Fund Balance Deficit definition

Fund Balance Deficit means the Academy has more liabilities than assets at the end of any given school fiscal year, and includes any fiscal year where the Academy would have had a budget deficit but for a financial borrowing by the Academy or a monetary contribution by an Educational Service Provider or other person or entity to the Academy. 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 or the Academy Board, then such gift or grant shall not constitute a financial borrowing or contribution for purposes of determining a Fund Balance Deficit.
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Fund Balance Deficit means the Academy has more liabilities than assets at the end of any given school fiscal year, and includes any fiscal year where the Academy would have had a budget deficit but for a financial borrowing by the Academy or a monetary contribution by an Educational Service Provider or other person or entity to the Academy. 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.
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Fund Balance Deficit means the excess of fund liabilities over fund assets of governmental funds utilizing the modified accrual basis of accounting, as determined by independent auditors and as rounded to the nearest five thousand dollars.
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Examples of Fund Balance Deficit in a sentence

  • 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.

  • Fund Balance Deficit Prohibition: Title 11, Section 17-211 of the Oklahoma Statutes prohibits the creation of a deficit fund balance in any individual fund (excluding public trusts).

  • For the Authority, fund balance with restrictions for the fiscal years ended June 30, 2021 and 2020 is noted below:June 30, Fund Balance (Deficit) without Restrictions As noted in Note 2 of significant accounting policies of the Authority, fund balance (deficit) without restrictions is limited to any non-debt related funds as of fiscal years ended June 30, 2021 and 2020 designated as fund balance (deficit) without restrictions on the balance sheets.

  • Fund Balance (Deficit) with Restrictions As noted in Note 2 of Significant accounting policies of the Company, the fund balance (deficit) with restrictions by the credit agreement as noted on the balance sheets.

  • At December 31, 2014, fund balance deficits were as follows: Capital Projects Fund Fund Balance Deficit Water Plant Improvements (10,530)East 9th resurfacing (36,193) The Winfield Recreation Improvements fund, Water Plant Improvements, and the East Ninth Resurfacing capital projects were created as part of the 2013 and 2014 temporary note issues.

  • For the Company, fund balance (deficit) with restrictions for the fiscal years ended June 30, 2020 and 2019 is noted below: June 30, Fund Balance (Deficit) Without Restrictions As noted in Note 2 of Significant accounting policies of the Company, fund balance (deficit) without restrictions is limited to any non-debt related funds as of fiscal years ended June 30, 2020 and 2019 designated as fund balance (deficit) without restrictions on the balance sheets.

  • Amounts included on the Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit), Budget and Actual, Budgetary Basis - General Fund (which are presented on a non-GAAP budgetary basis) are reconciled to unreserved fund balance of the Combined Balance Sheet within the other changes in unreserved fund balance section of that statement.

  • Individual funds with total fund deficits as of May 31, 2015 were as follows: Fund Deficit Unassigned Total Fund Balance (Deficit) Water Fund$ (320,271)$ (316,845)Capital Projects Fund(570,833)(570,833) The Water Fund deficit is due to major unanticipated repairs to the Village’s water distribution system.

  • Also, in the year an asset is acquired by capital lease in a governmental fund, the expenditure for the asset and the offsetting amount of the financing source are reflected in the Combined Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit).

  • The change in this balance demonstrated through a comparison of the actual revenues and expenditures for the year compared to budget follows: Opening, Unassigned Fund Balance (Deficit)$ (282,475)Revenues Under Budget(654,155)Expenditures Under Budget 706,460 Closing, Unassigned Fund Balance (Deficit) Opening, Unassigned Fund Balance (Deficit) $ (230,170) The $(282,475) shown in the table is the portion of the District’s June 30, 2019 fund balance that was considered unassigned.


More Definitions of Fund Balance Deficit

Fund Balance Deficit means the excess of fund liabilities over
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Fund Balance Deficit means the Academy has more liabilities than assets at the end of any given school fiscal year, and includes any fiscal year
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Related to Fund Balance Deficit

  • Balance Amount shall have the meaning set forth in Section 8.1 of this Agreement.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Asset Balance means, for any Payment Date, the Pool Balance as of the beginning of the current Collection Period.

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Specified Spread Account Balance means on the Closing Date, % of the sum of the Pool Balance as of the [Initial] Cutoff Date and on any Payment Date thereafter the lesser of, (a) % of the [sum of (i) the] Pool Balance as of the [Initial] Cutoff Date [plus (ii) the aggregate Contract Value of all Subsequent Receivables sold to the Trust as of their respective Cutoff Dates] and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) will be reduced to % on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B), (C) or (D); (B) if the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in [Month] 20XX or any Payment Date thereafter and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter, [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification.

  • Nominal Liquidation Amount Deficit means, for any tranche of notes, the Adjusted Outstanding Dollar Principal Amount minus the nominal liquidation amount of that tranche.