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 fund assets, as reflected by a municipality's books of account;

Fund deficit means the excess of liabilities, reserves, and contributions over its

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.

• 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 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.

• To the extent that mortality/morbidity is worse than that priced for, profitability of shareholder’s fund may be affected and may in a worst case scenario, lead to possible Risk Fund deficit.

• 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.

• This provision is not dependent on an Infrastructure Delivery Fund deficit at the end of the 10-year period.

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

• The balance on the account represents East Hampshire District Council’s share of the Collection Fund deficit carried forward.

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.