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Above all management challenges require effective and regular (re-)budgeting of all resources needed to execute the Project, taking into account that 15% of the maximum contribution will only be paid to the consortium after the end of the project. As a consequence of the (re-)budgeting process an updated Consortium Plan will be issued. The consortium may face the need to fine tune for different funding modes (eligible costs, lump sum, flat rate and scale of unit costs) within the Project. The various schemes may be imposed by the Funding Authority and/or implemented at the request of the consortium. As a consequence these will be reflected in the budget and the payment scheme for the related task. Referring to Innovation Actions that are coordinated by a for-profit organization that thus only receives a funding rate of 70% it may be discussed in the consortium whether an additional agreement should be found on who will cover the major shares of management and dissemination costs.", "size": 12, "hash": "6c0a3c7f4294e996b9c216232497cbbc", "id": 7}, {"samples": [{"hash": "l2q2xfsKJBi", "uri": "/contracts/l2q2xfsKJBi#budgeting", "label": "Partnership Agreement", "score": 33.9778594971, "published": true}, {"hash": "77flZnn2HHS", "uri": "/contracts/77flZnn2HHS#budgeting", "label": "Partnership Agreement", "score": 33.5440368652, "published": true}, {"hash": "bjsacPOAJrT", "uri": "/contracts/bjsacPOAJrT#budgeting", "label": "Partnership Agreement", "score": 32.1465606689, "published": true}], "snippet_links": [{"key": "partnership-budget", "type": "clause", "offset": [4, 22]}, {"key": "in-accordance-with", "type": "definition", "offset": [39, 57]}, {"key": "principles-and-practices", "type": "clause", "offset": [94, 118]}], "snippet": "The Partnership Budget shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties.", "size": 28, "hash": "103355a5af37d69558eb90c0b732f578", "id": 3}, {"samples": [{"hash": "awMtbDqj2Wa", "uri": "/contracts/awMtbDqj2Wa#budgeting", "label": "Power Sales Agreement", "score": 31.9066886902, "published": true}, {"hash": "5rE4AVjqCQm", "uri": "/contracts/5rE4AVjqCQm#budgeting", "label": "Power Sales Agreement", "score": 31.3390369415, "published": true}, {"hash": "aezHgUkOcRF", "uri": "/contracts/aezHgUkOcRF#budgeting", "label": "Sales Agreement", "score": 30.901058197, "published": true}], "snippet_links": [{"key": "the-board-of-directors", "type": "clause", "offset": [0, 22]}, {"key": "annual-budget", "type": "clause", "offset": [61, 74]}, {"key": "in-accordance-with", "type": "definition", "offset": [101, 119]}, {"key": "section-54", "type": "clause", "offset": [120, 131]}, {"key": "this-agreement", "type": "clause", "offset": [135, 149]}], "snippet": "The Board of Directors shall review, modify and approve each Annual Budget and the revisions thereto in accordance with Section 5.4 of this Agreement.", "size": 15, "hash": "9782be110a5ba04db5b7d3c832197b99", "id": 5}, {"samples": [{"hash": "ewBvfw2CH0G", "uri": "/contracts/ewBvfw2CH0G#budgeting", "label": "Project Participation Share Agreement", "score": 31.1817207336, "published": true}, {"hash": "dOBP6KHzDRs", "uri": "/contracts/dOBP6KHzDRs#budgeting", "label": "Participation Share Agreement", "score": 31.0334682465, "published": true}, {"hash": "i1JOT9fb7Wg", "uri": "/contracts/i1JOT9fb7Wg#budgeting", "label": "Project Participation Share Agreement", "score": 30.8117904663, "published": true}], "snippet_links": [{"key": "normal-vote", "type": "definition", "offset": [33, 44]}, {"key": "proposed-annual-budget", "type": "definition", "offset": [50, 72]}, {"key": "amended-annual-budget", "type": "definition", "offset": [86, 107]}, {"key": "ccp-board", "type": "definition", "offset": [130, 139]}, {"key": "final-approval", "type": "clause", "offset": [144, 158]}], "snippet": "Review, modify, and approve by a Normal Vote each proposed Annual Budget and proposed Amended Annual Budget for submission to the CCP Board for final approval.", "size": 9, "hash": "45beb46f7b4cc2d2f249a7130aea0ea5", "id": 9}, {"samples": [{"hash": "76NySfpyDQ4", "uri": "/contracts/76NySfpyDQ4#budgeting", "label": "Water Purchase Agreement", "score": 32.9130249023, "published": true}, {"hash": "j1uavUv8DnQ", "uri": "/contracts/j1uavUv8DnQ#budgeting", "label": "Water Purchase Agreement", "score": 32.7241439819, "published": true}, {"hash": "1QeiB3XW0Kh", "uri": "/contracts/1QeiB3XW0Kh#budgeting", "label": "Water Purchase Agreement", "score": 32.7241439819, "published": true}], "snippet_links": [{"key": "each-year", "type": "definition", "offset": [21, 30]}, {"key": "fixed-project-costs", "type": "definition", "offset": [36, 55]}, {"key": "project-operation-and-maintenance-expenses", "type": "definition", "offset": [60, 102]}, {"key": "by-the-agency", "type": "clause", "offset": [122, 135]}, {"key": "the-district", "type": "clause", "offset": [140, 152]}, {"key": "fiscal-year", "type": "definition", "offset": [171, 182]}, {"key": "made-available", "type": "clause", "offset": [208, 222]}, {"key": "review-by-the-parties", "type": "clause", "offset": [227, 248]}, {"key": "prior-to", "type": "definition", "offset": [276, 284]}], "snippet": "Not later than May 1 each year, the Fixed Project Costs and Project Operation and Maintenance Expenses shall be estimated by the Agency and the District for the following Fiscal Year. Such estimates shall be made available for review by the Parties at least fifteen (15) days prior to adoption by the Agency\u2019s or District\u2019s respective boards.", "size": 10, "hash": "03e9fabeb2f2e446827ad68bb8521e7d", "id": 8}, {"samples": [{"hash": "ewBvfw2CH0G", "uri": "/contracts/ewBvfw2CH0G#budgeting", "label": "Project Participation Share Agreement", "score": 31.1817207336, "published": true}, {"hash": "dOBP6KHzDRs", "uri": "/contracts/dOBP6KHzDRs#budgeting", "label": "Participation Share Agreement", "score": 31.0334682465, "published": true}, {"hash": "i1JOT9fb7Wg", "uri": "/contracts/i1JOT9fb7Wg#budgeting", "label": "Project Participation Share Agreement", "score": 30.8117904663, "published": true}], "snippet_links": [{"key": "submission-of", "type": "clause", "offset": [9, 22]}, {"key": "proposed-annual-budget", "type": "definition", "offset": [25, 47]}, {"key": "amended-annual-budget", "type": "definition", "offset": [60, 81]}, {"key": "approved-by", "type": "definition", "offset": [83, 94]}, {"key": "normal-vote", "type": "definition", "offset": [97, 108]}, {"key": "the-project-committee", "type": "clause", "offset": [112, 133]}, {"key": "board-shall", "type": "definition", "offset": [143, 154]}, {"key": "in-accordance-with", "type": "definition", "offset": [228, 246]}, {"key": "this-agreement", "type": "clause", "offset": [265, 279]}], "snippet": "Upon the submission of a proposed Annual Budget or proposed Amended Annual Budget, approved by a Normal Vote of the Project Committee, the CCP Board shall review, modify, and approve each Annual Budget and Amended Annual Budget in accordance with Section 5.1(c) of this Agreement.", "size": 13, "hash": "a0107590e26c868947bd30bbf7ec692f", "id": 6}, {"samples": [{"hash": "lXlpLxSMGZj", "uri": "/contracts/lXlpLxSMGZj#budgeting", "label": "Consortium Agreement", "score": 31.6291980743, "published": true}, {"hash": "83LUVTNzJx1", "uri": "/contracts/83LUVTNzJx1#budgeting", "label": "Consortium Agreement", "score": 23.2011413574, "published": true}, {"hash": "kYe8E8d5Igi", "uri": "/contracts/kYe8E8d5Igi#budgeting", "label": "Consortium Agreement", "score": 22.9780979156, "published": true}], "snippet_links": [{"key": "consortium-budget", "type": "definition", "offset": [4, 21]}, {"key": "in-accordance-with", "type": "definition", "offset": [38, 56]}, {"key": "principles-and-practices", "type": "clause", "offset": [93, 117]}, {"key": "budgeted-costs", "type": "definition", "offset": [151, 165]}, {"key": "coordination-costs", "type": "clause", "offset": [217, 235]}], "snippet": "The Consortium Budget shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties.\n7.2.1 Budgeted costs eligible for 100% reimbursement\n7.2.2 Budgeting of coordination costs", "size": 8, "hash": "c39cd31648226bb0cad39b4c99ed068b", "id": 10}], "next_curs": "ClISTGoVc35sYXdpbnNpZGVyY29udHJhY3Rzci4LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhJidWRnZXRpbmcjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["financial-monitoring", "Financial Monitoring"], ["\u2587\u2587\u2587\u2587\u2587\u2587\u2587-principles-for-determining-allowable-or-unallowable-costs", "\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Principles for Determining Allowable or Unallowable Costs"], ["financial-planning-and-budgeting", "Financial Planning and Budgeting"], ["options", "Options"], ["financial-provisions", "Financial Provisions"]], "children": [["budgeting-of-coordination-costs", "Budgeting of coordination costs"], ["annual-budgets", "Annual Budgets"], ["", ""], ["annual-budget", "Annual Budget"], ["budgeting", "Budgeting"]], "title": "Budgeting", "size": 621, "id": "budgeting", "related": [["planning", "Planning", "Planning"], ["productivity", "PRODUCTIVITY", "PRODUCTIVITY"], ["forecasting", "Forecasting", "Forecasting"], ["operational", "Operational", "Operational"], ["strategic-planning", "Strategic Planning", "Strategic Planning"]], "related_snippets": [], "updated": "2025-07-26T06:10:51+00:00", "also_ask": ["What mechanisms ensure enforceable budget caps and adjustments?", "How can parties negotiate flexibility for unforeseen expenses?", "What are the key risks if budget overruns are not addressed?", "How does this budgeting clause compare to industry standards?", "What drafting elements are essential to withstand court scrutiny?"], "drafting_tip": "Specify budget limits, outline approval processes, and require periodic reporting to control costs, ensure accountability, and facilitate financial oversight.", "explanation": "The Budgeting clause establishes the procedures and limitations for planning, approving, and managing financial expenditures related to a project or agreement. Typically, it outlines how budgets are created, who must approve them, and the process for making adjustments if costs change during the course of the work. This clause ensures that all parties have a clear understanding of financial expectations and controls, helping to prevent overspending and disputes over costs."}, "json": true, "cursor": ""}}