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Budget Cut

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Budget Cut
A reduction in the amount a department within a company or government may spend over a given period of time. Budget cuts often result from reduced revenue, or sometimes from prioritization of other resources. For example, if the state of Oklahoma receives 10% less tax revenue in a year than it received the previous year, it may institute 10% budget cuts on all state agencies so the state remains in balance.


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BIRMINGHAM City Council's proposed budget cuts to youth organisations in this and other areas could spell disaster to the disenchanted youth of today.
In the current fiscal year, these agencies were already subject to budget cuts of close to 7 percent imposed by the Legislature in the regular session.
The governor identified $277 million in immediate state budget cuts and hundreds of millions of dollars in other budget fixes to close a projected $600 million revenue gap.
 
 
 
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