Budgeting
/ˈbʌdʒɪtɪŋ/
Definitions
- (n.) The process of creating a financial plan allocating resources for legal entities or government agencies.
The budgeting process ensures that the department allocates sufficient funds for compliance activities.
- (v.) Gerund or present participle of budget, referring to the act of planning or allocating financial resources.
They are budgeting the expenses for the upcoming fiscal year.
Related terms
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Commentary
In legal contexts, budgeting commonly refers to formal financial planning, especially in governmental or organizational law; distinguish from the verb form, which is a morphological variant.
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.