Formal Budget Modification Clause Samples

Formal Budget Modification a. Prior to incurring any costs, GRANTEE shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification. b. A formal budget modification is 1) any modification to a cost category with a total of more than Five Thousand Dollars ($5,000), in which the modification will exceed ten percent (10%) of the total cost category; or 2) any modification to a cost category for which no dollar amount is budgeted. c. GRANTEE shall address and send a request for a formal budget modification to the designated COMMISSION staff, with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. GRANTEE shall not be permitted a formal budget modification during the first two (2) months or the last two (2) months of the Grant Period, unless authorized by COMMISSION staff. d. GRANTEE is only permitted two (2) approved formal budget modification requests during the Grant Period. COMMISSION’s approval of a formal budget modification request will be contingent on GRANTEE’s timely submission of documentation required by COMMISSION.

Formal Budget Modification a. Notwithstanding Section XXVII of this Contract, prior to incurring any costs, CONTRACTOR shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification. b. A formal budget modification is 1) any modification to a cost category with a total of more than Five Thousand Dollars ($5,000), in which the modification will exceed ten percent (10%) of the total cost category; or 2) any modification to a cost category for which no dollar amount is budgeted. c. CONTRACTOR shall address and send a request for a formal budget modification to the COMMISSION staff (the “designated COMMISSION staff”), with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. CONTRACTOR shall not be permitted a formal budget modification during the first two

Formal Budget Modification. One (1) time throughout the term of this agreement. The formal budget modification must be a change of 10% or greater of the total budget. The request must be in writing on agency letterhead to ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.

Formal Budget Modification a. Notwithstanding Section XXVII of this Contract, prior to incurring any costs, CONTRACTOR shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification, of any modification to an original cost category of Five Thousand Dollars ($5,000) or more, which modification will exceed ten percent (10%) of the cost category. b. CONTRACTOR shall address and send a request for a formal budget modification to the COMMISSION staff (the “designated COMMISSION staff”), with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. CONTRACTOR shall not be permitted a formal budget modification during the first two

Formal Budget Modification a. Notwithstanding Section XXVIII of this Contract, prior to incurring any costs, CONTRACTOR shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification. b. A formal budget modification is 1) any modification to an originating cost category with a total of more than Five Thousand Dollars ($5,000), in which the modification will exceed ten percent (10%) of the total originating cost category; or 2) any modification to a cost category for which no dollar amount is budgeted. c. CONTRACTOR shall address and send a request for a formal budget modification to the designated COMMISSION staff, with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. CONTRACTOR shall not be permitted a formal budget modification during the first two (2) months or the last two (2) months of the term of this Contract, unless authorized by COMMISSION staff. B. CONTRACTOR is only permitted four (4) [1 for every 6 months] approved formal budget modifications during the terms of this Contract. Formal Budget Modifications shall be limited to two (2) per fiscal year (July 1st to June 30th). COMMISSION’s approval of a formal budget modification shall be contingent on CONTRACTOR’s timely submission to documentation required by COMMISSION. C. CONTRACTOR shall restrict its use of payments made by COMMISSION to CONTRACTOR under Section V of this Contract to CONTRACTOR’s performance of the services described in Exhibit A. CONTRACTOR shall only use the payments to supplement existing levels of service and not to fund existing levels of service. In no event shall CONTRACTOR or its officials, officers, directors, employees, agents, subcontractors or assignees supplant state, county, local or other governmental general fund money with COMMISSION payments for any purpose. No COMMISSION funds shall be granted or used for any previously existing project or program funded by state or local general funds unless the existing funding has formally been terminated or the CONTRACTOR demonstrates to the COMMISSION that COMMISSION funds will be used to supplement an existing project or program, and not to supplant existing funding. D. If applicable, any activities under the Capital Improvement/Renovation cost category must be completed within the first year of this project. CONTRACTOR shall submit all adjustments to the designated COMMISSION staff for approval. It sha...