Provide Budget Sample Clauses

The 'Provide Budget' clause requires one party, typically the client or project owner, to supply a detailed budget for a project or engagement. This clause outlines the timing, format, and level of detail expected in the budget, and may specify updates or approvals needed if costs change. Its core function is to ensure that all parties have a clear understanding of the financial parameters, reducing the risk of misunderstandings or disputes over funding and resource allocation.
POPULAR SAMPLE Copied 1 times
Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, The CM/GC shall provide or update the Construction Budget to the Owner and Design Professional, including therein as a line item the estimated cost for each discrete cost of the Work within the Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CM/GC shall revise and refine the Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the Owner. As the projected cost of the Work becomes more determinable; the CM/GC shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Owner and Design Professional promptly whenever projected costs exceed or may exceed the budgeted cost. The Construction Budget, as revised thereafter, is regularly updated and provided by the CM/GC to the Owner and Design Professional for the purpose of permitting the Owner to monitor the progress of the Work and to establish the bases on which claims or requests by the CM/GC, or other matters, may be evaluated. The CM/GC does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.
View SourceView Similar (33)
Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, the CMR shall provide or update the Construction Budget to the Board and Design Professional, including therein as a line item the estimated cost for each discrete cost of the Work within the Component Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CMR shall revise and refine the Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the Board. As the projected cost of the Work becomes more determinable; the CMR shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Board and Design Professional promptly whenever projected costs exceed or may exceed the budgeted cost. The Construction Budget, as revised thereafter, is regularly updated and provided by the CMR to the Board and Design Professional for the purpose of permitting the Board to monitor the progress of the Work and to establish the bases on which claims or requests by the CMR, or other matters, may be evaluated. The CMR does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.
View SourceView Similar (3)
Provide Budget. Prior to the commencement of the Work under a Construction Order and in the GMP Change Order, the CMR shall document the costs associated with the Construction Order or any GMP Change Order in a document which shall be referred to as the “Construction Budget.” This Construction Budget shall be provided to the Board and Design Professional, including therein as a line item, the estimated cost for each discrete cost of the Work within the Construction Order Sum or the Guaranteed Maximum Price, as the case may be. As the projected cost of the Work becomes more determinable; the CMR shall document approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Board and Design Professional promptly whenever projected costs exceed or may exceed the budgeted cost. The Construction Budget, as revised thereafter, is regularly updated and provided by the CMR to the Board and Design Professional for the purpose of permitting the Board to monitor the progress of the Work and to establish the bases on which claims or requests by the CMR, or other matters, may be evaluated. The foregoing provision does not authorize the CMR to unilaterally approve Construction Orders, Change Orders, or any changes to GMP. All Construction Orders, Change Orders, and GMP Change Orders must be approved pursuant to Board Policy FGG, which may be periodically revised by the Owner’s governing body, the elected School Board. Current policy FGG reads as follows: Construction Manager at Risk (CMR) contracts are Cost Plus Fee Contracts issued with a fixed Guaranteed Maximum Price (GMP). This sets a maximum overall price for the project. A Component Change Order (CCO) is used to authorize the commencement of construction or procurement of any component of the project for which the Board has approved Component Construction Documents. A CCO does not necessarily change the overall amount of a contract, but it may. The GMP shall be established by the GMP Change Order(s), which will include all previously approved CCOs, and is determined at the completion of the final construction documents. All change orders, including Component Change Orders, must be reviewed by the project Architect/Engineer, appropriate District and Program Management staff as designated by the Superintendent before being recommended for further approval. The Superintendent is delegated authority to approve and sign Change Orders which w...
View Source

Related to Provide Budget

  • Budget 1. The Grantee budget for grant activities for the 2023 Summer Program and State fiscal year 2024 is $ 1,000,267. Any funds received under this grant will not be used to supplant funds normally budgeted for programs or service of the same or similar type. 2. The Grantee may transfer funds among its administrative budget line items as required to carry out the purposes of the grant. Transfer of funds within specified budget categories do not require approval from OSHE (i.e. moving funds from one counselor position to pay for another), however, any transfer of funds from one category to another will require prior approval from OSHE and will be treated as a modification to the program’s contract Attachment. 3. Any request for a budget modification must be in writing and must include a revised budget. All budget revisions and modifications must be in accordance with the EOF Regulations, Section N.J.A.C. 9A:11-6.11. The Grantee will be liable for all unapproved debts.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Annual Budget For the partial year period commencing on the date hereof, and for each calendar year thereafter, the Borrower shall submit to Lender an Annual Budget not later than sixty (60) days prior to the commencement of such period or calendar year in form reasonably satisfactory to Lender, or for so long as an Operating Lease remains in effect, no later than five (5) Business Days after a budget is delivered to Borrower by an Operating Lessee pursuant to the terms of an Operating Lease. The Annual Budget submitted for the calendar year in which a Trigger Event occurs, and for each calendar year thereafter during a Trigger Period, shall be subject to Lender's written approval, which approval shall not be unreasonably withheld (each such Annual Budget as approved by Lender, an "Approved Annual Budget"). In the event that Lender objects to a proposed Annual Budget submitted by Borrower or an Operating Lessee, Lender shall advise Borrower of such objections within thirty (30) days after receipt thereof (and deliver to such party a reasonably detailed description of such objections) and Borrower shall promptly revise, or cause Operating Lessee to revise, such Annual Budget and resubmit the same to Lender. Lender shall advise Borrower of any objections to such revised Annual Budget within ten (10) days after receipt thereof (and deliver to Borrower a reasonably detailed description of such objections) and Borrower shall promptly revise, or cause Operating Lessee to revise, the same in accordance with the process described in this subsection until the Lender approves the Annual Budget. Until such time that Lender approves a proposed Annual Budget, the most recently Approved Annual Budget shall apply; provided that, such Approved Annual Budget shall be adjusted to reflect actual increases in real estate taxes, insurance premiums and utilities expenses.

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and each Secured Debt Holder Group Representative with a copy of such operating plan and budget (the "Operating Budget"). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Common Security Trustee, acting reasonably and in consultation with the Independent Engineer; provided, that if the Common Security Trustee shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided further that the Common Security Trustee shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget. (b) Each Operating Budget delivered pursuant to this Section 6.12 shall contain Operating Budget Categories, and shall specify for each Fiscal Quarter and for each such Operating Budget Category the amount budgeted for such category for such Fiscal Quarter. (c) Each Operating Budget may only be amended with the prior written consent of the Common Security Trustee (in consultation with the Independent Engineer), which consent shall not be unreasonably withheld, conditioned, or delayed.

  • Program Budget A) Contractor will expend funds received for operation of its program and services according to Contractor’s annual operating budget. The portions of said budget, which reflect services performed or money paid to Contractor pursuant to this Agreement shall be subject to the approval of the Human Services Agency. B) In the event Contractor determines a reasonable business necessity to transfer funding between personnel and operating expenses specified in the budget submitted to the Human Services Agency the following will apply: 1. Contractor will notify the Human Services Agency of transfers that in the aggregate are between ten percent (10%) and twenty percent (20%) of the maximum contract amount.