Comparison Calculations Sample Clauses

Comparison Calculations. The base year shall be the 2014-2015 fiscal year. On an annual basis, the new recurring LCFF unrestricted revenues shall be adjusted by any changes in mandatory operating expenses outside the control of the District of more than the amount budgeted in the 2nd interim report or estimated actuals for the preceding fiscal year or by cuts in state or federal funding of categorical programs before the comparison calculations are made. Operating expenses or "Off-the-Top" expenditures include any increases above the prior year in object codes in the 4000, 5000, 6000 and 7000 categories funded from unrestricted funds as well as cover any prior year deficit or usage of one time dollars for recurring expenditures (including the transfer out to the Santa ▇▇▇▇▇ County Office of Education for Special Education services), increases in District contributions to District retiree CalPERS health costs (GASB 45), increases in unrestricted fund object code 8980 Contributions associated with restricted object codes 4000 to 7000, and any increase in mandatory increases in classified staff, including, but not limited to Special Educational Instructional Aides expenses in object codes 1000-3000. “Off-the-Top” expenditures may also include any mutually agreed to organization wide need. The unrestricted increased revenues, if any, remaining after the "Off-the-Top" expenditures are deducted from the new unrestricted revenues shall be available for revenue sharing compensation program calculations. Using the audited actual financial statements from the previous year and the County Controllers Estimate of Property Taxes (if District is Community Funded) as of December of the current year, year-to-year comparisons shall be made between the unrestricted revenues and expenses from the current year compared to the prior year. These comparisons shall be made in February; however, any resulting increase shall be retroactive to the beginning of the school year. Increases in Operating Expenses- Object Codes 4000 Materials and Supplies 5000 Other Operating Costs 6000 Capital Outlay >$5000 7000 Transfers Out Retiree CalPERS Health costs (GASB 45) up to age 65 Contributions to 898x Any annual increase in new recurring LCFF unrestricted revenues as defined above (at a ratio defined annually of particular cents for each dollar of new recurring unrestricted revenues) and/or any year-to-year increase or decrease in bargaining unit expenses, as defined above, resulting in these comparisons shall dete...
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Related to Comparison Calculations

  • Pro Forma Calculations (a) Notwithstanding anything to the contrary herein, financial ratios, tests and covenants, including the Leverage Ratio and the Fixed Charge Coverage Ratio shall be calculated in the manner prescribed by this Section 1.9. (b) For purposes of calculating any financial ratio, covenant or test, Specified Transactions (with any incurrence or repayment (excluding voluntary repayments) of any Debt in connection therewith to be subject to Section 1.9(c)) that have been made (i) during the applicable measurement period and (ii) subsequent to such period and prior to or simultaneously with the event for which the calculation of any such ratio is made shall be calculated on a pro forma basis assuming that all such Specified Transactions (and any increase or decrease in EBITDA and the component financial definitions used therein attributable to any Specified Transaction) had occurred on the first day of the applicable measurement period. If, since the beginning of any applicable period any Person that subsequently became a Subsidiary or was merged, amalgamated or consolidated with or into Borrower or any of its Subsidiaries since the beginning of such period shall have made any Specified Transaction that would have required adjustment pursuant to this Section 1.9, then such financial ratio or test shall be calculated to give pro forma effect thereto in accordance with this Section 1.9. (c) In the event that Borrower or any Subsidiary incurs (including by assumption or guarantees) or repays (including by redemption, repayment (other than voluntary repayments), retirement or extinguishment) any Debt included in the calculations of any financial ratio, covenant or test (in each case, other than Debt incurred or repaid under any revolving credit facility), (i) during the applicable period or (ii) subsequent to the end of the applicable period and prior to or simultaneously with the event for which the calculation of any such ratio is made, then such financial ratio or test shall be calculated giving pro forma effect to such incurrence or repayment of Debt, to the extent required, as if the same had occurred on the last day of the applicable period.

  • Interest Rates Payments and Calculations (a) Interest Rates. From the Effective Date, all Obligations charged to the Loan Account with respect to the Loans shall, subject to Section 2.5(c)(ii), bear interest payable in cash on the Outstanding Amount at a rate per annum equal to ABR plus the Applicable Margin and shall be payable in accordance with Section 2.5(c).

  • Proration of calculations If less than total program funding is subject to interest calculation procedures, the resulting interest liability calculations shall be prorated to 100% of program funding.

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

  • Calculation Any figure or percentage referred to in this Agreement shall be carried to seven decimal places.