Effective Budget Management

How can I most effectively manage my HUD CoC-funded program budget?

The use of budget controls is necessary to help recipients or subrecipients stay accountable to their approved annual budget. Budget management and control can be described as an ongoing process of comparing actual line-item expenditures with amounts outlined in the budget. This allows administrators to identify any variances and actively plan for necessary revisions to budgets.

The basic elements of budget controls include:

  • Comparing expenditures-to-date against planned expenditures and against projected accomplishments for such outlays (budget-to-actual reports)
  • Reporting deviations from budget and program plans
  • Requesting approval for budget and program plan revisions

Looking for definitions of the common CoC and ESG Program terms referenced throughout the Virtual Binders?

Virtual Binders Glossary