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OMB Number: 4040-0004 Expiration Date: 01/31/2012 Application for Federal Assistance SF-424 *1. Type of Submission Version 02 2. Type of Application Reapplication Budget modification and extension
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Budget modification and extension refers to the process of making changes to a previously approved budget, either by increasing or decreasing the allocated funds. It allows organizations or individuals to adjust their financial plans based on new circumstances or needs.
Any organization or individual that has a previously approved budget and needs to make changes to it is required to file a budget modification and extension.
Filling out a budget modification and extension typically involves providing details about the changes that need to be made, such as the specific budget items to be modified, the proposed amendments, and the reasons for the modifications. It may also require supporting documentation or justification.
The purpose of budget modification and extension is to allow organizations or individuals to adjust their financial plans and adapt to new circumstances, changes in priorities, or unexpected events. It enables better financial management and ensures that resources are allocated effectively.
The information reported on a budget modification and extension may include details about the specific budget items being modified, the proposed changes in funding amounts, the reasons for the modifications, and any supporting documentation or justification.
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