Some General Information on the Budgetary Ledger 

The purpose of the budgetary ledger is to record, track, and control budgetary activities that impact on your agency’s budgetary resources. This involves the following:

·        Annual and multiyear budgets for expenditures and short term commitments of funds are developed for organizations and are classified by type of expenditure.

·        Changes made to the original budget are recorded and can be reported.

·        Expenditures and commitments are validated, recorded, and reported against the budgets.

·        Annual and multiyear revenue estimates are developed by type of revenue.

·        Revenues accrued or received are recorded and reported against the annual and multiyear estimates.

·        Actual fund balances are recorded and reported against the fund balance estimates.

The budgetary ledger is thus the source of all internal financial information for monitoring and control against the budget. Postings are not usually made using double-entry bookkeeping; the focus instead is on the receipt, commitment, and expenditure of budgeted funds.