baseline budget
Definitions (2)
1. Contract management: The amount of the authorized cost of a contract and the estimated cost of authorized non-priced work. This is the baseline that measures cost compliance.
2. Business: The basis used for preparing a budget for an upcoming fiscal year. The baseline budget begins with the current year budget and is adjusted according to actual spending in the current year, inflation, projections for new expenditures and any additional capital expenditures which are expected.
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