The Local Budget Process

1. What is government budgeting?


Government budgeting is the critical exercise of allocating revenues and
borrowed funds to attain the economic and socia l goals of the country. It also
entails the management of government expenditures in such a way that will
create the most economic impact from the production and delivery of goods
and services while supporting a healthy fiscal position.

2. Why is government budgeting important?


Government budgeting is important because it enables the government to plan
and manage its financial resources to support the implementation of various
programs and projects that best promote the development of the country.
Through the budget, the government can prioritize and put into action its
plants, programs and policies within the constraints of its financial capability
as dictated by economic conditions.

Lgu budgeting process from Gina Lee Santos