Budgeting approaches are formats, models, or plans used to construct a budget. Budgeting is a multifaceted, ongoing, and cyclical process that is conducted annually and guided by federal and state law and local requirements. A budget is a financial expression of identified priorities for accomplishing an [Page 89]organization’s vision. One example would be a school district’s vision of its educational program. Different budgeting approaches serve as tools for achieving different goals and objectives, which include, but are not limited to, control of revenues and expenditures, prioritization, financial planning, and improvement of administrative functions. An organization has a choice of adopting or modifying an existing budgeting approach or designing an approach that most closely addresses its vision and needs for achieving that vision. This entry presents ...