Sentences with phrase «contingency reserve»

When a brokerage is contracted to hold and administer their strata corporation client's contingency reserve funds, these funds must be held in a brokerage trust account.

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

The building is well maintained (I chair the strata council) and has a solid contingency reserve.

Reports and audits regarding system events and other operational issues including frequency response and contingency reserve charts, reports on load shedding and other events, and operational studies.

The changes, which are intended to simplify and modernize the provisions governing investments for money held in contingency reserve funds and collected on special levies, came in response to feedback from strata councils and investment experts.

(ii) the amount received in respect of contingency reserve fund money or special levy money must then be dealt with in accordance with subsection (4).

(a) if the amount received does not include contingency reserve fund or special levy money, it must be paid into an applicable trust account under subsection (2)(a);

Regularly review the expenses from contingency reserve fund (CRF) and special levy (SL) trust accounts, particularly if the managing broker has delegated the authority for withdrawals from these accounts.

Section 7 - 9 of the Council Rules has been amended such that brokerages collecting monthly payments from strata lot owners, who do not receive all of the expected amount, may transfer into contingency reserve funds the amount budgeted, rather than the amount received.

Rehabilitation costs include other allowable expenses, such as inspection fees and a required contingency reserve equal to 10 percent of the total rehabilitation cost.

For example: Section 6.11 (b)(ii) of the Strata Property Regulation allows strata corporations to invest contingency reserve or special levy funds in a guaranteed investment certificate (GIC), if:

Simply enter in your estimates for real GDP growth, GDP inflation, the 10 - year bond rate and your desired contingency reserve in the yellow cells, and the sheet will estimate the projected surplus or deficit for fiscal years 2015 - 16 through 2019 - 20.

Budget 2015 left very little room for error, with projected surpluses of less than $ 3 billion per year in each of the next four years, along with reduced contingency reserves in each of those years.

He enacted deeper budget cuts than electors ever imagined, but also insisted on substantial contingency reserves.

When China has endorsed new structures, such as the New Development Bank and BRICS contingency reserve arrangement, it has simultaneously made sizeable replenishment contributions to the IMF, where it now has nearly three times the voting weight of Canada, about a third more than Britain and France, and only a whisker less than Japan.

This may be reasonable, but given the substantial downside uncertainties with respect to NAFTA, Brexit, the U.S. tax cuts and the economic and fiscal outlook for the U.S. economy, we would have preferred an increasing contingency reserve over the medium term.

Mortgage insurers are required by law to build contingency reserves, meaning that in addition to the capital our companies are required to hold against the risk we insure, a portion of every premium dollar received is reserved specifically for emergencies on a countercyclical basis.

(b) if the amount received is only contingency reserve fund money it must be paid into an applicable trust account under subsection (2)(b);

Balancing Opportunity and Responsibility: New Amendments to Strata Property Regulation Take Effect On July 17, 2014, an amendment to Section 6.11 of the Strata Property Regulation took effect, simplifying the provisions governing investments of contingency reserve funds and money collected for special levies.

If the borrower passes the lender's credit - worthiness test, the loan closes for an amount that will cover the purchase or refinance of the property, the remodeling costs plus any required contingency reserves, any allowable closing costs and mortgage payments (only on Standard 203k — up to 6 months).

Strata councils will soon be managing over a billion dollars in contingency reserve funds.

Ironically, the contingency reserve was slashed by two - thirds on the grounds of reduced downside risk to the economy; given the current state of the economy this projection may one day make a list of shockingly bad predictions.

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.

The forecasted surpluses in the next three years are very modest, ranging from $ 1.4 to $ 2.7 billion; coupled with $ 1 billion per year in contingency reserve, there is very little margin for error if deficits are not an option.

Restoring the contingency reserve to normal levels would eliminate these surpluses completely.

These included overly optimistic economic growth and oil price assumptions; cutting the contingency reserve by two - thirds; selling shares in GM at fire sale prices; raiding EI revenues; and even booking «savings» from unilateral changes to federal employees» sick leave benefits.

Subsequently, a risk adjustment factor was included in various forms (economic prudence and a contingency reserve) in every budget until the first Conservative budget in 2006, at which time both the economic prudence and the contingency reserve were eliminated.

The junior Minister of Finance also says the same thing; the contingency reserve is at play and the government will have a surplus no matter what.

Minister Kenney says the government may have to cut more spending to meet its deficit elimination target and that the $ 3 billion contingency reserve will not be used.

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.

Contingency reserves and economic prudence reserves were included in the budget forecasts to ensure that the deficit target would never be missed.

With the dramatic drop in oil prices, the contingency reserve is long gone already.

These forecasts include a contingency reserve of $ 1.5 billion in 2015 - 16, rising to $ 3 billion annually thereafter.

The PBO is forecasting deficits of about $ 4 billion a year to 2020 - 21, without including a contingency reserve.

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.

This sounds as if you might eliminate the contingency reserve in the future.

He sold GM shares at cut - rate prices for a net savings of $ 900 million; cut the contingency reserve by $ 2 billion; and, booked a «settlement» of $ 900 million for a new disability and sick leave management system for federal government employees.

Better for the government to spend the contingency reserve to «putt money in the pockets of Canadians».

The contingency reserve would not be used to finance new policy initiatives, such as the Family Tax Cut and the increase to the Universal Child Care Benefit.

To undermine his credibility even further, the TD bank issued a report that said, that at a price of oil at $ 40 a barrel, the government's contingency reserves would be depleted and the government would be in deficit in 2015 - 16.

Our plan is anchored in prudent forecasting, including restoring a contingency reserve as we return to surplus, and not budgeting for the positive fiscal impacts of new investments.

There would also be an additional $ 1.5 billion from the contingency reserve; however, some of this could be used up by the impact of slower economic growth on revenues and employment insurance benefits.

Most of this negative impact would be absorbed by the contingency reserve.