Deficit definition

Deficit means an excess of liabilities and reserves of a fund over its assets.

Deficit means total annual revenues minus total annual expenditures.

Deficit means a situation for any fund of a municipality in which, at the end of a fiscal year, total expenditures, including an accrued deficit, exceeded total revenues for the fiscal year, including any surplus carried forward.

Examples of Deficit in a sentence

• The parties to this agreement are aware of the provisions of Federal Deficit Reduction Act of 2005: Employee Education on False Claims Recovery and certify that they comply with Section 1902(a) of the Social Security Act.

• Immediately after giving effect to this Amendment and the transactions contemplated hereby, no Capital Coverage Deficit exists or shall exist under the RPA.

• If the Academy receives a gift or grant of money or financial support from an Educational Service Provider or other person or entity that does not require repayment by the Academy, and is not conditioned upon the actions or inactions of the Academy Board, then such gift or grant shall not constitute a financial borrowing or contribution for purposes of determining a Fund Balance Deficit.

More Definitions of Deficit

Deficit means a unit of measure generated when a

Deficit shall have the meaning set forth in Section 2.2 hereof.

Deficit means the occurrence when expenditures exceed revenues.

Deficit has the meaning given in Section 8.2(a).

Deficit means the net excess of expenditure over income;

Deficit means the amount by which actual Expenses exceeds the Event Fee.

Deficit means the aggregate amounts in USD in respect of each Fiscal Quarter since a Performance Fee last became due and payable, not including the Fiscal Quarter in respect of which a calculation is being made, by which the Benchmark Return for each such Fiscal Quarter exceeds the Return for that Fiscal Quarter (if any).