Budgets

Definition

The monetary budgets assigned to a specific iati-activity can be described in the IATI activity standard using the following:

• transaction-type - Commitment type can be used to describe the total committed budget for the duration of the activity.
• budget - the value of the iati-activity budget for each financial year, as stated in the original project document.
• planned-disbursement - a scheduled payment, set up against the budget

Additionally, there are two areas within the IATI activity standard that allow further clarification of budgets:

• country-budget-item - alignment of iati-activity with the functional and administrative classifications used in the recipient-country Chart of Accounts.
• capital-spend - the percentage of the total commitment that is for capital spending.

These all relate to the specific iati-activity being described.

Considerations

When using the IATI activity standard to declare budgets, the following should be considered:

• It is recommended that budgets are presented in financial years.
• When presenting multiple budgets, then the budget element should be repeated accordingly.
• It is expected that the financial years for reporting-org are described.
• It is possible to report periods other than years, but this is not recommended.
• Financial periods can be presented using the period-start and period-end dates.
• For planned-dibursement it is valid to only report the period-start as a single date.
• It is possible to report budget values in multiple currencies, overriding the default currency set in iati-activity
• It is expected that budgets would be described from the reporting-org perspective.
• When declaring a value-date for any budget, this date must be in the past.