> AIDCO - EUROPEAID faq > If by using the contingency reserve the Organisation ends up by overspending on a budget heading by more than the 15% allowed, should it ask for an amendment of the approved budget or are funds from the contingency reserve neutral?
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If by using the contingency reserve the Organisation ends up by overspending on a budget heading by more than the 15% allowed, should it ask for an amendment of the approved budget or are funds from the contingency reserve neutral?

The contingency reserve can only finance unforeseen events. If the use of contingency causes the Grant Beneficiary to overspend, that it has to request an amendment to the budget and ask the Commission for formal approval.

Date: 15/12/2009

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