Financial Sustainability. 6.5.1 Council is committed to being financially sustainable into the future. There is no single answer to achieving financial sustainability; however there are a number of options that Council is undertaking as part of its Council Plan. These include: the consolidation of assets increasing its submissions for Federal and State Government Grants a rigorous investigation of its fees and charges.
6.5.2 When considering employee terms and conditions, Council’s commitment to financial sustainability into the future is also carefully considered to ensure that Council can continue to offer employment to the Port Xxxxxxxx community.
Financial Sustainability. To improve the financial sustainability and capacity of the municipality, whilst adhering to statutory requirement
Financial Sustainability. The Ministry and the University recognize that financial sustainability and accountability are critical to achieving institutional mandates and realizing Ontario’s vision for the postsecondary education system. To this end, it is agreed that: It is the responsibility of the governing board and senior administrators of the University to identify, track, and address financial pressures and sustainability issues. At the same time, the Ministry has a financial stewardship role. The Ministry and the University agree to work collaboratively to achieve the common goal of financial sustainability and to ensure that Ontarians have access to a full range of affordable, high-quality postsecondary education options, now and in the future. The University remains accountable to the Ministry with respect to effective and efficient use of provincial government resources and student resources covered by policy directives of the Ministry, or decisions impacting upon these, to maximize the value and impact of investments made in the postsecondary education system.
Financial Sustainability. The financial status of the Entity threatened the operations and job security, with measures implemented to avert the realisation of the risk. The integration of the Entities has placed severe financial challenges by the former Sedibeng Water financial position. The cash reserves are at a low level which has been affecting the decision making and the roll out of budget requirements. The extended area of operation, from former Sedibeng Water, produced several financial sustainability challenges.
Financial Sustainability. Proper budgeting and funding of maintenance activities is the key to financial sustainability of the Regional Infrastructure Rehabilitation Project. Lack of maintenance on the Samtskhe- Javakheti Road has resulted in its current dilapidated state and need for major rehabilitation; therefore, regular maintenance and a proper drainage system will be critical to ensuring the long- term impact and realization of benefits from the Road Rehabilitation Activity. As a condition precedent to the first disbursement for the Road Rehabilitation Activity in any fiscal year, MCC will require that a minimum budget be approved for the maintenance of all maintainable national roads and that prior year budgeted amounts have been spent for the intended purpose. Similarly, the present condition of the Pipeline may be attributed, in large part, to the lack of maintenance over the last decade. The Pipeline rehabilitation and the satisfaction of the associated conditions are intended to improve the financial sustainability of GGIC through reduced losses, increased revenue and improved cash flow. To promote financial sustainability of GGIC, MCC requires that: (i) in view of GGIC’s outstanding tax liabilities, the Georgia Tax Restructuring Committee grant tax relief for past tax liabilities accrued through June 30, 2005 in the form of a fifteen year restructuring plan for such tax liabilities (including a five-year freeze and a ten-year payment period); and (ii) beginning in July 2007, the Georgian National Energy Regulatory Commission permits GGIC to withhold gas as payment in kind from its non-paying customers for transmission charges owed to GGIC, and GGIC will utilize this in-kind payment mechanism to the extent needed to ensure that collection rates (for all services provided) are at least 95% throughout the remainder of the Compact Term. A lack of attention to maintenance is also seen at the level of local infrastructure where municipalities have consistently been unable to fund maintenance. The Regional Infrastructure Development Activity is intended to improve the financial sustainability of regional and municipal assets through the condition that MCC Funding will be provided only once it is evident that the necessary operations and maintenance of proposed investments will be funded either through user fees or similar charges generated from the RID Project, by the applicable Eligible Government Entity or by the Government. Funding from MCC for the Regional Infrastructure R...
Financial Sustainability. In common with other incorporated Scottish further education colleges, Borders College was re-classified as a public body with effect from 01 April 2014. The government accounting framework means that we are expected to retain lower cash balances. The Board has considered the lowest balances appropriate to maintain liquidity risk at an acceptable level, ensuring that commitments are met as they fall due. Perhaps the most significant constraint is the inability of the College to generate and retain its own reserves against future capital investment. At 31 March 2014, the College donated cash-backed surpluses to the Scottish Colleges Foundation and, subsequently, to Borders Further Education Trust (BFET). We have since received commitment for almost all previous donations to be used for College projects. Most recently, such funding has supported a significant upgrade in the College’s ICT infrastructure. We will continue to manage our finances to ensure sustainability and support growth, innovation and flexibility and to allow resources to be deployed in as efficient and effective a manner as possible. We will, through this Outcome Agreement, ensure that Regional need is identified and recognised and will continue to press for funding levels appropriate to meet demand and sustain growth. The Board has taken steps to ensure that funds from SFC are used only for the purposes for which they have been given and to comply with the Financial Memorandum with the SFC and any other conditions that SFC may from time to time prescribe. No financial or governance challenges have been identified by the College or our external auditors.
Financial Sustainability. In accordance with the EIT Regulation, the EIT Strategic Innovation Agenda and the EIT Governing Board decision on the principles of KICs’ financial sustainability, the EIT will gradually reduce its funding rate for KIC added value activities, in order to ensure that the KIC increasingly finances its knowledge triangle activities independently of contributions from the EIT. The KIC must have a financial sustainability strategy including diversified revenue streams. The KIC should aim to maximise the share of the contributions that come from other public and private sectors. In accepting such contributions, the KIC must respect its Code of Conduct.
Financial Sustainability. In common with other incorporated Scottish further education colleges, Borders College was re-classified as a public body with effect from 01 April 2014. This had a major impact on financial and business planning and reporting, along with changes to accounting treatments to fit with Scottish and UK government requirements. The move to the government accounting framework impacted significantly on the College’s cash flows, with grant receipts now being profiled to match budgeted expenditure profiles, rather than in a fixed annual profile. This has significantly reduced the opportunities to the College in terms of investment of any funds received in advance; however, the College remains committed to achieving the maximum return on its funds, within agreed risk profiles. The College is expected to retain a much lower level of cash balances than previously expected under the SFC’s guidance on financial sustainability and significantly below that for a commercial organisation. This increases liquidity risk to the College. The Board has considered the lowest balances it feels are appropriate in ensuring that commitments are met as they fall due. Perhaps the most significant constraint is the inability of the College to generate and retain its own reserves against future capital investment. At 31 March 2014, the College donated cash-backed surpluses to the Scottish Colleges Foundation and, subsequently, to Borders Further Education Trust. It has since applied for and received commitment to almost all cash previously donated to be utilised against College projects. The College is not permitted to enter into a loan agreement on commercial terms. Combined with the inability to retain cash surpluses, this means that the College cannot support any substantial capital investment programme. Alongside other public bodies it must bid, via the SFC, to the Scottish Government for access to capital funding which is essential to bring our estate up to a good standard and invest in new technologies. The constraints on cash and reserves mean that, when compared to typical commercial organisations, the College’s balance sheet and accounting ratios may be judged as weak. However, because of the funding regime, they now actually have little relevance and the College has therefore ceased using them as a performance measure. Staff costs account for some 68% of College expenditure. With the introduction of national pay bargaining, the College recognises that it has significantly les...
Financial Sustainability. In consideration of mutual promises contained in this Agreement and the support provided by MANUFACTURING SASU detailed also under point 2, EIT MANUFACTURING PARTNER commits to making its best efforts to exploit the Results and agrees to pay the following fees:
a) EUR 10,000 for Services received during the Project, invoiced at the end date of the project,
b) Revenue Sharing Fee(s) during the Revenue Sharing Period, as defined below.
Financial Sustainability. The Recipient acknowledges that EIT Manufacturing has a financial sustainability strategy including diversified revenue streams. The Recipient commits to contribute to the financial sustainability strategy of the KIC. Therefore, the Recipient shall comply with its obligations regarding financial sustainability as further described in more details in the Call for proposals where the recipient might have participated and selected (if applicable) and/or the Services Agreement signed between the KIC LE and the Recipient.
