Modified Cash Basis definition

Modified Cash Basis means financial reporting on a GAAP accrual basis, except franchise territory sales and equipment sales will be recorded on a cash basis.
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Modified Cash Basis means including all cash basis accounting transactions for the year as they relate to Expenses and modifying those balances to include twelve (12) months of activity. Modified cash basis accounting differs from accrual basis accounting in that it attempts to account for one (1) year's activity as opposed to analyzing exact work dates and invoice dates to determine inclusion in a given year. Projected Expense Rate. As defined in Section 7 hereof.
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Modified Cash Basis as used in this section, means a rate or rates which, when applied to the projected sales of raw surface water during a given budget period from the Authority's raw water system and any water rights owned by the Authority as of the Effective Date, and any additional water supplies as may be incorporated therein, as provided in subsection (d) above, are sufficient in the reasonable discretion of the Board of Directors of the Authority to generate revenues adequate to pay or accrue the following costs and expenses, without return on investment or loss to the Authority: (i) the direct and indirect operating and maintenance expenses of or related or allocated to such system; (ii) the direct and indirect general and administrative expenses of the Authority related or allocated to such system; (iii) capital improvements to such system; (iv) debt service on any bonds, notes, or other obligations of the Authority issued for the benefit of such system, and any reasonably required reserve and replenishment fund obligations related to any such debt issuance; (v) reserves for, among other purposes, capital improvements, working capital and emergencies; (vi) depreciation on improvements, facilities, or other infrastructure and related appurtenances comprising such system; (vii) reserves to allow the Authority to locate, identify, develop, permit, or acquire the use or ownership of additional water supplies for any corporate purpose of the Authority; (viii) reserves and allowances for research and development of any project, program, system, facility, or service consistent with the Authority's powers, duties, responsibilities, or purposes; (ix) impacts to revenues or expenses related to or arising out of the effects of water conservation, drought contingency, or environmental quality measures or programs of the Authority or others; (x) awards, settlements, judgments, court and litigation costs, fines, permits, assessments, or other contingent liabilities; and (xi) any other costs or expenses, of a like or different nature, resulting from changes in applicable laws, rules, or regulatory requirements or from altered or unforeseen events or circumstances. Such rates may be established so as to apply to reasonable classifications of customers of the Authority's raw water system; provided, however, that except as provided in subsection (d) above, such rates shall not be based during the Contract Term on costs and expenses of particular components of such system or on geograp...
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Examples of Modified Cash Basis in a sentence

  • Modified Cash Basis of Accounting The modified cash basis of accounting is a comprehensive basis of accounting other than GAAP and is a modification of the pure cash basis of accounting.

  • Modified Cash Basis of Accounting The modified cash basis of accounting is a comprehensive basis of accounting other than GAAP, and is a modification of the pure cash basis of accounting.

  • The Statement of Activities – Modified Cash Basis reduces gross expenses (including depreciation) by related program revenues, operating, and capital grants.

  • Therefore, the parishes in the Diocese of Madison have a choice of using either the Accrual Basis as described above or the Modified Cash Basis, with modifications for investment income/loss, capitalization and depreciation of fixed assets, recognition of long term liability, and, only if they choose, A/P.

  • Modified Cash Basis – Modified cash based accounting is a melding of the cash basis and accrual basis.

  • The Bank does not mandate a format for annual financial statements, however, where a Borrower prepares financial statements on a modified cash basis, the Bank encourages the adoption of formats laid out in the International Public Sector Accounting Standards (IPSAS), and Financial Reporting under the Modified Cash Basis of Accounting, in order to monitor and fully reflect any non-cash transactions and payables.

  • If the omitted disclosures were included in the financial statement, they might influence the user's conclusions about the City's Summary of Changes in Fund Balances – Modified Cash Basis, Budgetary Comparison Schedule of General Fund – Modified Cash Basis, and Statement of Revenues, Expenses and Changes in Fund Balance of the Public Works Authority – Modified Cash Basis.

  • The government-wide Statement of Activities – Modified Cash Basis reports both the gross and net cost of each of the Village’s functions and business-type activities.

  • For the purposes of the proprietary fund Statement of Cash Flows – Modified Cash Basis, “cash and cash equivalents” includes all demand and savings accounts, and certificates of deposit or short-term investments with an original maturity of three months or less.

  • In the government-wide Statement of Net Position - Modified Cash Basis and Statement of Activities - Modified Cash Basis and the fund financial statements, governmental activities and business-type activities are presented using the modified cash basis of accounting.


More Definitions of Modified Cash Basis

Modified Cash Basis means the method of accounting used by the Company, pursuant to which (i) revenue is recognized primarily one (1) month in arrears, as invoiced (i.e. the month following delivery of service), (ii) cost of revenue is primarily recognized one month in arrears, as invoiced or paid, (iii) payroll expenses are recognized bimonthly for salaried employees and every two weeks for hourly employees, (iv) other operating expenses are generally recognized as paid, and (v) expense on credit cards are recognized as invoiced.
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Modified Cash Basis means the method of accounting used by the Company, pursuant to which (i) revenue is recognized primarily one (1) month in arrears, as invoiced (i.e. the month following delivery of service), (ii) cost of revenue is primarily recognized one month in arrears, as invoiced or paid, (iii) payroll expenses are recognized bimonthly for salaried employees and every two weeks for hourly employees,(iv) other operating expenses are generally recognized as paid, and (v) expense on credit cards are recognized as invoiced.
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Modified Cash Basis means an accounting framework which is essentially a cash basis of accounting where the financial statements are based on cash transactions and balances while more accrual-based information is required in the notes to the financial statements;
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Related to Modified Cash Basis

  • Consolidated Adjusted EBITDA means, for any period, an amount determined for Borrower and its Subsidiaries on a consolidated basis equal to Consolidated Net Income for such period, plus, (i) to the extent deducted in determining Consolidated Net Income for such period, the sum, without duplication of amounts for:

  • Modified adjusted gross income means “federal adjusted gross income”:

  • Adjusted EBITDA means, for the twelve (12) month period preceding the calculation date, for any Person, the sum of (a) Net Income, plus (b) to the extent deducted in determining Net Income, the sum, without duplication, of such Person’s (i) Interest Expense, (ii) income tax expense, including, without limitation, taxes paid or accrued based on income, profits or capital, including state, franchise and similar taxes and foreign withholding taxes, (iii) depreciation and amortization (including, without limitation, amortization of goodwill and other intangible assets), (iv) extraordinary losses and non-recurring non-cash charges and expenses, (v) all other non-cash charges, expenses and interest (including, without limitation, any non-cash losses in respect of Hedge Agreements, non-cash impairment charges, non-cash valuation charges for stock option grants or vesting of restricted stock awards or any other non-cash compensation charges, and losses from the early extinguishment of Indebtedness), (vi) non-recurring integration costs and expenses resulting from operational changes and improvements (including, without limitation, severance costs and business optimization expenses) and (vii) non-recurring charges and expenses, restructuring charges, transaction expenses (including, without limitation, transaction expenses incurred in connection with any merger or acquisition) and underwriters’ fees, and severance and retention payments in connection with any merger or acquisition, in each case for such period, less extraordinary gains and cash payments (not otherwise deducted in determining Net Income) made during such period with respect to non-cash charges that were added back in a prior period; provided, however, (A) with respect to any Person that became a Subsidiary of the Borrower, or was merged with or consolidated into the Borrower or any of its Subsidiaries, during such period, or any acquisition by the Borrower or any of its Subsidiaries of the assets of any Person during such period, “Adjusted EBITDA” shall, at the option of the Borrower in respect of any or all of the foregoing, also include the Adjusted EBITDA of such Person or attributable to such assets, as applicable, during such period as if such acquisition, merger or consolidation, including any concurrent transaction entered into by such Person or with respect to such assets as part of such acquisition, merger or consolidation, had occurred on the first day of such period and (B) with respect to any Person that has ceased to be a Subsidiary of the Borrower during such period, or any material assets of the Borrower or any of its Subsidiaries sold or otherwise disposed of by the Borrower or any of its Subsidiaries during such period, “Adjusted EBITDA” shall exclude the Adjusted EBITDA of such Person or attributable to such assets, as applicable, during such period as if such sale or disposition of such Subsidiary or such assets had occurred on the first day of such period.

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash and cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case held by the Parent and its Consolidated Subsidiaries.

  • Adjusted EBIT means, for any accounting period, net income (or net loss) of NAI and its Subsidiaries (determined on a consolidated basis), plus the amounts (if any) which, in the determination of net income (or net loss) for such period, have been deducted for (a) interest expense, (b) income tax expense (c) rent expense under leases of property, and (d) Permitted Non-Cash Charges.

  • Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;

  • Consolidated Cash Flow means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Pro Forma Adjusted EBITDA shall have the meaning assigned to such term in Section 3.05(a).

  • Net Cash Flow means the gross cash proceeds to the Company from all sources, less the portion thereof used to pay or establish reserves for Company expenses, debt payments (including payments on Member Loans), capital improvements, replacements and contingencies, all as determined by the Member.

  • Consolidated EBITDAR means, for any period, Consolidated EBITDA for such period plus, to the extent deducted in determining Consolidated EBITDA for such period, Consolidated Rental Expense.

  • Consolidated EBITDAX for any period means, without duplication, the Consolidated Net Income for such period, plus the following, without duplication and to the extent deducted (and not added back) in calculating such Consolidated Net Income:

  • Unrestricted Cash Amount means, as to any Person on any date of determination, the amount of (a) unrestricted Cash and Cash Equivalents of such Person whether or not held in an account pledged to the Collateral Agent and (b) Cash and Cash Equivalents of such Person restricted in favor of the Facilities (which may also include Cash and Cash Equivalents securing other Indebtedness secured by a Lien on any Collateral along with the Facilities), in each case as determined in accordance with GAAP; it being understood and agreed that proceeds subject to Escrow shall be deemed to constitute “restricted cash” for purposes of the Unrestricted Cash Amount.

  • LTM EBITDA means Consolidated EBITDA of the Company measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available, in each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio.”

  • Adjusted Consolidated EBITDA means, for any Computation Period, Consolidated EBITDA for such Computation Period adjusted by giving effect on a pro forma basis to Acquisitions and dispositions completed during such Computation Period.

  • Consolidated Excess Cash Flow means, for any period, an amount (if positive) equal to: (i) the sum, without duplication, of the amounts for such period of (a) Consolidated Adjusted EBITDA, plus (b) the Consolidated Working Capital Adjustment, minus (ii) the sum, without duplication, of the amounts for such period paid in cash from operating cash flow of (a) scheduled repayments of Indebtedness for borrowed money and scheduled repayments of obligations under Capital Leases (excluding any interest expense portion thereof), (b) Consolidated Capital Expenditures (net of any proceeds of (y) any related financings with respect to such expenditures and (z) any sales of assets used to finance such expenditures), (c) Consolidated Interest Expense, (d) provisions for current taxes based on income of Holdings and its Subsidiaries and payable in cash with respect to such period, (e) the aggregate amount of consideration to be paid in cash during such period for Permitted Acquisitions to the extent not financed (x) by incurring Indebtedness that, in accordance with GAAP, constitutes a long-term liability, (y) with the Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds of prepayment events described in Section 2.14 hereof or (z) with the proceeds from the issuance of Equity Interests, (f) the amount of any expenses related to severance costs, facility closure and related restructuring costs incurred in connection with the Acquisition and paid within 18 months of the Closing Date by any of Holdings, Borrower or its Subsidiaries which expenses are not otherwise deducted in calculating the Consolidated Net Income of Holdings, Borrower and its consolidated Subsidiaries as a result of the application of purchase accounting principles and (g) the amount of any costs, fees, expenses and one time payments made related to any Permitted Acquisition and paid within 18 months of the date of consummation of such Permitted Acquisition by any of Holdings, Borrower or its Subsidiaries which expenses are not otherwise deducted in calculating the Consolidated Net Income of Holdings, Borrower and its consolidated Subsidiaries.

  • Pro Forma EBITDA means, for any period, the Consolidated EBITDA of the Issuer and the Restricted Subsidiaries, provided that for the purposes of calculating Pro Forma EBITDA for such period, if, as of such date of determination:

  • Consolidated EBITDA means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period:

  • Adjusted Revenue means revenue less Digital Platform Fulfilment Revenue.