Underspend. In the event that expenditure from any Pooled Fund or Non Pooled Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year or where the expenditure in relation to an Individual Scheme is less than the agreed allocation to that particular Individual Scheme the Partners shall agree how the monies shall be spent, carried forward and/or returned to the Partners and the provisions of Schedule 3 shall apply. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners.
Underspend. For Programme(s) contracted on a Budgeted Cost basis:
(i) If the Producer shall have duly delivered the Programme(s) in accordance with the terms of this Agreement and Channel 4 shall be satisfied that the production and delivery of the Programme(s) below Budgeted Cost has not been achieved by unjustified reduction in the cost of any Budget item and has been delivered in accordance with the Editorial Specification and as envisaged prior to the production then the Producer shall be entitled to retain or be paid 100% of any excess of the Budgeted Cost over the aggregate cost of production of the Programme(s) as shown by the statement of the cost of production or accountant’s certificate to be delivered hereunder.
(ii) Notwithstanding the foregoing the proportion of the provision for contingencies provided by the Channel 4 Licence Fee included in the Budgeted Cost and any provision included in the approved Budget which as a result of a change in Channel 4's editorial requirements (any change to have been confirmed in writing by the parties) is not required during production or prior to Delivery shall not form part of the Budgeted Cost and accordingly any underspend falling within these provisions shall be returned to Channel 4.
(iii) For the avoidance of doubt the first call to fund any overspend is an underspend in another Budget area and any call on the contingency will (unless Channel 4 otherwise then in writing agrees) be made only if there are no available underspends in other Budget areas.
Underspend. In the event that expenditure from any Pooled Fund or Non Pooled Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year the Partners shall agree how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of any Performance Payment Arrangement.
Underspend. In the event that expenditure from any Pooled Fund or Non Pooled/Aligned Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year the Partners shall agree, by means of proposals recommended by the BCF Partnership Group for approval by the Joint Commissioning Board, how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of the Performance Payment Arrangement.
Underspend. (a) For Programme(s) contracted on a Budgeted Cost basis
(i) If the Producer shall have duly delivered the Programme(s) in accordance with the terms of this Agreement and Channel 4 shall be satisfied that the production and delivery of the Programme(s) below Budgeted Cost has not been achieved by unjustified reduction in the cost of any Budget item and has been delivered in accordance with the Editorial Specification and as envisaged prior to the production then the Producer shall be entitled to retain or be paid 100% of any excess of the Budgeted Cost over the aggregate cost of production of the Programme(s) as shown by the statement of the cost of production or accountant’s certificate to be delivered hereunder .
(ii) Notwithstanding the foregoing the proportion of the provision for contingencies provided by the Channel 4 Licence Fee included in the Budgeted Cost and any provision included in the approved Budget which as a result of a change in Channel 4's editorial requirements (any change to have been confirmed in writing by the parties) is not required during production or prior to Delivery shall not form part of the Budgeted Cost and accordingly any underspend falling within these provisions shall be returned to Channel 4.
(iii) For the avoidance of doubt the first call to fund any overspend is an underspend in another Budget area and any call on the contingency will (unless Channel 4 otherwise then in writing agrees) be made only if there are no available underspends in other Budget areas.
(b) For Programme(s) contracted on a Fixed Price basis (as set out in the Programme Specific Terms):
(i) Provided the Producer complies with the material terms of this Agreement the Producer shall be entitled to retain or be paid 100% of the Fixed Price.
(ii) Notwithstanding the foregoing the proportion of the provision for specific and/or general contingencies as specified and as provided by the Channel 4 Licence Fee and any provision included in the Fixed Price which as a result of a change in Channel 4's editorial requirements is not required during production or prior to Delivery shall not form part of the Fixed Price and accordingly any underspend falling within these provisions shall be returned to Channel 4.
Underspend. Where there is a forecast underspend in an element of the operational budget, the first priority for use of the forecast underspend shall be to offset any forecast overspend within the operational budget. If a total underspend remains to be forecast, the Integration Joint Board should forecast the retention of the underspend, except where material errors in the assumptions are made in the method to determine the payment for the function. In these circumstances the payment for this element should be recalculated using the revised assumptions.
Underspend. In the event that expenditure from any Pooled Fund or Non Pooled Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year or where the expenditure in relation to an Individual Scheme is less than the agreed allocation to that particular Individual Scheme the Partners shall agree how the monies shall be spent, carried forward and/or returned to the Partners and the provisions of Schedule 3 shall apply. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners. In the event that the Pooled Fund Manager identifies an actual or projected under spend the Pooled Fund Manager must ensure that the Partnership Board is informed as soon as reasonably possible and action agreed as appropriate by the Partnership Board.
Underspend. In the event that expenditure from any Pooled Fund or Non Pooled Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year, the surplus monies shall be retained by the Lead Commissioner unless otherwise decided by the Health and Wellbeing Board. Such arrangements shall be subject to the Law and the standing orders and standing financial instructions (or equivalent) of the Partners and the terms of the performance payment arrangement. (if any).
Underspend. In the event that expenditure from the Better Care Pooled Fund for any Individual Scheme for which Financial Contributions within the Better Care Pooled Fund are made in any Financial Year Is less than the aggregate value of the Financial Contributions made for that Financial Year the Partners shall agree how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of the Performance Payment Arrangement.
