Common use of Program Budget Clause in Contracts

Program Budget. 1) The annual Program Budget shall consist of the sum of the annual payments for each Program Year made by MS4 Permittees, plus any funds from other sources made available to the Program by majority vote of the Steering Committee. 2) Prior to the start of each Program Year, the Steering Committee shall adopt a Program Budget governing expenditures for the subsequent Program Year. Budget categories shall include, but not be limited to: CCRPC Duties, Contractual Services, and Expenses. 3) Once the Program Year starts, a majority of the Steering Committee may amend the Program Budget as needed, for example to reflect any surplus or deficits from the prior Program Year, receipt of new sources of funds, or a desired change in the Program Budget, subject to Section 8.a, above. 4) In the event that costs are less than anticipated or that grants or other funding sources become available, a majority of the voting Members of the Steering Committee may decide to reduce each Member’s payment by an equal amount or to credit all or part of the following Program Year assessment to each MS4 Permittee.

Appears in 4 contracts

Samples: Stormwater Program Agreement, Stormwater Program Agreement, Stormwater Program Agreement

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