annual budget

An annual budget is a plan that outlines how an individual, organization, or government expects to earn and spend money over the course of a year. It details projected income, such as salaries or revenue, and planned expenses, including bills, investments, or programs. The goal is to manage resources effectively, ensuring that spending does not exceed income and that priorities are met. Essentially, it serves as a financial roadmap, helping to track progress, make informed decisions, and stay financially on track throughout the year.