Budget Variances definition

Budget Variances means actual expenditures for Budget line items that are not greater than 120% of what is projected in the Budget for such line item for each month during any Budget period, or 110% of what is projected on a cumulative basis for that portion of the Budget period then ended, provided total expenditures in the Budget may not be more than 110% of what is projected for any month, and receipts may not be less than 80% of what is projected in the Budget for such line item for each month during the Budget period, or less than 90% of what is projected on a cumulative basis for that portion of the Budget period then ended. For purposes of determining Budget Variances, unused expenditures for particular line item(s) shall carry forward to successive weekly Budget periods on a line-by-line basis.
Sample 1Sample 2Sample 3
Budget Variances has the meaning specified in Section 5.18 of the Agreement.
Sample 1Sample 2
Budget Variances. 1.1 (Definition of Approved Operating Expenses) “Capital Reserve Subaccount” - 3.4 “Cash Collateral Subaccount” - 3.8 “Cash Management Accounts” - 3.10 “Casualty” - 7.2.1 “Casualty/Condemnation Prepayment” - 2.3.2 “Casualty/Condemnation Subaccount” - 3.6 “Casualty Consultant” - 7.4.1(e) “Casualty Restoration” - 7.2.1 “Casualty Retainage” - 7.4.1(f) “Clearing Account” - 3.1
Sample 1

Examples of Budget Variances in a sentence

  • Budget Variances Detailed explanations have been provided by staff responsible for the income or expenditure where variations both favourable and unfavourable from the year to date budget set were considered to be significant, that is $10,000 or more.

  • Budget Variances: Positive variances indicate actual revenues exceed budget and actual expenses are lower than budget.

  • Use the proceeds of the Term Loans in accordance with the Budget (subject to Permitted Budget Variances) or for Specified Disbursements.

  • Subject to Permitted Budget Variances, the failure by the Borrower to utilize the proceeds of the Loan in accordance with the Approved Budget.

  • Material Cost Overruns and Budget Variances: Material cost overruns for any Procurement or Business Initiative that ultimately exceeds the applicable respective threshold shall be identified and addressed in a commercially prudent and reasonable manner, including providing information to the Board and/or Finance Committee consistent with the purposes of this Policy, including tracking and reporting material variances against C4HCO’s budget.

  • BUDGETS AND REPORTS 8 6.1 Budget 8 6.2 Reports 10 6.3 Budget Variances 10 6.4 Failure to Approve Budgets 11 Section 7.

  • The proceeds of the Loans shall be funded into the Escrow Account and thereafter disbursed to the Borrower for working capital and general corporate purposes and for the acquisition of income producing retail and mixed-use properties and related transactional expenses in accordance with the budget or payment schedule attached hereto as Exhibit A (the “Approved Budget”) (subject to Permitted Budget Variances).

  • Subject to the Budget Variances (defined below), the expenditures authorized in the Budget shall be adhered to on a period basis and a cumulative basis, provided, however, that unused expenditures shall carry forward to successive weekly budget periods on a line-by-line basis.

  • Budget Variances Commentary: Refer Note 6.1 for major variance explanations.

  • During the continuance of a Trigger Period, until such time that any Annual Budget has been approved by Lender, the then-current Approved Annual Budget with the Permitted Budget Variances therefrom shall apply for all purposes hereunder.

Related to Budget Variances

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Budget Year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Permitted Variance has the meaning given in Section 6.15.

  • Business Plan means the information required to be supplied to the

  • DIP Budget means a projected statement of sources and uses of cash for the Borrower and the Guarantors on a weekly basis for the following 13 calendar weeks. As used herein, “DIP Budget” shall initially refer to the initial 13-week projection delivered in accordance with Section 6.2 and thereafter shall refer to the most recent 13-week projection delivered by the Borrower in accordance with Section 9.1(c).

  • Budget month means the calendar month from which nonfinancial and financial information is used to determine eligibility (see section (28) of this rule) and benefit level for the payment month (see section (50) of this rule).

  • Budgets has the meaning set forth in Section 2.12(b).

  • Cluster development means a contiguous cluster or

  • Operating Plan means a plan adopted or amended under this section for the development, redevelopment, maintenance, operation and promotion of a business improvement district, including all of the following:

  • Budget Period means the fiscal period for which a budget is prepared.

  • Budget unit means the unit for which the ANB of a district is calculated separately pursuant to 20-9-311.

  • Development Budget has the meaning set forth in Section 3.1.

  • CapEx Budget means the annual budget for the Asset Entities taken as a whole covering the planned Capital Expenditures for the period covered by such budget. The CapEx Budget shall not include Capital Expenditures consisting of discretionary expenditures made to acquire fee or easement interests with respect to any Ground Lease Tower Site or Easement Tower Site, or non-recurring expenditures made to enhance the Operating Revenues of a Tower Site.

  • Baseline means the “Initial Small Business Lending Baseline” set forth on the Initial Supplemental Report (as defined in the Definitive Agreement), subject to adjustment pursuant to Section 3(a).

  • Operating Budget has the meaning given in Section 3.11(a).

  • Phase 1 means the phase of the ATP comprised of: (1) improvements to the State Street Substation; (2) construction of the Proposed Line; (3) the rebuilding of NYSEG’s existing Lines 971 and 000 xxxxx xx Xxxxxxxx Xxxx xx the NYSEG ROW to allow for construction of the Proposed Line as intended; (4) improvements to the Elbridge Substation to accept the Proposed Line; and (5) National Grid’s conveyance to NYSEG of the NYSEG Acquired ROW and such other land interests as contemplated by the Purchase and Sale Agreement.

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • Clinical peer means a physician or other health care professional who holds a non-restricted license in a state of the United States and in the same or similar specialty as typically manages the medical condition, procedure or treatment under review.

  • Annual Operating Budget as defined in Section 6.2(c).

  • Treatability study means a study in which a hazardous waste is subjected to a treatment process to determine: (1) Whether the waste is amenable to the treatment process, (2) what pretreatment (if any) is required, (3) the optimal process conditions needed to achieve the desired treatment, (4) the efficiency of a treatment process for a specific waste or wastes, or (5) the characteristics and volumes of residuals from a particular treatment process. Also included in this definition for the purpose of the § 261.4 (e) and (f) exemptions are liner compatibility, corrosion, and other material compatibility studies and toxicological and health effects studies. A “treatability study” is not a means to commercially treat or dispose of hazardous waste.

  • Forecast GDP means the average forecast for British Columbia’s real GDP growth made by the Economic Forecast Council and as reported in the annual February budget of the government;

  • Budget Act means an act containing appropriations which form a portion of the state's annual budget.

  • Annual Operating Plan has the meaning ascribed to it in Section 15.3(b)(i).

  • financial recovery plan means a plan prepared in terms of section 141 of the MFMA