Get the free REQUEST FOR BUDGET AMENDMENT/MODIFICATION - usc

This form is to be used for requesting modifications or amendments to budget allocations within the University Comptroller's Office.

How to fill out request for budget amendmentmodification

How to fill out REQUEST FOR BUDGET AMENDMENT/MODIFICATION

1. Obtain the REQUEST FOR BUDGET AMENDMENT/MODIFICATION form from the appropriate authority.
2. Fill in the project title and any identifying information at the top of the form.
3. Specify the reason for the budget amendment or modification in the designated section.
4. Clearly outline the changes being requested, including additional funds or reallocation of existing funds.
5. Provide a detailed justification for each requested change, explaining how it aligns with project goals or needs.
6. Attach any supporting documentation or additional information that supports your amendment request.
7. Review the completed form for accuracy and completeness.
8. Submit the form to the relevant approving body or authority as directed.

Who needs REQUEST FOR BUDGET AMENDMENT/MODIFICATION?

1. Project managers who oversee budgets for specific projects.
2. Organizations or departments requiring adjustments to their financial allocations.
3. Individuals or teams responsible for grant or funding management.
4. Financial officers who manage overall budget compliance.

People Also Ask about

What is a budget modification?

What is a Budget Modification? A budget modification is a zero-sum adjustment of line items in a fiscal year budget. A budget modification does not change the value of the contract. If your organization increased the budget in one area, a proportional decrease would need to occur on another line item in the budget.

What is the state budget amendment?

A balanced budget amendment or debt brake is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.

What is the meaning of budget revision?

A Budget Revision (BR) moves budget authority (expenditure, revenue or both) between allocations, NCHEMS, funds, orgs, accounts, program codes or any combination of these. The net effect of any budget revision is to increase budget authority in one accounting location while decreasing it in another.

Why would a budget be amended?

The budget amendment process is important to help ensure that expenditures made during the fiscal year are supported by the budgets created during the working budget cycle. If you fail to amend the budgets to meet any changing circumstance, it can lead to an over expenditure of funds.

What is the difference between a budget amendment and a budget adjustment?

Budget Adjustment – a transfer of expenditures or revenues of equal amount between line items within a Department's budget. Budget Amendment – a supplemental appropriation of budgetary revenues and expenditures. Budgetary Function – a set of departments that serve a shared programmatic purpose.

What is the budget revision amendment?

What is a budget revision? The process by which recipients revise their budgets to make changes within and between budget categories to meet unanticipated needs and to make other types of post-award changes. This process does not impact the overall budget total. Any changes made must balance out to zero.

What is the threshold for budget revision?

Prior approval is required for budget revisions when the federal share of the awarded budget is above the simplified acquisition threshold ($250,000). Expenditures for a single, direct-cost budget category increase or decrease from the approved budget amount by 10% or more also need prior approval.

How do I write a request for a budget increase?

Here are the steps to take to ask for a budget increase (and get it). Clarify why you want the extra. You'll have to justify why you want the extra funding. Define how much you want. So you know you need more. Put together a justification or options. Talk to your sponsor. Act on the decision.

For pdfFiller’s FAQs

What is REQUEST FOR BUDGET AMENDMENT/MODIFICATION?

A Request for Budget Amendment/Modification is a formal document submitted by an organization to request changes to an approved budget. This may involve reallocating funds, increasing or decreasing budgeted amounts, or adjusting budget line items to better reflect actual spending needs.

Who is required to file REQUEST FOR BUDGET AMENDMENT/MODIFICATION?

Organizations, agencies, or departments that manage budgets and require modifications due to changes in project scope, funding availability, or other unforeseen circumstances are generally required to file a Request for Budget Amendment/Modification.

How to fill out REQUEST FOR BUDGET AMENDMENT/MODIFICATION?

To fill out a Request for Budget Amendment/Modification, you typically need to provide details such as the current budget, the proposed changes, justification for the changes, and any supporting documentation. Each organization may have its own specific form or format.

What is the purpose of REQUEST FOR BUDGET AMENDMENT/MODIFICATION?

The purpose of the Request for Budget Amendment/Modification is to ensure that budgets remain relevant and accurate, allowing organizations to effectively manage their finances, respond to changing circumstances, and maintain compliance with funding requirements.

What information must be reported on REQUEST FOR BUDGET AMENDMENT/MODIFICATION?

Information that must be reported typically includes the budgetary line items being amended, the amount of the changes, reasons for the amendment, any impact on project objectives, and details of stakeholders involved in the budgeting process.