Portland Children's Investment Fund | Budget Revisions
- There are two reasons for making budget revisions: 1) grantee notices variance from contract budget in how program is actually spending OR; 2) Children's Investment Fund staff observes variance in significant way from contract budget and ask grantee to revise budgets. In either case, grantee will have to revise its contract budget to more accurately reflect actual spending and spending needs.
- Budget revisions must include a revised budget (on Grantee Budget Form) and a narrative explanation describing changes and rationale for changes.
- Examples of reasons that might prompt Children's Investment Fund staff to request budget revision: 1) personnel varies by 10 percent or more; 2) need to make expenditure in a category that wasn't originally approved in budget (e.g. need to add a contractor); 3) under spent in a category or on a specific line item by thousands of dollars but could use those funds for other items in budget, etc.
- Budget revisions must be submitted electronically to your grant manager; grant manager will either approve revision or ask for additional revision until approved.
- Budget revisions do not include option to ask for additional funds.
- Budget revisions include carry over requests - within a contract period; if grantee has unspent funds at end of year and would like to carry funds over for use in following year, then budget revision (budget and explanation) can be submitted to grant manager for same process; grant manager will approve or ask for revision until approved. Funds cannot be carried over from one contract period to the next; only for years within a contract period.
