GENERAL OPERATIONS FUNDING Sample Clauses

GENERAL OPERATIONS FUNDING. (a) The Oversight Body’s General Operations budget allocations are: (i) subject to section 11.2(b), for the fiscal year 2015-2016 – $436,000; and (ii) thereafter, for each fiscal year until this Agreement is terminated in accordance with section 16.2, $650,000 in constant 2015 dollars, adjusted against the Consumer Price Index for Yellowknife published by Statistics Canada. (b) For the fiscal year 2015-2016, the Oversight Body’s funding allocation will be:‌ (i) $175,000 to cover fixed and start-up costs; plus (ii) subject to the conditions that follow, $261,000 in General Operations funding starting on October 1. This amount is contingent on, and will be adjusted downward pro rata until, either (i) the Oversight Body has hired an executive director; or (ii) the Oversight Body has leased and must make payments for its office space.