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RICHTERSVELD MUNICIPALITY(NC061)MID YEAR BUDGET ASSESSMENT REPORT FOR THE 2023/24 FINANCIAL YEARRichtersveld Municipality MidYear Budget and Performance Report for period ending 31 December 2023TABLE
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01
Gather all your income sources including salary, bonuses, rental income, etc.
02
List all your fixed expenses such as rent/mortgage, utilities, insurance, etc.
03
Record all variable expenses like groceries, shopping, eating out, etc.
04
Sum up your total income and total expenses.
05
Calculate the difference between income and expenses to see if you have a surplus or deficit for the month.
06
Review your budget and make adjustments as needed.

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Individuals who want to track their spending habits and financial health.
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Families looking to manage their household finances efficiently.
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Business owners aiming to monitor their cash flow and make informed financial decisions.
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Financial advisors assisting clients with budgeting and financial planning.
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A monthly budget statement report is a financial document that summarizes the revenues and expenditures of an organization for a specific month, helping to track financial performance against the budget.
Organizations, including government agencies, non-profits, and businesses that are mandated by law or regulation to track their financial performance and report on their budget usage are required to file monthly budget statement reports.
To fill out a monthly budget statement report, collect data on actual revenues and expenditures for the month, compare these figures to the budgeted amounts, and document any variances along with explanations.
The purpose of a monthly budget statement report is to provide insights into the financial health of the organization, facilitate financial planning, and ensure accountability by comparing actual financial performance to budgeted figures.
The information that must be reported includes actual revenues, actual expenditures, budgeted amounts, variances between budgeted and actual figures, and explanations for significant variances.
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