Proper budgeting will reduce the chances of needing to resubmit your budget to IBJ for review. Keep these principles in mind when creating your project budget.

• Comprehensiveness: The budget must encompass all fiscal operations of government, i.e. off-budget expenditure and revenue are prohibited.

• Discipline: Decision-making must be restrained by resource realities over the medium term; the budget should absorb only those resources necessary to implement government policies; and budget allocations should be adhered to.

• Legitimacy: Policy makers, who can change policies during implementation, must take part in and agree to the original policy.

• Flexibility: Decisions should be pushed to the point where all relevant information is available.

• Predictability: There must be stability in macro and strategic policy, and in the funding of existing policy.

• Contestability: All sectors must compete on equal footing for funding during budget planning and formulation.

• Honesty: The budget must be derived from unbiased projections of revenue and expenditure.

• Information: A medium-term aggregate expenditure baseline against which the budgetary impact of policy changes can be measured and accurate information on costs, outputs and outcomes derived should be available.

• Transparency: Decision makers should have all relevant issues and information before them when they take decisions and these decisions and their basis should be communicated to the public.

• Accountability: Decision makers are responsible for the exercise of the authority provided to them.

Please read the World Bank Small Grant Program budgeting guidelines in this section for further reference.
Last modified: Friday, 23 June 2017, 1:51 PM