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Instructions for Tennessee Arts Commission Grantee on completing the Revised Budget Form. This form replaces the original grant application budget and must be submitted even if the project is fully

How to fill out revised budget form

How to fill out Revised Budget Form

1. Start by downloading the Revised Budget Form from the designated website.
2. Fill in your details at the top of the form, including your name, project title, and date.
3. Review the original budget to understand the changes that need to be made.
4. In the revised budget section, list each line item that needs adjustment, providing a clear reason for each change.
5. Ensure the totals are accurate by adding up the revised amounts for each category.
6. Attach relevant documentation or justifications for the changes if required.
7. Double-check all entries for accuracy and completeness before submitting.

Who needs Revised Budget Form?

1. Project managers requiring budget revisions due to changed project conditions.
2. Grants and funding recipients needing to adjust allocated budget items.
3. Organizations executing projects that encounter unexpected expenses or savings.
4. Financial officers managing budget compliance and reporting.

People Also Ask about

What are the three types of budgets?

During the life of a project, it may become necessary to modify certain aspects of the original project. Such changes may involve re-budgeting of funds among expense classes or adjusting the length of a project period.

What is a revision budget?

Budget Revisions may be necessary if the current planned expenditures differ from the original or most recent budget approved by the sponsor. Reasons for revising a budget include increases (or decreases) in funding amounts or to reallocate budgeted funds between cost categories within a project.

How do you revise a budget?

We have put together 5 simple steps to revise your budget and get back on track. Step 1: Track your spending. Step 2: Calculate expenses. Step 3: Find extra money. Step 4: Adjust your budget. Step 5: Talk to a financial professional.

What does it mean to revise a budget?

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.

What is the meaning of revised budget?

A budget revision makes changes to an existing budgeted amount. It does not increase or decrease the total budget, so the total of all changes must equal to zero.

What is the difference between a budget revision and a budget modification?

A budget revision is an increase or decrease to the total amount of the award. A budget modification transfers budget authority (expenditure, revenue or both) between allocations in accounts, account codes or any combination of these.

What is the budget revision amendment?

A budget revision occurs when a Section 1115 grant recipient requests to move funds between direct-cost categories in an approved budget. A written request for budget revision approval should be directed to the ACF Office of Grants Management within 30 days of the proposed change.

For pdfFiller’s FAQs

What is Revised Budget Form?

The Revised Budget Form is a document used by organizations to provide updated financial projections and allocations for their budget after the initial budget has been approved.

Who is required to file Revised Budget Form?

Organizations that experience significant changes in their financial circumstances or planning, such as non-profits, governmental agencies, or businesses receiving certain types of funding, are typically required to file a Revised Budget Form.

How to fill out Revised Budget Form?

To fill out the Revised Budget Form, one must gather the necessary financial data, outline the changes to the original budget, provide justification for those changes, and complete the form with accurate figures while ensuring compliance with any specific guidelines provided by the overseeing body.

What is the purpose of Revised Budget Form?

The purpose of the Revised Budget Form is to ensure transparency, accountability, and proper resource allocation by documenting and communicating any changes in the budget to relevant stakeholders or funding entities.

What information must be reported on Revised Budget Form?

The information that must be reported on the Revised Budget Form typically includes the original budget amounts, the proposed revised amounts, explanations for the budget adjustments, and a breakdown of expenses and revenues affected by the changes.