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Budget Framework

Definition

Budget framework, /ˈbʌdʒɪt ˈfreɪmwɜːk/ (UK), /ˈbʌdʒɪt ˈfreɪmwɜːrk/ (US), is the structure or system of rules, principles, and guidelines that govern the preparation, execution, and evaluation of a budget.

Example

The Morgan family’s budget framework provides the necessary structure for effective financial management and oversight.