Budget Attachment Clause Samples
The Budget Attachment clause establishes that a detailed budget document is incorporated into the agreement as an official part of the contract. This attachment typically outlines specific cost categories, funding amounts, and allowable expenses related to the project or services being provided. By formally including the budget as an attachment, the clause ensures both parties have a clear, mutual understanding of financial expectations and obligations, thereby reducing the risk of disputes over costs and promoting transparency in financial management.
Budget Attachment. The budget documents identified in the Contract Budget Documents attached hereto as Attachment Insert Attachment letter, outline Contractor’s best estimate of total costs by funding source to be incurred for PY Insert program year. SDWP will monitor actual expenditures in accordance with the expenditure plan and the individual budgeted line items outlined in the Budget Documents. SDWP reserves the right to question any deviation from the expenditure plan and require Contractor to justify billed expenses, revise its budget or resubmit its invoice with identified adjustments in accordance with SDWP Operations Manual, Chapter II, Contract Administration, as may be revised from time to time. In addition, SDWP will monitor Contractors on a monthly and/or quarterly basis to ensure Contractors are managing expenditures. SDWP reserves the right to de-obligate funds from Contractor’s budget that fall below eighty percent (80%) of planned expenditures.