Budget approval

Budget approval is the process of reviewing and confirming an estimated plan of income and expenses for a specific period, usually a year. It involves key decision-makers evaluating whether the proposed budget aligns with organizational goals, available resources, and strategic priorities. Once approved, it provides a financial framework that guides spending and investment decisions. This approval ensures accountability, helps manage risks, and supports effective resource allocation. It’s an essential part of financial planning, ensuring that financial activities are transparent, justified, and aligned with the organization's overall objectives.