Common use of Formal Budget Modification Clause in Contracts

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. 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 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 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