#TECK2609126ABudget sustainability thresholds for the French National Maritime School
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The order sets financial health thresholds for the French National Maritime School. The school must keep more than 30 days of cash, more than 15 days of working capital, and personnel costs below 83% of collectible revenue. It also explains how each indicator is calculated, using year-end figures and annual payment appropriations excluding investment. The practical effect is a clear benchmark for monitoring the school’s budget position and spotting financial stress early.
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Key Changes
- Sets a minimum cash threshold of more than 30 days
- Sets a minimum working capital threshold of more than 15 days
- Requires personnel costs to stay below 83% of collectible revenue
Obligations
What this law requires
Maintain a cash position of more than 30 days, calculated using the institution’s cash level as of 31 December divided by one-360th of total annual payment appropriations excluding investment.
Maintain working capital of more than 15 days, calculated using working capital as of 31 December divided by one-360th of total annual payment appropriations excluding investment.
Keep personnel costs below 83% of collectible revenue, calculated using personnel costs and collectible revenue as of 31 December of the relevant financial year.