THE ANNUAL BUDGET Sample Clauses

THE ANNUAL BUDGET. 9.1 Redbridge in its role as the Accountable Body of Local London shall be the Lead Borough responsible for administering the Annual Budget. 9.2 Subject to the provisions of paragraph 9.3 each Local London Member will pay an Annual Contribution of £50k or such other sum as shall be agreed. Payments will be made on or before the 30 April in each year until termination of this Agreement. 9.3 The first Annual Contribution shall be payable within 30 days of the commencement of this Agreement. Such payment shall be the contribution payable to the Accountable Body. Annual payments thereafter shall be made payable to Accountable Body. 9.4 All agreed costs will be shared equally and be met from the Annual Budget. 9.5 Any underspends in any Financial Year will be carried forward unless all Local London Members agree to be reimbursed. Such agreement to be reached in accordance with paragraph 7.2 above. 9.6 Any overspends will be shared in equal parts and further equal contributions made by each of the Local London Members within 30 days of the overspend being determined by the out-turn report provided that such overspend has not arisen due to negligence, breach of this Agreement or authority being exceeded by any of the Local London Members. 9.7 In the event of any overspend or element of overspend caused by negligence, breach of this Agreement or authority being exceeded by any Local London Member to this Agreement, that Local London Member shall be solely responsible for the costs arising. 9.8 The Annual Contribution made under paragraph 9.2 may be increased in line with the rate of inflation in accordance with the annual percentage increase in the Consumer Price Index (CPI) provided a majority of the Local London Members agree. Any increase in excess of percentage increase in CPI shall require the written unanimous agreement of all Local London Members and approval in accordance with paragraph 7.2 above.
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THE ANNUAL BUDGET. 9.1 Enfield shall be the Lead Borough responsible for administering the Annual Budget. 9.2 Subject to the provisions of paragraph 9.3 each Party will pay an Annual Contribution, the sum of which shall be agreed in accordance with Annex D of the Protocol until termination of the Protocol and this Agreement such payments to be made on or before the 30 April in each year until termination of the Protocol and this Agreement. 9.3 The first Annual Contribution shall be payable within 30 days of the commencement of this Agreement. Such payment shall be the contribution payable from April 2015 to March 2016. Thereafter the payments particularised in paragraph 9.2 shall fall due. 9.4 All agreed costs will be shared equally and be met from the Annual Budget. 9.5 Any underspends in any Financial Year will be carried forward unless all Parties agree to be reimbursed. Such agreement to be reached in accordance with paragraph 7.2 above. 9.6 In the event of any overspend caused by negligence, breach of this Agreement or authority being exceeded by any Party to this Agreement, that Party shall be solely responsible for the costs arising.
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THE ANNUAL BUDGET. No later than the May meeting the Joint Operating Committee shall consider the budget for the subsequent fiscal year. The budget shall be adopted, by joint meeting or mail ballot, by two-thirds of the Member School Districts and by the affirmative vote of a majority of all the members of the Full Board, no later than the months of May and June. Said budget shall be subject to final approval by the Pennsylvania Department of Education.
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THE ANNUAL BUDGET 
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Related to THE ANNUAL BUDGET

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • Sick Leave Annual Cash Out ‌ Each January, employees are eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if: A. Their sick leave balance at the end of the previous calendar year exceeds four hundred and eighty (480) hours; B. The converted sick leave hours do not reduce their previous calendar year sick leave balance below four hundred and eighty (480) hours; and C. They notify their payroll office by January 31st that they would like to convert their sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.

  • Death of the Annuitant If the Annuitant is not an Owner and dies prior to the Annuity Date, Owner 1 will become the new Annuitant unless you designate otherwise. If any Owner is not an individual, we will treat the death of the Annuitant as the death of an Owner.

  • Payment for annual leave (a) Before going on annual leave, an employee will be paid the amount of wages they would have received for ordinary time worked had they not been on leave during that period. (b) At the election of the employee such payments may be paid in accordance with the usual pay day relevant to the period of leave being taken.

  • Cashing Out of Annual Leave (a) Paid Annual Leave must not be cashed out except in accordance with an agreement under clause 41.8. (b) Each cashing out of a particular amount of paid Annual Leave must be the subject of a separate agreement under clause 41.8. (c) The Employer and an Employee may agree in writing to the cashing out of a particular amount of accrued paid Annual Leave by the Employee. An agreement this clause must state: (i) the amount of Annual Leave to be cashed out and the payment to be made; and (ii) the date on which the payment is to be made. (d) An agreement under clause 41.8 must be signed by the Employer and Employee and, if the Employee is under 18 years of age, by the Employee’s parent or guardian. (e) The payment must not be less than the amount that would have been payable had the Employee taken the Annual Leave at the time the payment is made. (f) An agreement must not result in the Employee’s remaining accrued entitlement to paid Annual Leave being less than four (4) weeks. (g) The Employer must keep a copy of any agreement under clause 41.8 as an Employee record.