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MIDYEAR BUDGET AND PERFORMANCE ASSESSMENT REPORT 2018/19Prepared by Jozini MunicipalityCircle Street, Bottom Town, Jozini 3969 Tel: 035572 1292Fax: 035572 1266Email: municipalmanager@jozini.gov.za Website:
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How to fill out mid-year budget and performance

01
Review the initial budget and performance goals set at the beginning of the year.
02
Assess the current financial situation and performance of the organization or department.
03
Identify any changes or deviations that have occurred since the beginning of the year.
04
Adjust budget allocations as necessary based on the current financial status and performance.
05
Set new performance goals for the remainder of the year, keeping in mind any adjustments made to the budget.
06
Communicate changes and updates to relevant stakeholders and monitor progress towards new goals.

Who needs mid-year budget and performance?

01
Organizations and departments looking to track their financial performance and make adjustments to their budget mid-year.
02
Managers and decision-makers who are responsible for overseeing budget allocations and ensuring performance goals are being met.
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Investors and stakeholders who want to have a clear picture of how the organization is performing and what changes are being made to ensure success.

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A mid-year budget and performance report is an evaluation of a governmental unit's fiscal performance and spending habits halfway through the fiscal year, allowing for adjustments to be made to ensure alignment with the budget.
Typically, all governmental agencies and entities that receive state funding or are subject to financial oversight are required to file mid-year budget and performance reports.
To fill out mid-year budget and performance reports, entities should collect financial data, compare actual spending to the budget, highlight variances, and prepare summaries of performance metrics relevant to their goals.
The purpose is to assess the financial health of the entity, ensure funds are being used effectively, identify any budgetary challenges, and make informed decisions for the remainder of the fiscal year.
Reports should include actual vs. budgeted revenues and expenditures, explanations of variances, performance metrics, and any necessary adjustments to the budget.
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