant matters that have been identified in a review/analysis of the breach as well as the outcomes of the activity plan implemented to address the activity breach.
(b) Activity will be monitored at the purchasing hierarchy level. Providing the HHS meets all relevant KPIs and specific funding allocations, the HHS has the ability to negotiate the transfer of activity across the purchasing hierarchy with the Department.
(c) Table 2 demonstrates the financial adjustment that will be applied when activity thresholds have been breached.
(d) The HHS may not utilise the provisions within AASB15 Revenue from Contracts with Customers to override the application of any financial adjustment made by the Department in line with Table 2. Over performance Activity exceeds that specified in the service agreement value for in- scope activity as shown in Table 4. Purchasing contracts are capped and an HHS will not be paid for additional activity with the exception of activity that is in scope for the identified purchasing incentives as set out in Table 3. Under performance Activity is below that specified for in-scope activity as shown in Table 4. Purchased activity and the related funding will be withdrawn at 100% of the Queensland Efficient Price and reallocated to an alternate provider that can undertake the activity. Refer to Table 4 for the HHS QWAU target. Failure to deliver on service commitments linked to specific funding allocations Specific funding allocations National Partnership Agreements. It is at the discretion of the Department to withdraw allocated funding pro rata to the level of under delivery. For all other types of activity variance, any financial adjustment will be made at the discretion of the Department.
Financial Adjustments. The National Authorising Officer, who bears in the first instance the responsibility for investigating irregularities, shall make the financial adjustments where irregularities or negligence are detected in the management and implementation of the programme or any operations or contracts financed under the programme. He/she shall do so by cancelling all or part of the Community contribution to the operations concerned or the programme. The National Authorising Officer shall take into account the nature and gravity of the irregularities and the financial loss to the Community contribution.
