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(a) Subject to (b) of this section, a grantee may reallocate money between budget categories within the total budget of the grant project to meet unanticipated expenditures necessary to the successful continuation or completion of the grant project, if the expenditures are authorized under the terms of the grant. Budget revisions may not be used to increase any budget category for project administrative expenses without the approval of the Corporation.
(b) The grantee must:
(1) receive approval from the Corporation before reallocating an amount under (a) of this section if the reallocation will result the total amount under (a) of this section exceeding 10 percent of the amount of the grant or $10,000, whichever is less, or such other amount as may be set out in the grant agreement, during the term of the grant agreement; and
(2) notify the Corporation within 30 days after reallocating an amount not subject to (1) of this subsection.
History: Eff. 6/11/96, Register 139
Authority: AS 18.55.100
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Last modified 7/05/2006