Devolved Budgeting Law and Legal Definition
A devolved budget allows others to have a say. In such budgets, one take responsibility for one's actions and give more freedom to others in how the money is spent. Devolved budgeting follows devolving managerial responsibility, and assumes that those who are closest to the point of delivery of product/service and other activities will normally be in the best position to make informed choices between alternative courses of action. For devolved budgeting to be fully effective, the budget holder should maintain proper control of the costs being charged to him or her and be accountable for performance against budget. The budget structures are scrutinized continuously. The aim being to establish what further scope exists for useful devolution of authority and responsibility.
