transparency in budgeting

Transparency in budgeting refers to the openness and clarity with which financial information is shared. It involves making budget details accessible and understandable to stakeholders, such as citizens or employees, so they can see how money is allocated and spent. This practice builds trust, enables better decision-making, and encourages accountability, as it allows others to understand the rationale behind financial choices. When budgets are transparent, it minimizes the risk of mismanagement and fosters a culture of honesty within organizations and governments.