Household Budget Sample Clauses

Household Budget. Prior to opening a Prosperity Savings Account, the applicant must provide an accurate annual household budget which includes their savings goal amount. A blank budget with built in formulas is sent as an attachment with the email confirmation an applicant receives upon completing the application. It is important this information is complete and accurate. Application Review An application review will take place once the application is complete, and all the required documentation has been received from the applicant. The purpose of the application review is to: • Verify and review documentation and eligibility. • Review completed monthly household budget. • Identify any potential barriers to successfully completing the program and make appropriate recommendations. Application Approval Once the application packet has been reviewed an approval/denial decision will be made. A United Way of Frederick County representative will communicate the final decision to the applicant. If denied, the applicant will receive an email detailing the reason(s) why, along with any suggestions which may offer additional and alternative financial stability resources. If approved, the applicant will sign the approval paperwork needed to open their savings account. Opening Prosperity Savings Account Program at the Bank The saver must open their Prosperity Savings Account at the community bank location within 2 weeks of approval. The initial deposit to open an account is $200. Saver is required to make monthly deposits until the total amount of $3,000 is saved. The following procedures will be used if the saver fails to open the account within 2 weeks: • 3rd week after approval: Phone call to saver reminding them to open the account. • 4th week after approval: Phone call to remind saver to open the account. • 6th week after approval: Termination of application. The saver will have to reapply for the Prosperity Savings Account Program. Financial Education Training Each saver is required to complete all 6 sessions of the Budget Coach Program; to access the match funds. All savers must attend the following a First Time Homebuyer workshop and submit a copy of their certificate of completion: Department of Housing and Human Services xxxxx://xxx.xxxxxxxxxxxxxxxxx.xxx/FormCenter/FCAA-Forms-3/HOMEBUYERS-CLASS- UNIVERSAL-CLIENT-INTAKE-115 Requesting Funds for Qualified Asset Purchase As a general rule, savers should request qualified withdrawals a minimum of two weeks in advance of the date o...
Sample 1Sample 2See All (6)
AutoNDA by SimpleDocs

Related to Household Budget

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget.

  • Budget The System Agency allocated share by State Fiscal Year is as follows:

  • Annual Budget Prior to the date hereof, Borrower has submitted and Lender has approved an Annual Budget for the 2015 calendar year (the “Approved Initial Budget”). Borrower shall submit to Lender by November 1 of each year the Annual Budget relating to the Properties for the succeeding Fiscal Year. During the continuance of a Trigger Period, Lender shall have the right to approve each Annual Budget (which approval shall not be unreasonably conditioned, delayed or withheld so long as no Event of Default is continuing). An Annual Budget approved by Lender during a Trigger Period or any Annual Budget submitted prior to the commencement of a Trigger Period, shall each hereinafter be referred to as an “Approved Annual Budget”. In the event of a Transfer of any Property the Approved Annual Budget shall be reduced as reasonably determined by Lender in consultation with Borrower in order to reflect the removal of such Property and the Operating Expenses associated therewith; provided, further, that no such reduction shall be made in the event such Transfer is made in connection with a substitution under Section 2.4.3(a). If Lender has the right to approve an Annual Budget pursuant to this Section 6.8.3, neither Borrower nor Manager shall change or modify the Annual Budget that has been approved by Lender without the prior written consent of Lender (which consent shall not be unreasonably withheld, conditioned or delayed so long as no Event of Default is continuing). The “Monthly Budgeted Amount” for each Monthly Payment Date shall mean the monthly amount set forth in the Approved Annual Budget for Operating Expenses and Capital Expenditures for the Interest Period related to such Monthly Payment Date. If during any Trigger Period, Borrower has submitted an Annual Budget and such Annual Budget has not been approved prior to the commencement of the calendar year to which such budget relates then the previous Approved Annual Budget shall continue to be deemed to be the Approved Annual Budget for that calendar year, except that the line item for Capital Expenditures shall not exceed the Capital Expenditures set forth in the Approved Initial Budget.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!