Discretionary Reserve Fund definition

Discretionary Reserve Fund means reserve funds created at the discretion of Council whenever revenues are earmarked to finance future expenditures of a purpose designated by Council. Revenues set aside for acquisition of fixed assets is an example of discretionary reserve funds.

Discretionary Reserve Fund means Reserve funds created at the discretion of Council whenever revenues are earmarked to finance future expenditures of a purpose designated by Council.

Discretionary Reserve Fund means a reserve fund under the Municipal Act when Council wishes to earmark revenue to finance a future expenditure for which it has the authority to spend money, and to set aside a certain portion of any year’s revenues so that the funds are available as required.

Examples of Discretionary Reserve Fund in a sentence

• The funds are intended to fund a future liability.A report which recommends the establishment of a reserve fund must include the following:a) Statement of purpose;b) Rationale for the appropriate level to be maintained or targeted in the reserve;c) Initial contribution; andd) Contribution policy.A Discretionary Reserve Fund will be established through by-law.

• The amount to be transferred to the Discretionary Reserve Fund is determined by the equity owners at the meetings of these companies.

• Where, as a result of an error proved in the calculation or the preparation of the pay packet, an adjustment has to be made to the monies receivable by an employee, such adjustment shall be made, wherever practicable, on the same pay day.

• Amend Municipal Code Chapter 227 – Reserves and Reserve Funds – by adding the “Public Realm Reserve Fund” to Schedule No. 5 State of Good Repair Discretionary Reserve Fund; 4.

• Ultimately, 90% of the proceeds were placed into the Aurora Hydro Sale Investment Reserve Fund, with the remaining 10% placed into the Council Discretionary Reserve Fund.

• The smaller Council Discretionary Reserve Fund has fewer constraints The Council Discretionary Reserve Fund was formalized in 2012 by By-law 5440-12, included here as Attachment #1.

• All inter-fund lending/temporary borrowing shall be provided from Reserves and Discretionary Reserve Fund balances and the loaning of obligatory Reserve Funds is prohibited.

• Discretionary Reserve Fund: Monies set aside for a specific purpose by Council and legislated by municipal by-law.

• Discretionary Reserve Fund: While it is common practice for municipalities to hold library reserve funds, library boards have the authority to establish reserve funds under the Municipal Act.

• City Council amend Municipal Code Chapter 227 – Reserves and Reserve Funds – by adding the “Public Realm Reserve Fund” to Schedule No. 5 State of Good Repair Discretionary Reserve Fund.

More Definitions of Discretionary Reserve Fund

Discretionary Reserve Fund means a reserve fund created under the Municipal Act when Council wishes to earmark revenue to finance a future expenditure for which it has the authority to spend money, and to set aside a certain portion of any revenues so that the funds are available as required. The Capital Renewal Reserve Fund is a discretionary reserve fund.

Discretionary Reserve Fund means the discretionary reserve fund established and operated pursuant to this Policy