Budget Adjustments
Developing a sound budget plan should minimize the need for adjustments but it will not eliminate it. Adjustments to the Board approved LOPL budget should serve the same planning and control purposes adopted in the development of the annual budget.
- Any single budget adjustment to revenue or expense in the amount of more than $10,000 must be approved by the LOPL Regional Board of Trustees.
- Any single budget adjustment to revenue or expense in the amount of $10,000 or less may be made by the LOPL Executive Director with the consent of the LOPL Finance Director.
- Budget adjustments will be implemented on an ongoing basis as needed. All adjustments to the budget will be reflected in the Monthly Financial Statement provided to and approved by the LOPL Regional Board of Trustees.