Fund deficit definition

Fund deficit means the excess of liabilities, reserves, and contributions over its assets, as reflected by its books of account.
Fund deficit means the excess of liabilities, reserves, and contributions over its
Fund deficit means the excess of liabilities, reserves and contributions over fund assets, as reflected by a municipality's books of account;

Examples of Fund deficit in a sentence

  • These included: Methodology based on returns above the projected Consumer Price Index (CPI) Required rate of return on investments - CPI plus 2.0% for past service Required rate of return on investments - CPI plus 2.75% for future service Fund deficit recovery period reduced from 19 years at the 2013 valuation to 16 years Short term earnings growth – 2.0% per annum for four years Long term earnings growth – CPI plus 1.5% per annum.

  • These grants will need to be carried forward in an earmarked reserve, as they are required to fund the 2020/21 Collection Fund deficit which will impact on the revenue position in 2021/22.

  • The City plans to continue to charge City agencies premiums in excess of that needed to cover expected operating expenses, including claims paid and incurred, and thereby eliminate the accumulated Risk Management Fund deficit over the next ten years.

  • In effect, this amount will be that part of the budget requirement not financed by RSG and redistributed NDR, plus the Council's share of the Collection Fund deficit.

  • We have considered the effect of future contract sales on the existing Fund deficit.

  • The effect of the prior period adjustments on the results of the preceding period has no overall effect on the General Fund deficit brought forward.

  • This reserve will be used to offset the Collection Fund deficit when it is charged to the Council’s General Fund in 2021/22.

  • The main budget variances which reconcile the year end General Fund deficit are shown in the table below.

  • If the City had not issued substantial debt to reduce the cumulative fund balance over the prior ten years, the accumulated General Fund deficit would have been $936.8 million for Fiscal Year 2012.

  • The City was predicting a $270 million General Fund deficit for Fiscal Year 2012.


More Definitions of Fund deficit

Fund deficit means the amount by which the sum of incurred claims and administrative expenses exceeds the final premium for the fund year (for purposes of this definition of fund deficit, the definition of final premium shall include interest earned on all premium payments by all members and other earned and accrued income of the Group which shall accrue to the benefit of the Group).
Fund deficit means the excess of liabilities, reserves, and contributions
Fund deficit means the excess of liabilities, reserves, and contributions over itsassets, as reflected by its books of account.
Fund deficit means the excess of liabilities, reserves, and contributions over its 3518 assets, as reflected by its books of account. 3519 (17) "General Fund" means the fund used to account for all receipts, disbursements, 3520 assets, liabilities, reserves, fund balances, revenues, and expenditures not required to be 3521 accounted for in other funds. 3522 (18) "Interfund loan" means a loan of cash from one fund to another, subject to future 3523 repayment; but it does not constitute an expenditure or a use of retained earnings, fund balance, 3524 or unappropriated surplus of the lending fund. 3525 (19) "Last completed fiscal period" means the fiscal period next preceding the current 3526 period. 3527 (20) "Modified accrual basis of accounting" means a method under which expenditures 3528 other than accrued interest on general long-term debt are recorded at the time liabilities are 3529 incurred and revenues are recorded when they become measurable and available to finance 3530 expenditures of the current period. 3531 (21) "Municipal capital project" means the acquisition, construction, or improvement 3532 of capital assets that facilitate providing municipal service. 3533 (22) "Municipal service" means a service not provided on a countywide basis and not 3534 accounted for in an enterprise fund, and includes police patrol, fire protection, culinary or 3535 irrigation water retail service, water conservation, local parks, sewers, sewage treatment and 3536 disposal, cemeteries, garbage and refuse collection, street lighting, airports, planning and 3537 zoning, local streets and roads, curb, gutter, and sidewalk maintenance, and ambulance service. 3538 (23) "Retained earnings" means that part of the net earnings retained by an enterprise 3539 or internal service fund which is not segregated or reserved for any specific purpose. 3540 (24) "Special fund" means any fund other than the General Fund, such as those 3541 described in Section 17-36-6. 3542 (25) "Unappropriated surplus" means that part of a fund which is not appropriated for 3543 an ensuing budget period. 3544 (26) "Warrant" means an order in a specific amount drawn upon the treasurer by the 3545 auditor. 3546 Section 87. Section 17-36-39 is amended to read: 3547 17-36-39. Independent audits.

Related to Fund deficit

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • 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:

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2005-2 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2005-2 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2005-2 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2005-2 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2005-2 Liquidity Amount on such date and (b) the Series 2005-2 Required Liquidity Amount on such date.

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

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Class C Deficiency Amount is defined in Section 4.1(c).

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

  • Class X Notional Balance With respect to any Distribution Date (and the related Accrual Period) the aggregate principal balance of the regular interests in REMIC 3 as specified in the Preliminary Statement hereto.

  • Original Class A Non-PO Principal Balance The sum of the Original Principal Balances of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-R Certificates, as set forth in Section 11.06.

  • Unpaid Realized Loss Amount With respect to any Class of Subordinated Certificates and as to any Distribution Date, is the excess of (i) the Applied Realized Loss Amounts with respect to such Class over (ii) the sum of (a) all distributions in reduction of such Applied Realized Loss Amounts on all previous Distribution Dates, and (b) the amount by which the Class Certificate Balance of such Class has been increased due to the distribution of any Subsequent Recoveries on all previous Distribution Dates. Any amounts distributed to a Class of Subordinated Certificates in respect of any Unpaid Realized Loss Amount will not be applied to reduce the Class Certificate Balance of such Class.

  • Class C Unpaid Realized Loss Amount As of any Distribution Date, the excess of (1) the Class C Applied Realized Loss Amount over (2) the sum of (x) all distributions in reduction of the Class C Unpaid Realized Loss Amounts on all previous Distribution Dates and (y) all increases in the Certificate Principal Balance of such Class C Certificates pursuant to the last sentence of the definition of "Certificate Principal Balance."

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Class D Invested Amount means, as of a date, an amount (not less than zero) equal to (a) the initial Note Balance of the Class D Notes, minus (b) the aggregate amount of any principal payments made to the Noteholders of the Class D Notes before that date, minus (c) the cumulative amount of unreimbursed Investor Charge-Offs applied to reduce the Class D Invested Amount under Section 4.3 of the Indenture Supplement before that date, minus (d) the cumulative amount of unreimbursed Reallocated Principal Collections applied to reduce the Class D Invested Amount under Section 4.4 of the Indenture Supplement before that date.

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Class B Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • Aggregate Class B Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class B Notes as of such Distribution Date and (ii) the Class B Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Class A Floating Allocation means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Adjusted Investor Interest as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Investor Interest as of the close of business on such day; provided, however, that, with respect to the first Monthly Period, the Class A Floating Allocation shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Investor Interest and the denominator of which is the Initial Investor Interest.

  • Carryforward Interest With respect to any Distribution Date and each Class of Certificates (other than the Class X, Class P and Class R Certificates), the sum of (i) the amount, if any, by which (x) the sum of (A) Current Interest for such Class for the immediately preceding Distribution Date and (B) any unpaid Carryforward Interest for such Class from previous Distribution Dates exceeds (y) the amount distributed in respect of interest on such Class on such immediately preceding Distribution Date, and (ii) interest on such amount for the related Accrual Period at the applicable Certificate Interest Rate. Certificate: Any one of the certificates executed by the Trustee and authenticated by the Certificate Registrar in substantially the forms attached hereto as Exhibit A.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Original Class B-6 Principal Balance The Class B-6 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Class C Invested Amount means, as of a date, an amount (not less than zero) equal to (a) the initial Note Balance of the Class C Notes, minus (b) the aggregate amount of any principal payments made to the Noteholders of the Class C Notes before that date, minus (c) the cumulative amount of unreimbursed Investor Charge-Offs applied to reduce the Class C Invested Amount under Section 4.3 of the Indenture Supplement before that date, minus (d) the cumulative amount of unreimbursed Reallocated Principal Collections applied to reduce the Class C Invested Amount under Section 4.4 of the Indenture Supplement before that date.

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • Original Class B-4 Principal Balance The Class B-4 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Invested Amount less the Principal Funding Account Balance on such date of determination.