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BIDS AND AWARDS COMMITTEE II Project: PR No.: Approved Budget: for the ContractOfficial Gazette Web Hosting Back Up 2021050367 TWO HUNDRED FORTY THOUSAND PESOS (PHP 246,000.00)Date:May 26, 2021Quotation
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Gather all necessary information such as revenue sources, expenses, and any additional funding requirements.
02
Identify all categories that need to be included in the budget such as personnel costs, supplies, equipment, and overhead costs.
03
Determine the timeframe for the budget and allocate funds accordingly for each category.
04
Review the budget to ensure all numbers are accurate and realistic.
05
Get approval from relevant stakeholders or management before finalizing the budget.

Who needs approved budget for?

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Approved budget is needed by businesses, organizations, government agencies, and non-profit entities to effectively plan and allocate financial resources for their operations.
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It is also needed by project managers, department heads, and financial officers to track and control expenses, as well as to ensure compliance with funding or grant requirements.
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The approved budget is used to outline the financial plan for a specific period, detailing the expected revenues and expenses.
Government agencies, organizations, and businesses are required to file an approved budget to establish fiscal accountability.
To fill out an approved budget, one must list all projected revenues and expenses, allocate funds accordingly, and gain approval from relevant stakeholders or authorities.
The purpose of an approved budget is to ensure financial transparency, accountability, and effective resource management.
Information such as projected revenues, expected expenses, allocation of funds, and financial goals must be reported on an approved budget.
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