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Chapter 66: Corporate Scheme of Financial Regulations
Budget Head
The lowest level of expenditure or income at which budgets are monitored. Generally this will be a line in the budget book although for departmental purposes these budgets will be broken down on the financial accounting system (Agresso) and monitoring undertaken at this lower level.
Budget set at a fixed level with no scope for subsequent increases to compensate for price or volume increases.
Sum set aside within an approved budget but not assigned for a specific purpose.
Budget approved at the time of fixing the Council Tax each year.
The amount of actual expenditure at the end of a year or contract which is greater than the approved budget or actual income which is less than the approved budget.
Revenue Budget
A separate function undertaken by the Council. Normally the first summary level in the Budget Book.
Approved addition to a previously agreed budget.
Target adjustments are a form of virement that involve transferring budgets between Directorates, or between a Directorate budget and a Corporate budget.