Operations Account Sample Clauses
The Operations Account clause establishes a dedicated bank account used exclusively for managing the financial transactions related to the operation of a specific project or asset. Typically, all revenues generated and expenses incurred in connection with the operations are deposited into and paid from this account, ensuring a clear separation from other funds. This clause is essential for maintaining transparency, facilitating accurate accounting, and preventing the commingling of funds, thereby simplifying financial oversight and reporting for all parties involved.
Operations Account. (a) Payments in (i) EDC WGQ must ensure that, on each Waterfall Date, it will transfer the relevant amounts (if any) into the Operations Account (WGQ) pursuant to Clause 18.7(c)(ii).
Operations Account. The parties agree that an operations account for the lottery will be established at a bank in Phnom Penh with the account to be registered under the name of LUCKY WIN WIN CAMBODIA, INC. (LUCKY WIN WIN). It is agreed that this the sole purpose and use of the corporate name of LUCKY WIN WIN is to provide a vehicle by which funds collected from the sale of lottery tickets can be deposited and subsequently disbursed by WIN WIN. It is agreed too that the aforementioned lottery license will remain under the control of GOLDEN WIN WIN and will not be transferred to LUCKY WIN WIN. Disbursements from this operational account will only be effected by WIN WIN after providing GOLDEN WIN WIN with a full accounting of income and expenses prior to said distribution.
Operations Account. SMG shall deposit any funds derived from RAP’s Greek Theatre OPEN VENUE MODEL operations to the Operations Account. CITY’s staff will transfer funds from the Operations Account to the Disbursement Account as needed to pay for Greek Theatre operational expenses. SMG shall have no disbursement authority on the Operations Account.
Operations Account. − The balance as of September 30, 2022 was $175 thousand. CSCDA staff and League accounting personnel are available to respond to any questions the Commissioners may have about the attached FY 2022-23 Q1 financial reports. Issuance fees Qualified 501 (c)(3) 313,015 250,000 55,000 22.00% PACE 2,483,154 3,000,000 1,036,624 34.55% SCIP / ▇▇▇▇▇ ▇▇▇▇ 1,720,625 1,800,000 596,375 33.13% Other municipal bond programs 203,127 50,000 10,000 20.00% Investment income 959 0 3,315 Total issuance fees 5,611,699 5,600,000 1,820,063 32.50% Bond administrative fees Qualified 501 (c)(3) 1,626,085 1,500,000 274,781 18.32% SCIP / ▇▇▇▇▇ ▇▇▇▇ 691,728 725,000 389,683 53.75% Other municipal bond programs 153,140 75,000 31,639 42.19% Investment income (166,902) 0 (76,897) Total bond administrative fees 8,790,349 8,300,000 2,076,376 25.02% Total additions 14,402,047 13,900,000 3,896,439 28.03% Program management fees - BSP 2,826,521 2,746,000 880,057 32.05% Program governance fees - CSAC 1,392,109 1,427,000 468,345 32.82% Program governance fees - League 1,392,109 1,427,000 468,345 32.82% Total issuance 5,610,740 5,600,000 1,816,747 32.44% Bond administration Program administration fees - BSP 1,173,548 1,100,000 313,448 28.50% Compliance/portfolio monitoring fees - BSP 569,327 550,000 109,998 20.00% Prior administration fees - HB Capital 3,374,989 2,790,000 765,816 27.45% Program governance fees - CSAC 1,622,238 1,590,000 408,405 25.69% Program governance fees - League 1,622,238 1,590,000 408,405 25.69% Compliance fees - Urban Futures 184,750 175,000 47,407 27.09% Total bond administration 8,547,091 7,795,000 2,053,479 26.34% Subtotal Issuance & Bond Administration 14,157,831 13,395,000 3,870,226 28.89% Actual Budget YTD Variance 2021-22 2022-23 2022-23 2022-23 General administrative Executive Director 60,600 72,000 16,256 22.58% General Counsel - ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 108,964 125,000 35,505 28.40% Insurance 32,372 35,000 400 1.14% Board travel reimbursements 1,591 2,000 387 19.35% Issuer counsel - ▇▇▇▇▇▇ 75,000 100,000 50,000 50.00% Auditor - MUN CPAs 15,900 20,000 0 0.00% Other professional services 3,876 5,000 0 0.00% BSP municipal advisor fee 24,000 24,000 6,000 25.00% Bank service fees 4,725 7,000 1,575 22.50% Marketing and Sponsorships 52,564 50,000 10,000 20.00% Annual meeting 55,877 60,000 13,082 21.80% Other 40,108 5,000 757 15.14% Total general administrative 475,577 505,000 133,962 26.53% Total deductions 14,633,408 13,900,000 4,004,188 28.81% Net surplus (deficit) (231...
Operations Account. An “Operations Account,” the funds of which shall be used to pay the expenses incidental to the operation and maintenance of the Property, as set forth in this Agreement and as further requested by the Series Entity, including without limitation, payment of Manager’s compensation, mortgage expenses, personnel expenses, insurance, security deposits, taxes and leasing commissions payable by the Series Entity as provided for hereunder. Manager will maintain on deposit a minimum of one month of Property expenses. Manager shall keep security deposits received from tenants separate from the Operations Account in a “Security Deposit Account.”