balanced budget(redirected from Fiscal responsibility)
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A budget in which the income equals expenditure. See: budget.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A budget in which revenues equal or exceed expenditures. A balanced budget is thought to be positive for a company, as it means that the company is not taking on any (additional) debt in order to conduct its operations; if revenues exceed expenditures, it results in a profit. Balanced budgets may be recognized after a fiscal year is complete, or they may be projected for an upcoming year.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A budget in which the expenditures incurred during a given period are matched by revenues.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
balanced budgeta situation where GOVERNMENT EXPENDITURE is equal to TAXATION and other receipts. In practice, most governments run unbalanced budgets as a means of regulating the level of economic activity Where the government spends more than it receives in taxation, then a BUDGET DEFICIT is incurred. Where the government spends less than it receives in taxation, then a BUDGET SURPLUS ensues. See BUDGET, FISCAL POLICY, PUBLIC SECTOR BORROWING REQUIREMENT.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005