financial sustainability definition
financial sustainability means a capacity of a KIC to finance its knowledge triangle activities independently of contributions from the EIT.
financial sustainability means a capacity of a KIC to fund its knowledge triangle activities independently after the end date of the framework partnership agreement.
financial sustainability means a capacity of a KIC to finance its knowledge triangle activities
More Definitions of financial sustainability
financial sustainability means a capacity of a KIC to finance its knowledge triangle activities independently of contributions from the EIT, in accordance with Article 2(16) of the EIT Regulation (recast).
financial sustainability means meeting long term service and infrastructure levels and standards without unplanned increases in rates or disruptive cuts to services.
financial sustainability means a capacity of a KIC to fund its knowledge triangle activities independently after the end date of the framework partnership agreement. (13) ‘financial sustainability’ means the capacity of a KIC to finance most or all of its knowledge triangle activities, including a significant share of the costs of maintaining the ecosystem, independently and after the end date of the framework partnership agreement.
financial sustainability. CONSIDERATIONS: LEGAL CONSIDERATIONS: RECOMMENDED MOTION
financial sustainability. A long-term funding model that: provides stable, consistent funding for effective system planning and management; is fiscally prudent with due regard for the taxpayers of Toronto and Ontario; and, fairly divides financial obligations between the orders of government. The parties agree to undertake the following activities: Stage 1 –Evaluation of Potential Options/Models • The parties will identify a finite number of options to be assessed, in order to evaluate the best approach to address the objectives and principles as defined in this ToR. The options will include: - The proposed "upload" model, in which the Province would assume ownership of, and responsibility for, subway infrastructure from the City, including the building and maintenance of new and existing subway lines, while the responsibility for day-to-day operations, including labour relations, remains with the City. - Other options that consider the potential transfer of asset ownership from the City to the Province (e.g., the Province assumes ownership of, and responsibility for, new transit expansion projects only, etc.). - Options that do not consider the transfer of assets, but include a realignment of responsibilities (e.g., the Province assumes responsibility for the delivery of new transit expansion projects, etc.). • The Province recognizes that the City/TTC are undertaking multiple initiatives aimed at improving performance against shared objectives and commits to better understanding these in order to inform options. • The options to be defined will include (non-exhaustive) the following: - The scope and distribution between the parties of the assets under consideration; - The scope and distribution between the parties of the liabilities under consideration; - Functional roles and responsibilities (e.g., with respect to planning, delivery, operations, maintenance, etc.); and, - Funding responsibilities (e.g., state of good repair costs, operating costs, maintenance costs, capital costs, etc.). • The parties agree that the options will be evaluated based upon the following dimensions (non-exhaustive): - Achievement of objectives; - Financial and operational implications; - Risks and impacts; - Feasibility/implementation; - Governance implications; and, - Other considerations (i.e. City’s Guiding Principles). • In order to support the technical definition/details and the evaluation of the options the parties commit to an ongoing reciprocal sharing of data, information and documentation ...
financial sustainability. The careful management of funds and the 50% markup on wholesale prices have ensured the RDF's financial sustainability. This is also significantly Cheaper than the private retailers that have an average 300% mark up on the same drugs. • Enhanced Transparency: The use of triplicate receipt books and monthly audits has fostered transparency and accountability. Case study of RDF at Tellewoyan Memorial Hospital In December 2021, Tellewoyan Memorial Hospital, situated in Lofa County, Liberia, embarked on a transformative journey to enhance healthcare access for its community. The hospital initiated its Revolving Drug Fund (RDF), a vital component of its commitment to providing essential medications to its patients. This case study highlights the journey of Tellewoyan Memorial Hospital and the challenges faced and lessons learned in managing the RDF. Initiation and Approval The inception of the RDF at Tellewoyan Memorial Hospital was marked by a significant milestone— the approval of the project by the hospital's board. This approval was granted in December 2021, marking the formal beginning of the RDF initiative. Key Drivers and Team The RDF at Tellewoyan Memorial Hospital was primarily driven by the dedicated efforts of the facility's staff. Key individuals involved in this initiative included the Hospital Administrator, Medical Director, Accountant, and various facility staff members who were reassigned as cashiers to oversee the RDF's financial operations. Seed Capital and Drug Procurement To launch the RDF, a seed capital of US$20,000 was accumulated over the course of one year from the facility's allotment. This capital served as the foundation for procuring essential medications. Two wholesale vendors in Monrovia extended their support by providing drugs worth US$46,000, significantly bolstering the RDF's medication inventory. Diverse Revenue Sources In addition to selling RDF drugs, Tellewoyan Memorial Hospital diversified its revenue streams to ensure financial sustainability. This included charging a 500 Liberian Dollar (LRD) consultation fee, fixed charges for laboratory services, and bundled costs for surgical procedures. Financial Management and Fund Utilization The RDF funds are co-mingled with other hospital revenues and are strategically used to supplement delayed allotments, ensuring a continuous supply of medications. This approach has been critical in maintaining consistent healthcare services for the community. Operational Challenges While th...
financial sustainability means the degree to which a government can maintain its existing financial obligations both with respect to its service commitments to the public and financial commitments to creditors, employees, and others, without increasing the debt or tax burden relative to the economy in which it operates.