Common use of Over and Underspends Clause in Contracts

Over and Underspends. If an overspend is identified the following approach will be taken:  Seek to cover the overspend from areas of underspend identified within either pool;  Utilise the risk pool funding;  Reduce uncommitted scheme allocations;  Cover from resources outside the pool. If an underspend is identified the following approach will be taken:  Underspends remain within the pooled arrangement to support overspends elsewhere in the pool;  Further joint schemes within budget lines to be proposed in year which can utilise the resources in year. In all of these scenarios the BCF Executive Group is the forum where decisions would be made.