Connecticut Administrative Code › Title 10 - Education and Culture › 303 - Vending Facilities in Public Buildings › Section 10-303-13 - Income incentive plan

Current through July 10, 2024
(a)
Annual
			 Net Income Incentive Plan
The annual net income incentive standard for every facility
				shall be recommended by the operators committee and approved by the executive
				director and the agency board. The annual net income incentive standard shall
				be the same amount for every facility.
(b)
Income Incentive Payment
			 Plan
(1) When a facility's net income
			 for the current year, as reported by the vendor on business reports approved by
			 the agency, is one half or less than one half of the annual net income
			 incentive standard, the vendor may request that the board pay the vendor an
			 amount equal to the facility's net income for the current year.
(2) When a facility's net income for the
			 current year, as reported by the vendor on business reports approved by the
			 agency, is less than the annual net income incentive standard but greater than
			 one half of the annual net income incentive standard, the vendor may request
			 that the board pay the vendor an amount equal to the difference between the
			 annual net income incentive standard and the facility's net income for the
			 current year.
(3) Incentive
			 payments to vendors under the provisions of this section shall be made
			 semi-annually. The first payment shall be made in October covering the first
			 six months of that calendar year. The second payment shall be made in April of
			 the succeeding year covering the second six months of the preceding calendar
			 year.
(4) The amount of incentive
			 payments granted under this section shall be adjusted on a semi-annual basis
			 according to the facility's performance as presented in the business reports
			 covering the previous six months.
(5) In no event shall total incentive
			 payments for an income year to a vendor by the agency under this section be
			 greater than that facility's net income for that year and in no event shall the
			 total of a facility's net income for a year and incentive payments for that
			 income year to a vendor by the agency under this section exceed the annual net
			 income incentive standard.
(6)
			 Payment by the board under this section shall be contingent upon:
(A) compliance by the vendor with all terms
			 and conditions of the vending facility operating agreement;
(B) provision by the agency and acceptance by
			 the vendor of management services and supervisor assistance to improve
			 operation of the facility;
(C) the
			 efficient operation of the facility by the vendor; and
(D) the vendor's provision to the agency of
			 full access to all of the vendor's financial records regarding operation of the
			 facility.
(7) Payments
			 made under this section are attached to the facility, not to the vendor.
			 Therefore, if a vendor who receives a payment under this section ceases to
			 operate a facility for which a payment was granted, then a new vendor for that
			 facility can request that the agency continue payment to him or her, on a
			 prorated basis, in the same amount and under the same terms as were offered to
			 the previous vendor.
(8) A vendor
			 may receive payments under this section for the operation of only one facility,
			 regardless of the number of facilities operated. The income of any satellite or
			 other facility shall be considered when computing whether payments should be
			 paid under this section, unless the vendor, for the benefit of operational
			 continuity for the program and at the request of the agency, temporarily
			 assumes the operation of an additional facility or facilities. In such cases,
			 the profit from such satellite operation(s) shall not be considered when
			 computing whether a payment should be made under this section for the operation
			 of the primary facility.