Budget Statement

A budget statement is a financial document that outlines expected income and expenses for a specific period, usually a year. It helps individuals, businesses, or governments plan how to allocate resources, ensure they don't spend beyond their means, and set financial goals. By comparing projected and actual finances, it provides insight into financial health and guides decision-making for future activities. Essentially, it's a roadmap that shows how money is expected to come in and go out, promoting responsible financial management and transparency.