Common use of Cost Reimbursement Budget Clause in Contracts

Cost Reimbursement Budget. 1. The Attachment B-1, Approved Categorical Budget documents all approved and allowable expenditures and is incorporated into the Grant Agreement. Grantee shall only utilize the funding detailed in Attachment B-1, Approved Categorical Budget for approved and allowable costs. 2. If needed, Grantee may revise the Attachment B-1, Approved Categorical Budget. The requirements are as follows: a. Grantee is allowed to transfer funds to the budgeted direct categories except for the Equipment category. Grantee may transfer up to ten percent (10%) of the FY Contract value without System Agency approval. Budget revisions exceeding the ten percent (10%) requirement require System Agency’s written approval, see (J) (2) (b). b. Grantee may request revisions to Attachment B-1, Approved Categorical Budget that exceed the ten percent (10%) requirement stated in (J)(2)(a) by submitting a written request to the assigned Contract Manager, in accordance with the Section K. Budget Program Adjustment (BPA)