budgetary control

Also found in: Dictionary, Encyclopedia.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
reports of budgetary control, among other objectives.
If elected mayors are worth having, then let's see the full plan for devolved powers and budgetary control followed by a vote.
The appointment of Sir David Higgins to the HS2 Ltd board itself is a masterstroke in that it was he who was responsible for overseeing the Olympic Park project with its unique approach to 'vertically elastic' budgetary control!
The European Parliament's Committee on Budgetary Control (CONT) decided, by a slim margin on 26 September, not to okay the EEA's accounts for the 2010 financial year.
As a deputy governor, Sinha is responsible for information technology, expenditure and budgetary control, inspection, legal and premises.
Elmar Brok (EPP, Germany) snatched AFET (foreign affairs) chairmanship, Amalia Sartori (EPP, Italy) ITRE (industry), Gabriel Mato Adrover (EPP, Spain) PECH (fisheries), Matthias Groote (S&D, Germany) ENVI (environment) and Michael Theurer (ALDE, Germany) CONT (budgetary control).
The project aims to improve the financial viability of Social Security Institute (IHSS) and increase the administrative and budgetary control of the central government's human resources.
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?