Fiscal Year Reports. FFY 2017 Report (MPCA staff: Xxxxxxxxx Xxxxxxxxx, Xxxx Xxx, and Xxxx Xxxxxxxxxxx) Class 3 & 4 WQ Standards MPCA has made significant progress to update the sulfate water quality standard to protect wild rice. Due to increasing public interest, the MN legislature extended the timeline for completing the rulemaking to January 1, 2019 (1-year extension). In August 2017, MPCA published notice of intent to adopt new rules and administrative hearings commenced in October 2017. The rebuttal comment period closes December 1, 2017. After ALJ review, MPCA expects to adopt the rule and send to EPA for approval in 2018. While the extension of the sulfate water quality standards timeframe caused a delay in other portions of the Class 3 & 4 standards work, we have made some progress. The formal Request for Comments was published in February 2016. Planned changes to the Class 3 use include replacing numeric standards for the existing subclasses (3A–3D) with a single narrative standard. EPA provided initial comments on the use of a numeric interpretation of the narrative aquatic life standard - specifically regarding chloride. MPCA will schedule further discussions with EPA to better understand the comments and find a workable path forward on this issue.
Fiscal Year Reports. The Company’s fiscal year shall be the calendar year, unless changed by a Majority Vote of the Members. At least quarterly or more frequently if required by a Majority Vote of the Members, an unaudited statement of operations of the Company shall be prepared and submitted to the Members. If requested by a Member, the Company shall have an audit of its books made by a firm of public accountants as reasonably selected by a Majority Vote of the Members. The Managers shall have prepared at Company expense, the following documents: (i) within ninety (90) days following the end of the Company’s Fiscal Year, Internal Revenue Service Form K-1 or similar form as may be required by the Service stating the Member’s allocation of income, gain, loss or credit for the fiscal year (“Tax Statements”) (if and so long as the Company is taxed under Subchapter K of the Code); (ii) monthly management reports (to consist of an unaudited profit and loss statement, an unaudited statement of cash flows and an unaudited condensed balance sheet) (“Monthly Management Reports”); and (iii) financial statements (balance sheet, statement of profits or losses, Members’ equity, and changes in financial position) on an annual basis, which shall be prepared in accordance with GAAP and shall present fairly the financial condition and results of operations of the Company as of the end of and for the period covered thereby (“Financial Statements”). The Managers, at Company expense, shall cause to be prepared and timely filed with appropriate federal and statement regulatory and administrative bodies, all reports required to be filed with such entities under then-current applicable laws, rules and regulations. Such reports shall be prepared on the accounting or reporting basis required by such regulatory bodies. Any Member shall be provided with a copy of any such report upon request and without expense to such Member. The Managers shall cause all income tax information returns for the Company to be prepared and timely filed with the appropriate authorities.
Fiscal Year Reports. Within ninety (90) days after the ------------------- end of each fiscal year of MSD, the management of MSD, in consultation with the Board of Managers of MSD, shall prepare and submit, or cause to be prepared and submitted, to MST and the Budget Committee the following financial statements which will have been prepared in accordance with generally accepted accounting principles consistently applied (the "Annual ------ Financial Statements"): (a) a balance sheet of MSD as at the end -------------------- of such year; (b) a statement of income or loss of MSD for such year; and (c) a statement of cash flows of MSD for such year. Within 90 days after the end of each fiscal year of MSD, the management of MSD, in consultation with the Board of Managers, shall prepare and submit, or cause to be prepared and submitted to MST and the Budget Committee, a statement, which may be included in the Annual Financial Statements, showing the balances in each Member's Capital Account (as defined in the LLC Agreement).
Fiscal Year Reports. (a) The fiscal year of the Company shall be the fiscal year of Humko, as the same may be modified from time to time. Within sixty (60) days after the end of each fiscal year, the Company shall cause to be sent to each Member a complete accounting of the financial affairs of the Company for the fiscal year then ended, together with a balance sheet, statement of income and change in financial position (collectively referred to as the "Yearly Financial Statements"), all prepared in accordance with generally accepted accounting principles, consistently applied by the Company and consistent with the provisions of this Agreement and the Related Agreements.
Fiscal Year Reports
