FINANCIAL PERFORMANCE STANDARDS Sample Clauses

FINANCIAL PERFORMANCE STANDARDS. Goal 5: During each year of its charter contract term, the Charter School shall achieve all six of the following financial performance standards.
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FINANCIAL PERFORMANCE STANDARDS. Goal 4: During each year of its Charter term, the Charter School shall achieve all five of the following financial performance standards. a. Not be in default of loan or bond covenant(s) and not be delinquent with debt services payment; b. Achieve a Current Ratio (Working Capital Ratio) that is greater than 1.0 and one- year trend is positive; c. Possess a Debt to Asset Ratio that is less than 95 percent; d. Unrestricted Days Cash (Total Expenses/365) is greater than 45 days and the one- year trend is positive; e. Enrollment Variance equals less than 8 percent; f. Aggregate Three-Year Total Margin is positive and the most recent year Total Margin is positive or Aggregate Three-Year Margin is greater than -1.5 percent, the trend is positive for the last two years, and the most recent year Total Margin is positive; g. Debt Service Coverage Ratio is equal to or exceeds 1.0; h. The Charter School received and submitted to GaDOE by November 1 an annual independent audit with an opinion of the auditor regarding the accuracy of the Charter School’s accounting records, financial position, change in financial position, compliance with rules of various governing entities, including GAGAS (Generally Accepted Government Auditing Standards, i.e. the "Yellow Book") or, for those schools not yet converted to GAGAS, compliance with GAAP (Generally Accepted Accounting Principles) that includes: • An unmodified audit opinion; • An audit devoid of significant findings and conditions, material weaknesses, or significant internal control weaknesses; • An audit that does not include a going concern disclosure in the notes or an explanatory paragraph; and • No other adverse statement indicating noncompliance with applicable laws, rules, regulations, and provisions of the charter contract relating to financial management and oversight.

Related to FINANCIAL PERFORMANCE STANDARDS

  • Performance Standards The Contractor agrees to perform all tasks and provide deliverables as set forth in the Contract. The Department and the Customer will be entitled at all times, upon request, to be advised as to the status of work being done by the Contractor and of the details thereof.

  • Annual Performance Evaluation On either a fiscal year or calendar year basis, (consistently applied from year to year), the Bank shall conduct an annual evaluation of Executive’s performance. The annual performance evaluation proceedings shall be included in the minutes of the Board meeting that next follows such annual performance review.

  • Ongoing Performance Measures The Department intends to use performance-reporting tools in order to measure the performance of Contractor(s). These tools will include the Contractor Performance Survey (Exhibit H), to be completed by Customers on a quarterly basis. Such measures will allow the Department to better track Vendor performance through the term of the Contract(s) and ensure that Contractor(s) consistently provide quality services to the State and its Customers. The Department reserves the right to modify the Contractor Performance Survey document and introduce additional performance-reporting tools as they are developed, including online tools (e.g. tools within MFMP or on the Department's website).

  • Employee Performance Evaluations Any employee performance evaluation shall be prepared by the employee's supervisor who has the responsibility and authority to prepare such reports. Employee performance evaluation reports shall be discussed with the employee prior to finalization of each category of the report. An employee will receive an appointment with his/her department's reviewing officer to discuss the evaluation by signing the evaluation form in the space provided. Each department shall make a reasonable effort to ensure that the reviewing officer for this purpose has not been a party to the preparation of the evaluation. In no case shall the reviewing officer sign the evaluation form until a review has occurred. Any regular or special evaluation with a rating of "unsatisfactory" shall include plans for employee development. Except in cases of termination, release from probation, or leave of absence, employees who receive an unsatisfactory performance evaluation must receive a follow-up evaluation. The follow-up evaluation shall cover a period of time no greater than ninety (90) calendar days from the date of the final review of the initial unsatisfactory evaluation. An employee shall have the right to submit written comments regarding any evaluation and to have such comments included in his/her personnel file along with the evaluation.

  • Contractor Performance Evaluations The Contract Administrator will evaluate Contractor’s performance as often as the Contract Administrator deems necessary throughout the term of the contract. This evaluation will be based on criteria including the quality of goods or services, the timeliness of performance, and adherence to applicable laws, including prevailing wage and living wage. City will provide Contractors who receive an unsatisfactory rating with a copy of the evaluation and an opportunity to respond. City may consider final evaluations, including Contractor’s response, in evaluating future proposals and bids for contract award.

  • EMPLOYEE PERFORMANCE EVALUATION Purpose: To provide the policy and procedures for assessing employee performance and communicating the results of assessment to the employee and to others using assessment information in personnel decisions, and further to express the mutual commitment of the parties to the University’s values.

  • Annual Performance Review The Employee’s performance of his duties under this Agreement shall be reviewed by the Board of Directors or a committee of the Board of Directors at least annually and finalized within thirty (30) days of the receipt of the annual audited financial statements. The Board of Directors or a committee of the Board of Directors shall additionally review the base salary, bonus and benefits provided to the Employee under this Agreement and may, in their discretion, adjust the same, as outlined in Addendum B of this Agreement, provided, however, that Employee’s annual base salary shall not be less than the base salary set forth in Section 4(A) hereof.

  • Performance Standard The Department’s Grant Manager will review the documentation to verify that the deliverables have been completed as described above. Upon review and written acceptance by the Department’s Grant Manager, the Grantee may proceed with payment request submittal. Payment Request Schedule: The Grantee may submit a payment request for cost reimbursement no more frequently than monthly.

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