Common use of Approved Project Budget Clause in Contracts

Approved Project Budget. Except to the extent that SANDAG determines otherwise in writing, the Grantee agrees as follows: The Grantee and ▇▇▇▇▇▇ have agreed to a Project budget that is designated the “Approved Project Budget.” The Grantee and/or third-party contractor(s) will incur obligations and make disbursements of Project funds only as authorized by the Approved Project Budget. An amendment to the Approved Project Budget requires the issuance of a formal amendment to the Agreement per Board Policy No. 035, unless the re-allocation of funds among budget items or fiscal years does not increase the total amount of the funding awarded for the Project, does not negatively impact the benefits obtained from the Project, and is consistent with applicable laws, regulations, and policies. Prior written SANDAG Project Manager approval is required for transfers of funds between approved project budget line items.