Budgeting & Forecasting › The Budgeting Process
What is the budget timetable and why is it important?
IntermediateAnswer
The budget timetable sets deadlines for each stage—issuing guidelines, submitting functional budgets, review, negotiation, and final approval—so the completed budget is ready before the period begins. It coordinates many participants, prevents bottlenecks, and ensures the process finishes on time.
Real-world example The timetable requires functional budgets by October so the board can approve the plan before January.