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DATE: 02/29/2024 REQUEST FOR QUOTATION Solicitation No.202410132 I. MANDATORY REQUIREMENTS 1. Submission of documentary requirements: Mayors /Business Permit for CY 2022 and the Official Receipt as

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A budget in the context of a department refers to a financial plan that outlines the expected revenues and expenditures for a specific period, typically a fiscal year.

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Typically, government agencies, departments, and organizations that receive public funding are required to file a budget with their respective financial authorities.

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To fill out a budget, identify all expected income sources, list all expenditures, categorize expenses, estimate amounts for each category, and ensure that total revenues equal total expenses.

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The purpose of a budget is to allocate resources, guide financial decision-making, control spending, and ensure accountability in the use of funds.

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A budget must typically report on estimated revenues, planned expenditures by category, funding sources, and any assumptions or justifications for the budgeted amounts.

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