COMMUNITY BUDGET Meaning and
Definition
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Community budget refers to the financial plan or framework that is established and managed by a specific community or group of individuals with shared interests or goals. It is a tool utilized by communities to effectively allocate and manage their financial resources in order to meet their collective needs and achieve their desired objectives.
The community budget serves as a comprehensive outline that outlines the various sources of income and expenditure, and identifies the priorities and projects that require financial support. It typically encompasses various aspects, including revenue generation, expenditure planning, savings, and investment strategies.
The main purpose of a community budget is to promote transparency, accountability, and equitable distribution of resources within the community. It allows members to have a clear understanding of the financial health of the community, ensuring that funds are utilized efficiently and effectively. Through the budgeting process, community members can participate in decision-making, providing inputs and suggestions for the allocation of resources.
Community budgets also facilitate long-term planning and sustainability by considering the future needs and challenges of the community. It enables the community to plan and prioritize its projects and initiatives, ensuring that resources are allocated to areas that will have a positive and lasting impact.
In summary, a community budget serves as a financial roadmap for a community, enabling effective management and distribution of resources to meet collective needs and achieve shared goals.
Common Misspellings for COMMUNITY BUDGET
- xommunity budget
- vommunity budget
- fommunity budget
- dommunity budget
- cimmunity budget
- ckmmunity budget
- clmmunity budget
- cpmmunity budget
- c0mmunity budget
- c9mmunity budget
- conmunity budget
- cokmunity budget
- cojmunity budget
- comnunity budget
- comkunity budget
- comjunity budget
- commynity budget
- commhnity budget
- commjnity budget
- comminity budget
Etymology of COMMUNITY BUDGET
The word "community" originated from the Latin word "communitas", which means "fellowship" or "partnership". It evolved from the concept of people sharing a common purpose or living in proximity and having social connections.
The word "budget" traces its roots back to the Middle French word "bougette", which denoted a small bag or purse. In the 15th century, this term began to be associated with financial planning and allocation, as accountants would use small bags to hold their records and calculations.
Therefore, the term "community budget" combines the idea of a group of people with shared interests, living in proximity or having social connections, and financial planning and allocation. It generally refers to the financial resources allocated and managed by or for a specific community or group of people.
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