functional budget

functional budget

a BUDGET which relates to a specific function of a business organization e.g., marketing, production, research and development, purchasing etc.
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References in periodicals archive ?
Our Union had only requested the Vice Chancellor, Prof Lanre Adigun Fagbohun, to constitute a functional Budget Monitoring Committee (BMC) in line with the Guidelines for Accessing Needs Assessment Intervention Fund of the Federal Government; provide evidence of proper utilisation of N1.
The LCCI President suggested that to improve the effectiveness of the provincial budget-making process, Provincial Budget Offices (PBOs) should be established to work as a fully functional budget making unit.
A functional budget process should help lawmakers set priorities and separate actual needs from mere desires.
Managers will take on greater responsibility and ownership of an activity budget as compared to a typical functional budget.
It enables the ongoing alignment of functional budget and the investments that support the organization's strategy, providing a direct linkage between resources required to achieve specific goals.
As program or functional budgets have become more accepted, libraries have begun to look at the concept of cost centers.
As a result, an organization can leverage existing reader investments across different functional budgets.
Resource Financials--enables cost definition at any level of the organization, allowing for corporate general ledger functional budgets to be compared with project budgets and spending.

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