Significant Variance definition

Significant Variance means an occurrence where the magnitude of the variance is such that the individual responsible for the expenditure would reasonably be expected to know the reason for the variance and take corrective measures. No absolute dollar value is provided to define significance because the significance of a variance is largely a matter of judgment;
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Significant Variance means, as applicable:
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Significant Variance occurs when there is an unforeseen change in revenue, including but not limited to: natural disasters, changes in state law affecting how California school districts are funded, including the collection of property taxes distributed to school districts, and/or changes to the amount of Local Revenues collected by the Parties.
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Examples of Significant Variance in a sentence

  • If there is a Significant Variance or a Significant Change in Per Pupil Funding for either Party, as defined above, then the JPA shall determine whether and/or how to adjust Section 5 and Section 6 of the Agreement based on the guiding principles that no student is harmed, considering the revenues identified in Exhibit D1 and/or D2.

  • There are two (2) such conditions identified by the Parties: Significant Variance and Significant Change in Per Pupil Funding.


More Definitions of Significant Variance

Significant Variance means a notable difference, or a repeat Minor Variance between the actual measure of the level of Service and the Performance Target which may lead to a material change in Costs or non-compliance with regulatory requirements.
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Related to Significant Variance

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • Significant Effect under clause 10.3 above includes termination of employment (including redundancy), major changes in the composition, operation or size of the Employer’s workforce or in the skills required, the elimination or diminution of job opportunities, promotion opportunities or job tenure; the alteration of hours of work; changes to safety and/or management systems, any changes to employment practices that result in privacy concerns for employees such as implementation of electronic inductions and/or access systems; the need for retraining or transfer of Employees to other work areas or locations and the restructuring of jobs.

  • Material Modifications means any modifications to the material related party transactions which were approved by the Audit Committee or Shareholders during the year which will change the complete nature of the transaction and in case of monetary thresholds which is in excess of 10% of the originally approved transaction, in case of exigencies only.

  • Variance means a grant of relief from the requirements of this chapter which permits construction in a manner that would otherwise be prohibited by this chapter.

  • Lead Member of the Bidding Consortium or “Lead Member” shall mean a company who commits at least twenty six percent (26%) equity stake in the Project, meets the technical requirement as per Clause 2.1.2 and so designated by other Member(s) in Bidding Consortium;

  • Significant tree means a tree: