Common use of The Cost Reimbursement Budget Clause in Contracts

The Cost Reimbursement Budget. 1. The cost reimbursement budget documents all approved and allowable expenditures. Grantee shall only utilize the funding detailed in the approved cost reimbursement budget for approved and allowable costs. 2. If needed, Grantee may revise the approved cost reimbursement budget for each allocated Program. The requirements for revising the budget for the allocation in each Program are as follows: a. Grantee may transfer funds from the budgeted direct categories only, with the exception of the Equipment and Travel Categories. Grantee may transfer up to twenty-five (25%) percent of the allocated fiscal year Program amount without System Agency approval. Budget revisions exceeding the System Agency variance percentage are required to receive System Agency’s written approval provided through the Budget Program Adjustment Form (BPA). b. Grantee must adhere to the System Agency’s travel policy. Grantee is required to submit a Budget Program Adjustment (BPA) form to request System Agency approval for all new out-of-state travel requests. Grantee must submit out-of-state travel requests at least ninety (90) days prior to the planned travel. System Agency will provide written notification if the new travel request is approved. c. Grantee may request revisions to the approved Cost Reimbursement budgeted direct categories that exceed the System Agency twenty-five (25%) percent variance requirement, excluding “Equipment”, “Indirect Cost” and “Travel” categories, by submitting a Budget Program Adjustment form to the assigned contract manager. This change is considered a unilateral change in accordance to Attachment D: HHS Uniform Terms and Conditions; Article XI: General Provisions, Section 11.7, Change in Laws and Compliance with Laws and does not require a bilateral amendment. System Agency will provide written notification of the approval or denial of the request. The budget revisions are not authorized, and funds cannot be utilized until Grantee receives written approval. d. Grantee may request transferring funds between awarded Programs by submitting a Budget Program Adjustment (BPA) form to the assigned Contract Manager. This change is considered a unilateral change in accordance with Attachment D: HHS Uniform Terms and Conditions; Article XI: General Provisions, Section 11.7, Change in Laws and Compliance with Laws and does not require a bilateral amendment. System Agency will provide written notification of the approval or denial of the request. The budget revisions are not authorized, and funds cannot be utilized until Grantee receives written approval. e. Grantee may revise the Cost Reimbursement budget ‘Equipment’ and/or ‘Indirect Cost’ categories, however a formal Amendment is required. Grantee shall submit to the assigned contract manager a Budget Program Adjustment (BPA) form, which includes a justification for the revisions. The assigned Contract Manager shall provide written notification stating if the requested revision is approved. If the revision is approved, the budget revision is not authorized, and funds cannot be utilized until the Amendment is executed and signed by both parties. 3. Assets as Collateral Prohibited Grantees shall not encumber equipment purchased with System Agency funds without prior written approval from the System Agency. 4. Property Inventory and Protection of Assets Grantee shall: a. Maintain an inventory of equipment and supplies defined as controlled assets, and property described in this grant agreement and submit to the assigned grant agreement manager, upon request. At a minimum, the inventory report shall include the following: i. Description of the property; ii. Serial number or other identification number; iii. Source of funding for the property (including the Federal Assistance Identification Number); iv. Who holds title, v. Acquisition date and cost of the property;

The Cost Reimbursement Budget. 1. The cost reimbursement budget documents all approved and allowable expenditures. Grantee shall only utilize the funding detailed in the approved cost reimbursement budget for approved and allowable costs. 2. If needed, Grantee may revise the approved cost reimbursement budget for each allocated Program. The requirements for revising the budget for the allocation in each Program are as follows: a. Grantee may transfer funds from the budgeted direct categories only, with the exception of the Equipment and Travel Categories. Grantee may transfer up to twenty-five (25%) percent of the allocated fiscal year Program amount without System Agency approval. Budget revisions exceeding the System Agency variance percentage are required to receive System Agency’s written approval provided through the Budget Program Adjustment Form (BPA). b. Grantee must adhere to the System Agency’s travel policy. Grantee is required to submit a Budget Program Adjustment (BPA) form to request System Agency approval for all new out-of-state travel requests. Grantee must submit out-of-state travel requests at least ninety (90) days prior to the planned travel. System Agency will provide written notification if the new travel request is approved. c. Grantee may request revisions to the approved Cost Reimbursement budgeted direct categories that exceed the System Agency twenty-five (25%) percent variance requirement, excluding “Equipment”, “Indirect Cost” and “Travel” categories, by submitting a Budget Program Adjustment form to the assigned contract manager. This change is considered a unilateral change in accordance to Attachment D: HHS Uniform Terms and Conditions; Article XI: General Provisions, Section 11.7, Change in Laws and Compliance with Laws and does not require a bilateral amendment. System Agency will provide written notification of the approval or denial of the request. The budget revisions are not authorized, and funds cannot be utilized until Grantee receives written approval. d. Grantee may request transferring funds between awarded Programs by submitting a Budget Program Adjustment (BPA) form to the assigned Contract Manager. This change is considered a unilateral change in accordance with Attachment D: HHS Uniform Terms and Conditions; Article XI: General Provisions, Section 11.7, Change in Laws and Compliance with Laws and does not require a bilateral amendment. System Agency will provide written notification of the approval or denial of the request. The budget revisions are not authorized, and funds cannot be utilized until Grantee receives written approval. e. Grantee may revise the Cost Reimbursement budget ‘Equipment’ and/or ‘Indirect Cost’ categories, however a formal Amendment is required. Grantee shall submit to the assigned contract manager a Budget Program Adjustment (BPA) form, which includes a justification for the revisions. The assigned Contract Manager shall provide written notification stating if the requested revision is approved. If the revision is approved, the budget revision is not authorized, and funds cannot be utilized until the Amendment is executed and signed by both parties. 3. Assets as Collateral Prohibited Grantees shall not encumber equipment purchased with System Agency funds without prior written approval from the System Agency. 4. Property Inventory and Protection of Assets Grantee shall: a. Maintain an inventory of equipment and supplies defined as controlled assets, and property described in this grant agreement and submit to the assigned grant agreement manager, upon request. At a minimum, the inventory report shall include the following: i. Description of the property; ii. Serial number or other identification number; iii. Source of funding for the property (including the Federal Assistance Identification Number); iv. Who holds title, v. Acquisition date and cost of the property;

The Cost Reimbursement Budget. 1. The cost reimbursement budget documents all approved and allowable expenditures. Grantee shall only utilize the funding detailed in the approved cost reimbursement budget for approved and allowable costs. 2. If needed, Grantee may revise the approved cost reimbursement budget for each allocated Program. The requirements for revising the budget for the allocation in each Program are as follows: a. Grantee may transfer funds from the budgeted direct categories only, with the exception of the Equipment and Travel Categories. Grantee may transfer up to twenty-five (25%) percent of the allocated fiscal year Program amount without System Agency approval. Budget revisions exceeding the System Agency variance percentage are required to receive System Agency’s written approval provided through the Budget Program Adjustment Form (BPA)Form. b. Grantee must adhere to the System Agency’s travel policy. Grantee is required to submit a Budget Program Adjustment (BPA) form to request System Agency approval for all new out-of-state travel requests. Grantee must submit out-of-state travel requests at least ninety (90) days prior to the planned travel. System Agency will provide written notification if the new travel request is approved. c. Grantee may request revisions to the approved Cost Reimbursement budgeted direct categories that exceed the System Agency twenty-five (25%) percent variance requirement, excluding “Equipment”, “Indirect Cost” and “Travel” categories, by submitting a Budget Program Adjustment form to the assigned contract manager. This change is considered a unilateral change in accordance to with Attachment D: HHS Uniform Terms and Conditions; Article XI: General Provisions, Section 11.7, Change in Laws and Compliance with Laws and does not require a bilateral amendment. System Agency will provide written notification of the approval or denial of the request. The budget revisions are not authorized, and funds cannot be utilized until Grantee receives written approval. d. Grantee may request transferring funds between awarded Programs by submitting a Budget Program Adjustment (BPA) form to the assigned Contract Manager. This change is considered a unilateral change in accordance with Attachment D: HHS Uniform Terms and Conditions; Article XI: General Provisions, Section 11.7, Change in Laws and Compliance with Laws and does not require a bilateral amendment. System Agency will provide written notification of the approval or denial of the request. The budget revisions are not authorized, and funds cannot be utilized until Grantee receives written approval. e. Grantee may revise the Cost Reimbursement budget ‘Equipment’ and/or ‘Indirect Cost’ categories, however a formal Amendment is required. Grantee shall submit to the assigned contract manager a Budget Program Adjustment (BPA) form, which includes a justification for the revisions. The assigned Contract Manager shall provide written notification stating if the requested revision is approved. If the revision is approved, the budget revision is not authorized, and funds cannot be utilized until the Amendment is executed and signed by both parties. 3. Assets as Collateral Prohibited Grantees shall not encumber equipment purchased with System Agency funds without prior written approval from the System Agency. 4. Property Inventory and Protection of Assets Grantee shall: a. Maintain an inventory of equipment and supplies defined as controlled assets, and property described in this grant agreement and submit to the assigned grant agreement manager, upon request. At a minimum, the inventory report shall include the following: i. Description of the property; ii. Serial number or other identification number; iii. Source of funding for the property (including the Federal Assistance Identification Number); iv. Who holds title, v. Acquisition date and cost of the property;