Common use of Procedure for Amending the Budget Clause in Contracts

Procedure for Amending the Budget. In the event it becomes necessary to amend the budget, the following procedure shall apply: a. All budget amendments shall be proposed at a public meeting of the Board, and must be approved by a majority vote of the Board to take effect. Budget amendments shall be proposed as needed. When the need for a budget amendment is determined, the amendment will first be proposed by EDCO Collaborative administration to the Finance and Administration Subcommittee for consideration and a recommendation to the full Board. Amendments and the recommendation of the Finance and Administration Subcommittee will be presented for a Board vote at the next Board meeting. b. Any amendment to the budget that results in an increase in the tuition rates, the membership assessment or fees-for-service shall adhere to the following procedures: i. All Board members shall, within ten (10) working days of the public meeting at which the amendment was first proposed, report to their Member Districts the content of the proposed amendment. ii. All amendments shall be voted on by the Board at a second public Board meeting no earlier than thirty (30) working days after the Board meeting at which the amendment was first proposed; adoption shall require a majority vote. iii. The Treasurer shall certify and transmit the amended tuition rates, membership assessment and fees-for-service to each Member District not later than ten (10) working days following the affirmative vote of the Board. c. The Board has the authority to reduce tuition rates, membership assessment, and fees-for-service to Member Districts and non-member districts when doing so is determined to be in the best interest of the Collaborative.