Budget Approval
/ˈbʌdʒɪt əˈpruːvəl/
Definitions
- (n.) Official authorization of a proposed budget by a competent authority, permitting expenditure according to the allocated funds.
The budget approval from the board allows the company to commence its capital projects.
Forms
- budget approval
- budget approvals
Related terms
See also
Commentary
Budget approval is a procedural act often required by law or internal governance to ensure funds are lawfully allocated before spending occurs.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.