The purpose of this policy is to provide guidelines for movement of funds within an AAS funded grant. The AAS grantees are expected to take note of the provisions of this policy and abide by them.
The AAS expects grantees to manage their projects within the funding granted. It is the responsibility of each grantee to plan and conduct activities so as not to expend more funds than budgeted, and to ensure that funds are utilised effectively and efficiently. AAS however recognises the use of virements as a mechanism in the day-to-day management of grants budgets
Movement of funds between two grants is not allowable.
The grantee should check the AAS Award letter and Terms and Conditions before committing to vire funds.
b) Virement Limits and Approvals
For grants up to USD 100,000
For grants greater than USD 100,000
Funds earmarked for salaries and capital investments
Grantee cannot vire unless with prior approval from the AAS Programme Manager.
Changes over 10% of grant value or funds need for other purpose
For further information, please contact The AAS through email@example.com