Franklin Ohio Expense Limitation Agreement

• Category: Corporations - Public
• State: Multi-State
• County: Franklin
• 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 Franklin Ohio Expense Limitation Agreement is a legal contract that establishes a set limit on expenses incurred by the city of Franklin, Ohio. This agreement plays a crucial role in ensuring prudent financial management and fiscal responsibility in the city's operations. It establishes guidelines and restrictions on the amount of money that can be spent on various government activities and services, helping maintain a balanced budget and prevent excessive spending. The Franklin Ohio Expense Limitation Agreement is designed to promote transparency and accountability in the city's financial management by ensuring that all expenditures are within the agreed-upon limits. By implementing this agreement, the city aims to avoid overspending, unnecessary debt accumulation, and potential financial crises. Keywords related to Franklin Ohio Expense Limitation Agreement: 1. Franklin, Ohio: Referring to the specific city where this agreement is established. 2. Expense Limitation Agreement: The legal contract that outlines the limitations on the city's expenses. 3. Fiscal Responsibility: The commitment to managing financial resources in a prudent and accountable manner. 4. Balanced Budget: Ensuring that expenses do not exceed revenue, thus maintaining financial stability. 5. Government Activities and Services: Refers to the various operations and services provided by the city administration. 6. Prudent Financial Management: The practice of making informed and responsible decisions regarding the city's finances. 7. Transparency and Accountability: Promoting openness and responsibility in financial operations. 8. Debt Accumulation: The act of acquiring excessive debt due to unrestricted spending. 9. Financial Crisis: A situation in which a municipality faces severe financial constraints and struggles to meet its obligations. Types of Franklin Ohio Expense Limitation Agreements: 1. General Expense Limitation Agreement: This type of agreement applies to the overall expenses of the city government. 2. Department-Specific Expense Limitation Agreement: These agreements can be created for specific departments or divisions within the city administration to regulate their expenses individually. 3. Capital Expense Limitation Agreement: Focuses on controlling the expenses related to capital projects, such as infrastructure development or major public investments. 4. Time-Based Expense Limitation Agreement: This agreement sets specific limitations on expenses for a defined period, such as quarterly or annually. 5. Emergency Expense Limitation Agreement: In extraordinary circumstances, the city may establish a temporary agreement to limit expenses during emergencies or unforeseen events. These different types of Franklin Ohio Expense Limitation Agreements allow for a customized approach to managing expenses, addressing the unique needs and challenges of the city of Franklin, Ohio.

Franklin Ohio Expense Limitation Agreement is a legal contract that establishes a set limit on expenses incurred by the city of Franklin, Ohio. This agreement plays a crucial role in ensuring prudent financial management and fiscal responsibility in the city's operations. It establishes guidelines and restrictions on the amount of money that can be spent on various government activities and services, helping maintain a balanced budget and prevent excessive spending. The Franklin Ohio Expense Limitation Agreement is designed to promote transparency and accountability in the city's financial management by ensuring that all expenditures are within the agreed-upon limits. By implementing this agreement, the city aims to avoid overspending, unnecessary debt accumulation, and potential financial crises. Keywords related to Franklin Ohio Expense Limitation Agreement: 1. Franklin, Ohio: Referring to the specific city where this agreement is established. 2. Expense Limitation Agreement: The legal contract that outlines the limitations on the city's expenses. 3. Fiscal Responsibility: The commitment to managing financial resources in a prudent and accountable manner. 4. Balanced Budget: Ensuring that expenses do not exceed revenue, thus maintaining financial stability. 5. Government Activities and Services: Refers to the various operations and services provided by the city administration. 6. Prudent Financial Management: The practice of making informed and responsible decisions regarding the city's finances. 7. Transparency and Accountability: Promoting openness and responsibility in financial operations. 8. Debt Accumulation: The act of acquiring excessive debt due to unrestricted spending. 9. Financial Crisis: A situation in which a municipality faces severe financial constraints and struggles to meet its obligations. Types of Franklin Ohio Expense Limitation Agreements: 1. General Expense Limitation Agreement: This type of agreement applies to the overall expenses of the city government. 2. Department-Specific Expense Limitation Agreement: These agreements can be created for specific departments or divisions within the city administration to regulate their expenses individually. 3. Capital Expense Limitation Agreement: Focuses on controlling the expenses related to capital projects, such as infrastructure development or major public investments. 4. Time-Based Expense Limitation Agreement: This agreement sets specific limitations on expenses for a defined period, such as quarterly or annually. 5. Emergency Expense Limitation Agreement: In extraordinary circumstances, the city may establish a temporary agreement to limit expenses during emergencies or unforeseen events. These different types of Franklin Ohio Expense Limitation Agreements allow for a customized approach to managing expenses, addressing the unique needs and challenges of the city of Franklin, Ohio.