West Virginia Expense Limitation Agreement

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9176
• Format: Word; Rich Text

Description

Expense Limitation Agreement between Garnder Lewis Investment Trust and Garnder Lewis Aset Management, Inc. dated February 28, 1999. 4 pages The West Virginia Expense Limitation Agreement, also known as the West Virginia Expense Limitation Act, is a legislative measure put in place to control and restrict government spending in the state of West Virginia. This agreement serves as a mechanism to maintain fiscal discipline and ensure responsible financial management. The primary objective of the West Virginia Expense Limitation Agreement is to restrict annual increases in state government spending, preventing it from outpacing the growth of the state's economy. By imposing limitations on expenditure growth, the agreement aims to keep government expenses in check, avoid budget deficits, and promote sustainable economic development. Under this agreement, the growth of state government spending is limited to a specified percentage or formula tied to the inflation rate or the growth rate of the state's economy. This restriction applies to the overall budget, including various sectors such as education, healthcare, infrastructure development, and public welfare. There are several types of West Virginia Expense Limitation Agreements based on the specific areas or sectors they target. For example: 1. Education Expense Limitation Agreement: This type of agreement focuses on controlling spending related to education, including funding for schools, colleges, and universities. It ensures that education expenses remain within a prescribed limit while striving to provide quality education for West Virginia residents. 2. Healthcare Expense Limitation Agreement: This agreement specifically targets healthcare spending, aiming to manage and regulate expenses in the state's healthcare system. It ensures that healthcare services are provided efficiently while avoiding excessive costs that may strain the state's budget. 3. Infrastructure Expense Limitation Agreement: This agreement deals with expenses related to the development and maintenance of infrastructure, including construction projects, transportation networks, and public utilities. It sets limits on infrastructure spending to promote sustainable development while safeguarding against wasteful expenditure. 4. Public Welfare Expense Limitation Agreement: This type of agreement focuses on expenditure related to various public welfare programs, such as social assistance, welfare benefits, and support for vulnerable populations. It ensures that these programs are adequately funded while maintaining fiscal responsibility and avoiding excessive reliance on public funds. By implementing the West Virginia Expense Limitation Agreement and its various types, the state aims to achieve prudent financial management, efficient resource allocation, and sustainable economic growth. These agreements play a vital role in maintaining a robust and responsible fiscal framework that benefits both the citizens and the state's financial stability.

The West Virginia Expense Limitation Agreement, also known as the West Virginia Expense Limitation Act, is a legislative measure put in place to control and restrict government spending in the state of West Virginia. This agreement serves as a mechanism to maintain fiscal discipline and ensure responsible financial management. The primary objective of the West Virginia Expense Limitation Agreement is to restrict annual increases in state government spending, preventing it from outpacing the growth of the state's economy. By imposing limitations on expenditure growth, the agreement aims to keep government expenses in check, avoid budget deficits, and promote sustainable economic development. Under this agreement, the growth of state government spending is limited to a specified percentage or formula tied to the inflation rate or the growth rate of the state's economy. This restriction applies to the overall budget, including various sectors such as education, healthcare, infrastructure development, and public welfare. There are several types of West Virginia Expense Limitation Agreements based on the specific areas or sectors they target. For example: 1. Education Expense Limitation Agreement: This type of agreement focuses on controlling spending related to education, including funding for schools, colleges, and universities. It ensures that education expenses remain within a prescribed limit while striving to provide quality education for West Virginia residents. 2. Healthcare Expense Limitation Agreement: This agreement specifically targets healthcare spending, aiming to manage and regulate expenses in the state's healthcare system. It ensures that healthcare services are provided efficiently while avoiding excessive costs that may strain the state's budget. 3. Infrastructure Expense Limitation Agreement: This agreement deals with expenses related to the development and maintenance of infrastructure, including construction projects, transportation networks, and public utilities. It sets limits on infrastructure spending to promote sustainable development while safeguarding against wasteful expenditure. 4. Public Welfare Expense Limitation Agreement: This type of agreement focuses on expenditure related to various public welfare programs, such as social assistance, welfare benefits, and support for vulnerable populations. It ensures that these programs are adequately funded while maintaining fiscal responsibility and avoiding excessive reliance on public funds. By implementing the West Virginia Expense Limitation Agreement and its various types, the state aims to achieve prudent financial management, efficient resource allocation, and sustainable economic growth. These agreements play a vital role in maintaining a robust and responsible fiscal framework that benefits both the citizens and the state's financial stability.