Week 2 Objective 4.docx - Jordan Dawson Learning Objective#4 What is budgeting Budgeting is a combination of math and choices It is a formula of how

Week 2 Objective 4.docx - Jordan Dawson Learning...

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Jordan Dawson Learning Objective #4 What is budgeting? Budgeting is a combination of math and choices. It is a formula of how much revenue will be brought in and how that money will be spent. It is a decision of which projects or areas will be funded depending on need, want, and support. A budget must always be balanced and have a plan in place if part of the budget includes borrowing funds. A budget is not balanced if there is a plan in place to repay though funds that were borrowed. Sometimes a plan is made for more funds to be available in the future and that does not happen, so another plan must be made to pay back those funds. What is public budgeting? Public budgeting is similar to budgeting, but also has some differences. For instance, in public budgeting there are a lot of different people that all have a say in what the budget should be and where the funds should go. All participants who could have different opinions and thought of where the money should go. Another difference is that in public budgeting, the
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  • Winter '17
  • Dr. Pewitt
  • Finance

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