Civic · 6 pages · 12 min
How a budget is a plan not a treasure
A budget authorizes spending and estimates revenue for a period, and it is not cash already piled up.
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From the opening
A public budget is a plan, usually for one fiscal year, that estimates revenue and authorizes spending by program, department, or fund. It is not a treasure chest in which each program's money has already been gathered into labeled piles before the year starts. The opening covers appropriations authorize spending, revenue figures can be estimates, and funds keep pools separate.
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Inside
- Appropriations authorize spending
- Revenue figures can be estimates
- Funds keep pools separate
- Cash on hand is not the plan
- Where the idea stops applying
- A distinction worth keeping
Sources
- Public appropriation
- Governmental fund accounting