NOTE: The Change Request feature should only be used when reallocating your budget or submitting a draw request. You can submit for both a budget change request and a draw request at the same time by clicking the Request button and choosing both options.
You can request to reallocate budget from one line item to another within your project using TrustPoint, as long as the total balance of the budget remains the same. For example, if you want to increase your Landscaping Budget by $5,000 you need to reduce another line item, such as Flooring, by the same amount. You can also reduce more than one line item as long as the total reduction equals the increase you entered.
The Change Request process is easy to go through, but involves multiple steps. Let's walk through the process together.
- Click the Add Request button at the top right of the screen
- In the Popup, check Change Request
(also check Draw request if you wish to request funds)
- Click Next
- Enter the requested increase and decrease amounts for each line item being amended
NOTE: If you are adding a new line item to the budget you will need to scroll to the bottom of the list to create the new item
- When done entering the changes, click Next
- On the Policies Page please complete any of the requirements from your lender
(this may include things like uploading supporting documents, stating of the changes affect ARV, or agreeing to an Attestation statement) - When done, click Next
- On the Change Request Overview, review and confirm one last time that the changes entered are correct
- Click Submit to send the request to your Lender for approval
* * IMPORTANT NOTE * *
For Contingency line items, many Lenders require that these funds be reallocated to the appropriate budget line items. Please note this, as you may not be able to draw directly from a Contingency line without reallocating funds.