A budget is more than just an estimation of income and expenditure. It is in fact an indication of the credit that the Government wishes to employ, in order to carry out its policies during the budget year in question (budgeted expenditure), as well as how these are to be financed (budgeted income). The budget is therefore an act with political scope.
Income and expenditure are estimated for each budget year and authorised in an annual ordinance. The budget year begins on 1 January and runs until 31 December.
The budget-related ordinance determines the amount and the source of income and the intended destination for expenditure, as well as the resulting budgetary and financial balance for the period of one budget year. The ordinance is based on a well-defined economic balance that takes into consideration the commitments made by the Brussels-Capital Region, as well as the associated objectives and results.
The budget provides and allows for the settlement of all financial transactions, which are created for its own account with third parties.