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The Constituency Development Fund was introduced in Kenya in 2003 with the passage of the CDF Act 2003 by the 9th Parliament of Kenya. The CDF Act provides that the government set aside at least 2.5% of its ordinary revenue for disbursement under the CDF program. Three quarters of the amount is divided equitably between Kenya’s 210 ...
Funds from operations (FFO) is the term that investors use to describe the cash flow of a real estate company or a real estate investment trust (REIT). FFO is a performance indicator created by the National Association of Real Estate Investment Trusts (NAREIT) that is recognized by the SEC to be the standard non- GAAP gauge of financial ...
A sinking fund is a fund established by an economic entity by setting aside revenue over a period of time to fund a future capital expense, or repayment of a long-term debt . In North America and elsewhere where it is common for government entities and private corporations to raise funds through the issue of bonds, the term is normally used in ...
The British Consolidated Fund was so named as it consolidated together a number of existing accounts, detailed below, and facilitated proper parliamentary oversight of the spending of the executive; it was defined as "one fund into which shall flow every stream of public revenue and from which shall come the supply of every service".
Google was founded on September 4, 1998, by American computer scientists Larry Page and Sergey Brin while they were PhD students at Stanford University in California. Together, they own about 14% of its publicly listed shares and control 56% of its stockholder voting power through super-voting stock.
Legal defense fund. In the United States, a legal defense fund (or LDF) is an account set up to pay for legal expenses, which can include attorneys' fees, court filings, litigation costs, legal advice, or other legal fees. The fund can be public or private and is set up for individuals, organizations, or for a particular purpose.
Lloyd's Patriotic Fund was founded on 28 July 1803 at Lloyd's Coffee House, and continues to the present day. Lloyd’s Patriotic Fund now works closely with armed forces charities to identify the individuals and their families who are in urgent need of support. The contributors created the fund to give grants to those wounded in service to the ...
Another method for establishing counterpart funds is for goods (such as food aid) to be donated to an aid-recipient nation. The recipient government can then sell the goods and use the proceeds (received in local currency) to set up a counterpart fund. In these ways, the recipient government can establish counterpart funds in local currency.