What is an example of a use of undesignated contingency?
The college has used undesignated contingency in the past to cover salary increases that exceeded the amount set aside in the designated contingency for Personnel Services. We also have used undesignated contingency to provide budget authority for unforeseen events, such as rebuilding the Web Building after the fire, and before we were reimbursed by the insurance policy. The undesignated contingency acts as a safety net.
