Budget is the money to be spent on a project, or by a person or organization in a time period. It usually lists the various things that are to be done, and how much to spend on each. For example, a construction budget may list the various kinds of material and labor and the money to spend on each. A budget may also list estimated revenues. When spending is less than revenues, it is a surplus budget. When spending is more than revenues, it is a deficit budget. When they are the same, it's a balanced budget.
An organization's budget is usually for a fiscal year.
The common usage of the word "budget" refers to a financial plan by an individual or an organization based on their projected income and expenses.It also is used in the sense of the amount that individual or organization can spend.
Related pages Edit
- "The Elevate Guide to Budget Reconciliation".
- "Budget Meaning in the Cambridge English Dictionary". Retrieved 2021-02-25.