What Is a Master Budget?

The total budget is the budget compiled by the governments at all levels and the annual revenue and expenditure of the governments at the lower and lower levels. The national total budget consists of the central budget and the total budgets of provinces, autonomous regions and municipalities. The local general budgets at all levels are composed of the government budget at the same level and the aggregated budget at the next level; if there is only the budget at the next level, the total budget at the lower level refers to the budget at the lower level, and the total budget refers to the budget at the same level . ^[1]

total budget

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The total budget is the budget compiled by the governments at all levels and the annual revenue and expenditure of the governments at the lower and lower levels. The national total budget consists of the central budget and the total budgets of provinces, autonomous regions and municipalities. The local general budgets at all levels are composed of the government budget at the same level and the aggregated budget at the next level; if there is only the budget at the next level, the total budget at the lower level refers to the budget at the lower level, and the total budget refers to the budget at the same level . ^[1]

Governments at all levels compile budgets for the annual fiscal revenue and expenditure plans of their governments and lower governments. Also known as the general fiscal budget.
China has established a total budget of five levels: national, provincial (autonomous regions, municipalities), provincial cities (autonomous states, municipalities), counties (autonomous counties, cities, flags), and townships (ethnic townships, towns). The total budget of each level is the sum of the budget of the government at the current level and the total budget of the government at the lower level. For example, the total budget of a province (autonomous region, municipality directly under the central government) is composed of the budget of each provincial department (including the direct unit) and the total budget of a provincial municipality (autonomous state, municipality). (Autonomous region, municipality directly under the Central Government) composition of the general budget.
Generally speaking, the total budget of a foreign country has two meanings: from the perspective of the budget subjects, the total budget is the comprehensive plan of government revenue and expenditure; from the perspective of the division and consolidation of the department budget, the total budget is the sum of the budgets of various departments. In some countries, the general budgets at all levels are independent of each other. The national general budget (central comprehensive budget) does not include local general budgets, such as the United States, Britain, France, and Japan.