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This question is about employer.
What does a balanced budget mean?
A balanced budget refers to the financial planning or budgeting process in which total costs are expected to be equal to the total planned amount of funds to be spent. Budgets can be considered balanced usually after a fiscal year's worth of profits and costs have transpired and been recorded.
Organizations aim for balanced budgets so they do not end up spending more money than is budgeted for specific expenses. When a company spends more than what it plans to, it can not have a balanced budget, this is also referred to as a budget deficit or "going into the red".
Balanced budgets can also happen when a company exceeds the amount of revenue projected in a budget. This is known as a budget surplus. Balanced budgets are an extremely useful financial tool for organizations to execute solid financial planning and business decisions.
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