Operating Reserve Fund. In accordance with OIC 594, in fiscal year 2015/16, BC Transit established a Reserve Fund to record, for each local government, the contributions that BC Transit has received but has not yet earned. a) BC Transit will invoice and collect on monthly Municipal invoices based on budgeted Eligible Expenses, as set out in Schedule C of the AOA. b) Any expenditure of monies from the Reserve Fund will only be credited towards Eligible Expenses for the location for which it was collected. These Eligible Expenses are comprised of the following costs of providing Public Passenger Transportation Systems, but exclude the costs of providing third-party 100%- funded services:
Appears in 4 contracts
Samples: Annual Operating Agreement, Annual Operating Agreement, Annual Operating Agreement
