Common use of Fund Value Clause in Contracts

Fund Value. 19.6.6.1.4.1 There is five thousand dollars ($5,000) available in each year of the Agreement (July 1 – June 30) for the Fund. 19.6.6.1.4.2 To bring the benefit in line with the tax year, the Parties agree that the five thousand dollars ($5,000) referenced will be split as follows; two thousand five hundred dollars ($2,500) for the period July 1 to December 31, five thousand dollars ($5,000) annually for the period January 1 to December 31, and two thousand five hundred dollars ($2,500) for the period January 1 to June 30. 19.6.6.1.4.3 Funds remaining at the end of each period/year will be designated as surplus and retained within the Fund. On a period/annual basis the Parties shall review the total surplus amount and may either retain the surplus, or a portion thereof, in the Fund, or transfer the surplus, or a portion thereof, to the Medical Service Travel Fund referred to in Article 50.6.2(j) and any Memorandums of Understanding relating to Article 50.6.2(j).