budgetary control

(redirected from Budgetary Controls)
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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 ?
Secondly, these roughly equal terms for regional authorities must with clearly specified budgetary controls.
To provide a broader view of capabilities and risks within the ministries, CSTC-A significantly increased its budgetary controls this year through the Commitment Letters signed with the three Afghan ministries.
Coupled with the globally available declining balance and virtual card options, organisations are able to link a meeting budget with a set end-date to further enhance budgetary controls.
But Al Fayed said: 'The days of profligate spending are over and we subsequently must tighten our belts and introduce a regime of prudent budgetary control from top to bottom; transfer fees, player salaries and stadium development will all be scrutinised - make no mistake, football is in danger of going broke if it continues to pay itself more than it earns and we must address the situation immediately if we are to survive in the top flight of English football.