Sentences with phrase «contingency budget»
A contingency budget refers to a reserved amount of money set aside for unexpected or unforeseen events or expenses that may occur during a project or period of time. It acts as a safety net, providing resources to handle unforeseen circumstances, emergencies, or changes that may disrupt the original plan or budget. Full definition
If proposals get rejected again, districts must adopt contingency budgets that do not raise taxes beyond last year's levy.
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Q: In the past, defeated school budgets could be replaced by contingency budgets that raised taxes even higher.
Getting voters to pass a budget is even more critical this year because in the past defeated school budgets could be replaced by contingency budgets that raised taxes.
School boards can imposed contingency budgets which raise taxes substantially without any voter approval at all.
Big weapons programs will take significant hits if Congress's short - term spending plan turns into a year - long contingency budget.
So back to the board it came, through a back - alley channel known as the «contingency budget law.»
From fires and floods to recent snowstorms, extreme weather has eaten into many schools» campus maintenance budgets and contingency budgets too.
«Always have a contingency budget,» she says, noting that she allots 15 to 20 percent more money than she thinks she needs for website overhauls, trade shows, printed materials and product development.
The City School District of New Rochelle has a little over a month to convince voters to support a budget or New York State will step in to administer a Contingency Budget which will entail a form of financial austerity never before experienced in the Queen City.
The contingency budget, adopted after school district voters turn down a big property tax increase, is undemocratic too.
The ones that didn't got a defeat but the taxpayers are still going to get taken for a ride in the contingency budgets.
A contingency budget should not be a zero increase in the tax levy; it should be set it at the cap and contain necessary exclusions (debt service, increases in pension costs, tax certiorari payments and costs due to enrollment increases, etc.);
If you want real democracy, then let's eliminate the contingency budget option entirely.
The district must go to a contingency budget if the budget is defeated a second time.
In school districts where the budget failed to pass, a second vote may be held on June 15 or school boards may forgo a second vote and adopt a contingency budget.
After a budget is voted down, school boards can schedule another vote on the statewide re-vote day, June 19, or the board can adopt a contingency budget that does not increase taxes.
It only increases the Legislature's relative power in the budget process by taking the Governor's appropriations bills off the table if they are not all acted on by the start of the state fiscal year and then giving the Legislature greater discretion in amending the «contingency budget» (that would take effect in such a situation) than it has in amending the appropriations bills submitted by the Governor in conjunction with his Executive Budget.
Under the new tax cap law, a contingency budget can not result in a tax levy increase.
In other words, if the board proposes a contingency budget (which we did) and the voters reject it (which they did), the board nevertheless has the authority simply to impose it.
The tax increase was soundly defeated, 1,249 to 424, but then the contingency budget clause reared its ugly head.
New York State law says that a local district may impose a «contingency» budget — allowing an increase commensurate with the previous year's Consumer Price Index (CPI)-- without voter approval; rather, if the board of ed proposes a contingency budget (which we have) and the voters reject it, the board has the power to simply impose it.
How did you determine the contingency budget & what % was it?
You stated that your contingency budget covered the cost of the sewage line repair.
Will your contingency budget allow for that?
Since you have already ranked your priorities, you know which aspects can be let go if unexpected bathroom remodeling costs arise and your contingency budget doesn't cover them.
When it comes to the figuring out the cost to remodel a bathroom, it's always a good idea to establish a contingency budget.
By ranking your project's priorities, you'll know what items can be mixed if unexpected costs arise and your contingency budget doesn't cover everything, or if you decide to submit a change order because you discovered a stunning (and more costly) fixture that you just can't live without.
When it comes to the budget, it's always a good idea to establish a contingency budget.