budgetary process

The budgetary process is how government and organizations plan and manage their finances. It starts with setting priorities and estimating income and expenses for a specific period. Then, budgets are drafted, reviewed, and approved by decision-makers. Once approved, funds are allocated to various programs and projects. Throughout the period, actual spending is monitored and compared to the budget, making adjustments if necessary. This process ensures that resources are used effectively to meet goals, maintaining financial stability and accountability.