Define a budget and its uses.

Answer:
A budget is essentially a plan that is stated in financial terms, an estimate of future expenditures, an asking price, a policy statement, the translation of financial resources into human purposes, and a contract between those who appropriate the funds and those who spend them. A budget is, literally, a financial standard for a particular operation, activity, program, or department. Its data is presented in numerical form, mainly in dollars to be spent for a particular purpose—over a specified period of time. Budgets are derived from planning goals and forecasts. In addition, the budget is a management tool, a process, and a political instrument. It is a comprehensive plan, expressed in financial terms, by which a program is operated for a given period. It includes (1) the services, activities, and projects comprising the program; (2) the resultant expenditure requirements; and (3) the resources available for their support.