"A budget is a calculation plan, usually but not always financial, for a defined period, often one year or a month."
The process of allocating resources, particularly financial resources, to achieve a particular set of goals.
Budgeting Basics: Understanding the basic principles of budgeting and terms related to budgeting.
Public Finance: Understanding the public finance system, including sources of funding.
Budgeting Process: Understanding the steps involved in creating a budget, including planning, drafting, and approval.
Budget Management: Managing budgets, including monitoring spending, evaluating results and making adjustments as needed.
Revenue Forecasting: Predicting the revenues that will be generated based on various assumptions.
Cost Estimation: Estimating costs of various projects, programs, and activities.
Performance Measurement: Measuring performance of budgetary items to ensure that they are meeting their goals.
Capital Budgeting: Managing large expenses associated with investments and capital projects.
Zero-Based Budgeting: An approach to budgeting that requires justification for all expenses, as if starting from scratch.
Financial Forecasting: Predicting the financial outcomes of different scenarios.
Budget Analysis: Analyzing budgets, including identifying areas for improvement and potential cost savings.
Budget Monitoring: Monitoring budgets to ensure compliance with financial and regulatory guidelines.
Economic Development: Developing programs and initiatives that promote economic growth and development.
Financial Reporting: Creating financial reports to inform stakeholders about the budgetary performance.
Cost-Benefit Analysis: Examining the costs and benefits associated with different options in order to make the right budgetary decisions.
Fund Accounting: Accounting for funds allocated through various channels, such as grants or loans.
Resource Allocation: Allocating resources, including setting priorities and making compromises.
Fiscal Policy: Developing policies related to spending and taxes to achieve economic goals.
Debt Management: Managing debt and credit for the government and other entities.
Treasury Management: Managing government assets, such as cash and securities, in order to maximize returns.
Traditional Budgeting: Based on previous year's budget and adjusted according to the current year's needs.
Zero-Based Budgeting: Starts from scratch each year, with every department or program having to justify their expenditures.
Performance-Based Budgeting: Focuses on outcomes rather than inputs and allocates resources based on the achieved results.
Activity-Based Budgeting: Relates budgeting to the specific activities that a government organization engages in.
Program Budgeting: Budgeting centered around specific programs instead of a department or function.
Line-Item Budgeting: Detailed budget created using line items, with budgeters required to justify every expense.
Rolling Budgeting: A budget that changes over a period of time to keep up with the evolving needs of the organization.
Participatory Budgeting: A budgeting process that involves public engagement and incorporates input from citizens.
Capital Budgeting: The budgeting process aimed at financing capital projects or investments (long-term in nature).
Outcome Budgeting: Budgeting based on the results that a particular expenditure intends to achieve; outcomes are the key determinant of success for each budgeting cycle.
"A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities and cash flows."
"Companies, governments, families, and other organizations use budgets to express strategic plans of activities in measurable terms."
"A budget expresses intended expenditures along with proposals for how to meet them with resources."
"A budget may express a surplus, providing resources for use at a future time, or a deficit in which expenditures exceed income or other resources."