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BUDGET PREPARATION & MAINTENANCE SYSTEM USER MANUAL FY 2020 WORKING BUDGETOffice of the Executive Director of Financial OperationsUNIVERSITY OF MARYLAND FINANCIAL OPERATIONS OFFICE OF BUDGET AND FISCAL

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How to fill out budget preparation amp maintenance

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Begin by gathering all your financial information, including income, expenses, and debts.

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Create a list of all your sources of income, such as salary, investments, or rental income.

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Categorize your expenses into fixed expenses (such as mortgage or rent payments) and variable expenses (such as groceries or entertainment).

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Determine your financial goals and priorities, such as paying off debts or saving for a vacation.

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Set realistic budget targets for each category based on your income and expenses. Allocate funds accordingly.

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Monitor your spending regularly and adjust your budget as necessary.

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Keep track of your financial progress and make necessary changes to your budget to achieve your goals.

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Consider using budgeting tools or apps to simplify the process and track your expenses automatically.

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- Large corporations and government agencies who want to streamline financial operations, allocate resources, and maintain transparency in budgeting.

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