Sentences with phrase «annual operating surplus»
Under Roberts, the Detroit Public Schools has generated an annual operating surplus for the 2011 fiscal year, its first surplus since 2002; accelerated the elimination of its $ 327 million legacy deficit; and adopted a balanced budget for fiscal 2012.
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HBF Group nearly tripled its annual operating surplus to $ 73 million last financial year, up from $ 25 million previously.
Not exact matches
These annual surpluses are to balance the Operating Account, which posted a cumulative deficit of $ 8.6 billion at the end of 2011 - 12.
It should also be noted that annual surpluses in the Employment Insurance Operating Account contribute significantly to the surpluses forecast for 2015 - 16 to 2017 - 18.
In both 2014 - 15 and 2015 - 16, annual surpluses in the Employment Insurance Operating Account have reduced the deficits in those years by about $ 4 billion.
He cited an appropriation of $ 705,000 from a highway fund surplus, to help pay the annual operating expenses of the Highway Department next year.
Typically, these surpluses are used to build operating reserves of about 5 percent of a school's yearly budget, to insure against normal cash - flow needs, temporary revenue interruptions, or fluctuations in annual per - pupil funding levels.
(hh) If the unencumbered amount of cumulative surplus revenue from tuition held by a charter school at the end of a fiscal year, less (i) the amount of the fourth quarter tuition payment, (ii) the amount held in reserve for the purchase or renovation of an academic facility pursuant to a capital plan, and (iii) any reserve funds held as security for bank loans, exceeds 20 per cent of its operating budget and its budgeted capital costs for the succeeding fiscal year as is reported in a capital plan to be submitted in the school's most recent annual report, the amount in excess of said 20 per cent shall be returned by the charter school to the sending district or districts and the state in proportion to their share of tuition paid during the fiscal year.