Statutory Allocation definition

Statutory Allocation means funds provided by the Department to the Authority for the performance of statutory functions.
Sample 1Sample 2Sample 3

Examples of Statutory Allocation in a sentence

  • The ten percent (10%) Statutory Allocation to Local Government Councils from this amount is N629,971,231.54.

  • Thus, the Model Financial Memoranda for Local Government in Nigeria (1991) maintains that the Local Government is empowered by law to raise loan within Nigeria, of such amount from such sources, in such manner, upon such conditions and for such purposes in fulfillment of its lawful functions as the appropriate law may prescribe.Moreover, the major source of local government finance which falls within the fulcrum of this study is the "Statutory Allocation" from the Federal and State Governments.

  • When compared to the classical approach of one classifier trained on both sides (RHT+LHT), the proposed systemscored almost 10% higher.

  • However, due to a drop in the oil price from 69 dollars in 2018 to 64 dollars in 2019, the Statutory Allocation in 2019 also dropped to₦172,942,727,496.04 from ₦205,532,817,107.52 in 2018.

  • The ten percent (10%) Statutory Allocation to Local Government Councils from this amount is N1,055,755,394.47.

  • In the light of this, the vocabulary acquisition strategies adopted by the proficient students should be the optimal options for students to employ, especially the learning through reading strategy, which really can help learners to have ready access to word knowledge and be able to exploit and draw on it effectively in performing language-use tasks, thus to improve learners‟ overall language proficiency.

  • In the instance of an Exchange Rate shock, the Naira value of crude oil revenues would increase, meaning potential increase in Statutory Allocation to States which may offset some negative effects of the shock in nominal terms.

  • Axis TitleWhile being cautiously optimistic with regards to the projected receipts from Statutory Allocation, the global trend with respect to oil prices and stable production levels favored Nigeria in 2018, and by extension, the State Governments.

  • The contract forbids all forms of war whenever it is an instrument of national policy.

  • The examination of the accounts of Gwaram Local Government Council shows that, a sum of Two Billion, Five Hundred and Sixty Million, Seven Hundred and Eleven Thousand, Three Hundred and Eleven Naira only (N2, 560,711,311) was received as Statutory Allocation, Value Added Tax and other Incomes from the Federation Account.

Related to Statutory Allocation

  • Regulatory Allocations shall have the meaning set forth in Section 6.3.A(viii).

  • Capital Account Limitation has the meaning provided in Section 4.5(b) hereof.

  • Required Allocations means (a) any limitation imposed on any allocation of Net Losses or Net Termination Losses under Section 6.1(b) or 6.1(c)(ii) and (b) any allocation of an item of income, gain, loss or deduction pursuant to Section 6.1(d)(i), 6.1(d)(ii), 6.1(d)(iv), 6.1(d)(vii) or 6.1(d)(ix).

  • Allocations means any and all of the allocations described in Sections 1.3(a), 1.3(b), 1.3(c) and 1.3(d) hereof.

  • Utility Allowance means a monthly allowance, as provided by the local public housing authority or as otherwise allowed by HUD rules and the GLO rules, for utilities and services (excluding telephone services) to be paid by the tenant.

  • Precontribution Gain has the meaning set forth in subparagraph 4(c) of Exhibit B.

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are nonforfeitable when made, and which would be nonforfeitable regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Code Section 401(k)(2)(B) and the regulations thereunder.

  • PHARMACY ALLOWANCE means the lower of:

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.

  • Tax Allocations means the allocations set forth in paragraph 4 of Exhibit B.

  • Net Termination Gain means, for any taxable year, the sum, if positive, of all items of income, gain, loss or deduction recognized by the Partnership after the Liquidation Date. The items included in the determination of Net Termination Gain shall be determined in accordance with Section 5.5(b) and shall not include any items of income, gain or loss specially allocated under Section 6.1(d).

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Elective Contributions are amounts excludible from the Employee's gross income under Code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a Simplified Employee Pension, cafeteria plan or tax-sheltered annuity. The term "Compensation" does not include:

  • Annual Additions means the sum credited to a Participant's Accounts for any Limitation Year of (a) "employer" contributions, (b) Employee contributions (except as provided below), (c) Forfeitures, (d) amounts allocated to an individual medical benefit account, as defined in Code §415(l)(2), which is part of a pension or annuity plan maintained by the "employer," (e) amounts derived from contributions paid or accrued which are attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code §419A(d)(3)) under a welfare benefit fund (as defined in Code §419(e)) maintained by the "employer" and (f) allocations under a simplified employee pension. Except, however, the Compensation percentage limitation referred to in paragraph (e)(5)(ii) below shall not apply to: (1) any contribution for medical benefits (within the meaning of Code §419A(f)(2)) after separation from service which is otherwise treated as an "annual addition," or (2) any amount otherwise treated as an "annual addition" under Code §415(l)(1).

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Qualified Allocation Plan or “QAP” means this Qualified Allocation Plan, which was adopted by Board Action on October 17, 2012 and made effective as of January 1, 2013, and which was approved by the Governor of the State of New Mexico pursuant to Section 42(m)(1)(B) of the Code and sets forth the Project Selection Criteria and the preferences for Projects which will receive Tax Credits.

  • 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:

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Employer Contributions means the amount transferred by an employer to a funding account or a health reimbursement account.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • After-Tax Contributions means amounts withheld from an Employee’s Compensation pursuant to a Salary Reduction Agreement after all applicable state and federal taxes have been deducted. Such amounts are withheld for purposes of purchasing one or more of the Benefit Package Options available under the Plan.