FAQ 4 – Second Quarter Confirmation
I am projecting a net income variance, which is offset by a net expense variance of the same amount. Do I need to submit a Second Quarter Confirmation Template, or can I just use the Budget Re-Alignment Request Template?
Yes, you need to submit a Second Quarter Confirmation Template. Net changes to your income and expense budgets must be reviewed and approved by Senior Management, even if the impact to each is offset by the other. The Budget Re-alignment Request Template should only be used to request a reallocation of funds within your current income and expense budget totals.