Common use of Operating Expenditures Clause in Contracts

Operating Expenditures. In order to assist in financing the operating costs of the project, the Department shall reimburse the Grantee for the lesser of the following when providing operating assistance: (1) The balance of unrecovered operating expenditures after deducting all farebox and other operating revenues, or (2) Up to the percentage specified in the Approved Project Budget of the allowable total operating expenditures which shall be determined by available funding.

Operating Expenditures. In order to assist in financing the operating costs of the project, the Department shall reimburse the Grantee Subrecipient for the lesser of the following when providing operating assistance: (1) i. The balance of unrecovered operating expenditures after deducting all farebox and other operating revenuesrevenue, or (2) Up to the ii. The percentage specified in the Approved Project Budget of the allowable total operating expenditures which shall be determined by available funding.