budgetary control


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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 ?
If elected mayors are worth having, then let's see the full plan for devolved powers and budgetary control followed by a vote.
Members of the Committee on Budgetary Control (CONT), following rapporteur Ines Ayala Sender's (S&D, Spain) lead, decided unanimously, on 26 September, not to okay the Council's accounts for 2010, although they noted that payments were free from material error.
He would also be responsible for the departments of Information Technology, Expenditure and Budgetary Control, Inspection, Legal and Premises.
THE EUROPEAN Parliament should refuse to grant the UK-based European Police College (CEPOL) a budget discharge for financial year 2008 because of poor spending controls, its budgetary control committee has said.
While I recognise our local doctors have to be very bright people to gain their medical qualification, since when have qualifications in budgetary control and accountancy been part of their training?
Summary: BRUSSELS: A party that wants to split Belgium was on course to win a parliamentary election on Sunday as Reuters went to press, a result that could complicate efforts to form a coalition that can deliver reforms of the state and tight budgetary control.
Chairman of the Committee on Ethics and Rules of Kyrgyz Parliament Sharipa Sadybakasova attended the meeting of the budgetary control committee of CIS IPA in St.
Businesses ordering online also benefit from a value-added service, including budgetary control, management information and downloadable online COSHH information and product information.
A spokesman for BVSC said: "As a result of being involved in this activity, they have already developed skills in project management, budgetary control, event organisation and working in a team situation.
Towe, 1991, "The Budgetary Control and Fiscal Impact of Government Contingent Liabilities", International Monetary Fund Sta.
Also, esource2office utilises a proprietary transaction engine called online2office which is designed to provide organisations with the authorisation and sourcing disciplines required for budgetary control and receiving billing and management information.