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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.