budget

  

Definition

An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.

One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.


Use budget in a sentence

  • I did not wanna buy the item because it did not fit my budget and I needed to buy things that were less expensive.

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  • To make sure that your spending doesn't get out of control you need to set a strict budget that you always stick to.

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  • The budget was set and we could not alter our figures because we were held accountable by the new CEO.

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