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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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What is budget to actual reports?
Budget to actual reports compare the budgeted expenses and revenues with the actual expenses and revenues to track financial performance.
Who is required to file budget to actual reports?
Organizations, businesses, or individuals who have prepared a budget are required to file budget to actual reports.
How to fill out 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.
What is the purpose of budget to actual reports?
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.
What information must be reported on budget to actual reports?
Budget to actual reports must include budgeted amounts, actual amounts, variances, explanations for variances, and any corrective actions taken.
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