Professional Documents
Culture Documents
I. BUDGETING
Is the translation of programs, projects and activities into their resource requirements which are expressed in monetary financial terms.
WHAT IS A BUDGET?
A
BUDGET A DEFINITION
A planned expression of money
Wright.D 1994 A practical foundation in costing Routledge For a defined activity
Shows;
Income
ANOTHER DEFINITION
A budget process is a system of rules governing the decision-making that leads to a budget, from its formulation, through its legislative approval, to its execution.
Karl-Martin, Ehrhart, Roy Gardner, Jrgen von Hagen, and Claudia Keser Budget Processes: Theory and Experimental Evidence, November 2000
within a limit Control Forecasting Delegate Prioritise Wants, Organise Needs, Within the realm of what we Can
department or agency of the govt. is given a ceiling or budget level. The DBCC estimates the anticipated revenues and determines the budget level.
B. Budget Authorization
Congress discusses the budget with focus on policy, budget levels, thrust and strategy.
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C. Budget Execution it is the major phase of the budget process. Authorized appropriations can only be available after complying with establish guidelines.
D. Budget Accountability
The concept of accountability in budgeting gives emphasis to the results of expenditures allocated and incurred. It refers to the evaluation of the quantitative and qualitative measures of an agency performance as reflected in the units of work measurement and other indicators of agency performance.
process is too long There is a lot of game playing Business decisions change but the budget does not People in charge of budget are held accountable in areas where they have no responsibility
Line Item Budgeting this is used to be most widely used budgeting system. This system is not goal- oriented,.
2. Performance
Budgeting is a management- oriented system of budgeting which measures actual or estimated results in terms of befits accruing to the public and their unit costs.
According to Bacani
elementary and secondary education dictates that government should aim to provide schooling for the population in these school age groups.