[Code of Federal Regulations]

[Title 14, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR152.323]



[Page 140]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 

                               (CONTINUED)

 

PART 152_AIRPORT AID PROGRAM--Table of Contents

 

             Subpart D_Accounting and Reporting Requirements

 

Sec. 152.323  Budget revision: Airport development.



    (a) If any performance review conducted by the sponsor discloses a 

need for change in the budget estimates, the sponsor shall submit a 

request for budget revision on a form prescribed by the Administrator.

    (b) A request for prior approval for budget revision shall be made 

promptly by the sponsor whenever--

    (1) The revision results from changes in the scope or objective of 

the project; or

    (2) The revision increases the budgeted amounts of Federal funds 

needed to complete the project.

    (c) The sponsor shall promptly notify the FAA whenever the amount of 

the grant is expected to exceed the needs of the sponsor by more than 

$5,000, or 5 percent of the grant amount, whichever is greater.