budgetary control

(redirected from Budget Controls)
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Related to Budget Controls: budgetary control

Budgetary Control

Any process a company or government puts in place to help ensure accuracy and honesty in its budget. Budgetary control may set goals for expected revenues or planned expenditures. It almost always includes a system to monitor compliance over time.

budgetary control

a system for controlling COSTS and REVENUES by comparing actual results with BUDGET estimates and then taking corrective action where necessary See COMPARISON STATEMENT.

Budgetary control involves two main stages:

  1. preparation of the budget prior to the start of the budget period, forecasting and planning activities for that future period;
  2. control by taking action based upon an evaluation of actual performance during the budget period in the light of the plans and standards developed in the budget.
References in periodicals archive ?
Managing agents, he says, are more involved in budget controls, while at the same time trying to enhance the quality of life for residents.
Financial management is strong and adherence to financial policies and effective budget controls has resulted in consistently large general fund balances.
Organizations have better budget controls because members can continuously fund their organization's mission and undertakings while shopping, without changing their spending habits, or directly taking money out of pocket.
This scope includes working with other consultants involved with oversight of environmental and regulatory compliance, the integration of automation and control systems, commissioning, startup, records management, schedule and budget controls.
30 to enforce stricter budget controls mainly in the debt-stricken euro zone, but Prime Minister Donald Tusk said Warsaw was seeking concessions: "If Poland does not win an appropriate status of participant in the euro zone meetings, which would give us a feeling that we take part in the decision-making process (.
Last night, Liverpool Council's former education executive, Cllr Paul Clein, said the pounds 43,439 spent was typical of the lack of budget controls over the scheme.
Fitch believes the county will maintain robust reserve levels well in excess of the enacted floor of 20% of revenue in the general and sewer funds through comprehensive financial planning and budget controls.
However the Sueddeutsche Zeitung daily said Merkel was willing to see the ECB step up its buying of troubled euro zone countries' bonds as a bridging solution until budget controls took hold.
FREE legal aid for vulnerable people is in danger of being axed because of tighter budget controls,North Wales law firms have warned.
In 1972, Carroll was named director, budget controls, Chevrolet; and in 1976, he was transferred to the General Motors financial staff and named director, procedures and methods.