Restrictions on Line Item Transfers Clause Samples

The "Restrictions on Line Item Transfers" clause defines the limitations and conditions under which funds or resources allocated to specific budget line items may be moved or reallocated to other line items. Typically, this clause outlines the approval process required for such transfers, such as needing prior written consent from a contracting party or adhering to specified thresholds for permissible transfers. Its core practical function is to maintain budgetary discipline and transparency, ensuring that funds are used as intended and preventing unauthorized or excessive reallocation that could undermine the original purpose of the budget.
Restrictions on Line Item Transfers. Unless set forth otherwise in PART THREE herein, Budget line item transfers within the guidelines set forth in paragraph 6.2 herein, which would not ordinarily require approval from Grantor, but vary more than ten percent (10%) of the current approved Budget line item amount, are considered changes in the project scope and require Prior Approval from Grantor pursuant to 44 Ill. Admin. Code 7000.370(b).
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Related to Restrictions on Line Item Transfers

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