Budgetary Changes Clause Samples

The Budgetary Changes clause establishes the procedures and conditions under which adjustments to the agreed-upon budget can be made during the course of a project or contract. Typically, this clause outlines who has the authority to propose or approve changes, the documentation required for such requests, and any limitations or thresholds for budget modifications. For example, it may require written approval from both parties before any additional expenditures are incurred. Its core practical function is to provide a clear and controlled process for managing financial changes, thereby preventing disputes and ensuring that all parties remain aligned on project costs.
Budgetary Changes. The Awardee must obtain the prior written approval of CNCS’s Office of Grants Management before amending the approved budget in any of the following ways: a. Specific Costs Requiring Prior Approval before Incurrence under OMB Circulars ▇- ▇▇ (▇ ▇▇▇ Part 220), A-87 (2 CFR Part 225) or A-122 (2 CFR Part 230). For certain cost items, the cost circulars require approval of the awarding agency for the cost to be allowable. Examples of these costs are overtime pay, rearrangement and alteration costs, and pre-award costs. b. Purchases of Equipment over $5,000 using Cooperative Agreement funds, unless specified in the approved Application and budget. c. Changes to cumulative and/or aggregate budget line items that amount to 10 per cent or more of the total budget must be approved in writing in advance by CNCS. The total budget includes both CNCS and Awardee shares. Awardees may transfer funds among approved direct cost categories when the cumulative amount of such transfers does not exceed 10 percent of the total budget.
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Budgetary Changes. The Subgrantee must obtain the prior written approval of CV before deviating from the approved budget included in Exhibit B in any of the following ways: 1) Specific Costs Requiring Prior Approval before Incurrence under OMB Cost Principles 2 CFR Part 200, Subpart E. For certain cost items, the cost principles require approval of the awarding agency for the cost to be allowable. Examples of these costs are overtime pay, rearrangement and alteration cots, and pre-award costs. 2) Purchases of Equipment over $5,000 using award funds, unless specified in the approved application and budget. 3) Unless the CNCS share of the award is $100,000 or less, changes to cumulative and/or aggregate budget line items that amount to 10 percent or more of the total budget must be approved in writing in advance by CV. The total budget includes both the CNCS and recipient shares. Subgrantees may transfer funds among approved direct cost categories when the cumulative amount of such transfers does not exceed 10 percent of the total budget. In some cases, CV will be required to obtain approval from CNCS before a program can make this change. Exhibit G, “Resource and Reference Materials for Subgrantees” identifies resources available on the budget revision and approval process. Failure to receive prior approval for budget revisions may result in nonpayment of expenditures that did not receive prior approval and/or invoices being held until the budget changes are resolved. In addition, non-compliance will be noted in monitoring reviews and may become a factor in evaluating organizational capacity for future funding decision-making.
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Budgetary Changes. The Recipient must obtain the prior written approval of CNCS’s Office of Grants Management before amending the approved budget in any of the following ways: a. Specific Costs Requiring Prior Approval before Incurrence under the Uniform Guidance and CNCS’s implementing regulation (2 CFR Part 200 and Part 2205). For certain cost items, the Uniform Guidance requires approval of the awarding agency for the cost to be allowable. A list of these can be found at 2 CFR §200.407 – Prior written approval (prior approval). b. The transfer of funds budgeted to other categories of expenses from participant support costs, which are direct costs for items such as stipends or subsistence allowances, travel allowances, and registration fees paid to or on behalf of participants or trainees (but not employees) in connection with conferences, or training projects. c. Unless described in the application and funded in the approved Federal awards, the subawarding, transferring or contracting out of any work under this award that is not for supplies, material, equipment or general support services. This does not include the selection of subrecipients as required in these terms and conditions or any contracting previously identified in the budget, such as contracting for the required evaluation. d. Changes in the amount of approved cost-sharing or matching provided. e. For those awards where the Federal share exceeds the Simplified Acquisition Threshold (set by 48 C.F.R. Subpart 2.1), cumulative changes to budget line items that are expected to or do amount to 10 percent or more of the total budget, as last approved by CNCS, must be approved in writing in advance by CNCS. The total budget includes both CNCS and recipient shares. Recipients may transfer funds among approved direct cost categories when the cumulative amount of such transfers does not exceed 10 percent of the total budget. Currently, the Simplified Acquisition Threshold is $150,000, but it is periodically adjusted for inflation. 48 C.F.R. Subpart 2.1 will have the current amount. The recipient may also seek prior written approval on the allowability and allocability in advance of the incurrence of special or unusual costs under 2 C.F.R. §200.407. This prior written approval should include the timeframe or scope of the agreement.
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Budgetary Changes. The Awardee must obtain the prior written approval of the Corporation’s Office of Grants Management before amending the approved budget in any of the following ways: a. Specific Costs Requiring Prior Approval before Incurrence under OMB Circulars A- 21 (2 CFR Part 220), A-87 (2 CFR Part 225) or A-122 (2 CFR Part 230). For certain cost items, the cost circulars require approval of the awarding agency for the cost to be b. Purchases of Equipment over $5,000 using Cooperative Agreement funds, unless specified in the approved Application and budget. c. Changes to cumulative and/or aggregate budget line items that amount to 10 per cent or more of the total budget must be approved in writing in advance by the Corporation. The total budget includes both the Corporation and Awardee shares. Awardees may transfer funds among approved direct cost categories when the cumulative amount of such transfers does not exceed 10 percent of the total budget.
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Budgetary Changes. The Awardee must obtain the prior written approval of CNCS’s Office of Grants Management before amending the approved budget in any of the following ways: a. Specific Costs Requiring Prior Approval before Incurrence under OMB Circulars A-21 (2 CFR Part 220), A-87 (2 CFR Part 225) or A-122 (2 CFR Part 230). For certain cost items, the cost circulars require approval of the awarding agency for the cost to be allowable. Examples of these costs are overtime pay, rearrangement and alteration costs, and pre-award costs. b. Purchases of Equipment over $5,000 using cooperative agreement funds, unless specified in the approved application and budget. c. Changes to cumulative and/or aggregate budget line items that amount to 10 per cent or more of the total budget. The total budget includes both CNCS and Awardee shares. The Awardee may transfer funds among approved direct cost
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Related to Budgetary Changes

  • Regulatory Changes If any legislative, regulatory, judicial or other legal action (other than an Amendment to the Act, which is provided for in Section 29.3) materially affects the ability of a Party to perform any material obligation under this Agreement, a Party may, on thirty (30) days written notice to the other Party (delivered not later than thirty (30) days following the date on which such action has become legally binding), require that the affected provision(s) be renegotiated, and the Parties shall renegotiate in good faith such mutually acceptable new provision(s) as may be required; provided that such affected provisions shall not affect the validity of the remainder of this Agreement.

  • STATUTORY CHANGES All references to sections of the Exchange Act or the Code shall be deemed also to refer to any successor provisions to such sections.

  • Policy Changes If the plan, the amount of reinsurance or the premiums of a Reinsured Policy are changed, the company will promptly inform the Reinsurer. Whenever a Reinsured Policy is changed and the COMPANY'S UNDERWRITING RULES DO NOT REQUIRE that full evidence be obtained, the reinsurance will remain in effect with the Reinsurer. The suicide, contestability and recapture period applicable to the original Reinsured Policy will apply to the reissued Reinsured Policy and the duration will be measured from the effective date of the original Reinsured Policy. Whenever any Reinsured Policy is changed and the COMPANY'S UNDERWRITING RULES REQUIRE that full evidence be obtained, the change will be subject to the Reinsurer's approval, if: 6.2.1 The new amount of the Reinsured Policy would be in excess of the Automatic Acceptance Limit, in effect at the time of the change, as set out in Exhibit E; or 6.2.2 The new amount of the policy and the amount already in force on the same life exceeds the Jumbo Limit stated in Exhibit E; or 6.2.3 The Reinsured Policy is on a facultative basis. The amount of any non-contractual increase will be subject to the terms stated in Exhibit C. The Company will report the details of all changes according to the terms outlined in Exhibit F, Reinsurance Reports. For changes not covered under this Agreement, which affect the terms of any Reinsured Policy, the Company must obtain the Reinsurer's approval before such changes become effective.

  • SCOPE CHANGES The Commissioner reserves the right to require, by written order, changes to the scope of the Contract, by altering, adding to or deducting from the Bid Specifications, such changes to be within the general scope of the Contract. If any such change causes an increase or decrease in the cost of, or the time required for, performance of any part of the work under the Contract, whether or not changed by the order, the Commissioner shall, upon notice from Contractor as hereafter stated, make an equitable adjustment in the Contract price, the delivery schedule or both and shall modify the Contract. The Contractor must assert its right to an adjustment under this clause within thirty days from the date of receipt of the written order. However, if the Commissioner decides that the facts justify it, the Commissioner may provide an adjustment without receipt of a proposal. Failure to agree to any adjustment shall be a dispute under the Disputes clause, provided, however, that nothing in this clause shall excuse the Contractor from proceeding with the Contract as changed.

  • Program Changes Contractor agrees to inform the County of any alteration in program or service delivery at least thirty (30) days prior to the implementation of the change, or as soon as reasonably feasible.