What does budget monitoring involve why is budget, Financial Management

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What does budget monitoring involve why is budget

1) What does budget monitoring involve? 2) Why is budget monitoring necessary? 3) What technical tools (hint: comparing allotment and actuals; preparing variance report) will you use to monitor a budget? 4) What would you do if funds for specific services are likely to run out before the end of the budget year? Please answer all the questions as thoroughly as possible.

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