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MEMORANDUM TO:Board of TrusteesFROM:Paul Navajo Director of FinanceSUBJECT:Fiscal Year 2020/21 Fourth Quarter Budget Update: Popular CIP Status Report Through June 30, 2021DATE:September 7, 2021I.
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Budget to actual reports compare the budgeted expenses and revenues with the actual expenses and revenues to track financial performance.
Organizations, businesses, or individuals who have prepared a budget are required to file budget to actual reports.
Budget to actual reports are typically filled out by comparing the budgeted amounts with the actual amounts spent or earned during a specific time period.
The purpose of budget to actual reports is to analyze financial performance, identify variances between budgeted and actual amounts, and make informed decisions based on the analysis.
Budget to actual reports must include budgeted amounts, actual amounts, variances, explanations for variances, and any corrective actions taken.
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