Sentences with phrase «budget reserves of»

Samuels said that while the state has among the largest budget reserves of any state, at a projected $ 10.4 billion by the middle of next year, continued low oil prices mean legislators will face some tough decisions when they return to Austin in January.

Not exact matches

Budget 2015 left very little margin for error when it came to balancing the books, with a projected surplus of $ 1.4 billion plus an additional $ 1.0 billion as a contingency reserve, giving the federal government a $ 2.4 billion margin for error.

Even so, the business school was able to cover most of the additional expenses with its own reserves, except for about $ 2.5 million out of a total budget of $ 64 million.

With exploration budgets down, major oil companies will rely on acquisitions to replace up to half of their reserves, according to energy consultancy firm Wood Mackenzie.

Despite the unforeseen fall in oil prices in 2014, the Conservative government, with a lot of slight of hand (reduction in contingency reserve, selling GM shares at fire sale prices, optimistic economic and oil price assumptions), produced a budget that financed all of its pre-election promises, while still leaving a surplus of $ 1.4 billion in 2015 - 16 rising to $ 4.8 billion in 2019 - 20.

Any economic and fiscal update would have to take into account the worsening global economy, the decline in the price of oil (to below $ 40 a barrel) compared to the assumption in the budget, and the restoration of the contingency reserve to its normal level of $ 3 billion.

Third, because of the uncertain economic outlook, you are right to include a contingency reserve in your budget - planning forecast.

The PBO forecast, including a contingency reserve, shows a balanced budget in 2015 - 16, followed by deficits of $ 16.5 billion, $ 19.4 billion, $ 17.1 billion, and $ 14.2 billion in each of the following years.

Since Living Goods» overall budget is increasing, it also aims to raise an additional $ 3 million in reserves (about $ 2 million in 2015 and about $ 1 million in 2016).148 It expects to raise some funds from partnership consulting fees and margins on goods sold to CHPs, leaving about $ 10 million per year that would need to be supported by donor funding.149 In 2012 Living Goods raised $ 2.8 million, and in 2013 it raised $ 3.3 million from donors.150 Living Goods told us that it believes there is a decent chance it will reach two - thirds of its funding target for the first year through agreements with funders who have supported its work in the past, but the money has not yet been secured and the funding need will grow each year.151 The Children's Investment Fund Foundation (CIFF), one of Living Goods» major core funders historically, will be deciding in Q1 2015 whether to fund Living Goods» scale - up.

The Carbon Tracker Initiative, a nonprofit organization that studies carbon budgets, has warned that the remaining vast reserves of unburnable carbon will become stranded assets.

The group incentive nature of employee stock ownership and profit sharing makes this an effective way to create and reinforce a sense of common purpose, and to encourage higher commitment and productivity.23 It is also the case with ESOPs that the new ownership might not be viewed by the firm in the same way as other added compensation because the ownership is financed through loans to buy new capital as company stock, with Federal tax incentives, and the shares are not paid as normal wages and benefits out of company budget reserved for this purpose.

The budget plan contains an annual contingency reserve of $ 3 billion.

Together with an enhanced exploration budget of $ 125 - million, the objective of Beyond 20/20 is to maximise the net asset value of our existing mines and projects by continuing to grow low - cost gold production from our growing gold reserves,» Goldcorp president and CEO David Garofalo said in a statement.

A combination of reserve drawdowns and domestic debt are expected to continue funding Saudi's budget deficit, which bankers estimate will reach $ 100bn this year.

Mr. Chabot is fluent in French and English and has a wealth of experience in developing advanced - stage projects, including permitting, environmental management, project evaluation, operation start - up, reserve evaluation, mine planning, health and safety, and budget control.

The Diocese of Europe warned a reliance on reserve funds in the current budget «could not continue indefinitely» as it approved plans for greater contributions to help meet costs.

State Comptroller Tom DiNapoli gave NYC Mayor Bill de Blasio's budget proposal a thumbs up for the short term, saying he made appropriate use of higher than expected tax revenues to reduce out - year budget gaps and to replenish reserves.

«The question that we should ask is how can you inherit a budget deficit of 9.3 % of GDP, proceed to reduce taxes, bring down inflation, bring down interest rates, increase economic growth (from 3.6 % to 7.9 %), increase your international reserves, maintain relative exchange rate stability, reduce the debt to GDP ratio and the rate of debt accumulation, pay almost half of arrears inherited, stay current on obligations to statutory funds, restore teacher and nursing training allowances, double the capitation grant, implement free senior high school education and yet still be able to reduce the fiscal deficit from 9.3 % to an estimated 5.6 % of GDP?

The fuel exports form around half of the federal budget, and Russia has a limited amount of fiscal reserves; so cutting that trade may make it unable to pay it's internal commitments and cause internal instability.

The draft audit notes that the city's goal had been to maintain an unrestricted fund balance (sometimes referred to as a reserve fund) of 5 percent of its total general fund budget.

To reduce administrative costs, control reserve levels, and improve management practices, the Citizens Budget Commission recommends that the Office of the NYC Comptroller increase its oversight of union - administered benefit funds through the following actions:

Last year, the city only took from reserves about 88 percent of what Miner budgeted.

The comptroller said some of the potential budget gap could have been avoided if Cuomo's budget department had been «more aggressive» in putting more money in reserve funds to provide for unforeseen future events.

Will he also tell us whether those costs will be funded from the Ministry of Defence budget or drawn from the Treasury reserve?»

Before Trump's budget outline and the proposed American Health Care Act (Trumpcare), the preliminary City budget looked reasonable: Manageable budget gaps, reasonable reserves and moderate revenue growth in the context of slower job growth with wage and income growth improving.

Complaining about the lack of an immediate answer to the budget question, Mr Balls said: «It is about Treasury spending from the reserve, and it has a direct bearing on the national debt as well as on our national interests.

Here's state Comptroller Tom DiNapoli praising Gov. Andrew Cuomo for giving a «tremendously effective» budget presentation, while at the same time reserving judgement on the content of his proposal until he sees the details.

His budget closed a projected $ 4.6 billion deficit with $ 1.8 billion of spending cuts, $ 1.5 billion in additional revenue from increased taxes and fees and $ 1.3 billion of one time transfers, and did not tap into the state's $ 1.2 billion of reserves or increase the top income tax rate on those earning $ 1 million or more.

(The latter of which would «eclipse the surplus along with the funds set aside in the retiree health benefits trust and the budget's general reserve.»)

The budget includes reserves of about $ 750 million a year through the out years of the financial plan.

Buffalo Comptroller Mark Schroeder speaks Tuesday in City Hall, warning of tough financial times ahead for the municipal government if it doesn't curb its habit of closing budget gaps by using reserve funds.

Such capital budget shall indicate debt service charges of previous projects, proposed down payments and other expenditures for new projects, and the recommended sources of all proposed capital financing including, but not limited to, capital reserve fund, sinking funds, current revenues, temporary borrowing, bond sales, federal and state grants, loans or advances.

Buffalo's fiscal watchdog says the city needs to get out of its longtime habit of taking money from reserves to close out budget deficits.

The modification of WCB assessment criteria will eliminate the requirement for the State Insurance Fund to hold reserves for assessments; as a result, the Executive Budget proposes to direct SIF to release $ 1.75 billion in reserves to the state to support its capital plan over the next four fiscal years.

Benjamin Barnes, secretary of the Office of Policy and Management, warned that the rainy day fund — known as the «budget reserve fund» — will have to be used to pay down the deficit unless the legislature acts to reduce spending.

«It's a new administration and leaving it with $ 1 million in unreserved reserve funds with a $ 3 billion budget is kind of risky,» Kopel said.

They accounted for the $ 13.6 billion cost of all the contracts by adding funds to the existing labor reserve in the budget, spending $ 1 billion from a separate account known as the «health stabilization fund» and forcing unions to come up with $ 3.4 billion worth of health care savings through FY2018.

So when one line within that budget is found to have a surplus of nearly $ 140 million — even though it's a fund reserved for county residents» most valuable resource — borrowing from it with the explicit agreement that it will be paid back beats plugging a hole with debt payments, plus interest.

The nation's external reserves reduced by $ 6.7 bn within a period of 21 months, the Minister of Budget and National Planning, Senator Udo Udoma, said on March 23.

He made news recently by raising concerns about City Hall's budgeting practices, which have involved the use of reserve funds the past three years to balance the books.

Herman Farrell, the head of the Assembly Ways and Means Committee, said last week during passage of one of the budget bills that the state dipped into reserves in the amount of $ 2 billion to balance the coming year's budget.

De Blasio and the NYC Council agreed on an $ 82.1 billion budget for New York City that adds tens of millions in new spending for initiatives, including summer jobs for youths, after - school programs and reserve funds to help the city weather an economic downturn.

But the school boards association also notes that 99 percent of the districts had to tap into their reserve funds, rainy day funds, in order to cover budget gaps.

Initial trends of districts appropriating greater portions of their reserves to balance budgets immediately following the implementation of the tax cap have started to subside and districts are generally able to balance operations without tax - cap overrides.

Mr. Russell's proposal, which Town Board members will now review and amend, if they so choose, features the use of $ 2.4 million in reserves to balance the budget, down from $ 2.7 million in the current year.

At the budget presser on Friday, the mayor emphasized that — while the resolution of the disagreement between him and the speaker was still «to be announced» — the contracting process «resides in the executive branch,» and his office alone reserves the power to impose stipulations on the provider.

Overall, he insists that the city's budget cushion — the reserves and surplus funds at the beginning of the fiscal year — should be between 12 and 18 percent of city expenditures.

The proposal, part of the $ 168.2 billion executive budget released last week, says that any Medicaid managed care or long - term care Health Maintenance Organization that has excess reserves across all lines of business would be subject to a prospective cut in Medicaid rates.

Lakers decreased the County Administrator's budget by $ 82,458 in target spending and increased the use of reserves by $ 43,650.

The assessment came at the request of Utica's mayor and common council after they took painstaking steps to reverse an $ 8 million budget gap and depleted fund reserves in 2012.