Original Budget
/ˈɔrɪdʒɪnəl ˈbʌdʒɪt/
Definitions
- (n.) The initial financial plan approved for a project or contract before any modifications.
The contract was awarded based on the original budget, which set the limits for expenditures.
Forms
- original budget
- original budgets
Related terms
See also
Commentary
The term typically refers to the legally binding financial baseline for a project or contract and is used to assess compliance and changes over time.
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.