Responsibility Centers Sample Clauses
Responsibility Centers. MCFC is organized into responsibility centers (“RCs”) to facilitate the tracking and the allocation of expenses among the Subsidiaries. MCFC assesses a scheduled monthly reimbursement that includes compensation costs for the identified team members and certain other non-interest expenses. These costs and expenses will generally be described as directly allocated costs. The RCs subject to direct cost allocation include:
Responsibility Centers. MCFC is organized into responsibility centers (“RCs”) to facilitate the tracking and the allocation of expenses among the Subsidiaries. MCFC assesses a scheduled monthly reimbursement that includes compensation costs for the identified team members and certain other non-interest expenses. These costs and expenses will generally be described as directly allocated costs. The RCs subject to direct cost allocation include:
(i) Human Resources. Human Resources administers the payroll system, health insurance plans, performance appraisal system, incentive compensation plan, long-term incentive plan, team member relations, and training programs for the Parties. The allocation methodology used for their reimbursement is headcount. Human Resources expenses are generally directly related to the number of team members, thus this allocation method is deemed the most accurate and supportable.
(ii) Information Technology (IT). IT provides oversight of the Parties’ technology plans. This includes strategic planning, system standardization and information security, as well as management of the Subsidiaries’ IT managers. The expense reimbursement methodology is based on estimated costs incurred by the applicable Party.
(iii) Corporate Finance. Corporate Finance provides oversight of the budgeting and forecasting processes, investment portfolio management assistance, valuation analysis (including goodwill impairment), stock valuations, acquisition research, financial modeling and assistance with valuing transactions. The expense reimbursement methodology is based on estimated time spent and costs incurred by the applicable Party.
Responsibility Centers. Equalization funding received in 1996-97 and/or 1997-98 shall be used to first fund counselors and then fund Responsibility Centers as the funding is received and as negotiated by the District and the Association. The terms and conditions for the reinstatement of counselor services shall be negotiated by the District and the Association.