Common use of BUDGET AND BUDGET REVISION Clause in Contracts

BUDGET AND BUDGET REVISION. A. The Contractor shall be compensated for expenses only as itemized in the approved budget with the exception of line item budget transfers as noted in G.1 of this Article and shall not be entitled to payment for these expenses until this Agreement and budget have been approved and executed by K/T AAA. . B. The budget must set forth in detail the reimbursable items, unit rates and extended total amounts for each line item. The Contractor’s budget shall include, at a minimum, the following items when reimbursable under this Agreement: 1. Personnel Costs – monthly, weekly, or hourly rates, as appropriate and personnel classifications together with the percentage of time to be charged to this Agreement. 2. Fringe Benefits 3. Contractual Costs – subcontract and consultant cost detail. 4. Indirect Costs 5. Rent – specify square footage and rate. 6. Supplies 7. Equipment – detailed descriptions and unit costs. 8. In State Travel – mileage reimbursement rate, lodging, per diem and other costs. 9. Out of State Travel – any travel outside the State of California including mileage reimbursement rate, lodging, per diem and other costs 10. Other Costs – A detailed list of other operating expenses. C. The Contractor shall submit a budget, which shall be incorporated by reference into the Contract and will have at a minimum, the categories listed in section B above.

BUDGET AND BUDGET REVISION. A. The Contractor shall be compensated for expenses only as itemized in the approved budget with the exception of line item budget transfers as noted in G.1 of this Article and shall not be entitled to payment for these expenses until this Agreement and budget have been approved and executed by K/T AAA. . B. The budget must set forth in detail the reimbursable items, unit rates and extended total amounts for each line item. The Contractor’s budget shall include, at a minimum, the following items when reimbursable under this Agreement: 1. Personnel Costs – monthly, weekly, or hourly rates, as appropriate and personnel classifications together with the percentage of time to be charged to this Agreement. 2. Fringe Benefits 3. Contractual Costs – subcontract and consultant cost detail. 4. Indirect Costs 5. Rent – specify square footage and rate. 6. Supplies 7. Equipment – detailed descriptions and unit costs. 8. In State Travel – mileage reimbursement rate, lodging, per diem and other costs. 9. Out of State Travel – any travel outside the State of California including mileage reimbursement rate, lodging, per diem and other costs 10. Other Costs – A detailed list of other operating expenses. C. The Contractor shall submit a budget, which shall be incorporated by reference into the Contract and will have at a minimum, the categories listed in section B above.