Budget process

A budget process refers to the process by which governments create and approve a budget, which is as follows: * The Financial Service Department prepares worksheets to assist the department head in preparation of department budget estimates * The Administrator calls a meeting of managers and they present and discuss plans for the following year’s projected level of activity. * The managers can work with the Financial Services, or work alone to prepare an estimate for the departments coming year. * The completed budgets are presented by the managers to their Executive Officers for review and approval. * Justification of the budget request may be required in writing. In most cases, the manager talks with their administrative officers about budget requirements. Adjustments to the budget submission may be required as a result of this phase in the process. Budgeting is the setting of expenditure levels for each of an organization’s functions. It is the estimation and allocation of available capital used to achieve the designated targets of a firm.

A budget process refers to the process by which governments create and approve a budget, which is as follows: The Financial Service Department prepares worksheets to assist the department head in preparation of department budget estimates The Administrator calls a meeting of managers and they present and discuss plans for the following year’s projected level of activity. The managers can work with the Financial Services, or work alone to prepare an estimate for the departments coming year. The completed budgets are presented by the managers to their Executive Officers for review and approval. Justification of the budget request may be required in writing. In most cases, the manager talks with their administrative officers about budget requirements. Adjustments to the budget submission may be required as a result of this phase in the process. Budgeting is the setting of expenditure levels for each of an organization’s functions. It is the estimation and allocation of available capital used to achieve the designated targets of a firm. ==See also== Budget Economics Budget theory Political economy Constitutional economics public budgeting budget deficit budget surplus budget crisis Canadian federal budget Comprehensive income Government Accountability Office investigations of the Department of Defense Government-owned corporation public administration public finance United States budget process ==Notes== ==References== Performance Budgeting: Linking Funding and Results, Marc Robinson (ed.), IMF, 2007 From Line-item to Program Budgeting, John Kim, Seoul, 2007 Program and Performance Budgeting Enthusiasm in India -- IMF Training Course, Holger van Eden, IMF, 2007 Public Finance Reference Reading: Revisiting the Classics -- Schick's Contemporary Approach to PEM (1998), Bill Dorotinsky, IMF, 2007 Budget practices and procedures --- everything you'd want to know about OECD countries, Bill Dorotinsky, IMF, 2007 Performance budgeting: selected international experiences and some lessons for Slovenia, Aleksander Aristovnik and Janko Seljak, MPRA Paper 15499, 2009

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