It is the end of the fiscal year. CIRNAC funded an Indigenous organization to work with another indigenous organization on boundary issues. You have been asked to review a schedule of project expenses and compare it to the approved budget. Approved Budget: Wages/Salaries $10,000.00 Honoraria* $2,000.00 (5 people @ 2 days) Consultant $5,000.00 Travel $3,000.00 Administration @ 10%** $2,000.00 TOTAL $22,000.00 *Departmental Honoraria Policy: $200.00/person **Departmental Administration Cost Policy: max of 10% of total project costs Actual Expenses: Wages/Salaries $5,000.00 Honoraria $3,600.00 (4 people @ 3 days) Consultant $3,400.00 Travel $6,000.00 Administration $2,500.00 TOTAL $20,500.00 What are the observations?