Budget and expenses.

CFR · 2024-01-01 · US · Title 7

(a) At least 60 calendar days prior to the beginning of each fiscal period, and as may be necessary thereafter, the Board shall prepare and submit to the Department a budget for the fiscal period covering its anticipated expenses and disbursements in administering this part. The budget for research, promotion or information may not be implemented prior to approval by the Secretary. Each such budget shall include: (1) A statement of objectives and strategy for each program, plan, or project; (2) A summary of anticipated revenue, with comparative data for at least one preceding fiscal year, except for the initial budget; (3) A summary of proposed expenditures for each program, plan, or project; and (4) Staff and administrative expense breakdowns, with comparative data for at least one preceding fiscal year, except for the initial budget. (b) Each budget shall provide adequate funds to defray its proposed expenditures and to provide for a reserve as set forth in this Order. (c) Subject to this section, any amendment or addition to an approved budget must be approved by the Department, including shifting funds from one program, plan, or project to another. (d) The Board is authorized to incur such expenses, including provision for a reserve, as the Secretary finds reasonable and likely to be incurred by the Board for its maintenance and functioning, and to enable it to exercise its powers and perform its duties in accordance with the provisions of this subpart. Such expenses shal

official document · source cfr-2024 · id 7:§ 1217.50